As a handyman in Delaware, protecting your business with proper insurance coverage is essential for managing risk, meeting state requirements, and securing client contracts. This guide breaks down insurance costs and requirements based on our analysis of actual quotes from leading carriers serving Delaware handymen.
Find out how liability insurance for handyman solutions can address a wide range of project risks.
General Liability Insurance for Delaware Handymen
Based on analysis of quotes from leading carriers, here are typical costs for Delaware handymen:
| Revenue | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $4,800 | 3.2% | $2,000 | 58% |
| $500K | $11,500 | 2.3% | $6,500 | 43% |
| $1M | $24,400 | 2.4% | $12,000 | 51% |
These rates assume:
- Clean claims history (5+ years)
- Standard $1M/$2M limits
- 10% subcontractor costs
- Staff size based on revenue:
- $150K: 1 owner
- $500K: 1 owner, 3 employees
- $1M: 1 owner, 5 employees
Worker’s Compensation Insurance for Delaware Handymen
Delaware requires workers’ compensation for businesses with employees. Key details:
- Average cost per employee: $4,093 annually
- Cost per $100K payroll: $9,060
- Primary classification code: 5645
- Typical rate range: $5.72-$16.73 per $100 of payroll
Factors affecting premiums:
- Experience modifier
- Claims history
- Safety programs
- Annual payroll
Additional Business Insurance for Handymen in Delaware
1. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limit typically $5,000
2. Commercial Auto
- $1,500-$3,050 per vehicle annually
- Standard limits: 100K/300K/100K
- Higher limits recommended: $500K-$1M
3. Contractor’s E&O
- Annual cost: $300-$1,000
- Limits: $100,000-$1M+
- Covers faulty workmanship claims
4. Commercial Property
- Cost: $1,000-$5,000 annually
- Protects facilities and contents
- Based on property value/location
5. Surety Bonds
- Bond amounts: $5,000-$25,000
- Premium: 1-3% of bond amount
- Rates vary by credit score
Get Delaware Handyman Liability with ContractorNerd
ContractorNerd specializes in efficient, data-driven insurance solutions:
- Expert guidance on Delaware requirements
- Quotes from top-rated carriers
- Streamlined application process
- Coverage optimization
- Competitive rates through carrier network
- Ongoing policy management
- Claims advocacy
Contact us for tailored Delaware handyman insurance quotes and coverage recommendations.