Business Insurance for the Handyman
Business Insurance for a Handyman*
If you work as a handyman the nature of your everyday work presents a number of risks.
Whether you are a handyman working as a sole trader or contractor, its important you get suitable and affordable handyman insurance to protect yourself and your business from potential claims that may arise from your work activities.
Types of insurance cover for handyman business owners to consider*
- Public liability insurance– may protect you against claims from harm to other people or their property caused from your handyman activities ; work at site including unauthorized
- Product liability– may protect a handyman when products you have supplied, repaired or manufactured cause harm, injure someone or cause property damage.
- General property insurance – may cover damage or loss to and business equipment such as tools, mobiles , computers , power equipment , or stock such as timber or frames.
- Business insurance pack– you may be able to combine multiple covers in a specially designed policy for a handyman business. Ask your SMART broker for details.
- Marine cargo– cover if you receive or send goods such as building materials via post or freight.
- Professional indemnity– if you provide professional advice or a fee.
- Commercial motor– may cover any vehicle – car, van, light truck – that you own and use mainly for business
- Income Protection– to protect your personal income if you can’t work for an extended period
- Life Insurance– to protect your family
Trying to work out what insurance your handyman business needs?
We may be able to assist.
Wherever you are in Australia when you contact SMART business insurance, your friendly business insurance broker may be able to help answer your questions and find you suitable and affordable insurance for your handyman business.
How much will handyman insurance cost?*
So, how much will handyman insurance cost you?
The core insurance for handymen in Australia is public liability insurance.
Public liability Insurance costs for a handyman vary significantly based on your size, clients, experience, claims history and specific handyman business activities.
Please note: While cheap handyman Public Liability Insurance can seem attractive on the surface it is important to ensure the policy covers you for the business activities you undertake and the insurance policy and company will respond as intended when there is a claim.
For handymen that:
- undertake “risky work”
- have employees,
- are looking for costs and quotes on other covers you may need; such as product liability, business insurance pack, general property, commercial motor, or any of those above.
Business risks for a handyman*
The various risks a handyman is exposed to from their handyman business include:
- Damage to someone else’s property from your handyman work activities
- damage or loss/theft of your property such as tools
- harm to yourself, an employee, sub contactor or someone else, slips and falls, tools, materials, fire and liability hazards on site.
Tip: Disclose ALL of your handyman business activities to your insurance broker no matter how infrequently you perform that type of work. Some types of work undertaken by a” handyman” are a lot risker than others, and insurance policies are priced according to risk. Failure to disclose any type of work you perform means you will not be covered if an incident occurs while undertaking any undisclosed type of work activity. Insurance for handyman is an important aspect for your business, so speak to a SMART broker to get the right advice.