Buy Handyman Insurance

Handyman insurance is a type of insurance that provides financial protection for handymen and other small business owners who provide home repair and maintenance services. It typically covers things like liability for damages or injuries caused by the handyman's work, as well as damage to tools and equipment.

It may also include coverage for lost income in the event that the handyman is unable to work due to an accident or illness.

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small handyman businesses ranges from $37 to $49 per month based on location, size, payroll, sales and experience.

Handymen need insurance for a variety of reasons. Firstly, it protects them financially in the event of any accidents or injuries that may occur while on the job. Without insurance, a handyman could be held personally responsible for any damages or medical bills, which could be financially devastating.

Additionally, insurance provides protection for the handyman's tools and equipment. If these tools are damaged or stolen, the handyman would need to replace them out of pocket without insurance coverage. This can be a significant financial burden, especially for those who rely on their tools for their livelihood.

Another reason why handymen need insurance is to protect themselves and their clients from liability. If a handyman makes a mistake or error while working, they could potentially be held liable for any damages that result. Insurance coverage can provide protection in these situations, allowing the handyman to focus on their work without worrying about the potential financial consequences.

Overall, handyman insurance is an essential component for any handyman's business. It helps protect them, their clients, and their tools, ensuring that they can continue to work without worrying about financial risks.

Handymen may need several types of insurance, including:

• General Liability: This type of insurance covers damages or injuries that occur on a job site. It also covers any legal costs associated with a claim or lawsuit.
• Workers' Comp: This type of insurance covers medical expenses and lost wages for a handyman who has employees that are injured on the job.
• Business Owner's Policy: This type of insurance combines general liability insurance with property insurance for a handyman's business.
• Professional Liability: This type of insurance covers mistakes or errors made by a handyman while performing their work.
• Commercial Autoe: If a handyman uses a vehicle for business purposes, they will need to have auto insurance coverage.

In addition to the types of insurance mentioned above, handymen may also want to consider purchasing additional coverage such as:

• Equipment and Tools Coverage: Handymen rely on their tools and equipment to complete their work, so it is important to have insurance coverage in case of theft, damage, or loss.
• Business Interruption Insurance: This type of insurance covers lost income and expenses if a handyman's business is disrupted due to a covered event such as a natural disaster.

Overall, it is important for handymen to carefully consider their insurance needs and choose coverage that adequately protects their business and themselves. It is also a good idea to speak with a licensed insurance professional to determine the right coverage for their specific needs.

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.

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.

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.

Handymen can be sued for a variety of reasons, including:

• Property damage: If a handyman accidentally damages a client's property while performing work, the client may sue the handyman for the cost of repairs or replacement.
• Bodily injury: If a client or someone else is injured on the job site, they may sue the handyman for medical expenses, lost wages, and other damages.
• Breach of contract: If a handyman fails to complete a project according to the agreed-upon terms, a client may sue for breach of contract.
• Negligence: If a handyman fails to perform work up to a reasonable standard of care and it results in damage or injury, the client may sue for negligence.
• Fraud: If a handyman misrepresents their qualifications or the quality of their work, a client may sue for fraud.

Handyman insurance can protect against these types of lawsuits by providing liability coverage. Liability insurance will pay for damages or legal fees if a handyman is found liable for property damage, bodily injury, breach of contract, negligence, or fraud. Here are some examples of how insurance can help pay for a lawsuit:

Property damage: If a handyman accidentally damages a client's property while performing work and is sued for the cost of repairs or replacement, their liability insurance will cover those costs up to the policy limit.

Bodily injury: If a client or someone else is injured on the job site and sues the handyman for medical expenses, lost wages, and other damages, their liability insurance will cover those costs up to the policy limit.

Breach of contract: If a handyman is sued for breach of contract because they failed to complete a project according to the agreed-upon terms, their liability insurance may cover legal fees and damages up to the policy limit.

Negligence: If a handyman is sued for negligence because they failed to perform work up to a reasonable standard of care and it resulted in damage or injury, their liability insurance will cover those costs up to the policy limit.

Fraud: If a handyman is sued for fraud because they misrepresented their qualifications or the quality of their work, their liability insurance may cover legal fees and damages up to the policy limit.

It's important for handymen to have liability insurance to protect themselves against potential lawsuits. Without insurance, they would be personally responsible for any damages or legal fees, which could be financially devastating.