Handyman Insurance Ohio. A "handyman" or "handyperson" is an unlicensed contractor who offers home maintenance, small home repairs and simple installation services. They may do minor carpentry, plumbing, electrical work, painting, plastering or drywall work, but nothing requiring a license or permit. Specialties such as roofing, air conditioning or furnace installation do not fall into the job description of a handyman.
At some point in time, everyone needs the services of a handyman, and your handyman business likely fills a need in your neighborhood and community. But are you protecting yourself, your assets, and your business against potential litigation and loss?
If not, then you need a business insurance review with a seasoned agent to determine your business' areas of weakness and correct them with policies designed for your individual business' needs. Handymen do a wide range of work and you to be sure your policy covers you for what you are doing.
Handyman insurance Ohio protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
If you work as a carpenter, plumber, home maintenance helper, electric installer, flooring professional, or contractor, then you likely need handyman insurance Ohio that's tailored to the risks that you face in your line of work. Packaged coverage that protects you from particular perils is important, since it can make a difference between personal and business financial ruin and staying afloat with a business model that works.
As a handyman, you and your business face many common risks each day. The type of services you offer largely dictate the risks you face, but some are common, including:
Handyman insurance Ohio is a generic term that is used to describe the suite of insurance products that a handyman might consider during the course of his business to protect his assets and guard himself from personal liability. Perhaps the most important of these is a general business owner policy, or BOP policy. This coverage is ideal for those businesses with fewer than 100 workers and revenues of less than $5 million annually. BOP policies cover business property damage, personal property damage, loss of income due to covered stoppages of work, general liability to property, and general bodily ideury to employees and others.
Besides a BOP policy that provides the general coverages, your business may need additional addendums or policy riders to cover your business activities. Sometimes these policies are also purchased as standalone coverage alongside a general liability or BOP policy. For example, inland marine covers will cover rented or owned tools and equipment as your workers move from one job to another, while theft insurance protects equipment, vehicles, and tools. OH agents who look over your particular business model are better able to deduce what types of handyman insurance Ohio policies your business should buy.
It is possible for some handyman businesses to cover their businesses fully with just a general liability insurance policy. For handymen who have no office buildings to protect, no operating expenses and no payroll, OH general liability insurance may be sufficient. This type of policy covers damage and bodily ideury caused by you or others working on your behalf when you perform work.
One of the biggest concerns for repairmen, handymen, contractors, painters, and others who provide in-home services is liability. These workers use power tools, hand tools, electric saws and other types of equipment that can cause ideury to both the property in which they work and the people around them. Having the right level of handyman insurance Ohio protection in place makes good business sense.
OH requires that businesses carry worker's compensation insurance for all non-owner employees. Check with your insurance agent to make sure that you stay compliant with any laws governing the purchase of worker's compensation insurance, which protects you and any employees from damages resulting from work-related accidents and ideuries.
You no doubt use a vehicle in your line of business as a handyman, so protecting that vehicle with OH commercial auto insurance is important. Personal auto policies do not usually cover accidents that occur in the course of doing business in a personal vehicle. Check with your agent to make sure that your commercial insurance is up to par and that it protects you as you drive from job site to job site.
Most commercial vehicle insurance policies cover bodily ideury and property damage liability. If you purchase collision and comprehensive coverage, then your vehicle is protected regardless of whose "fault" the accident is. Some policies also cover theft and damage to the vehicle from vandalism, acts of nature, and related occurrences.
Premises liability exposures at the contractor's shop or office are generally limited due to lack of public access. Off-site exposures include potential bodily injury to the client or damage to the client's property. Tools, power cords, building materials and scrap material all pose trip and fall hazards even when not in use. Use of saws and other power or hand tools may be hazardous due to sharp edges and moving parts.
If there is work at heights, falling tools or supplies may cause bodily injury and property damage if dropped from ladders and scaffolding. If woodworking is part of the job, the buildup of dust and scraps can result in fire and explosion. Disposal of waste materials (dust, scrap, varnishes or paints) could create an environmental hazard. There may be significant contractual liability exposures if the handyman is responsible for finding licensed contractors to handle jobs outside the handyman category.
Completed operations liability exposures should be fairly minor since handymen usually do not handle or install items where incorrect installation would result in significant damage. It is important for a handyman to work or perform duties within his or her ability. Clear guidelines should be established with clients as to what jobs can and cannot be completed by the handyman.
Property exposures at the handyman's own location are generally limited to an office plus storage for tools, materials, equipment, and vehicles. If the handyman does shop woodworking or repairs for customers, fire can result from the flammability of wood, paints, varnishes, and wood dust.
Crime exposures are from employee dishonesty. Background checks, including criminal history, should be performed on all employees providing services to customers or handling money. All ordering, billing and disbursement should be handled as separate duties with reconciliations occurring regularly.
