How much does insurance cost for handyman services?

Handymen contractors pay a median premium of about $65 per month, or $800 per year, for general liability insurance. This policy provides protection against third-party injuries, third-party property damage, and advertising injuries.

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

Median cost per year: $800
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.

The median cost of workers’ compensation insurance for handypeople is about $315 per month, or $3,790 annually. This policy is required in almost every state for businesses that have employees. It can help cover medical bills 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.

At a median rate of about $150 per month, or $1,825 annually, commercial auto insurance provides coverage for vehicles your handyman business owns.

This policy can help cover property damage and medical costs in an accident, along with theft, vandalism, and weather damage.

Median cost per year: $1,825
Policy limit: $550,000

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

Handyman professionals 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 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.

Construction businesses and contractors pay a median of about $85 per month, or $1,000 per year, for professional liability insurance. This policy protects handyman contractors against lawsuits alleging unsatisfactory, late, or incomplete work. It's also called errors and omissions insurance (E&O).

Median cost per year: $1,000
Policy limit: $1 million per occurrence

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

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.