As a handyman in Montana, 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 Montana handymen need, including costs based on our analysis of actual quotes from leading carriers.
For more information on comprehensive handyman insurance overview, visit our resource.
General Liability Insurance for Montana Handymen
Based on our analysis of actual quotes, here are the typical costs for Montana handymen:
| Revenue | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $3,200 | 2.1% | $1,700 | 47% |
| $500K | $7,600 | 1.5% | $3,900 | 49% |
| $1M | $15,300 | 1.5% | $5,400 | 65% |
These premiums assume:
- Clean claims history (5+ years)
- Standard $1M/$2M coverage limits
- Mix of residential and commercial work
- 10% subcontractor costs
Worker’s Compensation Insurance for Montana Handymen
Montana requires workers’ compensation for handymen with employees. Key data points:
- Average cost per employee: $3,935 annually
- Cost per $100K payroll: $9,850
- Classification code 5645 rate range: $5.72-$16.73 per $100 of payroll
Factors affecting premiums:
- Job classification
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating
Additional Business Insurance for Handymen in Montana
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
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K/$300K bodily injury, $100K property damage
- Higher limits ($500K-$1M) recommended
3. Contractor’s E&O Insurance
- Annual premiums: $300-$1,000
- Coverage limits: $100,000-$1M+
- Covers faulty work claims
4. Surety Bonds
Typical costs based on credit score:
| 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 |
Get Montana Handyman Liability with ContractorNerd
ContractorNerd makes handyman insurance streamlined and data-driven through:
- Instant online quotes from top carriers
- Side-by-side coverage comparisons
- Montana-specific expertise
- Streamlined application process
- Ongoing policy management
- Claims advocacy support
Our analysis shows potential savings of:
- Small operations ($150K revenue): 30-50%
- Mid-size ($500K revenue): 25-40%
- Large operations ($1M+ revenue): 20-35%
Contact us today for tailored quotes and expert guidance for your Montana handyman business.