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Handyperson Insurance

As a handyperson, you may be wondering if you need business insurance. The answer is yes! If you provide business services to others, you need to ensure that you are protected in the event of an accident or injury.

Various types of handyperson business insurance coverages are available, and the type you need will depend on the nature of the business services you offer. Keep reading to learn more about Handyperson business insurance and how it can protect you and your business!

Who is a handyperson?

A Handyperson, often known as a handyman, is an individual who does general maintenance and repairs around several different businesses or homes. The term “general repairs” may refer to various types of labor, including maintenance, odd jobs, and fix-up activities. These tasks can involve both interior and exterior house repairs/upkeep.

Their primary responsibilities include job fields such as plumbing, carpentry, painting, making repairs to corporate equipment or tools, and testing a variety of company appliances and residential appliances to verify that they function correctly.

What is handyperson insurance?

A tailored insurance policy for a handyman, or handyperson, is known as handyperson insurance. Handyperson insurance is designed to safeguard you against monetary damages, losses, and injuries wherever you operate. This coverage is available regardless of the kind of job you do as a handyperson.

Handyperson insurance is a policy personalized to represent the job that you perform and protects handypersons against the liabilities and hazards they encounter while working at a customer’s property.

Mistakes can occur, and the possibility of legal action against your company might have a very negative impact on your finances. 

If you are a handyperson, purchasing insurance may provide you the sense of security that comes from knowing that you will be able to get the financial aid you want if you are sued or if an accident or incident causes injury to a person or damage to property. 

What does handyperson insurance cover?

In most cases, general liability insurance and coverage for your tools, car, shop, and other items are included in the packages sold to handypersons. An overview is as follows:

Commercial general liability insurance

This covers you as a handyperson if the work you do results in damage to someone else’s property or leads to harm to a third party. This protection applies to all of the projects you take on. It offers protection against out-of-pocket legal expenses and the fees granted by the court.

If a customer sues you for physical injury or property damage they believe you caused to a third party, your commercial general liability (CGL) insurance policy will provide financial assistance for your legal fees and any settlements the court issues.

Commercial property insurance

Whether you run your business out of your home or have a commercial office space in another location, having commercial property insurance gives you financial protection.

This insurance policy provides coverage in the event of vandalism, severe weather, theft, or an external disaster like a fire that causes physical loss or damage to your property and the contents of your property.

Commercial auto insurance

Commercial auto coverage is necessary for any automobile, pickup truck, or cargo van used for business activities. There are similarities between the coverages in a commercial auto policy and those in private passenger car insurance.

Despite these similarities, private passenger car insurance is not intended to cover any vehicle being utilized for business reasons. This insurance policy will cover your company car in the case of an accident, theft, or damage to other people’s or company property.

Tools and equipment insurance

Your equipment is one of the most important things you possess as a handyman. Insurance for their tools and equipment is a need for every contractor or handyperson. Having your tools, equipment, and inventory insured means you’ll never be unable to do your work because of theft.

If your tools and equipment are destroyed by fire, flood, vandalism, or theft, this Insurance will pay to repair or replace them. It also covers the cost of temporary housing, allowing you to keep earning a living after filing a claim.

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Other coverages to consider when selecting a handyperson insurance plan

Pollution liability insurance

This protects you against the costs of the cleanup in the event your work results in health or environmental issues.

This can occur if you perform maintenance or installation work for a client that results in the client being exposed to potentially hazardous molds or bacteria. This type of Insurance also covers the expenses of cleaning if there is oil or chemical spillage.

Cyber liability insurance

Cyber liability insurance is a necessity if you process consumer payments online, have a website, or hold personally identifiable information.

All handyperson businesses and independent handypersons must take measures to safeguard their computer systems and data, as well as their clients’ personal and financial information.

If your computer systems or website are hacked, and your data is stolen or compromised, cyber liability insurance will help cover the costs. The insurance policy is meant to cover the price of fixing your software after a cyberattack and protect you from the financial fallout of accidental data breaches.

