Handyman Insurance Facts and FAQs

Handyman Insurance is a collection of insurance policies suited for your handyman business. Your business has unique qualities that set you apart from other handyman and contracting businesses. While larger businesses may need umbrella coverage, for example, you may only need a few basic policies to get started.

Trying to decide what insurance coverage best suits your needs? Below we’ve included some of the most popular questions we at Citizens General get from our handyman customers to help you find affordable insurance with the coverage you deserve.

Don’t see your question below? Don’t hesitate to contact us.

Handyman Insurance Terms Decoded

Buying insurance involves terms that may not be familiar to you. You may notice that there is certain language that applies specifically to insuring a handyman business or a construction business. Here are some of the more commonly used terms you may encounter when learning about insurance coverage for your business:

  • Bundle: When you bundle your insurance you buy multiple types of insurance, such as General Liability, Inland Marine, and Commercial Auto, from the same carrier.
  • Claim: A claim is a demand by an individual or a company for compensation or recovery from loss that falls under the insurance policy in question. For example, if you get in a car accident on the job, you would file a claim under your Commercial Auto policy.
  • Deductible: The amount an insurance company will deduct from the loss before the company pays up to your policy limit. For example, if you have a $500 deductible and your policy limit is $1,000 and you’re an accident with a loss of $1,500, you pay a deductible is $500 and the insurance company pays the rest.
  • Inland Marine: Inland Marine Insurance is property insurance for property in transit over land. This is particularly useful for the transport of expensive tools and construction equipment.
  • Liability: In the world of insurance, a liability is the obligation to pay a certain sum of money for damage or an injury caused by negligence or prohibited actions.
  • Premium: A premium is the amount of money the insurance company charges to provide the coverage specified in the policy.
  • Risk: A risk is the uncertainty that comes from the possible occurrence of given events. For example, a worker not wearing a hardhat on a job site is a risk that may lead to an injury.
  • Specialized Broker: A specialized broker provides insurance for a specific type of business, making them able to provide comprehensive coverage for those businesses. For example, Citizens General specializes in contractor insurance for small businesses and artisan contractors.

How Does Handyman Insurance Work?

Handyman Insurance protects you from financial loss in case of an accident or other incident. Your insurance company protects the assets covered by your policy (for example, your truck in the case of a commercial auto policy) in exchange for a premium.

Who Needs Handyman Insurance?

All Handyman businesses could benefit from insurance coverage- whether you’re a one-man operation or building up a larger business.

What Kind of Insurance Does My Handyman Business Need?

What insurance you need will depend on the size and nature of your handyman business. If you are the sole proprietor of your business and don’t work on high-risk projects, you may only need General Liability Insurance. However, many states require Workers Comp if you have any employees.

Citizens General offers different policies so that you get the exact coverage you need for your operation.

  • General Liability: General Liability Insurance is the most important handyman insurance policy to have. This policy protects your assets from a third party claiming damages in the event of an accident.
  • Commercial Auto: In the event of an accident, Commercial Auto Insurance protects your work vehicle, or your personal vehicle if you use it for work purposes more than 50% of the time.
  • Inland Marine: Inland Marine insurance protects the tools and equipment you transport to and from a job site.
  • Workers Comp: Workers Compensation protects you and your employees in the event of an injury incurred on the job.
  • Professional Liability: Professional Liability Insurance protects you from claims based on the quality of your work.
  • Umbrella Insurance: Umbrella Insurance acts as a supplement to your other policies. If a claim exceeds your policy’s limit, your Umbrella Insurance makes up the difference.

How Much Does Handyman Insurance Cost?

Citizens General is committed to getting you the best coverage at the most affordable rates. The best way to get an estimate of how much your insurance will cost is to get a quote tailored specifically for your business.

Accidents can happen, no matter how much much you try to avoid them.. As a handyman, your day-to-day working environment involves taking on risky jobs: working with dangerous power tools, repairing broken stairs, fixing leaky toilets, and replacing broken light fixtures. Let your insurance company worry about protecting your business so that you can focus on what’s most important- doing great work for your customers.

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