Every contractor should consider getting handyman insurance. It’s not something many people consider when starting out as a handyman. However, getting the proper insurance can make a significant difference and protect you in the event of an accident or other trouble. In this article, we’ll be looking at some of the best handyman insurance companies & quote(s for 2023. We will be investigating the different coverage services offered, customer reviews, and other key factors to help you decide on the best insurance policy for your business. With the right coverage, you can rest assured that your business is secure and that you have complete protection.
What is Handyman Insurance?
Handyman Insurance is just business insurance created expressly for the risks related to being a professional handyman.
Again, a specialized business owners insurance policy (BOP) for contractors is handyman insurance. Thе majority оf thе tіmе, handyman insurance is a gеnеrаl lіаbіlіtу роlісу wіth an additional орtіоn fоr coverage fоr аnу tools оr vеhісlеѕ uѕеd fоr the рrоjесt. The legal and financial responsibilities associated with accidents that cause property damage or personal harm are covered by this type of insurance, known as general liability.
Who Should Get Handyman Insurance?
Anyone who offers a service as a handyman or tradesman should consider a handyman insurance policy. Even if you run a small handyman business, you still need adequate coverage. While it is not a legal requirement to have a policy, it provides vital protection for you and your business. Clearly, it is recommended that all handymen purchase a policy to avoid financial losses in the event of an accident or lawsuit. Moreover, if you are not using tools to do repair work, you may not need this type of business insurance.
What Does Handyman Insurance Cover?
Handyman insurance is a type of insurance that covers a variety of small business risks, including general liability insurance, medical costs for unintentional injuries to third parties, litigation, and damage to your company’s property.
Additionally, expanded coverage, which might cover tools, cars, offices, subcontractors, and full-time workers, is often available to policyholders.
An effective starting point is a business owner’s policy (BOP). A BOP is a package of three important types of coverage that is often cheaper than buying each insurance separately.
listed are included in the BOP:
- Business liability insurance.
- Business interruption insurance
- Commercial property insurance
The Best Handyman Insurance
#1. Next Insurance
NEXT Insurance offers one of the best handyman insurance for many different kinds of vocations, but it is particularly sensitive to the requirements of handyman contractors. Business owners may submit claims, change policies, and share a certificate of insurance using the NEXT mobile app at any time and from any place, including while on the job. Thus, policyholders won’t have to wait long to find out whether their claim has been authorized thanks to NEXT’s quick claims procedure, which often returns verdicts on claims within 48 hours.
Online price quotes are the only option for customers, who will likely find the process to be quick and easy. Meanwhile, customers may personalize their Handyman Insurance Quote to meet their particular requirements by selecting from a wide range of policy terms, coverage choices, and information about their business throughout the lengthy online quotation process.
Another key asset of NEXT is its customer service, with virtual agents available through the website’s online chat function to assist visitors.
Specs
- Area covered: 50 U.S. states plus D.C.
- $300,000 to $1 million in coverage
- Online Handyman Insurance Quote Process
- Online, phone, and app claims processes
Pros
- 48-hour claim determinations are made quickly.
- An easy-to-use, detail-oriented quoting procedure
- Easy and quick online enrollment
- Easy policy administration with a mobile app
- Bundles with affordable discounts for policies covering workers’ compensation and property insurance
- Live agents are available for responsive online conversation.
Cons
- Quote completion over the phone is not possible.
#2. Thimble
When it comes to the best handyman insurance, Thimble is one of the companies that put the greatest emphasis on technology. Customers can get a quote and purchase coverage fully online, which is incredibly convenient for business owners who don’t have time to meet with an agent. Nevertheless, this emphasis on technology extends to the company’s customer assistance, which is entirely handled online through the website.
Customers of Thimble Insurance may change their plans at any time by adding endorsements, altering the conditions of their coverage, or obtaining their insurance certificates to show new customers. Similarly, the flexibility to change policy conditions on the spot, including halting or terminating coverage as needed, is one of Thimble’s most noteworthy features.
