How To Get Handyman General Liability Insurance
Before you purchase a handyman general liability insurance policy, there are a few things you should keep in mind. This will ensure you have a sufficient amount of coverage while staying within your budget.
- Know your risks. The amount of risk your business faces should match the amount of insurance coverage you buy.
- Choose a deductible wisely. When you get general liability insurance, you choose a deductible. It’s an out-of-pocket cost that is required whenever you have an approved claim. The higher your deductible is, the lower your insurance premium will be. Make sure to choose a deductible you can comfortably afford if you have a claim.
- Get the right amount of coverage. Handyman liability insurance is only beneficial if you have enough coverage. As a rule of thumb, it’s always better to have more coverage than you think you will need. Claims can be very expensive, and without enough insurance coverage, you would have to make up the difference out-of-pocket.
- Get to know your policy. Handyman liability insurance policies are not all the same. Before you purchase a policy, you should know what is and is not covered. Don’t forget to ask about endorsements that might benefit your business, as well.
- Talk to an agent. Before you sign on the dotted line, it’s worth speaking with an agent to ask questions about your policy. They can help you with insurance terminology, coverage limits, deductibles, or anything else you’re not sure about. An agent can also help you determine how much coverage is right for your business.
Other Insurance For Handyman
Besides general liability insurance, there are a number of other policies that can be beneficial for handymen and general repair businesses. Here are some other kinds of insurance you might want to consider:
- Business Personal Property
- Auto Insurance
- Workers Compensation
- Tools Coverage
- Surety Bond
- Excess Liability