As a handyman in Vermont, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down essential insurance coverages Vermont handymen need, including costs based on our analysis of actual quotes from leading carriers.
Discover how liability insurance for handymen policies address client property damage and injury claims.
General Liability Insurance for Vermont Handymen
Based on analysis of quotes from leading carriers, here are typical costs for Vermont handymen:
| Revenue Size | Avg Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,300 | 1.5% | $1,900 | 17% |
| $500K | $6,900 | 1.4% | $6,300 | 9% |
| $1M | $14,700 | 1.5% | $12,600 | 14% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Typical mix of residential/commercial work
- ~10% subcontractor costs
Worker’s Compensation Insurance for Vermont Handymen
Workers’ compensation costs in Vermont average $5,334 per employee annually and $11,500 per $100,000 of payroll. Key factors affecting premiums:
- Employee classification codes
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Handymen in Vermont
- Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person, $300K per accident, $100K property damage
- Higher limits ($500K-$1M) recommended
- Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
- Contractor’s E&O Insurance
- Annual premiums: $300-$1,000
- Policy limits: $100,000-$1M+
- Covers faulty repairs/negligent work claims
- Surety Bonds
Premium costs by bond amount and credit rating: 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 - Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Based on property value/location
- Covers tools, equipment, inventory
Get Vermont Handyman Liability with ContractorNerd
ContractorNerd makes handyman insurance simple and data-driven through:
- Specialized agents understanding Vermont handyman risks
- Multiple carrier options for competitive rates
- Streamlined quote and binding process
- Data analytics from 850+ handyman quotes
- Ongoing policy management support
Our platform offers:
- Online quotes from top carriers
- Coverage comparisons
- Compliance verification
- Claims advocacy
- Bundle discounts
- Certificate management
Contact ContractorNerd today for tailored Vermont handyman insurance quotes.