Additionally, customers may buy coverage for certain lengths of time, such as a year, a month, a day, or even a few hours.
Specs
- Area covered: 50 U.S. states plus D.C.
- • $1 mіllіоnоr $2 million in соvеrаgе
- Handyman Insurance Quote is processed online.
- Online claims processing
Pros
- A flexible selection of policy lengths
- Policies may be changed, suspended, or terminated at any moment.
- Easy policy administration with a mobile app
- Easy and quick online enrollment
Cons
- Fewer customer service choices
#3. The Hartford
Hartford aims to establish every customer relationship on a strong foundation. By quickly limiting their policy selections at the beginning, new clients might possibly save time and money by forgoing unnecessary coverage purchases.
Moreover, the company’s 24/7 customer service line may be reached even if the online quotation procedure may not always be the most user-friendly. Hartford equally provides a broad selection of coverage levels to fit the requirements of handyman firms of all sizes. Handyman insurance plans may be restricted in terms of equipment coverage and monthly payment alternatives.
Specs
- Area covered: 50 U.S. states plus D.C.
- $500,000 to $2,000,000 in coverage
- Handyman Insurance Quote Procedure: online, phone, and agent
- Online, phone and agent claims processes
- $500 to $5,000 in deductions
Pros
- A significant variety of coverage amounts, from $500,000 to $2 million.
- Individual evaluation reports help decide the best policy to implement.
Cons
- Relatively difficult online quote procedure
- Not all policy terms may be eligible for the monthly payment option.
- Lack of availability of tools and equipment covering
#4. Hiscox
Hiscox has a robust online and digital presence, making it possible for potential clients to apply for a policy immediately on the business website. Customers may actually receive quotes and buy coverage totally online without ever having to talk to an insurance agent, which may be incredibly helpful for time-pressed handyman contractors.
Customers may readily contact agents for updates using the site’s virtual chat facility, even if the firm can take 10 to 20 days to process or reject insurance claims.
Depending on where a business is located, handyman insurance coverage may differ, but qualified handyman contractors will discover that they have access to a broad variety of coverage levels, from $300,000 to $2 million. Therefore, they should be able to receive the necessary amount of protection without spending more than they need to. The Hiscox website also offers a number of online tools to assist handyman professionals of all levels in running their companies more effectively.
Specs
- Range of coverage: varying by state
- $300,000 to $2,000,000 in coverage
- Online and phone quote processes
- Online, over the phone, or by mail
Pros
- $300,000 to $2 million in a very broad coverage amount range
- Easy and quick online enrollment
- Live agents are available for responsive online conversation.
- Practical and best handyman insurance resources and business tools
Cons
- Every state has a different handyman insurance quote.
- A relatively extended claim determination window of 10 to 20 days
#5. CoverWallet
Although CoverWallet offers a lot, the many coverage choices that may be included in a handyman insurance policy are what truly set this company apart. In addition to many additional insurance alternatives, customers may customize their policy to protect their companies and themselves against expensive operational disruptions, injuries that prohibit them or their workers from working, and equipment failure.
Because there are so many alternatives available, CoverWallet has developed a short online evaluation tool to assist consumers in deciding which type of policy will best suit their business requirements. While online agents may take up to 24 hours to reply to questions, CoverWallet provides 24/7 help over the phone, so representatives are always accessible in some fashion. Policyholders may also contact customer service via a number of means.
Specs
- Area covered: 50 U.S. states plus D.C.
- Amount of coverage: $1 million
- Handyman Insurance Quote is Online and phone processes
- Online and telephone claim processes
Pros
- A very large variety of add-on policies are available.
- Individual evaluation reports help decide the best policy to implement.
- Each quotation has a specific agent associated with it.
Cons
- Relatively slow reaction time during 24-hour online chats
#6. Progressive Commercial
Customers who opt to combine their handyman insurance with vehicle insurance coverage may be eligible for savings from Progressive Business, which provides reasonably affordable insurance rates.