Business interruption insurance

The owners of handyperson businesses should absolutely invest in this kind of insurance coverage. When you operate a company, you’re responsible for hiring employees to carry out various tasks for your enterprise.

As a handyman business owner, you are accountable not just for your financial well-being but also for that of your workers. It is possible for a scenario to become exceedingly stressful if you are compelled to cease operations as a result of an accident or a natural catastrophe.

On the other hand, business interruption insurance will replace your income while your company is recovering.

For instance, if your company’s headquarters were to be destroyed in a fire or extreme weather condition, this kind of Insurance would cover the costs of continuing business operations, relocating to a temporary site if required, as well as payroll, taxes, and loan payments.

Crime insurance

You won’t have to worry about the financial impact of theft, forgeries, or fraud on your company because of this insurance coverage.

This kind of Insurance goes by a few names: business crime, employee infidelity, and employee dishonesty. Your handyperson business may only employ the most qualified individuals, but you can never afford to take any chances.

Equipment breakdown insurance

If you are a handyman who performs their work using certain tools and gear, this type of insurance can reimburse you for the costs of repairing or replacing that equipment in the event that it breaks down unexpectedly.

Although, this type of insurance policy does not offer coverage for the regular wear and tear of equipment.

Steps to take before choosing an insurance plan 

General liability insurance is essential to safeguard your handyman company from claims of personal injury, property damage, and advertising harm.

Some handyman firms may get by with only general liability insurance, while others may need extra coverage, such as for their tools and equipment or their company vehicles. The following are steps to take when considering insurance coverage to choose. 

  1. Risk assessment

Insurance coverage should be chosen after careful consideration of the risks involved, such as the possibility of injury, accident, or property loss.

Consider the potential impacts of certain risks, such as weather and accidents. It would be best to consider how variables like location, industry, assets, and staff size affect your overall risk.

  1. Consult with a broker

Insurance brokers are able to provide a higher degree of individual attention to their clients. They will work with you to get an understanding of the many kinds of insurance plans that you could want.

Brokers also help you to contact insurance providers and assist you in evaluating your various coverage alternatives.

  1. Choose an insurance provider

After completing all of the essential research and deciding about the insurance provider you want, the following step is to examine your financial plan.

You should ensure that the cost of the insurance policies you wish to purchase is compatible with your financial plan and that the policies are purchased in the order of their significance level.

  1. Purchase your insurace policy

When you have identified the insurance provider that gives your company the most comprehensive coverage options, it is time to purchase the appropriate policies.

Once you have purchased your Insurance, you will need to take a few further steps, including establishing a payment plan and becoming familiar with the claims process. If you can do these things online, you should do so.

Some providers may even enable you to log in to your online account and transmit your certificate of Insurance through email or text to your customer. It is essential that you familiarize yourself with the steps involved in obtaining a certificate of Insurance. 

What to look for when deciding which insurance company is best

When it comes time to make your choice, keep the following factors of comparison in mind:

  1. Coverage

Examine the many insurance coverages that a potential provider of Insurance offers before making a decision. Additionally, investigate the insurance provider to see whether or not they can provide the coverage that is necessary for your company.

  1. Liability Limitations

When purchasing Insurance, the liability limit of the organization is still another significant aspect to take into consideration. Instead of merely purchasing things at random and crossing your fingers for the best, it is important to have this information upfront.

  1. Cost

Under the cost heading, you need to consider the overall cost of the insurance coverage as well as how it will impact your finances in the long term.

  1. Costumer experience

Be sure that the insurance provider you choose has an operational customer service department so that you can simply file a complaint if you do end up having one. It is also advised that you select an insurance provider that has an actual office that you will have no trouble entering on foot.

Investigate whether or not you can quickly get a certificate of liability insurance and consider adding an extra insured to your policy.

  1. Reviews

It is essential to read evaluations made about a firm before doing business with them. Reading the evaluations can assist you in learning how the firm operates and determining whether or not the organization can be relied upon.

