Do you dream about starting your own handyman business and currently seeking insurance to protect your operations? If yes, then you’ve come to the right place.
Now comes the big question: What should you look for when choosing the right handyman business insurance?
Handyman Business Insurance: Coverage Options
The first thing you should be looking out for is the coverage options available. Different insurers will offer varying levels of protection, so it’s important to ensure you get the right coverage that meets your business needs.
Look for comprehensive coverages, like:
- Property Damage Coverages
- Bodily Injury Coverages
- Personal and Advertising Injury
- Medical Payments
Ensure the policy covers most, if not all, potential hazards unique to your line of work.
Assessing the Provider’s Reliability
Another critical factor to consider is the insurer’s reliability. What’s their reputation like in the marketplace?
- They should have a strong track record of settling claims promptly and without hassle.
- Looking up some reviews and ratings online might give you an idea of their reliability.
- If they have customer testimonials, even better.
Cost of Insurance: Affordable yet Comprehensive
The cost of a policy shouldn’t be the deciding factor when you are choosing the right handyman business insurance but it’s a significant point to ponder on.
- Look for insurers who offer excellent value for money.
- Check if there are discounts available for bundling insurance.
- Also, see if a higher deductible could result in a lower premium.
Read the Fine Print: Policy Exclusions [^1^]
Reading the terms and conditions is, I’m afraid, a must. Here, look for any policy exclusions that might affect you.
- Check if your insurance protects you against claims made as a result of work done before the policy started.
- Understand how retroactive dates work and how they affect your coverage.
Business Operations: Customized Coverage Scope
Lastly, ensure the provider’s coverage scope is tailored to your business operations.
- Does the policy cover work done at your premises and at the client’s property?
- Are you covered if you work with subcontractors?
In conclusion, finding the right handyman business insurance might not be a walk in the park. However, if you pay attention to the points mentioned above, you can be well on your way to making an informed decision.
Remember, your insurance is your safety net. So, take your time and choose wisely!
[^1^]: Policy exclusions vary by insurer so be diligent in reading the fine print.