Handyman Insurance Colorado
People hire a handyman business to do small jobs around the house that they can’t do themselves. Three things are important to people who are looking for Handyman services. Not only do they want to save money, but they also want the job done right and fast.
Company Liability.com knows that having small business insurance is important for getting the job done right. You will be able to go into people’s houses. Every smart business owner should have the right kind of insurance to protect their company. You ought to have handyman liability insurance at the very least.
What Is Handyman Insurance ?
There are several parts to handyman insurance. You should get Handyman General Liability Coverage at the very least.
If you run a handyman business, you need cheap small business insurance that protects your finances and pays for your lawyers’ fees if someone files a claim.
It doesn’t matter how careful you are; things still go wrong. You need the best protection for your handyman business.
Aside from handyman liability insurance, you need workers’ compensation insurance too if you have staff. Getting professional auto insurance to cover business vehicles is also a good idea, even if you use your own car for work.
In some cases, handyman business owners buy professional liability insurance to cover themselves in case they are negligent in their job. If you offer a handyman service, third parties may file claims against your business, but affordable handyman insurance will protect you.
- Handyman insurance refers to specialized insurance coverage tailored specifically for handymen, contractors, and related professionals.
- This type of insurance offers protection against a variety of risks that handymen may encounter during their work, including property damage, bodily injury, and liability claims.
- Handyman insurance policies can vary in terms of coverage options and limits, allowing handymen to select the most suitable protection for their unique needs.
Handyman Insurance In Colorado
- In Colorado, handymen need to have certain types of insurance in order to legally and safely do their jobs.
- When you work as a handyman in Colorado, you should get general liability insurance, workers’ compensation insurance, business car insurance, and property insurance.
- Colorado has rules about what kinds of insurance handymen need to make sure they follow them to stay out of trouble with the law and protect their businesses.
- In Colorado, handyman insurance companies offer a variety of custom insurance plans. These plans make it easy for handymen to get the coverage they need to meet their needs and responsibilities in the state.
Types Of Handyman Insurance
The typical insurance policy package for handymen includes a few specific coverage options to ensure that you are fully protected. Some of the essentials you are likely to see include:
- General Liability Insurance
- Tools and equipment insurance
- Handyman Auto Insurance
- Bond
General Liability Insurance
If you work as a handyman, general liability insurance is likely the most important type of coverage you need. It’s meant to protect your small business from things like damage to your customers’ property, injuries to your customers at work, or injuries to customers at your place of business.
If you damage your customer’s home by mistake or if one of your products in their home hurts them, general liability might help pay for their medical bills or more repairs.
You are also protected against court fees by general liability. Remember that you’ll have to pay a lawyer to protect your business if it is sued, even if the suit has no grounds.
This could be useful if your business is sued over something like an ad comment. If you rent an office place and damage it, your general liability insurance might help pay for it.
It may cover the costs of most accidents, property loss, and injuries to other people, like your customers. It can also keep your tools and equipment safe in case they get lost or broken on the job.
In many places, handymen need to buy insurance before they can do work. It’s still a good idea even if that’s not the case in your state. You have to pay for these costs on your own if you don’t have insurance. That could be around $30,000. That’s how much most small businesses claim for crashes and damage to their property.
General liability Insurance Usually Covers
- Bodily injury to another person
- Third-party property damage
- Personal and advertising injury
- Costs of medicine
What General Liability Insurance Usually Doesn’t Cover
- Damage to your own property
- Professional services
- Workers compensation or injury to your employees
- Damage to your work
- Automobiles while in business use
- Expected or intentional injury or damage
Tools And Equipment Insurance
As a handyman, you need your tools to do your job. If they get lost, stolen, or break, you won’t be able to work until you get new ones. Good tools also cost a lot of money. Something like generators and trucks is very expensive, which is why thieves want to steal them.
Tools can also get broken, which can stop you from working until they are fixed. Tools coverage may be part of some plans. This can help you fix or get new tools so you can get back to work as soon as possible. This can help your business stay afloat because you won’t have to wait a long time to finish jobs or go without much money.
One type of insurance that covers the tools and equipment you use at work is tools and equipment insurance, which is also called inland marine insurance.
If your tools and equipment get stolen or broken while you’re working, this coverage will cover their value. It can be added to your DIY liability insurance policy.
Let’s say someone steals your tools while you’re talking to a customer. Your inland marine insurance can cover the costs of getting them back, so you won’t have to pay for them yourself.
Remember that if something happens to your tools while they’re being stored at home or in your work vehicle, your inland marine coverage won’t cover it. For the second one, you might need a commercial car policy.
Handyman Auto Insurance
An important part of most handymen’s jobs is going from one job place to another by car. In contrast, if you are using your car for work, it’s unlikely that your personal auto insurance will cover the accident. This is the reason why your handyman policy needs to cover commercial car insurance. Then, if you’re going to work and get into a car accident, you’ll be covered for damage to your car or injuries.
Handyman Bond
As a handyman, many people will ask you for a security bond when you are looking for work. These bonds aren’t required for all jobs, but they can help you get the best ones. In fact, many companies will not let you work for them until you have one.
With a surety bond, you can promise your customers that you will do the work they pay you to do. No one wants to have a home fix or renovation that is only half done. It’s easy to get safety bonds with handyman insurance. These security bonds might help you get the best customers.
