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Handyman Insurance, Similarly Situated Entities

Friday, Jan. 27th 2017 6:47 AM

One of the most talked about elements of the new rule is the fact that subcontracts made to “similarly situated entities” are not counted towards the applicable subcontracting limit. The NDAA defined a similarly situated entity as “a small business subcontractor that is a participant of the same small business program that the prime contractor is a certified participant and which qualifies the prime contractor to receive the award.”  In other words, a HUBZone could subcontract to another HUBZone, or an 8(a) could subcontract to another 8(a), without counting those subcontracts towards the applicable limit.

In its 2014 proposed rule, the SBA proposed that a subcontractor had to be “small” for purposes of the NAICS code assigned to the prime contract in order to fall within the definition of “similarly situated entity.”  In the final rule, however, the SBA has departed from that idea; under the new regulation, a subcontractor may qualify as a “similarly situated entity” so long as it is “small” under the NAICS code assigned to the subcontract, regardless of whether the subcontractor is “small” for purposes of the prime contract’s NAICS code. Because prime contractors – and not the government – are responsible for assigning NAICS codes to their own subcontracts, this provides a lot more flexibility. (Of course, primes will have to remember to assign NAICS codes to their subcontract, something they often forget to do currently.)

The NAICS code shift is not the only change regarding “similarly situated entities” that occurred between the proposed rule and final rule. Under the proposed rule, the SBA required the prime contractor and any “similarly situated” subcontractors to execute written “teaming” agreements containing certain mandatory provisions. However, because the written agreement requirement was heavily criticized during the comment period, it was removed from the final rule. The new rule does not require written agreements between primes and their “similarly situated” subcontractors.

During the comment period, questions were raised about how these concepts would be applied to lower tier subcontractors. More specifically, people were concerned that if compliance was determined by looking at first tier subcontractors only, a first tier “similarly situated” subcontractor could in turn pass all of its performance on to a large or otherwise not similarly situated entity through a second subcontract, thus circumventing the regulation entirely. To address these concerns, the SBA explained in the final rule that:

SBA will apply the limitations on subcontracting collectively to the prime and any similarly situated first tier subcontractor. . . any work performed by a similarly situated first tier subcontractor will count toward compliance with the applicable limitation on subcontracting. Any work that a similarly situated first tier subcontractor subcontracts, to any entity, will count as subcontracted to a non-similarly situated entity for purposes of determining whether the prime/sub team performed the required amount of work. In other words, work that is not performed by the employees of the prime contractor or employees of first tier similarly situated subcontractors will count as subcontracts performed by non-similarly situated concerns.

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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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