As a handyman in Indiana, having proper insurance coverage is essential for protecting your business, meeting client requirements, and managing risk. This guide breaks down key insurance coverages Indiana handymen need, including costs based on our analysis of actual quotes from leading carriers.
Review best handyman insurance details to understand standard features and benefits.
General Liability Insurance for Indiana Handymen
Based on our analysis of over 850 quotes from leading carriers, here are the typical liability insurance costs for Indiana handymen:
Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
---|---|---|---|---|
$150K | $2,600 | 1.7% | $1,600 | 38% |
$500K | $7,700 | 1.5% | $3,800 | 51% |
$1M | $15,200 | 1.5% | $8,800 | 42% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Basic residential and commercial repair work under $2,500
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Indiana Handymen
Worker’s compensation insurance in Indiana averages $2,335 per employee annually, or $5,560 per $100,000 of payroll – among the lowest rates nationwide.
Key factors affecting premiums:
- Job classification codes (primarily 5645 for handymen)
- Total payroll
- Claims history
- Safety programs
- Experience modifier rating
Additional Business Insurance for Handymen in Indiana
1. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Covers theft, damage, and loss
2. Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K/$300K/$100K
- Higher limits recommended ($500K-$1M)
3. Contractor’s E&O Insurance
- Annual premiums: $300-$1,000
- Policy limits: $100,000-$1M+
- Covers faulty work claims
4. Business Owner’s Policy (BOP)
- Combines general liability and property coverage
- Lower premiums than separate policies
- Coverage based on business size and assets
5. Commercial Property Insurance
- Protects workshops, storage, offices
- Annual premiums: $1,000-$5,000
- Based on property value and location
Get Indiana Handyman Liability with ContractorNerd
ContractorNerd specializes in handyman insurance solutions that are:
- Data-driven using actual quote analysis
- Tailored to Indiana requirements
- Streamlined for quick, accurate quotes
- Supported by specialized agents
- Optimized for competitive rates
Our platform offers:
- Coverage comparisons across carriers
- Online quote generation
- Policy management tools
- Claims advocacy
- Compliance guidance
Contact us today for customized quotes and expert guidance on protecting your handyman business.