Do You Need Insurance to be a Handyman?

If you work as a handyman, there’s no telling what each day will bring. You perform a variety of jobs for clients – from painting walls to building furniture – and no job is without a degree of risk. Below, we consider whether a handyman needs insurance, and how much handyman insurance is. 

What Is Handyman Insurance?

Handyman insurance is a type of small business insurance coverage. It protects your business from the financial impact of legal claims made by your customers. It can also help if you’re injured on the job or if you accidentally damage someone’s property. 

Handyman insurance does not normally cover every eventuality. You may, for example, still require other insurance policies – such as commercial auto insurance – to protect your business fully. 

Does a Handyman Need To Be Insured?

There is no single requirement to have handyman insurance. However, you may find that you need at least general liability insurance – which we’ll look at below – to work in certain states, obtain a contractor’s license, or undertake specific jobs. 

Aside from any legal requirements, there’s a simple reason why handymen need to be insured: it protects your business financially. Without insurance, you may find yourself financially liable for mistakes made on the job. The impact of legal fees and repair costs could drain your resources and cause your business to stop trading.    

What Insurance Should Handymen Have?

It depends on the type of work you do and how much you can afford to spend on insurance premiums. Here is a rundown of the most common types of insurance policies handymen have.

General Liability Insurance

This policy covers you for various types of property damage, bodily injuries, and advertising claims, such as libel. It’s the minimum level of insurance you should have if you’re working as a handyman. 

Tools and Equipment insurance

With tools and equipment insurance, you’re covered for the costs of replacing or fixing lost, broken, or vandalized tools. For example, if you’re on the job and someone breaks into your truck outside and steals your tools, you can make an insurance claim.

Professional Liability Insurance 

A professional liability insurance policy covers you for professional negligence claims. As an example, it covers you if you fail to complete a job on time or there’s an issue with performing the service contract.

Commercial Auto Insurance

Commercial auto insurance covers damage to business vehicles, and physical injuries resulting from an accident in a business vehicle. For example, if you’re driving to a job and there’s an accident, the insurance policy may cover your medical bills.  

Handyman Insurance Cost

On average, handyman general liability insurance costs around $1,000 per year, according to Handyman Startup. The cost of handyman insurance depends, though, on various factors including the following. 

• The type of services you offer: Insurance may cost more if you perform higher-risk jobs than if you mainly do odd jobs e.g. changing locks and hanging doors. 
• The level of coverage: The cost of your premiums may increase if you take out more comprehensive coverage rather than, say, a simple general liability policy.
• The size of your business: If you employ other handymen rather than just working for yourself, your insurance may cost more.   

It’s advisable to compare quotes before choosing an insurance policy to make sure you are getting the best deal.

Choosing Handyman Insurance Coverage

Ready to choose insurance for your handyman business? Here are some suggestions to save money and select the right policy.

• Determine the level of coverage you need and whether you need additional cover e.g. professional liability insurance.
• Decide how much you can afford to spend on insurance premiums each month or annually.
• Shop around for competitive policies. The team at InsurePro can help you quickly source suitable quotes – we only need a few details to get started.

Don’t rush the process of selecting insurance cover. Make sure you research your options and ask for help if you’re unsure what coverage you need. 

How InsurePro Can Help You Get Handyman Insurance

If you’re a handyman, you should protect your small business from the costs of lawsuits and liability claims by taking out insurance cover. At InsurePro, our friendly team will use our knowledge to match you with the best insurance policy for your needs. It only takes a few minutes of your time to generate a free quote, and we can help you choose a cost-effective policy to safeguard your handyman business.

Ready to find out more about handyman insurance coverage? Get the best insurance for you!