Growing up, I spent a lot of time in my Dad’s shop. He would get home Friday afternoon (assuming we did not have a sporting event to go to) and would almost immediately head down to his work bench. On it you would find a wide array of science experiments and toy prototypes (he was a toy designer) but mostly he would be working on home improvement projects.
He was also the neighborhood handyman and made quite an impact in our community despite the dangers associated with being a jack of all trades. Luckily, nothing too negative ever occurred but that does not mean you should not look to protect yourself. As a professional handyman you will probably find yourself in danger often, and, when it strikes you need to be prepared. Here are the insurance policies you need to keep you and your company in business.
General Liability Insurance
If a handyman could be an insurance policy, they would probably be a general liability policy. General liability will protect you from a wide array of trying circumstances; specifically, if you cause damage to an off-site work location or if someone is injured on your premises. It will also cover you in the event of a lawsuit as it pays for legal fees and any settlement costs. No contractor should leave for work without a liability policy so be sure to include this in your insurance portfolio.
Workers’ Compensation Insurance
Workers compensation is one of the most recognizable insurance policies that we provide (and also one of the most useful). Not only is workers comp required by law in most states but it will also cover you (and your employees) in the event of a work related injury. Workers comp will pay your medical bills and will provide the injured employee with up to two-thirds of their annual income. If you do not currently have this policy be sure to acquire it immediately.
Commercial Auto and Truck Insurance
If you rely on a car or truck to transport your equipment or employees you will need a commercial auto insurance policy. Losing your vehicle could be debilitating for your business but with this policy you will not have to worry about the cost to repair your damaged vehicle. Commercial auto and truck insurance will ensure that you are covered in the event of an accident so that you can get back to work as soon as possible.
If you are a handyman we urge you to get handyman insurance in order to best protect yourself in a high risk industry. If you have any further questions please feel free to give us a call at 1-800-9094. We look forward to hearing from you!