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Handyman Four Unexpected Reasons Why Your Premium Could Climb

Thursday, Jun. 21st 2012 8:33 AM

Handyman — A motorist has shopped around, explored all options, and purchased the right auto insurance policy at a reasonable price. But over the years, premiums begin to climb for no apparent reason. Here are a few developments aside from getting tickets or accidents that might unexpectedly boost premiums:

Your Kid Reaches Driving Age: Insurance companies are always on the lookout for potential reasons why policyholders would file a claim. And for a coverage provider, there’s no greater threat than a teenager learning to drive. Accident statistics for younger motorists are notoriously bad. Despite advancements in technology and safer vehicles, automobile accidents remain the leading cause of death for teens 19 and under. As a result, the moment an insured driver’s child hits legal driving age, their rates may go up.

Your Credit Heads South: Credit score represents a person’s ability to honor a debt, but to some insurers, it also represents accident potential. Some companies say claims data show there is a correlation between the number of insurance claims that drivers file and their financial background. This has lead to a process called credit scoring, which is considered controversial by many drivers. Although fairly common, states like Ohio have placed limitations on how financial information can be used when underwriting drivers.

You Buy a Nicer Car: A motorist works hard and saves his dollars to buy his dream car, only to find out insurance rates have skyrocketed. The truth is the automobile that a person insures plays a major role in how much someone pays for protection. An expensive sports car, designed to look great and go fast, is likely more expensive to repair or replace than a humble sedan, and most likely a lot less safe. For insurers, this means a bigger loss if the insured driver is involved in an accident. To compensate for the additional risk, premiums are increased.

Your Insurer Takes a Hit: When someone’s coverage provider suffers heavy financial loss, the expense is usually passed on to policyholders in the form of higher prices. A high number of claims, lawsuits, or just bad investments can all mean lower revenue. Also, a company that is deep in debt is unlikely to offer cheap insurance rates to new customers. Before buying a policy, people are encouraged to investigate an insurer’s credit and investment history, and avoid purchasing a plan from a company on the verge of bankruptcy. Taking the time to do a little research could end up paying off in the long run.

 

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best handyman insurance quotes offering low cost monthly rates Find the Best Insurance

Handyman insurance quotes is available on a state by state basis in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Dist of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming. Find the best Handyman insurance quotes from some of the finest and solid insurance companies who compare liability coverages based upon your own personal choices.
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Business insurance quotes vary according to the state your business is in so you need to keep this mind when shopping for insurance.
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Your contractors license classification provides the insurance company the amount of risk and claims exposure you may incur as a result of your business.
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How many years of experience in the licensed classification influences your final business insurance quote.

Handyman Insurance

Insurance might not be the first thing someone thinks about when running a business, but it should be an important consideration.   Handyman insurance is another requirement if you are thinking about starting a handyman business.  This website provides important insurance information on Handyman Insurance Coverage and quotes.

Handyman Insurance Coverage

Handyman insurance includes several types of coverage; each one offers a specific kind of protection for your business.  

(Handyman Insurance ) Commercial Auto: Covers a business's owned, no owned, and hired autos against liability and physical damage losses. 

Handyman Workers Compensation:  If your business as a Handyman employs any staff (including part-time, trainees or sub-contractors), Employers liability insurance cover is a legal requirement.  Employers liability insurance provides protection against your legal liabilities to pay compensation in respect of injury sustained by your employees in the course of your business as a Handyman.  (Handyman Insurance) Workers Compensation: Provides coverage for an employer's responsibility in the event of a work-related injury or illness.   Employers Liability Insurance for handyman work: This type of insurance would cover payment of legal fees and damages in the event that an employee was injured or killed while doing work for you. 

Tradesman Insurance for handymen: This is a package of several different kinds of cover for handymen, making up one policy that meets all your insurance needs.

Public Liability Insurance for handyman work: This type of insurance would cover you if your business activities caused injury or death to a member of the public.

Handyman General Liability - Commercial jobs will require you to have general liability coverage of $1,000,000 to $2,000,000 prior to being hired (not to mention that you protect your assets if something goes wrong on the job).

Products liability insurance for Handymen - Products liability insurance provides protection against your legal liability, compensation costs and expenses following injury or damage by goods that you have sold, supplied, repaired, tested or delivered in connection with your business as a Handyman.  Products Liability insurance for Handymen at 1,000,000 with the option to increase to 2,000,000 up to 5,000,000 or more.  Public Liability insurance cover provides protection against your legal liability for injury to third parties and damage to their property in connection with your business as a Handyman.

Professional Indemnity Insurance for handyman work: This covers you against any mistakes you might make  including bad advice you or your staff might give  that ends up costing your clients money, and leading them to take legal action against you.

(Handyman Insurance ) Umbrella Coverage: A broader form of coverage that extends the limits of liability found in a base policy form. 

Income Protection Insurance - If the essential person should be unable to work for a period of time, this handyman insurance helps to cover the loss of business as a result of the illness or injury.  Having sufficient income protection insurance is also a worth while consideration, if you were to fall off a step ladder or hurt your back and couldnt work, accident, sickness and unemployment insurance could help you to pay for some of your monthly bills in the event of you not being able to work.

The Handyman Insurance Program gives our policyholder comprehensive coverage for their handyman businesses, and the program is designed for Handymen who: Are hired to do a variety of miscellaneous work that would be found in a residential household environment;

Please note that standard home owner's insurance will most likely not cover business assets, and may VOID your home insurance coverage.  If your business is home-based, do you need more liability coverage than your home insurance policy covers. 

The Handyman program gives our policyholder comprehensive coverage for their handyman businesses, and the program is designed for Handymen.

Handyman Insurance Quotes

Find information on insurance companies and agents, rate quotes and comparisons, insurance buying tips, claims filing information and much more. Find the best Handyman insurance quotes liability commercial and small Handyman companies offering affordable monthly payment options for your handyman business and the self-employed.  Find the best Handyman insurance quotes from some of the finest and solid insurance companies who compare liability coverages based upon your own personal choices.  Get online quotes for handyman insurance now.  And it can help you save money on your handyman insurance without compromising on the level of cover you need.  The Handyman tradesman insurance policy has been crafted to cover all your Handyman insurance needs at the most competitive price.

 

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