Why Handyman Services in Louisiana Need General Liability Insurance
Part of our guide to handyman services insurance in Louisiana.
Handyman services in Louisiana face significant risks, including hurricane and tropical storm damage, flooding, and active litigation environments. General Liability Insurance is the foundation of your business's protection, covering third-party bodily injury, property damage, and advertising injury claims. You need this coverage to operate safely and securely in Louisiana. General Liability is not just a good idea, but a necessity for handymen working with property managers, real estate investors, and commercial building owners. These clients frequently require active general liability insurance before authorizing any repair work on their properties, regardless of the job's size.
General Liability cost for handyman services in Louisiana
Illustrative monthly general liability estimate for a small handyman operation in Louisiana. Actual pricing depends on revenue, payroll, coverage limits, claims history, and carrier. Get a personalized quote to see your real price.
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What General Liability Covers for Handyman Services in Louisiana
General Liability Insurance for handyman services in Louisiana covers third-party bodily injury, property damage, and advertising injury claims. This means that if a client or visitor is injured on your job site, or if you accidentally damage a client's property, your General Liability Insurance will pay for the damages. For example, if you are working on a roof in Baton Rouge and accidentally drop a tool, which hits a passer-by, your General Liability Insurance will cover the medical expenses and any other related costs. Additionally, if you are working on a plumbing job in Shreveport and accidentally flood a client's home, your General Liability Insurance will cover the cost of repairs and any other related expenses. However, General Liability does not cover damages to your own tools and equipment, which would be covered under a separate Tools & Equipment policy.
Do Handyman Services in Louisiana Need General Liability?
Handyman services in Louisiana are not legally required to carry General Liability Insurance, but it is often contractually required by clients and property owners. Property managers, real estate investors, and commercial building owners frequently require handymen to carry active general liability insurance before authorizing any repair work on their properties, regardless of the job's size. This is because General Liability Insurance provides protection for both the handyman and the client in case of accidents or damages. Without General Liability Insurance, you may be personally liable for any damages or injuries that occur on the job, which could put your business and personal assets at risk. Furthermore, having General Liability Insurance can give you a competitive edge when bidding on jobs, as it demonstrates your commitment to safety and responsibility. In cities like Lafayette, where the construction industry is thriving, having General Liability Insurance is crucial to succeed in the market.
A Real General Liability Claim a Handyman Could Face
In New Orleans, a handyman named John was working on a renovation project when he accidentally knocked over a ladder, which hit a client's expensive vase. The client sued John for $10,000 in damages, claiming that the vase was a priceless family heirloom. John's General Liability Insurance covered the cost of the damages, as well as the legal fees associated with the lawsuit. The insurance company paid out $15,000 in total, which included the cost of the vase and the legal fees. John was able to avoid paying out of pocket for the damages and was able to continue working on the project without interruption. The cost of the claim was significant, but John's General Liability Insurance helped him to avoid financial ruin.
What General Liability Costs for Handyman Services in Louisiana
The cost of General Liability Insurance for handyman services in Louisiana can range from $40-$120/month, depending on factors like revenue, payroll, and coverage limits. The cost of the premium will also depend on the level of risk associated with your business, such as the type of work you do and the locations where you work. For example, if you work in areas prone to hurricanes and flooding, such as coastal Louisiana, your premium may be higher due to the increased risk of damage. Additionally, if you have a high payroll or revenue, your premium may be higher due to the increased risk of accidents or damages. However, you can lower your premium by taking steps to reduce your risk, such as implementing safety protocols and training your employees. You can also shop around for quotes from different insurance companies to find the best rate for your business. In Louisiana, the cost of General Liability Insurance is relatively high due to the state's high risk environment, but it is still a necessary investment for handyman services.
How to Get General Liability in Louisiana
To get General Liability Insurance in Louisiana, you will need to gather some information about your business, such as your revenue, payroll, and coverage limits. You will also need to determine what level of coverage you need, based on the type of work you do and the level of risk associated with your business. You can work with an insurance agent or broker to find the best policy for your business and to get quotes from different insurance companies. It's also important to read reviews and check the financial stability of the insurance company before making a decision. In cities like Baton Rouge, where the construction industry is thriving, it's easy to find insurance agents and brokers who specialize in General Liability Insurance for handyman services. Once you have gathered all the necessary information, you can compare quotes and choose the policy that best fits your needs and budget. To get started, have your revenue, payroll, and any contract limit requirements ready, and compare General Liability quotes from different insurance companies.
Frequently asked questions
Will my General Liability premium jump after one claim?＋
Yes, it may increase. The amount of the increase will depend on the severity of the claim and the insurance company's policies. If you have a high deductible or a history of claims, your premium may increase more significantly. However, some insurance companies offer claims-free discounts or other incentives to help reduce the cost of your premium.
Can I get a COI same-day for a client?＋
Yes, it's possible. Many insurance companies offer same-day COI issuance for an additional fee. This can be especially helpful if you need to provide proof of insurance to a client quickly. Some insurance companies may require additional documentation or information before issuing a COI. Be sure to plan ahead and allow enough time for the COI to be issued and delivered to your client.
Does a sole proprietor need General Liability?＋
Yes, it's recommended. As a sole proprietor, you are personally liable for any accidents or damages that occur on the job. General Liability Insurance can provide protection for both you and your business in case of unexpected events. Even if you don't have employees, you can still be held liable for damages or injuries that occur on the job site. Having General Liability Insurance can give you peace of mind and help you avoid financial ruin in case of an unexpected event.
What's not covered under General Liability?＋
Damages to your own tools and equipment are not covered under General Liability. You will need a separate Tools & Equipment policy to cover these items. Additionally, General Liability does not cover damages or injuries to your employees, which would be covered under a Workers' Compensation policy. You may also need to consider other types of insurance, such as Commercial Auto or Umbrella Insurance, to ensure you have adequate coverage for your business.
Can I cancel my General Liability policy at any time?＋
Yes, you can cancel your policy, but you may be subject to a penalty or fee. If you cancel your policy, you may be leaving yourself and your business unprotected in case of unexpected events. It's crucial to consider the potential risks and consequences before making a decision. You may also need to provide proof of new insurance coverage to your clients or property owners, so be sure to plan ahead and allow enough time for the new policy to be issued and delivered.
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Other coverages handyman services in Louisiana should know
This article is for general educational purposes and is not insurance or legal advice. Coverage requirements and pricing in Louisiana change over time and vary by business. Verify current rules with the Louisiana Department of Insurance and a licensed agent before purchasing a policy.