Handyman Liability: Cost and Inclusions of Handyman Insurance

Are you looking into handyman insurance for your business? Here are some of the things you should watch out for when shopping for policies!

When you choose to work as a handyman, it is important that you find the right insurance policy for you. There are many instances where something might go wrong and you could be liable to pay for the damage. From medical bills to legal fees, these sorts of lawsuits can cause a lot of issues for you if you have no way to pay them. You could even potentially be faced with bankruptcy and the closure of your company.

Luckily, there is one way you can protect yourself from lawsuits and other issues; handyman insurance. Let’s take a look at some of the policies which might benefit you.

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The Cost of Insurance

Unfortunately, there is no one policy which covers all the issues you might have. There are policies out there which offer to cover everything in the business but these can be very expensive. If you are looking for cheap handyman insurance, you should take a look at a solution which will allow you to construct the right policies for you. Being able to construct a custom set of policies allows you to decide exactly what you want and need for your business and stops you paying for unnecessary policies which you are never going to need.

Inclusions

Two of the policies which you are always going to want to include in your handyman insurance are general liability and professional liability insurance.

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General Liability Insurance

This policy is a must across all businesses, whether you are in the handyman and maintenance industry or another. It protects you against basic risk and damage to third parties. This means that you are protected in the event that a third party becomes injured as a result of your actions. If someone trips over your toolbox and sues for coverage of their medical bills, the general liability insurance proposal can help you cover this.

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Professional Liability Insurance

Think you are covered with general liability insurance? Not quite. You will also need a professional liability insurance policy to protect your business against negligence claims and professional mistakes. As a handyman, you might install the wrong part in a sink, causing more leaks, or something similar. Mistakes happen all the time and you can’t let a bad day lead to the loss of your business through a lawsuit. The right professional liability insurance is exactly the protection you need.

You might also want to include some other policies in your insurance like commercial vehicle insurance. If you have a van for work, this sort of policy can help protect you from third-party damage caused by the van as well as insure any employees who might also have to drive your vehicle.

Insurance is one of the most important safety blankets a business can have and there are many companies out there who claim to offer one-stop policies. Take your time when selecting the policies you need, and make sure that you end up with the perfect set of policies which protect your business exactly how you need them to.

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