As a handyman, you face numerous risks every day. From causing property damage to injuring a client, accidents can happen anytime. That’s why you need insurance to protect your business and your clients. In this second part of our article, we’ll discuss four more must-have handyman insurance policies.
Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance, protects you if a client sues you for negligence, errors, or omissions that cause them financial loss. For example, if you install a new roof that leaks, your client may sue you for the cost of repairing the damage. Professional liability insurance covers legal fees, court costs, and settlements or judgments. It also provides peace of mind to your clients, knowing that they are protected in case something goes wrong.
Handyman Bonds
A handyman bond is a type of surety bond that guarantees you will complete a job according to the contract terms. If you fail to meet the terms of the contract, the bond will cover the cost of completing the job or compensating the client for any financial loss. Handyman bonds are often required by law or by clients, especially for large projects. Having a handyman bond also shows your clients that you are a trustworthy and reliable business.
Business Interruption Insurance
Business interruption insurance, also known as business income insurance, provides coverage if your business is unable to operate due to a covered event, such as a fire, flood, or natural disaster. It covers lost income and operating expenses, such as rent and utilities, while your business is closed. This type of insurance can be crucial for a handyman business, as you may not be able to work if your tools and equipment are damaged or destroyed.
Inland Marine Insurance
Inland marine insurance, also known as tools and equipment insurance, covers your tools and equipment while they are in transit or stored at a job site. This type of insurance is essential for a handyman business, as your tools and equipment are your livelihood. Inland marine insurance covers theft, damage, or loss of your tools and equipment, allowing you to replace them quickly and return to work.
Conclusion
As a handyman, you face many risks, and accidents can happen anytime. Having the right insurance policies can protect your business and your clients from financial loss and provide peace of mind. Professional liability insurance, handyman bonds, business interruption insurance, and inland marine insurance are four must-have handyman insurance policies. Make sure to consult with an insurance professional to determine the best coverage for your business.
Pascal Burke Insurance Brokerage Inc. is here to provide you with handyman insurance in Arizona. Get a FREE quote from us today!
As a handyman, you face numerous risks every day. From causing property damage to injuring a client, accidents can happen anytime. That’s why you need insurance to protect your business and your clients. In this second part of our article, we’ll discuss four more must-have handyman insurance policies.
Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance, protects you if a client sues you for negligence, errors, or omissions that cause them financial loss. For example, if you install a new roof that leaks, your client may sue you for the cost of repairing the damage. Professional liability insurance covers legal fees, court costs, and settlements or judgments. It also provides peace of mind to your clients, knowing that they are protected in case something goes wrong.
Handyman Bonds
A handyman bond is a type of surety bond that guarantees you will complete a job according to the contract terms. If you fail to meet the terms of the contract, the bond will cover the cost of completing the job or compensating the client for any financial loss. Handyman bonds are often required by law or by clients, especially for large projects. Having a handyman bond also shows your clients that you are a trustworthy and reliable business.
Business Interruption Insurance
Business interruption insurance, also known as business income insurance, provides coverage if your business is unable to operate due to a covered event, such as a fire, flood, or natural disaster. It covers lost income and operating expenses, such as rent and utilities, while your business is closed. This type of insurance can be crucial for a handyman business, as you may not be able to work if your tools and equipment are damaged or destroyed.
Inland Marine Insurance
Inland marine insurance, also known as tools and equipment insurance, covers your tools and equipment while they are in transit or stored at a job site. This type of insurance is essential for a handyman business, as your tools and equipment are your livelihood. Inland marine insurance covers theft, damage, or loss of your tools and equipment, allowing you to replace them quickly and return to work.
Conclusion
As a handyman, you face many risks, and accidents can happen anytime. Having the right insurance policies can protect your business and your clients from financial loss and provide peace of mind. Professional liability insurance, handyman bonds, business interruption insurance, and inland marine insurance are four must-have handyman insurance policies. Make sure to consult with an insurance professional to determine the best coverage for your business.
Pascal Burke Insurance Brokerage Inc. is here to provide you with handyman insurance in Arizona. Get a FREE quote from us today!