As a business owner, there is an I word that you might not like. That word is insurance, more specifically, business insurance. Though it can help your business in a time of disaster, it’s cost might worry you and that’s understandable.
There are a lot of confusing words, papers to sign, and headaches to handle whenever it needs to be dealt with. However, there is no need to worry. The world of handyman insurance is changing and for the better. It’s now easier to get the insurance policy you need in a way that you can understand.
Today, we’re going to go over three top myths that are pervasive within the business insurance world as well as the realities that should help you to understand the situation better.
Myth One: All Insurance is Equal
There is a large belief that insurance is equal, no matter what type you get or what you end up paying. In reality, that couldn’t be further from the truth.
When you look at insurance policies, you will see names like “general liability insurance,” “handyman insurance,” commercial auto insurance,” and more. Each of these types of insurances will have different coverages based not only on their type but also on what you need.
Every handyman business owner should have general liability; however, thinking that it’s the same as everything else can keep you from being covered if you receive claims of property damage, bodily injury, or even medical payments!
Before purchasing your insurance, make sure that you take a look at the outline the insurance company put together. This should tell you what is included and excluded as well as what your coverage limit is as well.
Myth Two: Insurance policies are Only Important if You Have a Claim
We’ve heard clients say in the past that the insurance is only around for when something goes wrong and costs lots of money when everything goes right. However, insurance has some other benefits that many people don’t often think about.
When you have workers compensation or any other type of insurance coverage, you are showing people that you care. With workers compensation insurance, you are showing your employees that you want to ensure that their line of work is protected and that they can afford their medical bills should something happen.
On the other hand, if you are performing handyman services and you have proof of insurance, you could win more jobs from clients. Being confident and showing potential employers, contractors, or clients that you have insurance will show that you are protected should something happen, which means they are as well.
Myth Three: You Have to Talk to Someone in Person
In the days of your father’s handyman business, insurance was something that people did in person. You had to go into the company, talk to an agent, get a quote, read the paperwork, and sign for your new handyman insurance coverage.
Now, things have changed. You can obtain a handyman insurance quote right on the web, review the terms, and obtain your new insurance in one day without ever leaving your computer. This lets you get back to the job site, and your handyman works faster so you can make more money.