Handyman service providers offer a faster and more precise solution for homeowners and businesses that need repairs right away. These are companies that thousands of people in any given area rely on. If you operate a handyman service, it may not be as clear just how valuable your business is, what assets you need to protect or what steps you need to take to ensure your business is properly safeguarded from claims. These types of contractors insurance coverage can help most handyman services remain protected.
#1: Asset Protection
Your equipment, including any tools of the trade you own, is perhaps the biggest asset you have. Property insurance needs to cover this type of asset. If you own a building for your business, it may have coverage for equipment, but it is important to check that any equipment you own for your business is covered.
#2: Commercial Auto
Most handymen travel from one location to the next to provide service. Commercial auto insurance is essential. It should protect against all of the risks associated with operating your vehicle, including liability risk, to prevent against accident claims and property insurance to minimize loss to your vehicle, the tools you keep on board or other systems. While you need to meet specific liability requirements legally, you may wish to consider comprehensive auto insurance, collision coverage and specialty riders for high-end valuables.
#3: General Liability
Protecting your business also means protecting it from lawsuits against mistakes or other claims. General liability insurance can potentially minimize some of the risks you have related to lawsuits filed against your business.
#4: Workers Compensation
If you operate your own business with a single provider, you may not need workers compensation. However, if you operate a business that is larger with more employees, you may be required under state laws to have it. In all cases, this insurance protects your business from claims filed against you as a result of employee injury or illness.
#5: Professional Liability
A higher level of liability insurance, this type of umbrella insurance offers more protection against significant lawsuits. Depending on the size of your operation and the types of handyman services you offer, you may benefit from this coverage.
Contractors insurance needs to be specialized to meet all of your needs. Take a closer look at these plans and how you can save by bundling them together.
Get the protection you need. Call Insurance Agent2000 at (925) 827-0510 for more information on Clayton contractors insurance.