How insurance protects my small handyman business

You have built your small handyman business from scratch. You want to make sure that it is fully insured the moment you start operating. The good thing is that you can get different types of insurance policies to protect your business.

You might not realize it right now as you are too focused on advertising your business or looking for the best people to work for you. Later, you will realize that this insurance, like the handyman insurance by Next Insurance, is a good investment and when needed, you can count on the coverage you get. If you are not yet convinced to get insurance, here are some more reasons why you should.

Your employees might cause damage or injury

Imagine if one of your men accidentally flooded the first floor of an entire house while working on a faulty plumbing system. This could be very costly. You need insurance to have the cost of the cleanup and repair covered. Obviously, you will be asked by the owner to pay for the cost. The insurance company will have it covered.

Another possibility is if one of your clients trips on cables that you are using while working. As a result, he fractured a bone. Since it was your equipment that caused the injury, you will again be asked to pay for the medical bills. Your insurance will cover this for you.

Specifically, general liability insurance will help you if any of these unfortunate events happen. The good thing is that you can challenge the client for asking you to pay the cost. If you win the case, the insurance will help you pay for the legal defense fees. Speaking of defense, you can also use the insurance if you are protecting your business against libel, slander and other defamatory actions made against it.

Your tools also need to be protected

Handymen work well only if they have the right tools. Imagine if all of a sudden, someone broke in and stole all these tools. Your employees could no longer continue working. This is why you need property insurance. It allows you to insure the property where you keep the equipment and everything inside that building. The insurance will most probably cover the entire cost for replacing the tools.

There are a lot more reasons why you need such insurance policies. You never know what could happen as you operate the business. It is not always good times. If anything unexpected happens, at the very least you can protect the business. Compare the options now and determine the cost that your company can afford so that it is covered against the most likely eventualities.