As a handyman in Wisconsin, 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 Wisconsin handymen need, including costs based on our analysis of actual quotes from leading carriers.
Understand the importance of buying insurance as a handyman and protect your daily operations.
General Liability Insurance for Wisconsin Handymen
Based on our analysis of over 850 handyman quotes from leading carriers, here are the typical costs for Wisconsin handymen:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,800 | 1.9% | $2,100 | 25% |
| $500K | $8,800 | 1.8% | $7,400 | 16% |
| $1M | $18,600 | 1.9% | $17,600 | 5% |
These premiums assume:
- Clean claims history (5+ years)
- Standard $1M/$2M coverage limits
- 10% subcontractor costs
- Small jobs under $2,500
Worker’s Compensation Insurance for Wisconsin Handymen
Worker’s compensation insurance is mandatory for Wisconsin handymen with employees. Key details:
- Average cost per employee: $5,465 annually
- Cost per $100K payroll: $13,070
- Classification code 5645 typically applies
- Rates range from $5.72 to $16.73 per $100 of payroll
Additional Business Insurance for Handymen in Wisconsin
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
- Annual cost: $1,500-$3,050 per vehicle
- 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+
- Covers faulty workmanship claims
4. Surety Bonds
| 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 Wisconsin Handyman Liability with ContractorNerd
ContractorNerd makes handyman insurance simple and data-driven through:
- Specialized agents who understand handyman risks
- Multiple carrier options for competitive rates
- Quick online quotes and comparisons
- Streamlined application process
- Ongoing policy management support
- Claims advocacy when needed
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 ContractorNerd today for customized quotes for your Wisconsin handyman business.