Insurance for Handymen

What main types of insurance should a handyperson consider?

You may well need to consider additional types of cover for your individual needs, but in general, the following policies are some of the ones worth considering:

• Public Liability insurance
• Personal Accident and Illness insurance
• Business Insurance

Let’s have a look at those in a bit more detail.

Public Liability Insurance

Public Liability insurance can be compulsory for many Australian businesses. So, this is one worth looking at closely.

What does Public Liability insurance typically cover?

Public Liability insurance helps cover legal fees and compensation costs if a customer, member of the public, or a supplier sues you for injury or damage to their property as a result of your alleged negligent business activity.

Details vary between insurers so check the details with your provider, but generally, Public Liability covers the following:

• Legal Costs. If there is a claim made against you, lawyers’ fees can get big quickly. Public Liability insurance can help cover the costs..
• Loss or damage to other people’s property. Public Liability helps cover lost or damaged property which was under your supervision for business purposes.
• Third Party Injury. Can help provide coverage ifa member of the public, a customer, or a supplier is injured on your business premises, or due to your alleged negligence covered by Public Liability insurance too.

What is not normally covered by Public Liability Insurance?

One point to consider is that Public Liability Insurance helps cover the public – not you, your employees or your property.

Check your individual policy but, in general, the following things may not be covered by Public Liability Insurance.

• Damage to your own business property
• Injuries to employees of your business.
• Remedial work on bad workmanship.
• Contractual liability.
• Court imposed fines or punitive damages.

Personal Accident and Illness insurance for handymen and women

As a handyperson, what would happen if you had a minor accident, at work or home and broke your hand? A handyman that’s one hand down would be struggling to work.

Or you might suddenly get ill. If you’re not fit to work, how will you pay all the bills without an income?

Personal Accident and Illness insurance can provide levels of cover for loss of income if you are unable to work, permanent disablement and even death as a result of an unexpected injury or illness (even if it occurs outside of your employment).

As individual policies will vary, you’ll have to check these details with your provider.

What’s generally not covered by Personal Accident and Illness insurance?

Typically, the following things may not be covered by these policies, but you should check the details with individual providers:

• Pre-existing conditions and any injuries or illness resulting from them.
• Pregnancy and childbirth leave.
• Injury or illness due to an intentional criminal act by you.
• Alcohol or drug-related illness or injury.
• Injuries resulting from professional sports and motorsports

Business Insurance

Obviously, you are your business’ main asset. But even you couldn’t do your job without your gear.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage).

A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances. In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.

General Property Cover can cover things such as:

• Damage – caused by fires, storms, water, explosions, impact or malicious vandalism
• Equipment in transit –Your equipment can also be covered if being conveyed in a vehicle
• Equipment stolen – If your equipment was securely attached by locks or padlocks to a vehicle
• Theft by forced entry from locked vehicles or locked buildings

General Property Cover will typically not cover things like:

• General wear and tear
• Cracking, scratching, or breakage of fragile items
• Rust, mildew, mould and rot,
• Damage from heating, drying, cleaning, dyeing or alteration to any insured item
• Faulty materials or workmanship causing damage to an item
• Theft by your employees
• Unexplained inventory shortage

How do I find policies that might suit me?

iSelect has partnered with BizCover to help you find a policy which you may find handy for your business.

You can start checking for suitable policies from a range of policies right now online.