Good Handyman Insurance
Cheap, good handyman insurance is easy to find if you know where to look. Do you need insurance for your handyman business in the United States? If so, our insurance team at Contractors Liability® is ready to answer some common questions for you and provide you with a free quote.
What is Handyman Insurance?
Accidents are part of what drives your line of work. You’ve seen holes in drywall, sinks dismantled by someone trying to find a lost earring, toilets with plumbing nearly a century old, and much more. But what happens when you cause the problem? When you make a mistake in a professional setting the right insurance coverage will protect you. Access to coverage can prevent you from having to pay directly for any damages.
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Get Your Free Good Handyman Insurance Quote Below:
Handyman General Liability Rates for $1 Million/$2 Million Policy
|Policy Type||Trade||State||Coverage||Guard||Travelers||Liberty Mutual||Next Insurance||Nation Wide||Tokio Marine|
Annual premium above includes unlimited certificates of insurance.
Rating assumes 150,000 gross revenues for handyman/general contracting with 10% subcontractor costs.
Premium are subject to underwriting approval and financing charges may apply
What Does Handyman Insurance Cover?
- Bodily Injury: These injuries consist of any bodily harm suffered by a third party as a direct result of something that you or an employee did.
- Example: An unsecured faucet handle flies up and hits a customer in the face, causing a black eye and facial bruising.
- Property Damage: Any alteration that was not originally intended by the requestor is categorized as property damage.
- Example:A painting job commissioned by a call center accidentally causes damage to that call center’s carpeting, forcing the center to replace it.
- Personal Injury: This type of injury negatively affects the emotional or reputational state of a party unrelated to the drywall company.
- Example: Your company takes longer than expected on a bid, causing the company that contracted you to lose business.
- Advertising Injury: Advertisement injuries are any sort of action taken against a company in a business setting, such as copyright infringement or libel.
- Example: Your logo was intentionally created to look like a rival’s logo, so now your rival is suing you for copyright infringement.
- Medical Payments: When a third party is injured because of an event directly related to your company, often you will have to compensate the third party for the resulting medical payments.
- Example: Improper protection around a water heater you installed causes burns to a client. Their medical bills will be covered by your company.
Best Rates For Your Handyman Insurance
Handyman Insurance cost is directly related to the type of work that your company does. If your company deals with high-risk installations and fixes, you might end up paying a higher rate than someone who does tiling or touch-up painting work. However, many different things are evaluated by insurance companies prior to coming up with an insurance rate. These things include:
- Your Annual Revenue. The number of jobs your company takes on, as well as the number of employees you retain, are directly correlated to your gross income, as well as the amount of risk associated with your company.
- Your Type of Business. The risk that is inherent with your business plays a considerable role in determining how much you will pay for a rate. Those with more dangerous roles will inevitably pay more.
- Age of Company. If you are part of a company that has existed for at least a generation, there is a good reason for insurance companies to lower your rates. A history of trust among customers shows companies that they do not make consistent mistakes. This means there is less of a chance that you will need to file any claims in the future.
- Personal Preference. Insurance companies can personalize packages for you. Package combinations can sometimes lower your overall rate.
Of course, all contractor will differ. The better insurance agencies go through many more considerations before helping you decide on which policy is best for you. Working with a licensed insurance agent, like the ones at Contractors Liability, is the best way to ensure fair rates.
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