Handyman Insurance: Is it really necessary?
Are you a fix-it-type of person that everyone calls when something needs repaired?
You may have not even stopped to think about it, but you are essentially acting as a handyman. Installing doors and windows, fixing plumbing leaks for friends and neighbors, trimming trees, and fixing the sprinkler system, are all tasks that people hire out for frequently.
If you have been performing these services either out of the goodness of your heart or for pay, you should consider taking out some basic handyman insurance at the very least.
General liability insurance covers damages to your client’s property and belongings if you accidentally break something. Say you are installing a picture window and lose your grip. The window falls out in the driveway below, shatters into a million pieces, and takes out the car windshield. Liability differs from state to state; however, having at least general liability could save you potentially a great deal of money in the form of lawsuits for damages and hard feelings.
Factor in that this type of insurance can be invaluable as it will replace stolen tools and equipment. As an added bonus, general liability insurance for a handyman covers medical expenses if anyone is injured in the process of your work as well as legal expenses, including judgments.
If you are paying someone to help you with your repairs and side jobs, you will need to look at Worker’s Compensation insurance. This insurance covers your employee in case of an accident where they are injured on the job. Without this insurance, you could be sued for medical bills and lost wages for the injured employee.
Technically if you are working alone in some states, you are not required to carry workers’ compensation; however, if you are injured, it would be a good idea to have this insurance cover accidental injury for yourself.
Short Term Protection
Did you know that you can even get insurance for just a day? If you are an occasional handyman who doesn’t often work doing repairs and odd jobs but wants to make sure that you are covered in the event of damages or accidents, you can actually get general liability insurance for just one day. For more information, look online for a company offering short-term policies for general liability insurance.
Commercial Auto Insurance
If you have a vehicle or work truck that you commonly use for business and hauling around equipment and tools, you should seriously consider obtaining commercial auto insurance. It could be very costly to replace stolen tools and equipment if not insured, which would not be covered by a regular auto insurance policy.
Peace Of Mind
Accidents happen and could be catastrophic to your finances without the ability to cover the damages. Having handyman insurance will provide you with peace of mind in knowing that you are covered if an accident causing physical harm or property damage occurs. Even if you do only occasional jobs investing in short-term handyman insurance can be an invaluable asset to your reputation and your wallet. Consider researching handyman insurance in your area today.
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