Handyman insurance- The ultimate solution to these problems
A handyman is a person who does odd jobs in our houses. He repairs a leaky toilet, patches a hole on the wall, and repairs a fly screen. He once formed a very crucial part of the locality. We all required his services. He comfortably earned enough to sustain his family. However, things are no longer easy for him. There are different problems that a handyman has to face in today’s world. Let’s try to understand 5 of these. After reading this article, you will know the solution to many of these problems.
- Life expenses have increased significantly. People are looking to save all the money that they can. This makes them try their hands at doing odd jobs at their houses. This means the job opportunities of a handyman are becoming increasingly limited.
- Another problem that a handyman face is the possibility of bodily injuries during work. This is a problem that he has always faced. But unlike olden days, medical expenses are very high today. Paying medical bills during a mishap can burn a huge hole in his pocket.
- There is a possibility of damage to property during work. This can happen due to negligence from the handyman or that from one of his team members. During such a situation, the compensation asked by the client is very high. This puts huge financial stress on him.
- Many services offered by a handyman are seasonal. For example, a handyman is needed to check for air leaks and repair geysers only during winters. This affects his income significantly.
- Another problem handyman faces is theft. His toolbox can be stolen by a thief. This is devastating for him. If the tools are not recovered from the thief, he has to respend money to buy all that equipment.
The solution to all these problems
The solution to all these 5 problems is very simple. It’s called handyman insurance. Taking the insurance can be a life savior to the handyman. The insurance is a combination of different policies. Let’s understand these different types and how each one helps him.
The basic handyman insurance covers general liability and commercial auto. General liability relieves the handyman contractor of financial stress in case of an accident. Commercial auto is applicable in case he uses a vehicle to work which needs to be insured.
Another policy a handyman should take is the general business owner policy (BOP). This policy is for businesses with less than 100 employees and annual revenue of less than 5 million US dollars. This policy insures the handyman against loss of income, property damage, and any injury during work. Workers’ compensation applies to a handyman who has people working under him. If any employee is injured during work, this policy comes to his rescue.
Life of a handyman is not a bed of roses. There are various problems that he faces in today’s world. Taking insurance can help him escape from many of these.