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A handyman can tackle small repairs and projects for homeowners and small business owners without the normal costs and complexities of working with a contractor. Unfortunately, there's always the potential for damage or someone getting hurt. The best handyman insurance protects you from these risks with affordable premiums, adequate coverage, and excellent customer service.
Insurance options range from broad protection for an entire year for a handyman that works regularly to job-specific coverage when a customer requires it or if you only work occasionally. No matter the size of your handyman business, flexible coverage options can protect you and your customers at a reasonable price. Continue reading to discover the best handyman insurance companies for a variety of protection needs.
Best Overall: CoverWallet
Why We Chose It
CoverWallet offers fast and easy handyman insurance with multiple coverage packages starting at just $39 per month for your business. It is part of Aon, a leader in the global insurance industry that specializes in small and medium-sized companies.
Instant online quotes
Professional advice available via chat, email, phone
Downloadable Certificates of Insurance
Offers surety bonds
Claims processing times vary by carrier
Policies may charge a broker fee
CoverWallet is an online marketplace that allows handymen to compare multiple insurance policy options in one place. Complete your online application and CoverWallet will display your coverage options from various insurance companies. With a single application, you can reduce the time required to search for coverage, get quotes, and compare prices.
Although CoverWallet is an insurance broker that does not issue policies, its results provide coverage options with the best benefits, coverage levels, and deductibles to save money on premiums. Policies start at $39 per month for general liability and you can customize the types of coverage you need, including inland marine, surety bonds, workers compensation, and more.
Most Affordable: Hiscox
Why We Chose It
Hiscox is an affordable option for handymen with flexible payment plans.
Fast online quotes with instant coverage
Quick claims processing
Customized policies to fit your budget
Covers work anywhere in the world
Flexible payment plans
Focuses on general liability insurance for handymen
Not all coverage available in every state
Hiscox is a leading global insurance carrier with origins dating back to 1901. Customers can receive quotes online or over the phone and purchase coverage immediately. However, not all policies are available through its website. Hiscox focuses on general liability insurance for handymen, although business property and equipment coverage is available in select states. Flexible payment options are available and there is no additional charge when paying premiums monthly instead of annually.
As a global insurer, your policy covers you anywhere in the world as long as claims are filed in the United States, a U.S. territory, or Canada. Claims can be filed online, over the phone, by mail, or through your agent. When a claim is reported, Hiscox immediately assigns a dedicated claims representative to assist you.
Best On-Demand Coverage: Thimble
Why We Chose It
Thimble offers handyman insurance by the hour, day, or month with coverage available in just 60 seconds and starting at just $5.
Ability to buy short-term policies
Extend, pause, or cancel at any time using the app
No deposit required
Partners with handyman industry association
Free platform to manage subcontractors
Short-term policies only for liability coverage
Coverage options vary by state
No commercial auto or property policies
When you need insurance for a short period of time, it doesn't make sense to purchase coverage for an entire year. On-demand coverage from Thimble can be turned on and off at any time. You can even add a work crew and additional insureds instantly and receive an updated Certificate of Insurance within 60 seconds. This reduces the cost to insure your business because you're only paying for insurance when you need it.
Thimble focuses on general liability insurance coverage from handyman from liability in case of bodily injury, third-party property damage, legal defense costs, and medical coverage. Policies can be purchased within 60 seconds and proof of coverage is immediately available. As a client, you can even use the Thimble Certificate Manager, which is a free platform to help you organize and automate approving subcontractor documents.
Best for General Liability: Simply Business
Why We Chose It
Simply Business is an online insurance brokerage that focuses primarily on general liability policies for small businesses.
Specializes in general liability, workers compensation
Coverage from companies that cater to each niche
Includes carriers with a larger appetite for risk
Certificates can take up to 24 hours
No online policy management
Claims and financial rating vary by carrier
Simply Business offers general liability insurance policies for handymen and other businesses through its online brokerage. An online portal allows you to find tailored insurance options for your handyman business and become insured in under 10 minutes. By working with a variety of insurance companies, it is able to provide the coverage you're looking for with monthly payments that fit your budget.
The company's main products are general liability and workers compensation insurance policies. It does not offer other policies like commercial auto insurance or business property insurance. With its focus on these products, it makes it easier to compare coverage options that meet your needs.
Best for Business Owner's Policy: The Hartford
Why We Chose It
The Hartford offers multiple discounted policy bundles that make it easier for a handyman to purchase adequate coverage for their business.
