Handyman Insurance What Is It And Why Should I Have It? - Farmer Brown Insurance Agency - Contractor Talk

Handyman Insurance What Is It And Why Should I Have It?

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Old 11-04-2018, 03:38 PM   #1
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Handyman Insurance What Is It And Why Should I Have It?

In its most basic form, Handyman insurance protects third parties, such as homeowners you are doing work for damages caused by you to their property or other peoples property. This also would include any injuries that you might cause to people. General Liability Insurance protects you against financial liabilities resulting from accidents for which they're found legally liable.

Owning your own business is a very satisfying feeling. However, there are many stressful situations you can find yourself in. One of the most stressful would be if you did not have insurance and you damaged property or worse yet you caused an injury to a person. All you have worked for could be gone in an instant. Make sure you make the right move and at least have General Liability Insurance for your business. Trust me you will sleep better at night knowing you have adequate coverage.


What does General Liability insurance cost for a handyman business? It actually might surprise you how affordable coverage is.

The cost of business insurance for handymen will depend on the following:
1. The size of your business. This generally means how much money you bill your clients in a year.
2. How many people you employ (if any), and
3. The type of repairs and maintenance you do. The riskier the type of work you the more the insurance will cost.
With that said, let's look at some sample insurance cost estimates.
For a policy with $1,000,000 dollars in coverage, a deductible of $1,000 and annual sales of less than $100,000 the policy for general liability insurance will be in the neighborhood of $800 per year
As I stated before this is a small price to pay for peace of mind.
Please keep in mind that these are just Ball Park to use as a reference. For your specific business's insurance costs, you'll need to apply for a free quote by answering a few simple questions.


Commercial Auto Insurance: Usually needed if you use your vehicle for work. This can include driving to sites or transporting tools, ladders and other work supplies. We offer coverage for many types of vehicles and trailers that are common to handyman contractors.

Business Owners Policy: This is commonly called a BOP. This extends general liability insurance to include coverage for things like Real Estate and personal property.

Workers Compensation Insurance: Coverage for employees who are injured while at work.

Surety Bond: You can get a $10,000 surety bond that will cover your business for about $150 per year.

Inland Marine Insurance Coverage: One of the most valuable things you have are the tools of your trade. This covers your equipment if it is stolen or otherwise damaged or destroyed. Just imagine your pain if one day you woke up and all your tools and equipment were gone.

Price is always a factor, especially if you’re just starting out or on budget. This causes may cause you to try finding the cheapest handyman insurance possible. But while you don’t want to overpay, you also shouldn’t compromise adequate coverage for a low price. Make sure you get what you need.

One final factor that is often not mentioned is the positive benefits you can gain by doing things right. For example, a homeowner calls you up for an estimate and you know you are not the only person they called. Do you have to ask yourself how can I stand out from my competition? Well, a very simple way is to provide with your estimate a copy of your insurance and bond. The homeowner will be impressed and it should be a no-brainer for you to get the job even if you are charging more than your uninsured and unbonded competition.

Our team of licensed professionals can work with your budget to help you find a level of protection for
your business.

Getting a handyman insurance quote is easy. Call us to speak with one of our specialists who’ll help you choose the right amount of coverage for your small business.
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