The Tradesman and Handyman Franchises industry in Australia has grown consistently over the past five years, and currently contributes approximately $943.1 million to the economy annually.
Most people operating in this industry are sole traders that perform a range of physical jobs such as gardening, building maintenance, plumbing, fencing and painting. The industry as a whole has benefited from an increase in the number of consumers who lack the time and necessary skills to carry out manual tasks around the home. Due to this current trend, the industry is expected to continue to grow over the next 5 years.
It’s important that those operating in this niche take steps to fully protect their business and assets from unpredictable events, to ensure their continuing success.
What is Handyman Insurance?
Handyman Insurance is an insurance policy specifically designed for those in the industry to cover tasks carried out in the day to day role of a handyman.
Handyman Insurance can help your business survive the unexpected, with minimum losses.
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Our systems do the hard work, quickly matching the insurance that best suits your business.
We do all the hard work analysing insurance policies and their covers to match them against your business risks and needs.
Our expertise insuring thousands of businesses means we know the questions to ask you.
We find the right insurance for your needs and because we operate online we have lower costs to pass more savings on to you.
You can access and update your information at any time of the day and night, when it suits you most.
What are the Specific Risks Faced by Handyman Businesses?
The role of a handyman is varied and diverse, and typically involves a significant amount of manual work. As a result, handymen are exposed to a significant amount of risk as they carry out their tasks. Although every handyman and their specialities are different, there are several hazards that are common to the industry, including:
- Unsafe Working Areas: Handymen often have to work in unsafe environments, which leave them open to accidents that may cause personal injury.
- Use of Power Tools: Power tools are commonly used by handymen while carrying out their daily work. These tools can cause serious injury to a person or damage to property if they are not in proper working condition or if they are not used correctly.
- Working at Height: The role of a handyman often involves the use of ladders for carrying out tasks in hard to reach places. This leaves handymen exposed to the risk of falling from a height and seriously injuring themselves.
- Moving Heavy Materials: Handymen will typically have to move heavy loads such as tools and materials during the course of their work. This can cause sever injury if not carried out properly.
- Fire & Explosion: Faulty electrical wiring, as well as exposed wires, can be a cause of electrocution, and even fires. Overhead and buried power lines can carry extreme risks for Handymen.
It is possible to reduce the risk you face as a handyman by evaluating the risks you are exposed to and taking steps to minimise them. However it’s important to back up your prevention strategies with a comprehensive insurance policy that can fully protect you, your business, and the general public.
What Are the Key Elements of a Handyman Insurance Policy?
The most appropriate cover for you will depend on your individual circumstances, such as the nature of work you carry out and whether you have any employees. However a typical Handyman Insurance policy may include the following covers:
- Business Pack Insurance: Business Pack Insurance provides a wide range of insurance protection for your business and lets you tailor the cover to suit your company’s specific needs.
- Tool Insurance: Covering the cost of replacing your tools if they are stolen, lost or damaged in an accident.
- Public Liability Insurance: Providing protection against legal and court costs in the event that someone is injured, or has their property damaged while you are providing a service to them.
- Business Car Insurance: Business Car Insurance protects company vehicles against any financial losses related to owning and operating them.
- Personal Accident Insurance: Personal Accident Insurance covers you and your staff or contractors against injury as a result of an accident for the loss of income. It provides financial assistance to help you or any other insured individuals and their families to pay for medical and living expenses while recovering from an injury.
Who Needs Handyman Insurance?
From sole traders to franchisers, handymen across the industry should have appropriate insurance in place. The list of projects that handymen can do is extensive, and varies from easy-to-learn tasks to extensive projects that require multiple steps.
PSC Direct can find the most appropriate insurance cover for you no matter what you specialise in, from carpentry to door installation, fence fixing, landscaping, painting, roofing, tiling and window installation. Speak to one of our brokers for more information.
How PSC Direct Works for You
The team at PSC Direct comprises specialist business insurance brokers, experienced in sourcing insurance for Australian SMEs. We care about the clients we service and want to fully protect their businesses. That’s why we treat each and every one as an inividual entity, considering their unique requirements to source the most appropriate cover that will offer the upmost business protection.
PSC Direct Insurance Brokers use online systems to review your business. We draw on our experience with thousands of similar businesses across Australia to match your needs to our database of indexed insurance policies. In order to ensure you have the most appropriate cover, our insurance brokers will fully review any policy before it is recommended to you.
PSC Direct is an entity of PSC Insurance Group, one of Australia’s largest private insurance broking houses. This affiliation offers us access to a range of leading insurers and underwriters as well as membership of a range of national and international insurance organisations. Part of such a wide insurance network, PSC Direct is best placed to source cost effective covers for our clients.
Protecting your business is important to us. We understand that insurance can be complicated, and we’re here to simplify it for you. We provide advice and cover to a range of businesses across Australia, in industries from Accounting to Engineering, Mining, Retail and Trucking. We know the policies necessary to fully protect your business and assets in the specific sector you operate in.
We are able to offer a range of policies from standard Public and Products Liability to more specialised covers such as Management Liability, Commercial Property, and Cyber Insurance and Tax Audit Insurance. We’re not only here to source your policy but to develop a business partnership with you. We will work with you as your business changes to offer alternative or additional insurance policies, or in the event of a claim, we’ll assist you until settlement.