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Being a handyman or handywoman can be a profitable and rewarding line of work, but the path comes with some risks. People in this line of work must consider both property- and liability-related perils that they face. Handyman insurance helps shield Massachusetts professions who offer basic maintenance and repair from many of the perils that they’re exposed to.
Handyman insurance is a specialized type of commercial insurance. It’s been uniquely tailored to meet the needs of professionals who offer basic maintenance and repair services. In order to give these professionals the multifaceted protection that they need, most handyman policies come as package policies and have several coverages within them.
Broadly speaking, most Massachusetts professionals who offer basic maintenance and repair services should have a handyman policy in place. Professionals can be dangerously exposed to sizeable risks if they don’t have insurance, and this typically is the most appropriate type of insurance for these workers.
Professionals who offer more specialized maintenance and repair services might have some coverage needs in common with handyman, but specialized professionals are generally advised to get a policy that’s more specifically tailored to their particular trade. Electricians usually should have electrician insurance rather than a handyman policy, for example, and roofers probably ought to get roofing insurance. These other policies have some slightly different protections that are more appropriate in certain situations.
Anyone who’s unclear whether a handyman or other type of insurance policy is right for them can seek advice from an insurance agent who specializes in this kind of insurance. A specialized commercial agent will be able to provide informed guidance as to what type of insurance policy makes the most sense given a professional’s particular line of work.
Handymen and handywomen who work as employees and receive a W-2 document come tax time may be protected through their employer’s insurance policy. An agent can help these professionals review any insurance coverage their employer has for employees and determine whether an additional policy is needed.
Professionals who work for companies as independent contractors often aren’t automatically protected by another company’s insurance policy. In select circumstances, a contractor might be listed as an additional insured party, but this is not a standard practice. More often, independent contractors have to procure their own self-employed handyman insurance policy.
Professionals who purchase their own self-employed handyman insurance typically benefit from multiple protections. Some of the coverages that a policy might make available are:
The exact protections that a policy offers can differ.
The cost of self-employed handyman insurance varies, for premiums are based on many different factors. All of the following can sometimes influence premiums:
Despite the variance, however, premiums for these policies tend to be affordable.
For assistance selecting a handyman insurance policy, contact the independent insurance agents of The Feingold Companies. Our Massachusetts agents are able to show you quotes from multiple insurance companies, and they have the expertise necessary to help you select the best handyman policy from the ones that are available.