Handyman refers to the worker or contractor that does the work like carpentering, plumbing, house maintenance and many others without a license or permit. No doubt, there is sometimes a loss in every type of business. Risk is involved in all businesses. Therefore there is a need for insurance to keep your business secure from natural disasters and other damages or accidents. So is the case with handyman, a handyman also needs insurance to be saved from any risk.

What is handyman insurance?

Handyman insurance is a liability and property coverage for unlicensed merchants. A handyman should have at the least a general liability, worker's compensation and equipment coverage in the event tools are stolen or lost or damaged. Sole business owners with no employees any expect a payment of 1500$ annually for the coverage for liability and equipment in terms of money.

Finding the right handyman liability insurance can be time-consuming. As a self-employed handyman, you need to have your focus on your work on finding more and more job to do., not to worry about shopping for coverage. There are many online websites that may provide you with the options about which type of insurance will be best for you. They will help you sort the agents, brokers and carriers to find the best handyman insurance for your needs.

Types of insurance

The businessman must consider all the risks and then make the decision regarding the right insurance scheme. The main types of handyman insurance policies are:

General liability insurance for a handyman

As a handyman, you should be concerned about the protection and safety of your client's property, children and pets. General insurance covers the claim for damage of property or if anyone gets injured. Most of the handyman insurance policy starts at $300000 liability coverage with lower rates.

· General liability insurance covers a wide range of claims like:

· Damage to home or property

· Work completed by subcontractors

· Incomplete work you promised to perform

· Injury from advertisement

· Medical payments from accidents for you or others around the worksite

2. Workmen compensation

It is the type that covers the medical bills incurred due to injuries to the workers during work. Even a one-person handyman business should have worker's compensation insurance for financial protection in case you get injured and unable to work for several days. The minimum premium is around $5000 annually. Ghost policies require a premium for occasional hires.

Final words

It is no doubt, very important to have a handyman insurance policy to be on the safe side in case any injury or damage occurs to you or nearby people or property. Select the most suitable type for you, keeping in mind the risk factor involved in your work.