5 Reasons You Need Handyman Insurance

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If you already own or you’re considering starting a handyman business, one of the things you’ll need to have is handyman insurance.  Insurance is not a place to cut corners when it comes to your livelihood, your business – here are five reasons why every handyman or handywoman needs it:


Being a handy professional is risky. 

Insurance is good for all businesses to have, and a handyman business is no exception. The job requires risks and requirements that make specialized insurance very smart for financial protection.  Working with power tools, fixing electrical problems and dealing with other labor-intensive issues means that accidents may happen. These jobs pose risks, so it’s important to have thorough coverage.  Handyman insurance is a bundle of different insurance policies, and the combination of different types of insurance means better coverage.


Insurance can get you more customers.

The savviest potential customers will want to see your proof of insurance prior to hiring you for a job. If you aren’t insured, you put those customers at risk. If an accident happens while you are working in their home, the customers may be the ones on the line, being asked to pay for the damages out of their own pockets or find out if their homeowner’s policy covers it.  For this reason, customers are often hesitant to hire a handyman business that lacks insurance.


A good insurance policy actually opens doors for your business.

Some retail businesses and apartment complexes might require you to have insurance before they can hire you to do work.  You don’t want to lose out on jobs because you don’t have insurance.  Handyman insurance makes you more appealing and a more likely hire than someone who is uninsured.  People don’t want to worry about being liable if you get hurt on the job.


Some states mandate handyman insurance.

There are some states than require you to have insurance.  Many also require you to tell your customers whether or not your business is insured, with some states requiring it be stated in writing.  You often have to specify the type of coverage you carry, too. Make sure you are familiar with the laws in your state.


Insurance is added protection against lawsuits and legal fees.

If a job goes wrong, you may find yourself in hot water.  For example, if you complete an electrical job and the home experiences a fire due to faulty wires, your business could be held responsible.  Lawsuits and legal fees add up very quickly.  Handyman insurance can help slash the financial impact those fees have on you and your business.

Handyman insurance may not seem as important as tangible assets like your truck or your tools, but it’s essential to keep you and your finances safe. Taking smart precautions to protect your business is part of your investment. Even if the law doesn’t require you to have handyman insurance, it’s a smart idea to have it.  It allows you to prepare for risks you face on the job and also helps you get more customers.

Learn more about the affordable handyman insurance ACHP offers by clicking here.