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Key Takeaways:<\/strong><\/p>\n If you have the carpentry, plumbing, electrical, and general maintenance skills and like being your own boss, being a handyman (or woman) sounds like a great job! You get to set your own schedule, choose your projects, and experience the independence of being a business owner.<\/p>\n But it\u2019s more than that, it\u2019s a business\u2014and with any business, there are risks and responsibilities. Since working as a handyman means being an independent contractor, there are financial considerations needed to protect yourself. Although you hope to never have problems or issues come up, sometimes things happen that could bring costly lawsuits, financial losses, and reputational damage.<\/p>\n That\u2019s where Handyman Insurance comes in\u2014it protects you from the unpredictability of the handyman profession, including being injured on the job, accidentally damaging someone else\u2019s property, and so much more.<\/p>\n When you ask yourself, \u201cWhy do I need Handyman Insurance?\u201d, it\u2019s to protect you on many levels so that you are prepared should something bad happen. Luckily, insurance providers<\/a> recognize this profession and its potential problems and have developed cafeteria-style policy options that allow each person to customize their coverage in the most beneficial way.<\/p>\n Let\u2019s take a look at the six main types of insurance coverage that you will want bundled into your Handyman Insurance policy:<\/p>\n As an example of why general liability insurance is needed\u2014if a customer accidentally trips over equipment or tools left by the handyman, this insurance will cover the medical bills and any legal costs.<\/p>\n Think of Handyman Insurance as a great, big safety net protecting you and your personal assets in case of a catastrophe or unexpected situation while working. Here are some of the things that can happen while you are working for a client:<\/p>\n It is always important to only accept jobs within your skill set and only what you are comfortable performing with the resources you have available. While accidents happen, don\u2019t invite trouble by overextending yourself or your crew.<\/p>\n With Commercial Property Insurance, you are protected from theft, either on the job or while tools are being stored and will be able to quickly replace your tools and equipment.<\/p>\n With an inherent risk of injury and\/or property damage, people skilled in maintenance, construction, and general handyman activities need good insurance to protect themselves and their loved ones. Here are some of the other business insurance handyman needs and requirements impacting tradespeople when it comes to being an independent businessperson.<\/p>\n Be sure you understand the difference between employees and independent contractors. The IRS has definitions<\/a> that cover how you define a worker\u2019s hours, workload, and how the work is to be accomplished, etc., and these definitions can be used against you if there is a claim made for an injury that you didn\u2019t cover through insurance.<\/p>\n When it comes to managing handyman insurance cost<\/a>, it\u2019s important to establish a relationship with a good insurance agent that\u2019s knowledgeable about the requirements and options for independent contractors and handymen and women. You want someone who will take the time to explain the different types of coverage available and the benefits of each.<\/p>\n Using a marketplace leader, like einsurance.com<\/a>, you can find the best price quotes and agents to choose from\u2014then work with your selected agent to help you obtain the best tailored coverage that fits your unique circumstances.<\/p>\n Each insurance company has different premium structures that influence your costs and take into consideration things like scope of work and number of employees. It\u2019s also a good idea to employ regular policy reviews as your company grows, since changing circumstances will lead to necessary adjustments in coverage and premium costs.<\/p>\n While Handyman Insurance costs will vary by the types of coverage you want, the deductibles you choose, your location, coverage limits, claims history, and size of your business, the general policy can range on average from $400 to $1,500 or more per year.<\/p>\n This will leave you extremely vulnerable and could be personally devastating if your business has a problem. It will leave you personally responsible for possible damages, medical expenses, legal fees, and more.<\/p>\n Yes\u2014full-time, part-time, any time\u2014if you are working as a handyman, it\u2019s important to carry insurance that will protect you in case of problems.<\/p>\n You should be able to contact your insurance agent or company and request a Certification of Insurance, or COI, which demonstrates that you have a policy in force. Many clients will require you to show or post your COI throughout your project so that information is available if needed.<\/p>\n It depends on your state and local jurisdictions. Most post their requirements online to make it easy for everyone to see their obligations.<\/p>\n Ensuring comprehensive handyman insurance is the best way to protect your business as an independent contractor. It allows you to safeguard your business, your property and equipment, and your reputation as your business grows.<\/p>\n\n
The Nuts and Bolts of Handyman Insurance<\/h2>\n
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So, What Types of Issues are Covered by Handyman Insurance?<\/h2>\n
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Requirements for Handymen and Handyman Insurance<\/h2>\n
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Finding a Good Insurance Agent<\/h2>\n
A Couple of Quick FAQs<\/h2>\n
What does Handyman Insurance cost?<\/h3>\n
What happens if I choose to not carry Handyman Insurance coverage?<\/h3>\n
Do I need Insurance if I am a part-time handyman?<\/h3>\n
What if I have coverage, but don\u2019t have a way to prove it?<\/h3>\n
Is Handyman Insurance required by law?<\/h3>\n
Some Final Thoughts<\/h2>\n