What is handyman insurance?
Completing basic home maintenance and repairs for hire comes with certain risks. Handymen and handywomen working in Vermont could have equipment stolen, or make a mistake that causes damage to a customer’s property. To help protect against risks like these, there’s handyman insurance.
Handyman insurance offers tailored protections for professionals offering basic home repair and maintenance services. Policies can provide important protections at affordable prices.
Who in Vermont needs self-employed handyman insurance?
Most Vermonters offering handyman services should consider self-employed handyman insurance. Policies may be purchased by individuals or small businesses doing this work.
Sometimes self-employed individuals offering these services are tempted to forgo getting insurance. Not having insurance could be a financially ruinous decision if an accident occurs, However. Buying a policy is broadly recommended.
Can self-employed handyman insurance cover electrical and HVAC work?
No, self-employed handyman policies normally don’t include coverages for doing electrical, HVAC, or gas work. The goal of handyman policies is generally to provide affordable protection against the risks that come with doing basic maintenance and repairs. Electrical and HVAC work presents additional risks, which usually necessitate additional coverages and higher premiums.
Trade professionals doing electric, HVAC, or gas work likely need a policy that’s more specifically tailored to their field.
What protections do self-employed handyman policies come with?
Self-employed handyman policies can come with a surprising range of coverages. Some options that might be available are:
- Business Property Coverage: Can cover equipment and materials stored at a primary location, and may extend to the building itself if it’s owned by the handyman business.
- Commercial Vehicle Coverage: Can cover a commercial vehicle that’s owned by the handyman business, such as a pickup truck or work van.
- Inland Marine Coverage: Can cover tools and materials while they’re being taken to and from customers’ houses.
- General Liability Coverage: Can cover accidents that result in injury to another person or damage to a customer’s house.
- Commercial Umbrella Coverage: Can provide an extra layer of liability protection in the event of a costly lawsuit.
- Business Interruption Coverage: Can cover periods of reduced or halted business operations due to a covered disaster or event.
Some coverages may be needed in certain situations and not others. A small business might have a building to insure, where a self-employed individual may work out of a home office or garage. Working with an insurance agent who is knowledgeable in self-employed handyman insurance can help ensure that the right coverages are in place.
Are employees covered when working for a handyman business?
Assuming a handyman business has insurance, employees of the business would likely be covered by the business’s insurance policy. That’s assuming that the business has a suitable policy in place, so it’s important to have this conversation.
Additionally, any employer-provided coverage is normally limited to work done on behalf of the employer. It would not extend to side work that the employee picks up on their own.
Employees who don’t have coverage through an employer, either for primary work or side work, may want their own handyman policy. A knowledgeable agent can review their situation to determine the best way of procuring coverage.
To cover an employee’s injuries and lost work wages, a Workers Compensation policy would need to be purchased as well.
How much do self-employed handyman policies cost?
Premiums for self-employed handyman policies are relatively affordable, although they can vary. The purpose of these policies is generally to make basic coverages for handyman work available at a reasonable price.
To get the best price for the needed coverages, professionals can work with an independent insurance agent. Independent agents aren’t linked to any one insurer, and thus can check quotes from multiple companies.
Where can professionals get handyman insurance in Vermont?
If you perform home repair and maintenance services in Vermont, let us at Burlington Insurance Agency help you find insurance. Our independent agents will work closely with you to find a handyman insurance solution that meets both your coverage needs and your budget. Together, we can help make sure you’re protected.
