Many people with the skills of plumbing, electrical, carpentry, drywall, painting and etc will often open their own handyman business. For those who want to open a business as a handyman, you need more than just skills and tools. You will need insurance. A handyman will need a good insurance plan that protects him or her, their equipment and their clients. InsureWise LLC would like to share what insurance policies a handyman may want to purchase so they have the right coverage.
General Liability Insurance
General liability is an insurance program that is a great foundation for any business. A handyman will want to start with a general liability insurance plan. A general liability plan protects bodily injury and property damage that was the result of negligence or accident under your charge and operation. If your clients’ property was damaged by you accidentally, your general liability insurance will cover the cost of replacing or repairing the damages. If you or another person on the job site got injured, general liability will cover the medical cost. For a handyman general liability insurance is rather essential due to the nature of the business. As a handyman you will want to make sure you have general liability insurance. There are a few different types of general liability insurance policies. As a handyman, we recommended you seek one of these general liability insurance plans:
• Voluntary Property Damage
• Off-Premises Care, Control
Commercial Auto Policy
For a handyman your vehicle is not just your car it is an essential aspect of your business. Many handyman’s businesses will have trucks and vans to bring all of the tools and material to the site. When your vehicle is damaged you cannot work. Additionally, accidents can occur while you are driving during the course of a job. A handyman will want to have Commercial Auto Insurance. A personal auto insurance policy will exclude business related problems. If your vehicle was damaged, as well as your tools and materials, a personal auto insurance policy cannot help you. This is why you will want a commercial auto insurance plan.
If you are working alone you may not need worker’s compensation. However, for those who may have employees, even if it is only one or two people, you will want to get worker’s compensation. If an employee gets injured while on the job and they need time off to recover, they will need some compensation. To keep your feet out of hot water so to speak, you will want to protect yourself and your business and have worker compensation.
Customize Your Insurance
A handyman is a unique business with its own hazards and concerns. When opening a handyman business, you will want to contact a professional insurance agency to begin seeking the right insurance program. You can customize your insurance policies to fit your business’s needs. You might be surprised to see how much you can customize your insurance program to ensure you pay for want you need and that your business is protected.