As a handyman in Louisiana, protecting your business with proper insurance coverage is essential for managing risk and meeting state requirements. This guide analyzes costs and coverage options based on over 850 quotes from leading carriers, providing data-driven insights for handyman businesses of all sizes.
Explore available handyman insurance coverage that can safeguard equipment, tools, and operations.
General Liability Insurance for Louisiana Handymen
Based on our analysis of over 850 quotes from leading carriers, here are the typical costs for Louisiana handymen:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $7,100 | 4.7% | $3,200 | 55% |
| $500K | $17,400 | 3.5% | $9,800 | 44% |
| $1M | $47,000 | 4.7% | $21,400 | 54% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Work valuation under $2,500 per job
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Louisiana Handymen
Louisiana workers’ compensation insurance costs average $17,760 per $100,000 of payroll, among the highest rates nationally. Per-employee costs average $6,592 annually.
Key factors affecting premiums:
- Employee classification codes (primarily 5645)
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Handymen in Louisiana
1. Tools & Equipment Insurance
- Annual premiums: $200-$2,000
- Coverage limits: $5,000-$15,000+
- Per-item limits typically $5,000
2. Commercial Auto Insurance
- $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
- Coverage limits: $100,000-$1M+
- Covers faulty repairs claims
4. Surety Bonds
- Bond amounts: $5,000-$25,000
- Premium: 1-3% of bond amount
- Rates vary by credit score
5. Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Covers workshops, storage facilities
- Protection against natural disasters
Get Louisiana Handyman Liability with ContractorNerd
ContractorNerd’s expertise helps Louisiana handymen secure optimal coverage through:
- Data-driven quote comparison across carriers
- Specialized understanding of Louisiana requirements
- Streamlined application process
- Expert guidance on coverage options
- Ongoing policy management support
- Claims advocacy when needed
Average savings through ContractorNerd:
- Small operations ($150K revenue): 30-50%
- Mid-sized ($500K revenue): 25-40%
- Large operations ($1M+ revenue): 20-35%
Contact us today for customized quotes tailored to your handyman business needs.