Business Insurance for Carpenters
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Carpentry Services
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How much does insurance cost for carpenters?

Carpenter insurance costs depend on your policy limits, your business risks, the value of your equipment, and other factors. Cost estimates are sourced from policies purchased by Insureon customers.

General liability insurance icon

General liability insurance costs for carpenters

Carpenters pay a median premium of less than $70 per month, or $835 per year, for general liability insurance. This policy provides protection against third-party injuries, third-party property damage, and advertising injuries.

Carpenters can often save money by bundling general liability insurance with commercial property insurance in a business owner’s policy (BOP).

Median cost per year: $835
Policy limit: $1 million per occurrence
Deductible: $500

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.

Workers’ compensation insurance icon

Workers’ compensation insurance costs for carpenters

The median cost of workers’ compensation insurance for carpenters is less than $290 per month, or $3,470 annually. This policy, which is required in almost every state for businesses with employees, can help cover medical fees and lost wages for work-related injuries and illnesses. 

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.

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Commercial auto insurance icon

Commercial auto insurance costs for carpenters

At a median rate of about $150 per month, or $1,805 per year, commercial auto insurance provides coverage for vehicles your carpentry business owns. This policy can help pay for property damage and medical costs in an accident. It also covers vehicle theft and damage caused by weather and vandalism.

Median cost per year: $1,805
Policy limit: $1 million 

Learn how coverage limits and other factors affect the cost of this policy on Insureon's commercial auto insurance cost analysis page.

Contractor’s tools and equipment coverage icon

Contractor’s tools and equipment insurance costs for carpenters

Carpenters pay a median premium of about $15 per month, or $170 annually, for contractor’s tools and equipment coverage. A form of inland marine insurance, this policy helps cover the repair or replacement of a carpenter’s lost, stolen, or damaged tools and equipment.

Median cost per year: $170
Policy limit: $5,000 

Learn which coverage limits to choose and more on Insureon's contractor's tools and equipment insurance cost analysis page.

Professional liability insurance icon

Professional liability insurance costs for carpenters

Carpenters pay a median premium of about $90 per month, or $1,065 per year, for professional liability insurance. This policy, also known as errors and omissions insurance (E&O), protects carpenters from client lawsuits claiming unsatisfactory, negligent, late, or incomplete work.

Median cost per year: $1,065
Policy limit: $1 million per occurrence
Deductible: $750

A carpenter may be able to combine professional liability insurance with a general liability insurance policy for increased savings.

Learn how to reduce your premium, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.

Surety bond icon

Surety bond costs for construction businesses and contractors

Construction businesses and contractors pay a median premium of about $8 per month, or $100 per year, for surety bonds. A surety bond reimburses your client if you're unable to fulfill the terms of a contract or other agreement.

Median cost per year: $100
Bond amount: $10,000

Learn how to reduce your premium, which bond amount to choose, and more on Insureon's surety bond cost analysis page.

How do I get carpenter insurance?

It’s easy to get insurance as a carpenter if you have your business information on hand. An insurance application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:

  1. Complete a free online application
  2. Compare quotes and choose policies
  3. Pay for your policy and download a certificate

Insureon's licensed agents work with top-rated U.S. providers to find coverage that fits your carpentry business, whether you work independently or hire employees.

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