As a carpenter in Idaho, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down the essential insurance coverages Idaho carpenters need, including costs based on our analysis of actual quotes from leading carriers.
Gain insight into comprehensive carpenters insurance and discover policies tailored for various needs.
General Liability Insurance for Idaho Carpenters
Based on analysis of over 800 carpenter quotes from leading carriers, here are typical costs for Idaho carpenters:
Revenue | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
---|---|---|---|---|
$150K | $2,900 | 1.9% | $1,600 | 45% |
$500K | $8,000 | 1.6% | $5,200 | 35% |
$1M | $16,800 | 1.7% | $9,600 | 43% |
These premiums assume:
- Clean claims history (5+ years)
- Standard $1M/$2M limits
- Mix of residential/commercial work
- ~10% subcontractor costs
Worker’s Compensation Insurance for Idaho Carpenters
Worker’s compensation insurance in Idaho costs approximately $21,359 per carpenter employee annually. Rates per $100K of payroll average $9,760.
Common carpenter classification codes:
- 5645: Residential carpentry – $8-12 per $100
- 5437: Interior finish work – $6-9 per $100
- 5403: General carpentry – $10-14 per $100
Key premium factors:
- Employee classifications
- Payroll size
- Claims history
- Safety programs
- Experience modifier
Additional Business Insurance for Carpenters in Idaho
1. Tools & Equipment Coverage (Inland Marine)
- Annual cost: $200-2,000
- Covers tools during transit/at sites
- Policy limits: $5,000-15,000+
2. Commercial Auto Insurance
- Cost: $1,500-3,050 per vehicle
- Standard limits: $100K/$300K/$100K
- Higher limits recommended ($500K-1M)
3. Contractor’s E&O Insurance
- Annual cost: $50-500
- Covers faulty workmanship claims
- Limits: $10,000-1M+
4. Commercial Property Insurance
- Cost: $1,000-5,000 annually
- Protects buildings/contents
- Based on property value/location
5. Surety Bonds
- Rates vary by credit score
- Cost: 1-3% of bond amount
- Typical bonds: $5,000-25,000
Get Idaho Carpenter Liability with ContractorNerd
ContractorNerd makes carpenter insurance simple and data-driven:
- Instant online quotes from top carriers
- Side-by-side coverage comparison
- Carpenter-specific expertise
- Streamlined application process
- Ongoing policy management
- Claims advocacy support
Our specialists help:
- Find optimal coverage levels
- Secure competitive rates
- Bundle policies for savings
- Ensure compliance with state rules
Contact us today for tailored quotes for your Idaho carpentry business.