Having the right insurance in place is essential for any business, especially for a handyman business. Handyman business insurance can provide financial protection against clients’ claims and help protect the business from unforeseen circumstances.
Here, we’ll cover the types of handyman business insurance you should consider, what to look for in business insurance, and how to apply for one:
What Types of Handyman Business Insurance are Available?
The most common type of insurance for a handyman business is general liability insurance. This type of insurance provides coverage for any property damage or personal injury caused by your business activities. It can also cover any medical expenses you may incur if someone is injured while working. This type of insurance is critical if you’re working on projects involving electrical or plumbing, as these can be particularly hazardous.
Another type of insurance that’s important for a handyman business is workers’ compensation insurance. This type of insurance provides coverage for any medical expenses or lost wages that a worker may incur if injured on the job. This type of insurance is essential for any business that employs workers, as it provides them with financial protection if they’re injured while working.
Finally, property insurance is also vital for any handyman business. This type of insurance covers any damage to your tools, equipment, or other property while you’re working. This type of insurance can be especially important if you’re working in someone else’s home, as it can help cover any costs associated with replacing or repairing any damaged property while you’re working.
How to Apply for Handyman Business Insurance
As a handyman, you know that having the right insurance is essential to protect yourself and your business. Whether you are a full-time handyman or a part-time contractor, it is important to have the right coverage to protect you from unexpected accidents and losses. Applying for handyman business insurance might sound complex, but we can help. Here we share a step-by-step guide to help you get the coverage you need.
Step 1: Determine Your Coverage Needs
The first step in applying for handyman business insurance is determining what type of coverage you need. Do you need general liability insurance, workers’ compensation insurance, or both? General liability insurance covers you for any property damage or bodily injury resulting from your work. Workers’ compensation insurance covers your employees in the event of an accident or injury while on the job.
Step 2: Shop Around
Once you’ve determined the type of insurance you need, the next step is to shop around for the most suitable coverage at the best price. You can do this online or by calling different insurance companies. Make sure to compare premiums, deductibles, and coverage limits to make sure you get the best deal.
Step 3: Fill Out the Application
Once you’ve found an insurance company that meets your needs, the next step is to fill out the application. Make sure to include all of the relevant information, such as your business name, address, and any additional information that is requested. Make sure to read all of the terms and conditions so you understand what is covered and what isn’t.
Step 4: Submit the Application
Once you’ve completed the application, the next step is to submit it to the insurance company. Make sure to keep a copy of the application for your records. The insurance company will review the application and determine if you qualify for coverage.
Step 5: Pay the Premium
Once approved for coverage, the final step is to pay the premium. This is the amount of money you will pay for the insurance coverage. Make sure to keep a record of the payment for your records.
Having handyman business insurance is essential for any handyman business owner. It provides a great deal of protection from potential liabilities that can come with any job and ensures that they are covered in the event of an accident or injury. It also provides peace of mind to the business owner, knowing they are protected should there be a claim or lawsuit.
Pascal Burke Insurance Brokerage Inc. specializes in insurance for contractors and construction-related businesses, including handyman businesses in the United States. Get in touch with our specialists to learn more about our handyman business insurance solutions!