As a handyman in Hawaii, having proper insurance coverage is essential for protecting your business and meeting client requirements. This guide breaks down insurance costs and coverage options based on our analysis of actual quotes from leading carriers for Hawaii handymen.
Identify reputable business insurance handyman providers by reviewing our recommended options.
General Liability Insurance for Hawaii Handymen
Based on analyzed quotes from leading carriers, here are typical costs for Hawaii handymen:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,600 | 1.7% | $1,700 | 35% |
| $500K | $7,300 | 1.5% | $4,100 | 44% |
| $1M | $15,400 | 1.5% | $9,700 | 37% |
Premium assumptions:
- Clean claims history (5+ years)
- Standard $1M/$2M limits
- Typical residential/commercial mix
- 10% subcontractor costs
Common claims covered:
- Property damage during work
- Bodily injury to clients or bystanders
- Defective product installation (with add-on)
- Completed work issues (with add-on)
Worker’s Compensation Insurance for Hawaii Handymen
Workers’ compensation costs in Hawaii average $5,843 per employee annually. For handyman businesses, the rate per $100,000 of payroll is $10,600.
Key factors affecting premiums:
- Employee classification codes
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating
Most handymen fall under code 5645, with rates typically ranging from $5.72 to $16.73 per $100 of payroll.
Additional Business Insurance for Handymen in Hawaii
1. Commercial Auto Insurance
- Annual cost: $1,500-$3,050 per vehicle
- Standard limits: $100K per person/$300K per accident
- Higher limits ($500K-$1M) recommended
- Covers business vehicle accidents and liability
2. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
- Protects tools during transport and at job sites
3. Contractor’s E&O Insurance
- Annual cost: $300-$1,000
- Coverage: $100,000-$1M+
- Protects against faulty work claims
- Includes defense costs and settlements
4. Surety Bonds
Bond premium ranges (1-3% of bond amount):
| 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 |
5. Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Covers workshops, storage facilities, offices
- Protection against fire, theft, vandalism
- Building and contents coverage available
Get Hawaii Handyman Liability with ContractorNerd
ContractorNerd provides specialized insurance expertise for Hawaii handymen:
- Instant online quotes from top carriers
- Side-by-side coverage comparisons
- Expert guidance on Hawaii requirements
- Streamlined application process
- Claims advocacy support
Our analysis shows potential savings:
- Small operations ($150K): 30-50%
- Mid-size ($500K): 25-40%
- Large ($1M+): 20-35%
Our team understands Hawaii’s unique requirements and helps you:
- Optimize coverage for your specific risks
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with state regulations
Contact our handyman insurance specialists for tailored quotes and coverage optimization.