As a handyman in Maryland, 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 Maryland handymen need, including costs based on our analysis of actual quotes from leading carriers.

Discover how liability insurance handyman options can address specific on-site risks.

General Liability Insurance for Maryland Handymen

Based on our analysis of actual quotes, here are typical costs for Maryland handyman liability insurance:

Revenue SizeAverage Premium% of RevenueFavorable RatePotential Savings
$150K$2,1001.4%$1,10048%
$500K$5,6001.1%$3,00046%
$1M$11,7001.2%$6,60044%

These premiums assume:

  • Clean claims history (5+ years without incidents)
  • Standard $1M/$2M coverage limits
  • Mix of residential and light commercial work
  • Approximately 10% subcontractor costs

Worker’s Compensation Insurance for Maryland Handymen

Maryland requires workers’ compensation for handyman businesses with employees. Key data points:

  • Average cost per employee: $3,776 annually
  • Cost per $100K payroll: $7,230
  • Classification code 5645 typically applies

Factors affecting premiums:

  • Job classification codes
  • Annual payroll
  • Claims history
  • Safety programs
  • Experience modifier rating (EMR)

Additional Business Insurance for Handymen in Maryland

  1. Commercial Auto Insurance
  • Cost: $1,500-$3,050 per vehicle annually
  • Standard limits: $100K/$300K/$100K
  • Required for business vehicles
  1. Tools & Equipment Coverage
  • Annual premiums: $200-$2,000
  • Policy limits: $5,000-$15,000+
  • Per-item limits typically $5,000
  1. Contractor’s E&O Insurance
  • Premiums: $300-$1,000 annually
  • Coverage limits: $100K-$1M+
  • Protects against faulty work claims
  1. Commercial Property Insurance
  • Cost: $1,000-$5,000 annually
  • Covers business property and contents
  • Rates vary by location and value
  1. Business Owner’s Policy
  • Combines GL and property coverage
  • Lower cost than separate policies
  • Added business interruption coverage

Get Maryland Handyman Liability with ContractorNerd

ContractorNerd makes handyman insurance simple and data-driven through:

  • Specialized agents familiar with Maryland requirements
  • Multiple carrier quotes for competitive rates
  • Streamlined application process
  • Ongoing policy management support
  • Claims advocacy when needed

Our analytics show potential savings of:

  • Small operations ($150K revenue): 30-50%
  • Mid-size ($500K revenue): 25-40%
  • Large operations ($1M+ revenue): 20-35%

Connect with our handyman insurance experts today for tailored coverage options and competitive quotes.