Did you know a handyman insurance policy could protect you from the repercussions of property damage? Explore five other facts that will help you stay protected as a small business owner today.
As the owner of a handyman business, you often think, “I could fix that.” However, your next thought might be, “Am I covered to fix that?” Handyman insurance policies are complex and confusing as most insurance policies are. You might want to know if you’re covered or if you should be more covered than you are.
On the other hand, maybe you’re looking to pare down and save money where you can. Today, we’re sharing seven tips and facts that no all insurance agencies might remember to tell you from auto policy information to workers compensation insurance laws. These five tips should get you well on your way to being covered and protected, whether that’s a handyman liability insurance policy or ten more.
Five Facts About Handyman Insurance
- Handyman insurance is more than one type of policy. Most handyman businesses with more than one person will need general liability insurance, workers compensation, commercial auto insurance, and maybe even professional liability. Handyman insurance is a grouping of insurance coverages that protect you completely. The type of work you do and the size of your business will determine what you need for your handyman work.
- Personal auto doesn’t always cover business work. If you have personal auto insurance and drive your car every day for work, then you might not be covered. Check with your insurance agency to see if you’ll need to add commercial auto to your handyman insurance cost or if you can upgrade your auto insurance just a bit for maximum coverage and savings.
- Workers compensation is required if you have one employee. In most states, you’ll find that having one employee will mean that you need workers compensation. Should an employee sustain a bodily injury on a job site, your insurance will help you pay for medical bills and lost wages during the time they are gone.
- You might have to tell clients if you are insured or not by law. If you live in certain states, you might be required by law to let a new client know if you are insured or not. If you choose to remain without handyman insurance in the form of at least general liability insurance, then you could have lost jobs on your hands. As such, having the right insurance policies can get more jobs in the long run!
- Always look for multiple insurance quotes. When you are looking for insurance policies, you should always obtain multiple handyman insurance quotes. Business owners policies are complex and can never be guaranteed to be the best deal on the first go-round. Also, you should always have access to a free quote, so finding insurance is as easy and shopping around for business insurance.