Top 5 Affordable Handyman Insurance Providers

There is a lot of risk to a handyman who goes into clients’ homes and businesses to perform certain construction and improvement jobs. You never know when something can go wrong and there will be a financial liability for the error. As a handyman business owner, a handyman should have liability insurance to cover this type of work. Here are some of the best insurance companies a handyman can find insurance with.  

Top 5 Affordable Handyman Insurance Providers

Best Overall: NEXT Insurance

Best for Bundling: Liberty Mutual

Best for Micro Businesses: Thimble

Best for Claims Service: The Hartford

Best Online Brokerage: Simply Business

Best Overall: NEXT Insurance

Why we chose it: NEXT Insurance is a leader for small business owners needing handyman insurance policies for an affordable price with an easy underwriting process to follow. 

NEXT Insurance offers a tailored commercial insurance policy for handymen. Designed to be affordable, small business owners can get up to 25% in discounts when buying with NEXT. A handyman can get general liability, workers’ compensation, contractors’ E&O, and tools and equipment coverage for their business to have comprehensive coverage. The process is easy and you can get an instant quote by completing the online application that takes just a couple of minutes. 

Best for Bundling: Liberty Mutual

Why we chose it: Liberty Mutual makes it easy to bundle policies together to get the most convenient insurance portfolio possible with the most bundling discounts available. 

Liberty Mutual’s handyman insurance is a contractor’s insurance policy, making it a comprehensive policy for the risks handymen face. You can get a quote online or via phone for convenience and the process is quick and easy. The insurance company suggests that handymen and other construction workers get commercial property insurance and general liability insurance to start with. Other policies you may want to bundle with those include commercial auto and tools and equipment coverage. 

Best for Micro Businesses: Thimble

Why we chose it: Thimble was designed for micro policies to handle the risks of any one particular job at a price that can be factored into the project budget. 

Thimble is known for its on-demnd policies that can be set up within minutes online to protect a handyman for the job he is about to do. This is ideal for handymen who don’t need regular insurance but want the protection of general liability while on particular jobs. There is a mobile app that supports each policy and small business owners can get a business owners’ policy, general liability, cyber security, and workers’ compensation insurance from Thimble. 

Best Claims Service: The Hartford

Why we chose it: The Hartford brings more than 100 years of experience to business insurance, helping business owners when it matters, during a claim. 

The Hartford is a leading small business insurance provider and offers a specialized handyman insurance policy to small business owners. The policy takes into consideration the specific risks that handymen face daily and packages the insurance in a way to be competitively priced. Aside from a business owners’ policy, The Hartford is also known for its workers’ compensation insurance. Claims specialists are empathetic and knowledgeable, and thus are able to help process claims quickly and effectively. 

Best Online Brokerage: Simply Business

Why we chose it: Simply Business does the insurance shopping for you to get the most competitive rates among top small business insurance companies. 

Shopping for business insurance can be confusing and time-consuming. Simply Business makes it easy by taking one online application and shopping for the best rates for you. You can get a business owners’ policy, general liability, workers’ compensation, and more through Simply Business. They partner with top carriers to ensure that you aren’t just getting a good price but are also getting a quality insurance company to back you. Claims are handled by the underwriting insurance company and not Simply Business. 

Criteria for Evaluating Insurance Providers

Policy Ape goes through an extensive review process to rank and rate insurance companies. Our process is looking at: 

• Coverage options and flexibility: Insurance companies should give consumers options for coverage and provide different policies to meet different needs. Consumers should be able to customize policies to fit their unique situations. 

• Pricing and value for money: We look for companies that offer competitive pricing for the policy in question and offer discounts when possible. 

• Reputation and financial stability: We look for companies with high AM Best ratings and that have a reputation for underwriting small business policies in a straightforward fashion. 

• Customer service and support: Companies that have a reputation for quality customer support fare better than those that don’t.

• Claims process and efficiency: Claims should be straightforward, and when possible, monitored by an app that allows business owners to follow the claim throughout the process.  

Why Handyman Insurance Is Important

Handyman insurance is important to protect your business assets during a claim or loss. You never know when something bad might happen, such as your tools scratching a client’s car while being transported. This can lead to a claim that would cost the handyman money out of pocket if it weren’t for the insurance. Some jurisdictions may have legal requirements for handymen to carry a minimal amount of insurance and ultimately it gives clients peace of mind that they are working with a professional. 

How to Choose the Right Provider for You

There are a lot of insurance companies to choose from. Here’s how to choose the right provider for you:

• Assess your business needs: Consider the amount of work you do and what the risk is to your personal assets.
• Compare quotes: Get quotes from several providers to see who can give you the best coverage for the best price.
• Read through policy terms: Understand what is covered and what is excluded. This will help you have a better claims experience in the end.