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Whether you are attached to a franchise such as Jim’s Building Maintenance, Grey Army or Hire a Hubby, or if you are a one man band, we are here to ensure your handyman insurance is affordable and comprehensive.
As one of Australia’s largest and fastest growing trade insurers with over 20 years in the industry, we have the expertise, experience, and knowledge to find the right solution for you.
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What Insurance Does a Handyman Need?
A handyman in Australia needs several types of insurance to protect themselves and their business. These include:
- Public liability insurance: This type of insurance covers you if you cause damage to someone else’s property or injure someone while working. It can also cover legal fees if you are sued for damages.
- Tool insurance: This type of insurance covers your tools and equipment against theft, loss, or damage.
- Professional indemnity insurance: This insurance covers you if you make a mistake or provide incorrect advice that results in financial loss for their client.
- Commercial vehicle insurance: This covers any business vehicles you own for accidental damage because of the actions of you or your staff member.
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Why Is Public Liability Insurance Important?
Public liability insurance is important for handymen for several reasons:
- Protection against claims: Public liability insurance covers a business against claims made by third parties for property damage or physical injury that may occur during trading. This is important for handymen as they may be held liable for any damage or injury caused by their work.
- Legal requirements: In Australia, public liability insurance is mandatory for most businesses, including handymen, depending on what state or territory you are in. Failure to have this insurance can result in fines or legal action.
- Peace of mind: Having public liability insurance can give handymen peace of mind knowing that they are protected against potential claims and lawsuits.
- Business continuity: In the event of a claim, public liability insurance can help a handyman to continue operating by covering the costs of legal fees and compensation payments.
What Does Public Liability Insurance Cover?
What Is Covered?
- Compensation costs for personal injury suffered by a third party (e.g. a customer, supplier or member of the public)
- Compensation for damage to property owned by a third party due to your negligent business activities
- The legal and defence costs associated with a covered claim
- Compensation for damage of third-party goods not owned by you that are in your care, custody, or control
- Coverage of either $5 million, $10 million, or $20 million
- Many public liability policies also provide cover for product liability
What Isn't Covered?
- Injuries to your employees
- Damage to your own property
- Costs of rectifying faulty workmanship or product recall
- Professional negligence
- Events occurring before or after the policy period
- Aircraft products
- Asbestos
- Liquidated damages
- Punitive damages where the insured party acted so badly that extra damages were awarded
- Liabilities assumed under contract that the insured would not be liable for at common law
Why is Tools Insurance Important?
Tools insurance is important for handymen in Australia for several reasons:
- Protection of tools and equipment: Tools insurance covers the cost of replacing or repairing tools and equipment that are damaged or stolen while on the job. This is important for handymen as they often work with expensive and specialised equipment.
- Liability protection: Handymen can be held liable for damage or injury caused by their work. Tools insurance can provide liability protection in case of accidents or damage caused by the use of tools and equipment.
- Customisable coverage: Tools insurance policies can be customised to fit the specific needs of a handyman This means that companies can choose the level of coverage that is appropriate for your business.
- Compliance with regulations: In some cases, tools insurance may be required by law or by the terms of a contract. Having tools insurance can help handymen comply with these regulations and avoid penalties.
What Does Tools Insurance Cover?
What Is Covered?
- Ladders and landscaping equipment
- Hand-held power tools such as hand saws, drills, or electric planers
- Standard tools like hammers, wrenches, and bolt cutters
- Hired tools and portable equipment
What Isn't Covered?
- Equipment and machinery that are not portable are typically excluded from tool insurance
- Tools that are damaged intentionally to collect insurance money are excluded from any insurance payout
- Insurers will not cover tools damaged because of improper use under a tool insurance policy
- Tools left unattended may not be covered. Find out the specifics of your policy by speaking with an insurance professional.
Why Is Professional Indemnity Insurance Important?
Professional indemnity insurance is important for handymen in Australia for several reasons:
- Protection against claims: Professional indemnity insurance provides financial protection in the event of a claim against a handyman. This can include claims related to professional negligence, errors or omissions, or breach of professional duty.
- Legal costs: In the event of a claim, legal costs can quickly add up. Professional indemnity insurance can cover these costs, including the cost of hiring a lawyer and any court fees.
- Reputation management: Some professional indemnity insurance policies include cover for public relations expenses. This can help restore a company’s reputation in the event of a claim.
- Peace of mind: Having professional indemnity insurance can give handymen peace of mind, knowing that they are protected in the event of a claim. This can help them focus on their work and grow their business.
What Professional Indemnity Insurance Cover?
What Is Covered?
- Breaches of duty, including claims from privacy breaches like breaches of confidentiality and fiduciary duty, as well as professional duties that have been overlooked
- Damages due to the dishonest and negligent actions of employees
- Breaches of trade practices and fair-trading acts
- Defamation cases arising out of professional advice or services
- Public relations expenses to help protect your business’ reputation.
What Isn't Covered?
- Illegal acts
- Punitive and exemplary damages (when a judge has found a professional to be exceedingly negligent)
- Intentional damage, which generally includes any acts, errors or omissions from the insured professional that intended or could reasonably foresee loss, injury or damage caused to a third party
- Any claim relating to asbestos
- Employee injuries sustained while working or carrying out your business’s activities (this would be covered under worker’s compensation insurance)
- Public liability claims.
Why Is Commercial Vehicle Insurance Important?
Commercial vehicle insurance is important for a handyman in Australia for several reasons. These include:
- Protection for your work vehicle: As a handyman, you rely on your vehicle to transport tools, equipment, and materials to and from job sites. Commercial vehicle insurance provides coverage for damages to your vehicle, theft, and third-party liability in case of an accident.
- Coverage for tools and equipment: A comprehensive commercial vehicle insurance policy can also include coverage for your tools and equipment, protecting them from theft, fire damage, or damage caused in a vehicle collision or rollover.
- Financial protection against liability claims: In the course of your work, you may accidentally cause property damage or bodily injury to a third party. Commercial vehicle insurance can help cover the costs of legal fees, settlements, or judgments resulting from these liability claims.
- Peace of mind and business continuity: Having the right insurance coverage in place ensures that you can continue working and serving your clients even in the face of unexpected events or accidents. It provides peace of mind knowing that you are protected financially and can recover from potential losses.
- Compliance with legal requirements: In some states or territories in Australia, it is mandatory for businesses to have commercial vehicle insurance. By having the appropriate insurance coverage, you can avoid potential legal issues and penalties.
What Does Commercial Vehicle Insurance Cover?
What Is Covered?
- Articulated trailers
- Caravans
- Cranes
- Excavators and bobcats
- Forklifts
- Front end loaders
- Graders
- Light and heavy rigid movers
- Prime movers
- Vans and utes
What Isn't Covered?
- Pre-existing damage
- Inebriated or impaired drivers
- Failure to disclose information
- Rental vehicles
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