Handyman insurance costs depend on your policy limits, your business risks, your equipment value, and other factors. Cost estimates are sourced from policies purchased by Insureon customers.
General liability costs for handyman services
Handyman businesses 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.
Handyman contractors can often save money by bundling general liability insurance with commercial property insurance in a business owner’s policy.
Median cost per year: $800
Policy limit: $1 million per occurrence
Policy deductible: $500
Workers’ compensation insurance costs for handyman services
The median cost of handyman workers’ compensation insurance 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.
Commercial auto insurance costs for handyman services
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
Generic policy limit: $550,000
Contractor’s tools and equipment insurance costs for handyman services
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
Generic policy limit: $5,000
Learn more about contractor's tools and equipment insurance.
Save money by comparing insurance quotes from multiple carriers
At Insureon, our construction and contracting insurance agents work with top-rated U.S. carriers to find coverage that fits your handyman business, whether you operate independently or hire employees. Apply today to compare quotes from multiple carriers with one free online application. If you decide to purchase a policy, you’ll work with an account manager who specializes in the unique risks of handyman services.