There are a lot of handymen out there who are essentially operating a business as sole proprietor. Perhaps you install drywall for a living, paint houses, perform tree removal services, or just do general fix-it type of work. If this sounds like your situation, here are a few reasons why you should get business insurance right away.
In this day and age, people are more sue-happy than ever. Having business insurance will protect you in case something happens on one of your jobs and someone gets hurt. If someone sues you for any reason, you may pay tens of thousands of dollars at the minimum to hire a lawyer. However, having professional liability coverage may cover these costs.
Another reason to have business insurance is to protect your equipment. Whatever type of business you’re running, you likely have lots of valuable tools that you need to do your work. If these were stolen, you would be out of a job and may not have money to cover replacement costs. Business owners’ insurance may cover the cost of replacing these tools.
Having New Jersey business insurance if you’re running any kind of business operations is so helpful in many ways. If you are a handyman or a craftsman, putting an insurance policy in place to make you less susceptible to lawsuits and to protect your equipment should be done right away.