Self-Employed Handyman: What Insurance Do You Need?

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Few people are as in demand as a handyman. The name says it all really, the ability to turn your hand to any task, big or small, can be nice little earner. Of course, how much you manage to earn can depend greatly on your reputation and word of mouth is a valuable currency when it comes to being a self-employed handyman.

Having a professional approach is key, and that doesn’t just mean doing a good job. Being well prepared for unexpected mishaps also shows that you are operating a quality operation. That’s why is essential to have the right handyman insurance in place. So what do you need? There a few crucial components you need to consider.

Public liability insurance

An essential form of cover for a self-employed handyman. Considering you are in and out of customer’s houses or offices day in, day out, the risk of something going wrong is always considerable. Even the most cautious of workers can’t prevent all accidents.

Public liability will cover you if your work as handyman causes a client or member of the public to suffer injury, illness or damage to your property. Claims can sometimes run into tens of thousands of pounds, so not having cover could put your operation in real danger if a claim is made against you.

 

Personal accident & sickness cover

As a self-employed handyman, you will rely on jobs to keep the money coming in. Time spent off the job means lost revenue so if you cannot work due to injury or illness, then your finances take a hit. Personal accident and sickness cover will help provide you with much-needed funds when you are out of action. I can also help with medical bills and other associated costs.

 

Professional liability insurance

The ability to stand over your work is an important aspect of any handyman’s work. However,  disgruntled customers may not share your outlook. Professional liability is designed to help you contest claims made against you my clients who believe that your work has been sub-standard and that they have suffered some form of loss or damage as a result.

All forms of cover will come with indemnity limits, which is the maximum an insurer will pay out on any individual claim. Limits can usually be set at £1 million, £2 million and £5 million and the cost of your premium will depend on what level of cover you take out.

Any claim you make on insurance will also be subject to an excess, which is the amount of money you must pay towards a claim. These are usually set at around £250 but can be altered to suit your requirements.

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*This indicative price is for £1m public and products liability, £250,000 legal expenses, £10,000 financial loss and £10,000 accidental death insurance cover for a sole trader. The price includes insurance premium tax and our admin charge. 22% of new customers paid less than £58 between 1st January 2019 and 31st August 2019. The actual price you pay will depend upon your specific business requirements and will be affected by your trade, your claims history and the optional covers you select which are all priced separately during the quote process. This website is intended for customers based in the UK and is therefore subject to the UK regulatory regime(s) © Copyright 2019 Tradesman Saver | Tradesman Saver and Henry Seymour & Co. are trading names of Barkdene Limited which is authorised and regulated by the Financial Conduct Authority (FRN 303965) for our insurance distribution and credit broking activities. Barkdene Limited is a credit broker not a lender. You can check this on the Financial Services register https://register.fca.org.uk/.
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