There are more than 91,000 handyman services in the US, so if you want to stand out, you’ll need to offer something the rest don’t have. In many cases, that extra something is simply the right insurance coverage, since not all cities require handymen to be insured. But they should be if they want to protect themselves and their customers, as well as if they want the ability to bid for big jobs that require insurance.
If these perks appeal to you, it’s time to figure out what insurance you need as a handyman. In most cases, you can start with general liability and add coverage from there. Here’s what coverage you can expect when you get general liability insurance as a handyman.
When you’re working with tools and equipment in a customer’s home or business, there’s always a chance someone will accidentally get hurt during the job. Whether a customer steps on a nail you dropped while hammering or your ladder falls on a passerby, you’re going to be considered responsible for the medical bills and any missed wages that occur as a result.
But if you have handyman insurance with general liability coverage, the bodily injury portion will pay those costs for you. It will also pay for your legal fees if the injured person takes you to court due to the incident. Basically, you need general liability if you want to make sure any job-related injuries are covered for your customers.
As a handyman, your goal is to fix houses, not damage them. But you might make a mistake that does exactly that. When that happens, you’ll be relieved to have general liability for your handyman services. For instance, if you’re trying to fix some drywall at a customer’s house and accidentally end up with a bigger hole in the wall, the property damage portion of general liability will pay for repairs.
And if you lose your grip on your hammer and it dents a nice piece of furniture, your business insurance will pay to repair or replace the item. Considering how much time this job requires you to spend on other people’s property, you definitely need property damage coverage in this field.
Products and Completed Operations
Another reason to get general liability for handyman services is that you have coverage on jobs you’ve already completed. Let’s say you fixed a customer’s leaky roof several months ago and were already paid for the job, and now he or she is complaining that the roof still leaks or is even worse off than it was before.
Maybe it’s even damaged the floor below the leak. If the customer is demanding further repairs to the roof and floor, your products and completed operations coverage will pay for this. That way, you don’t have to lose money on the job, and you may even be able to avoid a bad review if the customer gets the repairs as requested.
Damage to Rented Business Property
If you’re renting space for your handyman business, you need to protect it with general liability coverage. More specifically, you need the portion that covers damage to rented business property. This way, if you’re renting an office where you can store your tools and meet with customers to plan your jobs, you won’t have to pay for any damage out of pocket if there’s ever a fire, vandalism, or other incidents that might occur.
Personal and Advertising Injury
As a business owner, you might face accusations from people over the years. Even if you know they’re untrue, you still need to defend yourself, and that can cost money. That’s why you need personal and advertising injury coverage as part of your handyman insurance policy. With this coverage, if someone accuses you or an employee of slander or libel, your insurance policy will pay for your legal fees.
The same goes if a competitor alleges that your advertising efforts have damaged their reputation or harmed them in any other way. General liability can pay for your court fees and any settlements you owe at the end of the lawsuit, which can save you thousands of dollars as a business owner.
Clearly, general liability has a wide range of coverage that you might end up needing to use as a handyman. That’s why it’s important to get liability insurance at the very least. You can also add on other types of coverage, such as commercial auto and worker’s comp. To learn more about your options or to get a quote, contact a local insurance agency today.