Do you think, “I could fix that,” regularly? If that’s the case, then you might be a handyman. If you already own a handyman business, then insurance policies and saving money will be something that you think about often. If you’re thinking about getting into the business, then insurance will soon become the top priority.
Why is that? Insurance is a hot topic for handymen because they face risk daily. You’re a highly skilled worker and face all the risks associated. You might have many questions about your insurance. Maybe you want to know what you can expect to spend on handyman insurance. These ten facts should give you a great place to begin your search.
Ten Facts About Handyman Insurance
- Did you know that handyman insurance is a bundle of many types of policies? Most handyman businesses will need general liability insurance. Some larger ones might also need things like workers compensation or commercial auto insurance.
- Did you know personal auto doesn’t cover everything? If you are working out of your truck, your auto insurance might not cover that! Check with an agent to see if you need to upgrade or change to commercial auto insurance.
- Did you know that most states require workers compensation if you have even one employee? Many states, like California, will require you to have workers compensation if you have even one employee.
- Did you know that your state might make you tell if you are insured or not? If you live in certain states, you could be required by law to tell potential clients whether or not you are covered by business insurance backed by an insurance company.
- Did you know being insured is about more than being protected! Having the right insurance policies can help in keeping you in business. Companies and homeowners often look for insured businesses so you’ll start with a leg up.
- Did you know that filing a claim could make your rates go up? With insurance cost, it’s all about the risk that the insurance company takes when insurance the small business. If they have a history of causing property damage, they are charged more to be covered!
- Did you know that general liability coverage is around for protection against things like slip-and-fall claims, not professional service claims? That’s what professional liability is for!
- Did you know that you should always look for multiple insurance quotes? Business owners policies are complicated and complex. You should never assume that you got the best deal and coverage on the first shot.
- Did you know that the best way to get handyman liability insurance is through finding a free quote? You should never have to pay before you see what you will be getting.
- Did you know the insurance coverage you need will depend on the handyman work you do? Handyman work is broad and could be anything from leaky pipes to electrical. The risk you take determines that handyman insurance cost you pay.