Handyman Insurance

Handyman insurance is necessary for the success of your handyman business. All the professional and reputable handymen advertise themselves as "licensed and insured". If you want to establish a good, solid customer base you are going to have to get insured. Not only does it give your business the competitive edge but it protects you when things go wrong.

• What is liability insurance?
  This handyman insurance covers you if you accidently injure someone while doing your job or if your handyman work accidentally injures someone. For example if your shelving collapses, due to either faulty products or workmanship, you are covered if someone gets injured. It also provides protection against damage to a customer's property. If you spill paint all over the Persian carpet you will be covered! Basically liability insurance will protect you and your business against any legal claims associated with accidents, injuries and perceived negligence.
• How much liability insurance do I need?
  Many states demand a certain amount of insurance before you can get licensed as a handyman. Some contractor licensing boards require you to obtain insurance on estimated annual income. Other areas demand you get both insurance and a bond. There is often a state mandated minimum amount of insurance you need as a handyman. However you should also consider your own particular situation when deciding how much handyman insurance you need. What area are you working in? If it is a wealthy area there is a greater risk of expensive property damage. What services are you offering? The risks for a carpenter are generally less than for an electrician. You should get at least $250 000 of liability insurance. Most handymen opt for insurance of $1 million. Many commercial jobs will require you to have general liability coverage of at least $1 million. This may sound a lot but liability insurance of this amount can cost you less than $50 per month.
• Where do I purchase handyman insurance?
  Shop around for the best policy for your business. Several websites allow you to compare policies and prices such as www.comparethemarket.com. You can research insurance companies on your state's Department of Insurance website to check out their credibility.

• Workman's Compensation Insurance A number of areas mandate this by law but a handyman should protect himself (and any employees) against getting injured while working. The cost for one person for workman's compensation insurance is very little but it will cover workplace related injuries which can be very costly. Find out if your area requires workman's compensation insurance by visiting your state insurance department website at www.naic.org
• Commercial Vehicle Insurance This is advisable if you use your vehicle for working purposes. Accidents that occur while you are using your vehicle for business purposes are usually not covered by your existing automobile policy.
• Theft Insurance You can consider purchasing theft insurance on your tools and equipment. These are your livelihood and are easy for people to steal. Business premises and contents insurance covers you for loss or theft of property in your home or elsewhere. It is important to note that a standard homeowners policy will most likely not cover your handyman business assets.

Find out how to get your Handyman License

The basic guide to Starting a Handyman Business

Read what experienced handymen advise about Starting a Handyman Service

Find out about Handyman Rates

How to get Handyman Work

Find out how to go about advertising and marketing your Handyman Business

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Protect your handyman business with handyman insurance.

Establish your own income with a handyman business

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