Four Jobs Where Insurance Is a Must

Creating and administrating a successful small business can be a gigantic task: wouldn’t you want to protect your hard work? One lawsuit is all it could take to wipe out a fledgling business, frivolous or otherwise. Legal fees and lost time in lengthy trials can cost you dearly by slowing growth, losing assets, and/or causing complete ruin.

Thankfully, some relief is available to those involved in potentially risky occupations in the form of liability insurance and other forms of insurance for more specialized roles.

What are the industries where insurance shouldn’t be negotiable? Let’s take a look at four specific ones to give you an idea.

Handyman Work

Becoming a handyman is an attractive career path for experienced construction workers or tradesmen to take once they’ve gotten enough experience under their belt (and tools in their garage). Jobs vary widely for the average handyman: if you’re unfamiliar with this trade check out

The low cost of entry and low overhead is another major draw. In an effort to get into the business as cheaply as possible, you may have the thought to forgo general liability insurance if your locale doesn’t require it; avoid this train of thought. Your insurance policy will be your only means of protection. Low overhead means no legal team; if a lawsuit arises from accidental damage or bodily harm on your property (both relatively common occurrences in this line of work), you’re on your own if you don’t have insurance.

Physicians and Health Care Professionals

It is well known that the amount of litigation filed in the court system that involves healthcare is obscenely inflated. You absolutely cannot risk your practice: insurance is needed without question.

In addition to the general liability plan, you will want to protect against accidents that may happen while on your premise. You must also obtain malpractice insurance at the bare minimum. Malpractice insurance will protect your business from expensive lawsuits that arise from medical negligence. More than 15,000 malpractice suits are filed each year: make sure you’re protected if you end up as one of the unlucky ones.

Lawyers and Legal Aids

Law firms deal with sensitive information in large quantities and protecting it is key to both you and your clients’ well-being. General liability and property insurance are basic needs for almost any business, but a lawyer may also find use in having a malpractice and/or data breach plan added. Legal work is highly confidential – which makes it inherently risky – so don’t leave yourself open to disaster by not having the proper insurance plans in place.

Home Business Owners

Even though there are many other fields that carry much greater risk, few have the potential for damage like that of a cottage business. A business owner operating in their home without insurance could potentially lose the business and even their personal possessions in legal battles. Few entrepreneurs who operate out of their spare room realize that – in the event that someone hurts themselves while on your property, even some as simple as a package delivery – you will not be covered if you are sued for damages.

A general liability and property insurance plan should be the absolute minimum any business owner possesses before opening their doors or taking clients. Affordable plans are available with some research. Don’t risk your livelihood to save a little cash: protect yourself with solid coverage.

Author: Oliver Curtis

Hi there. I’m Oliver. I’m just a young boy from the outskirts of… Okay, that’s a lie, I’m not a young boy anymore, although I certainly feel that way at heart.

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