As a handyman in Washington, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This guide breaks down essential insurance coverages Washington handymen need, with costs based on our analysis of actual quotes from leading carriers.
Learn what general liability insurance for a handyman entails and how to stay compliant.
General Liability Insurance for Washington Handymen
Based on our analysis of quotes for handymen from leading carriers in Washington:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $3,500 | 2.3% | $2,300 | 34% |
| $500K | $9,200 | 1.8% | $6,400 | 30% |
| $1M | $18,800 | 1.9% | $15,000 | 20% |
Premium assumptions:
- Clean claims history (5+ years)
- Standard $1M/$2M limits
- 10% subcontractor costs
- Revenue-based staffing: $150K (1 owner), $500K (3 employees), $1M (5 employees)
Worker’s Compensation Insurance for Washington Handymen
Workers’ compensation costs in Washington:
- Average cost per employee: $3,545 annually
- Cost per $100K payroll: $8,200
Key factors affecting premiums:
- Experience modifier rating
- Job classification codes
- Claims history
- Safety programs
Additional Business Insurance for Handymen in Washington
1. Tools & Equipment Coverage
- 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 recommended ($500K-$1M)
3. Contractor’s E&O Insurance
- Annual premiums: $300-$1,000
- Policy limits: $100,000-$1M+
- Covers faulty workmanship claims
4. 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 |
| $25,000 | $200-$500 | $500-$1,200 | $1,200-$2,500 |
Get Washington Handyman Liability with ContractorNerd
ContractorNerd offers:
- Data-driven quotes from specialized carriers
- Streamlined application process
- Expert guidance on coverage optimization
- Ongoing policy management
- Claims advocacy support
Typical savings through ContractorNerd:
- Small operations ($150K): 30-50%
- Mid-size ($500K): 25-40%
- Large ($1M+): 20-35%
Contact our handyman insurance specialists for tailored quotes and coverage recommendations.