As a handyman in Florida, 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 Florida handymen need, including costs based on our analysis of actual quotes from leading carriers.
Learn more about self-employed handyman insurance to ensure comprehensive personal protection.
General Liability Insurance for Florida Handymen
Based on analysis of over 850 quotes from leading carriers, here are typical costs for Florida handymen:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $3,430 | 2.3% | $2,590 | 25% |
| $500K | $8,720 | 1.7% | $5,250 | 40% |
| $1M | $18,190 | 1.8% | $11,240 | 38% |
Premiums assume:
- Clean claims history (5+ years)
- $1M/$2M coverage limits
- Class code 91344 for basic repairs under $2,500
- 10% subcontractor costs
Worker’s Compensation Insurance for Florida Handymen
Florida requires workers’ compensation for handyman businesses with 4+ employees. Cost per employee averages $4,673 annually.
Key rate factors:
- Base rate: $12.61 per $100 of payroll
- Experience modifier rating
- Safety programs
- Claims history
Additional Business Insurance for Handymen in Florida
1. Tools & Equipment Coverage
- Cost: $200-$2,000 annually
- Limits: $5,000-$15,000+
- Per-item limit typically $5,000
2. Commercial Auto
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K/$300K/$100K
- Required for business vehicles
3. Contractor’s E&O
- Cost: $300-$1,000 annually
- Covers faulty workmanship claims
- Limits: $100K-$1M+
4. Surety Bonds
Cost based on bond amount and credit:
| Bond Amount | Excellent Credit | Good Credit | Bad Credit |
|---|---|---|---|
| $5,000 | $100-$150 | $150-$200 | $200-$400 |
| $10,000 | $100-$300 | $300-$500 | $500-$1,000 |
| $15,000 | $150-$400 | $400-$750 | $750-$1,500 |
Get Florida Handyman Liability with ContractorNerd
ContractorNerd specializes in handyman insurance solutions:
- Data-driven quotes from leading carriers
- Expertise in Florida regulations
- Streamlined application process
- Ongoing policy management
- Claims advocacy
- Potential premium savings of 25-40%
Our handyman insurance specialists help:
- Optimize coverage for your specific risks
- Find competitive rates
- Bundle policies for savings
- Ensure compliance with state requirements
Contact us for tailored quotes for your Florida handyman business.