Do handymen need business insurance?

Yes. A handyman is the ultimate jack-of-all-trades. And with that comes a lot of different types of risks. Liability insurance will protect you from many of the things that can go wrong when you run a business.

In order to ensure your business continues to run smoothly, you need to consider business insurance.

What kinds of insurance are best for handymen?

Handymen and handywomen can benefit from several types of insurance policies. Two major coverages that we recommend are workers’ compensation insurance and general liability insurance.

How does workers’ compensation insurance benefit handymen?

As someone who is in charge of a wide range of maintenance and repairs, you should consider workers’ comp. That’s because there’s a lot of risk when your work is physical.  Workers’ compensation insurance protects you and your employees from injuries or illnesses resulting from work-related duties.

Benefits include:

  • Reimbursement for lost wages
  • Return to work and recovery services
  • Medical costs incurred due to getting hurt or sick on the job
  • Employers liability coverage, should an employee file a lawsuit
Medical bills are not fun, especially when they are paid out of pocket. With workers’ compensation insurance, your policy will pay the work-related bills incurred due to an injury on the job. And if you’re out of work for an extended period of time, workers’ comp will supplement your income.

What about general liability?

General liability insurance is a versatile policy that will cover the various risks involved with being a handyman. It’s especially important because you perform work at clients’ properties.

Coverage includes:

  • Property damage: If you stain some shelving, but also end up staining a client’s Persian rug in the process.
  • Bodily injury: A client’s child breaks their wrist after running through your work area and tripping over your tool box.
  • Personal/advertising injury: If you then tweet about how awful your client’s kids are, and how terrible the parents are, and your client claims libel.
  • Legal fees, should your client decide to sue.
General liability is a great policy to have because the maintenance repair world is full of surprises– and you never know what will happen or how people will react to certain events.

As a handyman, what other coverages should I consider?

  • Business auto: Get a business auto policy if you need coverage for a vehicle your business owns.
  • Hired & non-owned auto: This type of insurance protects your company against vehicles you borrow, rent, or hire on behalf of your business. It also extends to non-owned vehicles, like if your employee uses their personal vehicle for work-related purposes and an accident occurs.
  • Business property: Your line of work relies on your tools, which can be expensive. This policy protects your gear from fire, theft, vandalism, and natural disasters. If you can’t perform your work due to damages at your office, business property insurance will also cover loss of income. Note: If you stow your tools at home, your homeowners policy will typically only cover up to $500 in damages, so we recommend not relying solely on that policy for commercial property.
  • Inland marine: If you take your work gear with you (more than 500 feet away from your business premises), this will ensure your items remain protected.

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