Handymen operating in the Ontario area really have it made right now, as they don’t have any problem whatsoever finding work. That being said, there are a lot of responsibilities that come along with the job. The risks of being a handyman are truly unique. One day you might find yourself dealing with an electrical shortage and the next you might find yourself dealing with a leaky pipe. Whatever the situation is, the uniqueness of your job opens you up to an insurmountable number of risks. This is why it is more important than ever to make sure that you are protected with the right policies and amount of coverage.
Handyman General Liability Insurance
Whether you plan on opening a large operation or just a one-man shop, you are going to need to acquire general liability insurance. Not only will most contracts require this policy, but also it can offer the protection against the risks that you are exposed to on a daily basis. General liability insurance will protect you in the event that you cause property damage to a customer’s home or business. It will also protect you in the event that you cause bodily harm to a customer. What exactly does this mean?
Well, imagine if you are working in a customer’s home and you are sanding a wall. If the customer walks in and inhales drywall dust and claims that you caused him or her to develop a lung infection, you are going to be liable for the medical expenses. This might seem like an unlikely situation, but it isn’t.
This policy will also protect you in the event that you cause property damage. For instance, it is possible that you might fall through the ceiling, while you are repairing a leak or fixing wiring issues in the attic. Maybe you damage the customer’s car when you are working on the roof. Whatever the issue is, handyman’s general liability insurance will offer the coverage you need. ACHP-Canada recommends acquiring at least a $2,000,000 policy to ensure that you are protected at all times.
General Liability Coverage Needs Can Vary
You just learned that a $2,000,000 coverage policy should be sufficient to cover the average handyman. However, there are other factors that can determine the amount of coverage that you need. If you plan on working in commercial and industrial locations, you might want to invest in a higher policy, because you will be dealing with much more expensive property. In fact, in order to even bid on some commercial contracts in Canada, you will be required to obtain a $3 or $5 million-dollar policy.
The number of employees that you have might also make you want to consider the amount of coverage that you acquire. If you have ten or twenty employees out there everyday doing jobs, it really raises the risks for an incident.
Protecting You Against Lawsuits
As mentioned above, general liability insurance could protect you in the event that you cause property damage or bodily harm to a customer. However, there is another unique way in which it can protect you and perhaps this is the most important protection of the policy. There are certain situations when a customer might feel like repairing the damages or paying for the medical expenses isn’t enough. In these types of situations, the customer has the legal right to take you to court.
Whether you are at fault or not, you are going to spend hours and tons of money battling the lawsuit. If you lose you might end of in financial ruin. General liability situation can offer the protection that you need in these situations. It will cover any fees, court fines, and lawyer expenses that you incur throughout the entirety of the trial. There are some providers that will even specialize these policies to cover some of the settlement in the event that you lose the trail.
Getting Quotes Is Extremely Important
Any handyman will quickly discover that there are a number of insurance providers in the Ontario area. This is a good thing, because it gives you a wide competing market to search through and find a provider that can meet all your specific needs. That being said, not all providers Ontario are created equal. Some might offer different polices, while others will offer different prices. This is why it is important to get as many quotes as possible before choosing one. This is will give you a chance to see what they have to offer and how much they are charging.
Quotes are free and getting them from any reputable insurance provider is easy. We recommend going to ProfessionalsCoverage to apply for handyman insurance as they are licensed to operate Ontario wide. All you have to do is visit their official website and enter in your businesses’ information. You can also get quotes over the phone or in person, if you prefer these methods to the online option.