Despite this, the bundle options offered by Progressive may be highly alluring to business owners searching for ways to lower their handyman insurance expenses. Also, customers may get a discount when they combine handyman insurance with either personal or business vehicle plans. Progressive may also provide rather affordable insurance rates, possibly lowering the cost of protection for contractors, depending on the particular policy terms chosen.
The mobile app from Progressive allows consumers to access and manage their policies whenever they want. Even if potential customers may not be able to acquire an online estimate for all policy conditions, tools, and equipment coverage are completely unavailable. While on the job site or the road, policyholders may access papers like insurance certificates immediately from their smartphones.
Specs
- Area covered: 50 U.S. states plus D.C.
- Amount of coverage: $1 million
- Handyman Insurance Quote Procedure: online, phone, and agent
- Online, phone and agent claims processes
- From $0 to $1,000 in deductions
Pros
- Rates might be rather cheap.
- Cost-effective packages for personal and business car insurance coverage
- Easy policy administration with a mobile app
Cons
- Not all policy terms may be accessible for online quotes.
- Lack of availability of tools and equipment covering
How Much Does Handyman Business Insurance Cost?
There are a number of variables that might affect how much handyman business insurance costs. The cost of handyman insurance is reasonable. Thereby, the average annual cost of the policy is between $350 and $1,000. The monthly or annual cost of handyman insurance is $65 on average. This only applies to general liability insurance, which is the most important kind of policy for any handyman. Of course, the cost will rise as you acquire additional coverage.
What Is a Self-Employed Handyman Insurance?
Self-employed handyman insurance is a type of insurance coverage designed specifically for individuals who work as independent contractors or self-employed handymen. It typically provides protection against liabilities and risks associated with its handyman services. This may include general liability insurance, which covers third-party bodily injury or property damage claims, and other optional coverages.
What Is a Cheap Handyman Insurance?
Cheap handyman insurance refers to insurance coverage that is relatively affordable while still providing the necessary protection for your handyman business. The cost of insurance can vary between insurance providers, so it’s important to compare quotes and coverage options to find the most cost-effective solution. However, it’s essential to ensure that the policy adequately covers your specific risks and liabilities, as choosing a policy solely based on price may leave you underinsured.
What Is the Difference Between a CA Handyman and a Contractor?
In California (CA), the difference between a handyman in California and a contractor lies in the scope and type of work they can perform. A handyman is typically limited to performing minor repairs, maintenance tasks, and small projects that do not require a specialized license. They usually work on projects that are less than $500 in labor and materials combined. On the other hand, a contractor is licensed to perform larger construction or remodeling projects that exceed the limits of a handyman’s scope.
Can I Sue a Handyman in California?
Yes, you can sue a handyman in California if you believe they have caused you harm or if there has been a breach of contract. However, the specific circumstances and the basis for your claim will determine the outcome of the lawsuit.
See Also SMALL BUSINESS INSURANCE: Overview, Liability, Requirements, Costs
Conclusion
Choosing the best handyman insurance is a great way for handymen to take the guesswork out of their insurance needs. With protection in the form of general liability, property damage, workers’ compensation, and excess liability, handymen can rest assured they are covered in the event of an unforeseen accident. The right policy also includes business interruption insurance, which can be incredibly important in helping keep a business running when unexpected events occur.
Handyman Insurance FAQs
Who Should Get Handyman Insurance?
You need handyman insurance if you provide compensated services, even as a side hustle, fixing up and making minor improvements to people’s houses. You should, at the very least, have liability insurance in case one of your clients sues you for injuries or property damage.
Does a handyman need to be bonded?
Yes, a handyman you hire has to have a bond. When a handyman is bonded, the customer is financially protected in the event that the project is badly completed or the contractor does not finish it. The likelihood of being hired for a project is much greater if you are bonded as a handyman than if you are not. Being bonded gives the customer some peace of mind that you’ll provide sufficient and respectable service.
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