As a carpenter in Georgia, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down essential insurance coverages Georgia carpenters need, including costs based on our analysis of actual quotes from leading carriers.
Explore our in-depth carpentry insurance guide to understand all the basics and beyond.
General Liability Insurance for Georgia Carpenters
Based on analysis of carpenter quotes from leading carriers, here are typical costs for Georgia carpenters:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,510 | 1.7% | $1,780 | 29% |
| $500K | $7,240 | 1.4% | $4,920 | 32% |
| $1M | $14,420 | 1.44% | $10,760 | 25% |
These premiums assume:
- Clean claims history (5+ years)
- Standard $1M/$2M limits
- Class codes 91340/91341/91342
- 10% subcontractor costs
Worker’s Compensation Insurance for Georgia Carpenters
Georgia carpenters face some of the highest workers’ compensation rates nationally:
- Average cost per $100K payroll: $26,200
- Cost per employee: $59,385 annually
Common carpenter classification codes:
- Code 5645 (Residential): $10-14 per $100 of payroll
- Code 5437 (Interior Finish): $8-12 per $100 of payroll
- Code 5403 (General Carpentry): $12-16 per $100 of payroll
Additional Business Insurance for Carpenters in Georgia
- Tools & Equipment Insurance
- Annual premiums: $200-$2,000
- Coverage limits: $5,000-$15,000+
- Per-item limit typically $5,000
- Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K/$300K/$100K
- Higher limits ($500K-$1M) recommended
- Contractor’s E&O Insurance
- Annual premiums: $50-$500
- Coverage limits: $10,000-$1M+
- Covers faulty workmanship claims
- Surety Bonds
- Premium: 1-3% of bond amount
- $5,000-$25,000 typical amounts
- Rates vary by credit score
- Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Protects workshops, equipment, materials
- Coverage based on property value
Get Georgia Carpenter Liability with ContractorNerd
ContractorNerd makes carpenter insurance data-driven and efficient through:
- Analysis of 800+ carpenter quotes across Georgia
- Multiple carrier comparisons for best rates
- Specialized carpenter insurance expertise
- Streamlined application process
- Ongoing policy management
- Claims advocacy support
Our platform helps Georgia carpenters:
- Find optimal coverage levels
- Secure competitive rates
- Bundle policies for savings
- Meet state requirements
- Obtain quick certificates of insurance
Contact us today for tailored quotes based on your specific carpentry business needs.