Why you need handyman insurance urgently
Whether operating as an individual handyman or owning a service company, do not wait for a compensation bill to come your way as it can cause your business to go under. Apply for the handyman insurance now to protect you from the following risks:
- On-site hazards- Accidents on the site may cause injuries to the employee, third party or pets. Also, the hazards may lead to destruction of properties present on the site.
- Theft- When providing handyman services, you may be liable for lost items on the site. On the other hand, your expensive tools may find their way to the wrong hands either on the job site or while on transit leading to massive losses.
- Destruction of property- Fire, leaking pipes, accidental tool dropping may result in destruction of property. Remember that the amount required for compensation depends on the extent of damage that may range from several hundreds to millions of dollars. For example, imagine carrying out a repair that accidently leads to a fire that consumes an entire business complex.
- Damage of vehicles- When running a handyman business, you need vehicles to help you move from one job site to another. An accident may reduce your vehicle in scrabble metal within a span of a second.
Handyman insurance policies
The following handyman insurance policies are designed to protect your business income and savings from huge figured claims:
• Products liability
As a contractor with several employees, it becomes difficult to follow up their activities on the site. Failure to adhere to individual client’s specifications or states building code may result in costly claims, covered by this policy. Also, this cover comes handy when the work delivered is substandard.
• Public liability
Handyman public liability is vital as it covers bills related to third party claims. Tools, equipments and materials being used on a job site may cause injuries or death of another person and destruction of customers’ properties. This policy protects you from depleting your business earnings and savings in order to pay out the bills.
• Employees’ compensation policy
Employees are exposed to different risks such as accidental falls, cuts and burns that result in serious injuries or death. In addition, materials used or mode of working may result to long term health issues such allergies, organ failure or back problems that may lead to physical disability. This policy cover is designed to protect you as business owner from costly compensations while providing a livelihood for the affected workers.
• Vehicle and tools insurance
You can get a comprehensive handyman insurance that includes a cover for the trailers and vans used in transportation of equipment and employees each day. Tools and expensive equipment can also be insured.