Insurance is essential for all types of businesses. This includes all businesses like small, medium, and large ones. Many expenses in case of emergencies will be cut down when a company is properly insured. A handyman is a person who fixes, repairs, and replaces necessary parts in the everyday household. It is possible to encounter a minor injury, damage, or even malfunction. A legal claim from the customer’s side is also expected.
This is why handyman insurance plays an important role.
Most of the small businesses nowadays use insurance as a part of branding too. It is also necessary to impact the customers along with premium services. With an insured handyman, there are no liability issues.
About handyman insurance
There is no separate insurance policy for handymen. While speaking about this insurance we consider the policies that are suitable for handymen. These insurance policies are mainly associated with businesses and contractors. Here are a few insurance products that will be suitable for a handyman.
- General liability
- Workers compensation
These will be essential to compensate for the unexpected losses in the job.
What it covers
It is possible to get insurance in this line of work as it is highly essential. There are different policies for business on this scale. All these insurance policies will work to provide cover for the following reasons.
- Coverage against physical damage or property loss.
- Damage caused by the workers or to the workers while in the course of business
- Claims gave by the employee due to vehicular injury while in business
- Loss, damage, and theft of machinery or equipment
- Injury due to third-party
All of the mentioned reasons cannot be predicted. This is why having insurance helps you a lot.
Exposure and risks
The job of a handyman involves a few exposures and risks. This can be dealt with handyman insurance quote. Some of them are mentioned here.
- Crime exposure
This can be faced by a third party. It can be a result of dishonest employees too. Safety measures for equipment and company property should be considered. Background checks, work experience are a few of the factors to consider while hiring employees.
- Auto exposure and risks
While transporting goods and employees there is a risk of damage. Equipment damage is also included. Proper maintenance and regular checking of vehicles are necessary to avoid these risks.
- Worker compensation exposure
As a handyman, this type of exposure is quite common. This includes injuries of employees while they are at work. It can be cuts, accidents, wounds and muscle sprain, etc. In these cases, precautions are to be taken. Wearing helmets, protective glasses and gloves are to name a few.
These are some of the risks faced by handymen in contracting companies.
This concludes why insurance for a handyman is very important. This will protect your company against all types of liabilities and risks. It is possible to carry out a risk assessment to determine the type of insurance needed for your business.