If you're a handyman or carpenter, you know that having the right insurance is essential to protecting your business.
As a solo or small handyman/carpentry business, it can often be difficult to find an insurance policy that you can afford, that's got a good rate that also provides you with the coverage you need.
Today we're going to explain exactly how you do that.
Watch the video below to learn more...
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Handyman & Carpentry Insurance: What You Need to Know
When it comes to carpentry/general handyman-type insurance, you have a few different options.
Here at Rogue Risk, we write these policies for contractors all day long, and one of the things that we immediately address is what type of operation are you?
Are you residential? Are you commercial? Are you some hybrid in the middle?
primarily residential
If you are a predominantly residential handyman/carpenter, there are very inexpensive options that are going to provide you with more than enough general liability at a price that's going to fit your budget.
It will set you up for both tools, and coverage, and if anything were ever to happen on the property, you would have coverage.
Now, some caveats to that are, you really can't use or shouldn't be using subcontractors. You don't want to be walking into very many situations in which your client is going to ask for a certificate of insurance.
If you're not working as a sub or bringing on subs very often, and you don't have a ton of clients that ask for certificates of insurance, then you can get set up with a very straightforward policy.
It's going to be right inside your budget.
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commercial jobs
If you are working commercial jobs, if you are subbing in contractors to finish out jobs for you, if you are also acting as a sub more than 25% of the time, then there is a different insurance policy for you.
They will remove some of the exclusions for things like action over coverage.
They may provide additional insured statuses like primary non-contributory, and waiver of subrogation.
They're going to have a broader spectrum of coverages for your equipment, for your tools, and for traveling between jobs.
They even provide you, if you need be, with higher limits for your general liability and potentially umbrella policies as well if a commercial job is asking you to have an umbrella to get on that job.
It's very important to know where you fall within the spectrum.
Additionally, are you constantly nonpaying? Are you constantly getting letters for nonpayment? That will hinder your ability to get into the most premium-priced products.
The really low, inexpensive options; those are going to become more expensive with non-payments.
We help you work through the process of getting set up so that you don't have cancels for non-pay.
It is also so that you're in the most coverage that you can get, the coverage that you need at the price that fits your budget.
It doesn't take very much time, but it does take walking through a very simple process; a few questions, and we can get you squared away.
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The Rub
If you have a handyman or carpentry business, it's important to make sure you're properly insured.
There are many different types of policies available, so it's important to choose one that meets your needs.
Be sure to talk to an insurance agent who specializes in insuring small businesses to get the best coverage for your needs.
This is where we come in at Rogue Risk.
If your current insurance professional has never addressed issues like this with you before, I’d encourage you to reach out to us today.
- You can call or text us at 518.960.6600
- Click here to contact us via email.
I look forward to introducing you to a new way of viewing your insurance program.
Thank you,
Ryan Hanley
