Handyman Insurance – Professional Liability Insurance
Business owners providing services should consider having professional liability insurance (also known as errors and omissions insurance). However, homeowners policies only go so far in covering home-based businesses and you may need to purchase additional policies to cover other risks, such as general and professional liability. A BOP is a package that bundles property and liability insurance together through one affordable premium.
These exposures could include liability arising out of accidents resulting from the premises or the operations of an insured, products sold by the insured, operations completed by the insured, and contractual liability. The most common types of commercial insurance are property, liability and workers’ compensation. In general, property insurance covers damages to your business property; liability insurance covers damages to third parties; and workers’ compensation insurance covers on-the-job injuries to your employees. If someone sues you for personal injuries or property damage, the cost of defending and resolving the suit would be covered by your liability insurance policy.