How Much Is Business Insurance
for Handyman Businesses?

What does insurance cost for a handyman business? Good question. The cost of business insurance for handymen will depend on the size of your business, how many people you employ (if any), and the type of repairs and maintenance you do. With that said, let's look at some sample insurance cost estimates.

Below, you'll find insurance quotes that represent the typical cost a repairman or handyman pays for coverage.

Please keep in mind that these are just sample estimates to use as a reference. For your specific business's insurance costs, you'll need to apply for a free quote.

HOW MUCH IS
General Liability Insurance?

How Much Is General Liability Insurance?

General Liability Insurance protects handymen from lawsuits over…

  1. Damage to customer homes, appliances, or other property.
  2. Disputes over problems with your finished work (i.e., Completed Products Coverage).
  3. Customer injuries caused by your work.

With all the work you do at customer homes, this insurance offers you vital coverage for property damage, injury, and other lawsuits. If a customer falls down due to a faulty staircase repair, Handyman Liability Insurance can pay the business's legal costs, including settlements and damages.

General Liability Insurance typically costs $361 to $792 for handymen.

Average Premiums, Deductibles and Limits on General Liability Insurance Policies for Handymen
Name USD

Median policy premium:

$361 - $792

Per claim limit:

$1,000,000

Policy limit:

$2,000,000

Median policy deductible:

$1,000

To see how the cost of General Liability Insurance for handyman businesses compares with other industries, visit Insureon's General Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a Business Owner's Policy?

How Much Is a Business Owner's Policy?

A Business Owner's Policy packages General Liability with Property Insurance. By combining these two policies, you can save on your handyman insurance premiums. GL Insurance covers common handyman lawsuits, while Property Insurance reimburses your losses when equipment, tools, and supplies are lost, stolen, or damaged.

BOP Insurance starts at $500 for handyman professionals.

Average Premiums, Deductibles and Limits on BOP Insurance Policies for Handymen
Name USD

Median policy premium:

$500

Per claim limit:

$1,000,000

Policy limit:

$2,000,000

Median policy deductible:

$500

HOW MUCH IS
a Surety Bond?

How Much Is a Surety Bond / License and Permit Bond?

When a handyman applies for a contractor's license, electrician's license, or building permit, they'll usually need a License or Permit Bond. Local or state governments can require these bonds any time you need a license or permit.

A handyman's License or Permit Bond typically costs $100 to $185.

Average Premiums and Limits on Surety Bonds for Handymen
Name USD

Median policy premium:

$100 - $185

Median policy limit:

Varies

HOW MUCH IS
Inland Marine Insurance?

How Much Is Inland Marine Insurance?

Handymen and repairmen can purchase an Inland Marine Insurance policy, which covers their tools and equipment while they transport it. If your tools were stolen from your truck or damaged, this policy could reimburse your losses.

A handyman's Inland Marine coverage typically costs $591 to $1,305.

Average Premiums, Deductibles and Limits on Inland Marine Insurance Policies for Handymen
Name USD

Median policy premium:

$591 - $1,305

Median policy limit:

Varies

Median policy deductible:

Varies

HOW MUCH IS
a Commercial Auto Insurance?

How Much Is Commercial Auto Insurance?

If a handyman gets into an auto accident while driving to or from a job, Commercial Auto Insurance can cover their lawsuit expenses and repair costs. Work driving usually isn't covered by personal insurance policies, so make sure you have adequate Commercial Auto Insurance.

The typical Commercial Auto Insurance costs a handyman $1,344 to $2,245 in annual premiums.

Average Premiums, Deductibles and Limits on Commercial Auto Insurance Policies for Handymen
Name USD

Median policy premium:

$1,344 - $2,245

Median policy limit:

$1,000,000

Median policy deductible:

$500

HOW MUCH IS
Umbrella Insurance?

How Much Is Umbrella Insurance?

Excess Liability Insurance, more commonly known as Umbrella Insurance, boosts your coverage for three common handyman liability insurance policies: General Liability, Employer's Liability (a part of Workers' Compensation), and Hired and Non-Owned Auto Insurance. If you use up the limits of these policies, Umbrella Insurance can pay for up to $1,000,000 in additional legal costs.

Handymen can boost their liability insurance by purchasing Umbrella Insurance for about $1,000 to $2,646.

Average Premiums, Deductibles and Limits on Umbrella Insurance Policies for Handymen
Name USD

Median policy premium:

$1,000 - $2,646

Median policy limit:

$1,000,000

Median policy deductible:

Varies

To see how the cost of Umbrella Insurance for handyman businesses compares with other industries, visit Insureon's Umbrella Insurance Cost Analysis New browser window icon..

HOW MUCH IS
Workers' Compensation Insurance?

How Much Is Workers' Compensation Insurance?

As an employer, a handyman may be legally required to carry Workers' Compensation Insurance for their employees (check your state Workers' Comp laws). Given the demanding, physical nature of repairs, maintenance, and other handyman work, Workman's Comp offers you important protection for accidents and injuries. If an employee gets hurt on the job, this policy can pay for their medical costs and lost wages and protect you from the cost of a lawsuit.

The typical Workers' Comp coverage costs $485 to $5,178 for handymen.

Average Premiums, Deductibles and Limits on Workers' Compensation Insurance Policies for Handymen
Name USD

Median policy premium:

$485 - $5,178

Per claim limit:

$100,000

Median policy limit:

$500,000

Median policy deductible:

None

To see how the cost of Workers' Compensation Insurance for handyman businesses compares with other industries, visit Insureon's Workers' Compensation Insurance Cost Analysis New browser window icon..

HOW MUCH IS
Contractor's Equipment Insurance?

How Much Is Contractor's Equipment Insurance?

Take a minute to think about all the money you've spent on tools and equipment – if you add up your investments in contractor equipment, it could easily come to five figures. To cover this equipment, many handymen sign up for a Contractor's Equipment Insurance policy (i.e. Commercial Property Insurance), which reimburses their business for property lost or damaged due to fire, theft, vandalism, and certain weather events.

Contractor's Equipment Insurance typically costs $404 to $1,200 for handypersons.

Average Premiums, Deductibles and Limits on Contractor's Equipment Insurance Policies for Handymen
Name USD

Median policy premium:

$951 - $1,500

Median policy limit:

Varies

Median policy deductible:

$500

FREE QUOTES
on Handyman Insurance

Free Insurance Quotes for Handymen

For a free handyman insurance quote, submit an online insurance application.

Grab-n-Go Information

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