Handyman work can come in a lot of shapes and forms. At the end of the day though, it can all be potentially dangerous work.
Even simple tasks can have their risks so it is important to be prepared in every way possible.
Investing in even basic handyman insurance is a recommended way to grow your business. Whether it is a simple install for a neighbor, or you intend to pick up some finishing contracts, it is always in your best interest to protect yourself. There is also an added level of protection and security for your clients, making you a great person to do business with.
1.Some States Require Handyman Insurance
Workers compensation type of insurance is required when you have employees. Worker’s compensation should definitely be considered, even as a self-employed independent contractor, if the work that you do poses the risk of injury. This can help cover you or an employee in the event that an accident occurs and prevents you from going back to work.
2. Volume Of Work Can Increase Risk of Injury
You should consider handyman insurance when you do a significant amount of work. An increased work volume increases the odds of potentially damaging equipment or property. Also, a high work volume usually leads to needing extra hands, so it is a good idea to be prepared to cover potential employees.
3. You’ll Be Prepared For Everyday Problems
General liability insurance is a minimum standard in some states and should be considered by any handyman, whether they are working for themselves as an independent contractor, or they are the employer of others. This is a high risk profession; accidents may happen, so it is a good idea to be prepared to cover the cost of potential property damage, or injury that may occur.
4. Handyman Insurance Is Not The Same As Personal Insurance
Although there are some obvious similarities, such as medical coverage in the event of injury, not all insurance policies are the same. Handyman insurance can cover you for work related activities that may not be covered by your personal insurance policy such as: your new work truck having a blind spot or an expensive tool breaking.
5. You Can Protect Your Business
In general, handyman insurance is pretty affordable. Like any insurance policy, it’s best to shop around and research a company that fits your needs. Insurance is invaluable in the face of an emergency. A relatively minimal, annual business expense can save your business thousands. Sometimes a simple job can become complicated by unforeseen problems. If there is costly damage, or a significant part to be replaced, insurance can keep you in business without wiping out your entire budget.
Invest In The Future Of Your Business
Protect your business from the everyday struggles that come with your profession. No matter how many OSHA safety meetings you attend, you can’t prevent every single accident from happening. You can however, be ready to tackle your problems as they arise, and be better prepared to keep growing your business when it happens. Investing in insurance is the smartest way to protect not only yourself, but your business, your profits, and any potential employees. Get a quote from an insurance broker today.
