However you describe yourself, whether you’re a property maintenance professional, a handyman or woman, or a general maintenance contractor, your role is among the most diverse and challenging trades. To give you the support you need, Park Insurance is here to help you protect yourself and your business with handyman insurance tailored to your needs.
This page will introduce you to our range of handyman business insurance and what each type of cover offers. Our expert advisors are always on hand to give you that one-to-one attention and to customise your package, so you never end up paying for insurance you don’t need!
Why take out handyman insurance?
The daily routine of a handyman involves everything from fixing the hinges on a broken door or window to basic plumbing and electrical repairs. It can include fixing a garden shed or repairing some cracked plaster. Whatever you do, you’re working with power tools and fragile materials in often very confined spaces. And that can lead to accidents and mishaps.
Other issues, such as theft of tools from vehicles, property damage, and injuries that prevent you from working, can all impact your ability to earn a living. Our tradespeople insurance ensures you’re cushioned against financial hardship and the cost of compensation claims and that you and your family are financially protected.
Handyman public Liability Insurance – your must-have cover
The number one insurance you’ll need is Public Liability insurance or PLI. This protects you from the financial consequences of compensation claims for personal injury or damage to property. Without PLI, if your actions are found to be liable for an injury to a third party, you could end up paying thousands in compensation and court costs.
It’s also worth remembering that many businesses will not employ contractors who do not have PLI. Taking out effective cover with Park Insurance means it’s easier to run your business your way. Handyman Public Liability Insurance forms the core of any handyman insurance package.
What other insurance is on offer?
As well as PLI, you can tailor your handyman business insurance with a selection of different elements. These include:
- Employers’ liability – if you employ anyone, including family members and part-time workers, you must have Employer’s Liability insurance. This is the only insurance that is legally required.
- Tools and business equipment – without your tools and equipment, you cannot do your job, and they are expensive to replace if they are lost, stolen or damaged. It pays to have a policy covering the financial cost of replacing those tools.
- Specialist motor insurance – if you use a commercial vehicle to do your job, you will need commercial vehicle insurance. This can also include cover for tools and possessions carried in your vehicle, providing essential protection for your most valuable assets.
- Stock and materials – if you invest in stock and materials for a job, you want to ensure they are protected while in storage, transit or on-site.
- Contract works – Catastrophic events such as floods, fire or theft, or the devastation caused by vandalism can damage an ongoing project. Contract works covers you against incidences that are beyond your control.
- Legal expenses – legal disputes can and do happen. If you face a legal case against a customer or supplier, this type of cover protects you from the financial impact of legal costs.
- Personal accident – accidents can be life-changing and stop you from working, effectively cutting off your ability to earn a living. Personal accident insurance gives you and your family financial peace of mind.
- Professional indemnity – if you offer an advisory service as part of your business, professional indemnity insurance ensures that you are financially protected should a client claim compensation for negligence or inaccurate advice.
While these different insurance coverages make up the majority of most packages, there are additional extras that could also help, including:
- Income protection insurance – essentially a replacement income if you cannot work due to illness or injury.
- Critical illness insurance – similar to income protection, but rather than receiving a replacement income, you are given a one-off, tax-exempt payment.
- Business life insurance – protects your family financially in the event of your death.
Do I really need handyman insurance?
The simple answer is yes. You can take out as little or as much handyman business insurance as you want, but the vast majority of professional tradespeople choose to protect themselves and their business with comprehensive packages.
It will depend on the kind of work you do, and how much insurance you feel comfortable taking out. It’s also down to whether you want to cover things like your equipment, your financial future, and your ability to cover any legal costs.
Some insurance covers are mandatory, particularly Employer’s Liability insurance if you have people working for you (even part-time). If you fail to have Employer’s Liability you could be fined up to £2,500 a day. The other essential specialist insurance is commercial vehicle cover, which ensures you stay on the right side of the law when using a vehicle for business rather than domestic use.
How much will it cost?
Handyman insurance doesn’t cost the earth, and your advisor can help you put together a package that suits your budget. What you have to ask is how much would it potentially cost you not to have insurance?
Park Insurance – talk to the professionals
For over 30 years, Park Insurance has been working with the local community and offering specialist insurance specifically designed to make life easier and less stressful for sole traders and SMEs. Our team of advisors aren’t just skilled in financial matters – they understand the ‘real world’ challenges of running your own business. They’re here to give you honest, no-nonsense advice on all your handyman insurance needs. Contact us today for an in-depth, no-obligation consultation.