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Reasons why you need insurance as a handyperson

The purpose of having business insurance for handypersons is to protect you and your financial assets from various liability risks. As a handyperson, knowing that you are financially secure in the event of an accident at work is a great feeling of security.

The following are some risks that having an insurance plan can protect you from;

  1. Vandalism of private property

The cost of fixing the damage to your workplace or the equipment inside it might cut deep into your company and personal funds if it were to occur.

In addition, if you mistakenly cause damage to a customer’s property while you are working on their order, you may be compelled to make reparations or pay compensation to the customer. If you have insurance, you will be protected against losses due to damage to your property.

  1. Litigation and associated costs

You can be sued if the maintenance work you completed for a client causes that client to get an injury or damage their property. The costs of legal representation may rapidly build up, particularly if a case is drawn out over months or even years.

If a client sues you for personal injury or property damage and you have General Liability insurance, the policy will pay for your legal defense costs.

  1. Accidents, injuries, and the costs of treatment

When you operate as a handyperson, you often handle dangerous materials and equipment, including some that might cause catastrophic injuries. While working, it is possible that you may come into contact with hazardous items, such as dust, mold, or fungus, which might potentially cause health issues. 

Even though it is common sense that handypersons might get injuries while on the job, you also need to think about your clients. If you accidentally injure a client, you may be held responsible for their medical expenses.

Having Insurance absolves you of all of this responsibility and ensures that your financial needs will be met in the event of an accident or injury.

  1. Automobile problem

Suppose you have issues with the vehicle that you use for your company’s operation. In that case, having Insurance will assist you in resolving these issues by meeting your essential financial requirements in the case that you have difficulties.

Other types of business insurance

Business Insurance in AlbertaBusiness Insurance in ManitobaBusiness Insurance in British ColumbiaBusiness Insurance in New Brunswick
Business Insurance in Nova ScotiaBusiness Insurance in Newfoundland and LabradorBusiness Insurance in OntarioBusiness Insurance in Prince Edward Island
Business Insurance in QuebecBusiness Insurance in Saskatchewan

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August 14, 2023
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FAQs about handyperson insurance

Does a handyperson need business insurance?

Absolutely, they do! Despite the fact that being insured is not a legal requirement in most jurisdictions. No matter what services you provide, as a self-employed or independently operating handyman, you need Insurance to protect yourself from the financial consequences of damage, loss, or a third-party lawsuit. Yet, if you are an independent handyperson, a certificate of Insurance may be required either to be employed or to satisfy a customer's request for confirmation of insurance coverage.

Who is eligible to get handyperson insurance?

If you are a handyperson and can do a wide variety of tasks, you need insurance. This is because there are so many different kinds of activities to choose from, therefore kinds of difficulties that may crop up. If you conduct jobs such as the ones listed below, you should seriously consider purchasing handyperson insurance:

  • Installation of home furnishings and electronics 
  • Carpentry
  • Plumbing
  • Floor installation, as well as maintenance and repair
  • Framing
  • General maintenance
  • Home security setup for residential safety and protection
  • Renovation (such as a bathroom or basement)
  • Relocating several pieces of furniture and other objects
  • Painting (interior and exterior) 

How much does handyperson insurance cost?

Various factors usually determine how much you will pay for your handyperson's business insurance. The factors are the kind of jobs you take on, the number of staff you have, and the amount of revenue your company generates, among other things.

What factors determine the cost of insurance for a handyperson business?

The cost of a handyperson's Insurance may be affected by several factors, including the following:

  • The years of experience you have. In most cases, handypersons with less experience will have higher premiums.
  • The magnitude of your business.
  • How much money in terms of revenue do you anticipate making in the next year?
  • Whether or not you have had insurance coverage in the past, if you have been running your handyman company without Insurance, it may be pretty difficult for you to get an insurer to take you on as a client.

How does insurance for handyman businesses operate?

Handyman insurance protects you from financial loss if an accident or any other event occurs. In return for a premium payment, your insurance company will safeguard the assets covered by your policy. For instance, if you have commercial auto coverage, your insurance provider will protect your vehicle in the case of a car crash.

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