As a handyman in Massachusetts, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing clients. This comprehensive guide breaks down essential insurance coverages Massachusetts handymen need, including costs based on our analysis of actual quotes from leading carriers.
Check recommended public liability insurance for handyman plans to ensure proper coverage.
General Liability Insurance for Massachusetts Handymen
Based on our analysis of over 850 quotes from leading carriers, here are the typical costs for Massachusetts handymen:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $3,250 | 2.2% | $1,390 | 57% |
| $500K | $8,960 | 1.8% | $4,380 | 51% |
| $1M | $18,410 | 1.8% | $7,960 | 57% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Mix of residential repair work under $2,500 per job
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Massachusetts Handymen
Worker’s compensation insurance is mandatory for Massachusetts handymen with employees. Based on state data, Massachusetts handymen typically pay:
- $4,060 per employee annually
- $6,930 per $100,000 of payroll
Key factors affecting premiums:
- Employee job classification codes
- Annual payroll amounts
- Claims history
- Safety program implementation
- Experience modifier rating (EMR)
Additional Business Insurance for Handymen in Massachusetts
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
- Coverage limits: $100,000-$1M+
- Protects against faulty work claims
4. Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Based on property value and location
- Covers workshops, storage, offices
5. Business Owner’s Policy (BOP)
- Combines general liability and property coverage
- Lower premiums than separate policies
- Customizable coverage options
Get Massachusetts Handyman Liability with ContractorNerd
ContractorNerd simplifies insurance for Massachusetts handymen through:
- Data-driven quote comparisons from leading carriers
- Specialized handyman insurance expertise
- Streamlined application process
- Ongoing policy management support
- Claims advocacy when needed
Our analysis shows potential savings of:
- Small operations ($150K revenue): 30-57%
- Mid-sized ($500K revenue): 25-51%
- Large operations ($1M+ revenue): 20-57%
Contact us today for tailored quotes based on your specific business needs.