As a Handyman the work that you do is varied. Arranging the right insurance policy for your business need not be complicated or time consuming, but it should be arranged to include all of your activities:
At Be Wiser our business insurance advisors can build a policy around your specific business requirements with our carefully selected panel of insurers.
Public Liability insurance is important for all trades and whilst not required by law, it’s prudent to have.
You may find that it’s a contractual requirement with your customer, principal contractor, trade association or similar type of organisation.
If Public Liability is a contractual requirement then you may find that the level of cover you need, called the limit of indemnity by insurance companies, is also stated. Typically this will be £1M, £2M, £5M or even as much as £10M especially if your work is for a local authority.
This is one of the most common questions asked for this type of business insurance policy and there’s no simple answer! Generally speaking you should buy as much as you can afford and certainly no less than £1M. Perhaps surprisingly buying more cover does not have to be expensive and doubling the limit of indemnity does not usually double the cost.
This is an important question for any Handyman. Most Tradesman insurance policies can be extended to include loss or damage to your tools and it’s well worth paying that little bit more for that extra peace of mind.
The insurance may be restricted to only cover incidents that happen whilst you are travelling, but some policies will cover your tools anywhere in the UK. It’s worth checking that your tools are insured as you would expect.
Most polices also include a tools single article limit, so if you have an especially expensive piece of equipment you may need to ask the insurance company to specifically note it.