Broad coverage with customizable options
Per-project handyman coverage starts at $7
A well-known workers compensation carrier
Online claim reporting
Cost information only available by applying
Not available in Alaska, Hawaii, or New Jersey
The Hartford is a well-known name in the consumer and small business insurance industry. Its industry experience enables it to offer customizable Business Owner's Policies (BOP) with optional coverage that is designed specifically for handymen. Additionally, The Hartford offers a variety of add-on policies such as inland marine, business income, and surety bonds that provide comprehensive protection for your business.
The company launched a dedicated handyman insurance company called Putty that specializes in project-based insurance policies. Coverage is available for over 100 handyman projects, including assembling a shelf, installing hardwood flooring, and repairing cabinets. You can buy policies online and pay only for the time that you work. Policies are available in 26 states (as of April 2021) and start at just $7 per project, depending on the size and scope.
Best for Self-Employed: Next Insurance
Why We Chose It
Simple online application with automatic discounts so the business owner can focus on the business rather than the application process.
Hassle-free, online experience
Affordable premiums and multi-policy discount
Same-day coverage available
Optional coverage for tools and equipment
Doesn't offer commercial property insurance
Hard to customize policy coverage and deductibles
Next Insurance is an insurance company that operates 100 percent online, which is convenient for the self-employed handyman who is busy working on customer jobs during the day and handles administrative work at night and on the weekends. However, if you do have questions, you can reach customer service during normal business hours during the week.
Handyman policies can be purchased quickly with just a handful of questions before doing so. Policies start at just $29 per month for general liability with $300,000 in coverage, no deductible, and no extra fees for monthly billing. When you bundle more than one type of coverage, you receive an automatic 10 percent premium discount. The streamlined application does have its downsides because you cannot customize coverage during the application process. Instead, you have to email customer support with your changes and wait for them to manually alter your policy.
Our choice for the best handyman insurance is CoverWallet which acts as an insurance broker to present insurance companies that best suit your coverage needs. You can pick and choose carriers based on premiums, benefits, and financial strength and purchase a policy directly from its website or over the phone.
Frequently Asked Questions
What Does Handyman Insurance Cover?
Handyman insurance is designed to protect you, your customers, and others from accidents or harm related to your work. Most handyman jobs are repairs and renovations under $5,000 and do not require a contractor license. There are a variety of insurance policies that protect different aspects of your business, including accidents, property damage, employee injuries, your vehicle, and your tools.
Your handyman insurance policy should be able to cover your customers by issuing Certificates of Insurance. These documents verify that your customer is covered while you are working at their location.
What Type of Insurance Does a Handyman Need?
When looking for insurance for your handyman business, note there isn't actually a "handyman policy." Instead, your insurance coverage will generally fall into one of the categories below. You can pick and choose the types of policies based on your budget and desire to protect different aspects of your business.
- General Liability Insurance: This protects you in case you are found legally liable for an accidental injury to someone else or damage resulting from one of your customer jobs.
- Commercial Auto Insurance: Vehicles that you drive for work-related purposes are covered on the road, at the job site, or parked at your business. These policies also insure the contents of your vehicle, such as tools and materials.
- Business Owners Policy (BOP): A comprehensive policy, BOP combines both general liability and property insurance at a lower premium than buying them individually.
- Worker's Compensation Insurance: This insurance protects you in case one of your employees is injured on the job or on the way to a customer site. Some states require this insurance if you have employees. Handymen who don't have employees can skip this because you cannot purchase insurance just for yourself.
- Business Personal Property: Your work tools and equipment are covered in case they are damaged, lost, or stolen.
How Much Does Handyman Insurance Cost?
Handyman insurance rates vary depending upon where you live, the type of policy that you purchase, the coverage amounts, and the size of the deductible you choose. Previous claim history, experience in the field, and the scale of your business may also influence your premiums.
For worker's compensation insurance, the policy costs vary based on the number of employees, the type of work they do, and how much you pay them.
According to Insureon, these are typical rates for the most common handyman insurance policies:
- General Liability: $65 per month
- Commercial Auto Insurance: $150 per month
- Worker's Compensation Insurance: $315 per month
- Business Personal Property: $15 per month
Our research for the best handyman insurance concentrated on providers that provide a user-friendly online experience and serve a wide geographic area. We researched numerous insurance providers and included those that offer a variety of coverage and premium options. Our choices for the best handyman insurance were based on their coverage options, premiums, customer service, and benefits.