Though not mandatory, a handyman needs to have him and his team covered by handyman liability insurance to save him from unforeseen monetary losses while working at his client’s location. It is smart to have you and your business insured before bidding for a renovation project. Among the ‘n’ number of bids, yours will have an edge over your competitors. It will not only make your proposal look favorable, but it will also make the third party choose you over others.
When you set foot out of the luxury of your home, you hope for a seamless day at work and be back home without any hassles. Imagine this situation. You are at your client’s home, standing on a ladder trying to fix a light bulb. Not only does your client’s very mischievous kid keeps running around the house playing with your tools and misplacing them, but he also bangs on the ladder making you fall. And while falling, if you accidentally break something valuable, you will be in deep trouble.
Liability insurance costs you up to $1000 a year. Hence, the monthly premium would cost you around $35 to $ 84. The premium amount will vary depending on your postal code, the volume of sales you make, and the services you provide to your clients. The amount you pay per month is small compared to the amount of harmony it brings to your mind.
Is insurance mandatory for a handyman?
If you are just starting your career as a handyman or if you are doing it as a part-time gig hoping to extra money, insurance is not compulsory. Being extra careful at work and doing simple jobs will save your pocket from burning a hole. If you insure even before you being your first venture, you might be spending more than your earnings, which is not a wise decision. The right time is when you get constant jobs and start earning regularly.
What to look for in an insurance provider?
There are various aspects to be looked at before choosing a handyman liability insurance provider. It is too easy to get a quote but too hard to zero in on a provider. The basic questions you need to ask are
- Does the insurance provider let me get insured for a month or a week or a few hours a day?
- What types of liabilities does the insurance protect me from?
- Does it cover the bodily injury of my team members and me along with covering those of my clients?
- If my client sues me due to some negligence on my part, will the insurance cover that too?
In addition to these basic questions, a very big list of queries might be running in your mind right now. Choose the one that caters to your needs while answering most of your questions.
With insurance, you can steer clear of any unexpected unfortunate incidents, saving you from monetary losses. From insuring you and your teammates to your tools and equipment, boost your profits by avoiding hassles.
