As a handyman in Utah, protecting your business with proper insurance coverage is essential for managing risk and meeting state requirements. This comprehensive guide breaks down insurance costs and coverage options based on our analysis of actual quotes from leading carriers serving Utah handyman businesses.
Access a business insurance for handyman overview to learn about key elements.
General Liability Insurance for Utah Handymen
Based on our analysis of over 850 quotes from leading carriers, here are the typical costs for Utah handymen:
| Revenue | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,700 | 1.8% | $1,800 | 33% |
| $500K | $7,800 | 1.6% | $5,800 | 26% |
| $1M | $16,200 | 1.6% | $10,500 | 35% |
These premiums assume:
- Clean claims history (5+ years)
- Standard $1M/$2M coverage limits
- Jobs under $2,500 in value
- ~10% subcontractor costs
Worker’s Compensation Insurance for Utah Handymen
Worker’s compensation insurance costs in Utah average $9,900 per $100,000 of payroll for handymen. Key factors affecting premiums:
- Employee classification codes (primarily 5645)
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Typical cost per employee: $3,968 annually
Additional Business Insurance for Handymen in Utah
1. Tools & Equipment Insurance
- Annual premiums: $200-$2,000
- Coverage limits: $5,000-$15,000+
- Per-item limit typically $5,000
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. Surety Bonds
- Bond amounts: $5,000-$25,000
- Premium: 1-3% of bond amount
- Rates vary by credit score
5. Commercial Property Insurance
- Cost: $1,000-$5,000 annually
- Covers workshops, storage, offices
- Protection against fire, theft, weather damage
Get Utah Handyman Liability with ContractorNerd
ContractorNerd makes handyman insurance data-driven and efficient through:
- Specialized agents understanding Utah handyman requirements
- Network of leading carriers for competitive rates
- Streamlined quote process
- Coverage comparison tools
- Flexible payment options
- 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 Utah handyman business.