ApplyiCng for comprehensive maintenance insurance is the best financial decision for specifically targeting the risks facing you in the field of maintenance and handyman work. Having a maintenance or handyman business you have a unique set of risks that could have a huge impact on your business. Fortunately, maintenance insurance is available to protect your income from possible losses brought about by claims and personal injuries.
Bluewell Insurance Group can work with you to put together a comprehensive insurance policy covers that are tailored to your individual business including Public and Products Liability, Third Party Property Damage or Injury, cover for your tools and equipment and Workers Compensation cover if this is relevant to you.
Elements of a good insurance policy for a Maintenance business
Whether working as an individual operator or with several employees, you definitely need a reliable insurance policy. Here are the elements to look out for when choosing insurance for your maintenance business:
A comprehensive cover is an insurance policy that protects your maintenance or handyman business from every foreseeable risk. You can identify a single policy that covers key risks, or you negotiate for a customised policy that suits your specific business needs. Consulting an insurance provider helps in identifying potential risks and designing an insurance policy that keeps your maintenance business safe.
With the current super competitive business environment and high cost of livin, it is important that the insurance industry provides affordable policies in the maintenance business industry to protect your business income when a disaster happens. Access to comprehensive yet affordable policies has been made easier by the internet market. These days you can search for a provider online who is offering the best cover that suits your business needs at the lowest rates in the market.
When applying for the insurance policy for maintenance and handyman businesses, it is important to have flexibility of payment of these premiums to meet your needs. In order to keep your business safe, you need to keep track of premium payments so that your insurance coverage is kept up to date. Go for a provider with flexible premiums that give you adequate time to make payment without hassle that match the flow of your maintenance business income.
Maintenance insurance options
Maintenance insurance will not prevent the risks from happening but will shield you and your business from financial impact brought about by the risks. Here are the policy covers available for you:
Public liability insurance
When running a concrete pumping business, you may have customers, suppliers and other tradespeople walking about within your business work space. Equipment, tools, vehicles and materials can be the cause of injury even with safety measures in place. Therefore, you need a public liability insurance policy to cover any medical, legal and compensation fees that are incurred.
Do you have employees in your business? If yes, this insurance policy is a must for you. Employees are prone to cut wounds, burns, fractures and other injuries as they work with sharp objects, electricity and maintenance materials that may lead to an adverse reaction. This policy covers legal and medical fees while providing compensation if need be.
Sickness and accident policy
When operating as an individual or as the leader of a team, sickness and debilitating accidents simply mean no income. This can be a major issue especially if you have dependants. This policy protects your income in case of sickness and/or accidents.
Tools and equipment cover
In order to make a decent income flow, you need well-functioning and readily available tools, equipment and materials. Loss, theft and damage of your precious tools can easily knock you out of the maintenance business. Protect your equipment by applying for maintenance insurance as soon as you can.