Inland marine exposures include accounts receivable if the handyman offers credit to customers, contractors' equipment and tools, goods in transit, installation floater, and valuable papers and records for customers' and suppliers' information. A handyman's tools and equipment may represent the majority of the physical assets. Since the handyman is not a specialist, a variety of tools is needed. Tools travel with the contractor and are not normally left at the jobsite.
Business auto exposures are generally limited to transporting workers, equipment and supplies to and from the job site. Since most jobs are small, the handyman may drive to several job sites during one day. The exposure could increase if the radius of operation is large or if there are any service time guarantees. MVRs must be run on a regular basis. Random drug and alcohol testing should be conducted. Vehicles must be well maintained with records kept in a central location.
Workers compensation exposures vary depending on the size and nature of the job. Work with hand tools and sharp objects such as saws, chisels and nails can result in cuts, piercings, and accidental amputation. Electrical work can result in burns or electrocution. When work is done on ladders and scaffolds, there is a potential for severe injury or death from falling, being struck by falling objects, or adverse weather conditions. Back injuries, hernias, strains and sprains can result from lifting.
If you're an entrepreneur, you know how important it is to research the location where you plan on setting up shop. No matter how how-quality and valuable the products and/or services your business offers may be, if you're situated in an area that isn't suitable for your operation (the wrong target demographic, a poor market, etc.), you just aren't going to achieve the success that you're hoping for.
If you're considering Ohio for your headquarters or for a new branch of your business, you definitely want to take the time to research the area before you set up shop. Below, we'll take a look at the economic trends of the Buckeye State, including employment rates and key industries that are thriving in the area. We'll also highlight some of the key forms of commercial insurance business owners need to carry when operating in Ohio.
The Buckeye State has seen a marked increase in job growth, which is indicated by the record low unemployment rate. According to the Ohio Department of Job and Family Services, as of April, 2019, the rate of unemployment was 4.3 percent; the lowest it's been in more than 18 years. In April the previous year, the rate was 4.6 percent, a difference of .03 percent in 1 year; however, and more notably, the rate has dropped .01 percent in just one month, as it was 4.4 percent in March, 2019. July, 2001 was the last time Ohio saw such a low level of unemployment, when the rate was 4.2 percent.
In January, 2010, the rate was an astounding 11.1 percent, so it's safe to say that there has been a definite decrease in the number of jobless people in the Buckeye State, which is a strong indication of the overall economy of the state.
The greater Cincinnati area is one of the best places for businesses in Ohio, where smaller cities are seeing the largest growth. Examples include Blue Ash, Beachwood, Independence, Sharonville, and Springdale. Industries that are thriving in Ohio include:
The Ohio Department of Insurance regulates insurance in Ohio. Certain policies are mandated in Ohio, meaning business owners must carry specific types of coverage. Business owners can protect themselves, the customers they serve, the vendors they work with, and their workers from various risks by investing in the right type of insurance coverage. Coverages that are required include:
Workers Compensation - Most Ohio businesses with employees are required to pay for workers comp. If your OH business has just one employee, you're probably required to carry workers' compensation insurance. In Ohio, workers' compensation insurance is provided through the state - rather than through private insurance companies.
Other forms of insurance that business owners may be required by contract or municipality. The amount of coverage business owners need to carry for each policy vary and depend on a variety of factors, including the size of the operation, the number of employees, and the nature of operations.
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
A contractor that wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Physical damage coverage for tools, supplies and equipment, both on and off the contractor's premises, is a concern. Liability exposures at the premises of the contractor, and at the premises of the contractor's customer, must be properly addressed along with completed operations. Business insurance is very important as is workers compensation insurance protection for employees.
Contractors may work under a general contractor as a subcontractor in larger construction projects - like a new commercial site or residential subdivision. They can work on smaller projects directly with a home owner, usually specializing in renovations or remodels.
In business insurance speak, often called 'artisan contractors' or 'casual contractors', they are involved in many aspects of construction and contracting work – and include various trades and skills. Carpenters, painters, plumbers, electricians, roofers, tree trimmers, landscaping are just a few examples. They may do roofing, fencing, drywall, tile work and many other trades that involve skilled work with tools at the customer's premises.
An artisan contractor performs a single trade or job, and each has its own specialized liability needs with its own exposures to risk and accidents. Contractors liability insurance can offer coverage for bodily injury, property damage, advertising injury and medical payments.
Most artisan contractors should have commercial general liability at the very least, but many need broader coverages - like an umbrella to increase their limits of liability, inland marine policy to protect their tools, workers compensation if they have employees, and even commercial auto if they use vehicles for business purposes.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.
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Also learn about Ohio small business insurance requirements for general liability, business property, commercial auto & workers compensation including OH business insurance costs. Call us (614) 407-1774.