Florida provides plenty of business opportunities for handyman businesses. For the most part, you don’t need a license to work as a handyperson in Florida. However, if you do any extensive plumbing, electrical wiring, or any work in multiple-unit apartment complex, or start getting into construction, Florida requires a license for those jobs.
You’ll need business insurance whether you’re licensed or not. Here are our picks for the top five handyman insurance companies in Florida.
- The 5 best handyman insurance companies in Florida
- What is handyman insurance?
- Is handyman insurance required in Florida?
- What kinds of insurance does a handyman need in Florida?
- How much does handyman insurance cost?
- How to find cheap handyman insurance in Florida?
The 5 best handyman insurance companies in Florida
After intensive research, here are our recommendations for the 5 best handyman insurance companies in Florida.
- CoverWallet: Best for online quotes
- Nationwide: Best for working with an agent
- Liberty Mutual: Best for comprehensive coverage
- Next: Best for bundling discounts
- Simply Business: Best for finding cheap coverage
CoverWallet: Best for online quotes
CoverWallet is a digital business insurance broker. They work with a number of companies to provide you with a few quotes to choose from. They will only provide you with quotes from companies they are partnered with, so it still pays to shop around.
CoverWallet specializes in small business insurance. If you aren’t sure what type of insurance you need, they have agents who can help you figure it out. You can get quotes for general liability, BOP, workers compensation, property, and other policies.
This quote is for a BOP policy for a handyman business in Florida with two full-time employees, and $400,000 in annual revenue.
Nationwide: Best for working with an agent
You can start an online quote with Nationwide, but you’ll have to call and work with an agent to buy a policy. If you don’t know what you need, you can call a coverage assistant to help you. Nationwide has thousands of agents located all across the country, so it should be easy to find a local insurance agent.
If you happen to own a farm, Nationwide is the number 1 farm and ranch insurer. They insure over half a million small businesses of all kinds and have excellent financial strength.
Liberty Mutual: Best for comprehensive coverage
Liberty Mutual is an excellent choice for mid-to-large size commercial insurance, so if your handyman business has become more of a multi-million dollar contracting business, Liberty Mutual might be a good fit.
You’ll have to work through an agent if you want a quote from Liberty Mutual. The website is very lean on details regarding small business insurance, as they clearly want you to direct your questions to your insurance agent.
Next: Best for bundling discounts
You can save up to 10% when you bundle several policies together at Next. Also, the online quote process is very quick and easy. If you have unique needs or a specialized business, you may have to call. You can purchase insurance online, or if you prefer, you can work with an agent. You can make claims online as well.
This quote is for our handyperson business in Florida with three employees and $400,000 in annual revenue.
Simply Business: Best for finding cheap coverage
Simply Business is a small business insurance brokerage. They work with many carriers with a focus on helping you find low-cost coverage that your handyman business may need. They specialize in finding good low-cost carriers to partner with. They vet the carriers that they work with to ensure that all of them have excellent financial ratings.
Pros:
- Easy to get and compare several quotes online
- Able to get quotes from A-rated carriers which you may not be aware of
- Knowledgeable agents that are available to help you along the process
- Good consumer satisfaction rating on trustpilot
Cons:
- Handyman insurance quotes online are available for general liability and professional liability only
- Have to file a claim directly with the carriers
What is handyman insurance?
There is no such thing as “handyman insurance,” but if you work as a handyman, you’ll need certain small business insurance policies to protect yourself from lawsuits. Also, some clients may prefer you to have insurance before they let you into their house or yard.
>>MORE: Handyman insurance: What It Is, What It Covers, & Cost
Is handyman insurance required in Florida?
For the most part, handyman insurance isn’t required in Florida, unless you answer yes to one of the following questions:
- Do you work in construction project?
- Do you plan to work in apartment complexes that require proof of insurance before you can get started?
- Are you planning to work on bank-owned properties?
- Are you planning to get a contractor’s license?
- Do you do plumbing and electrical work?
- Do you have to wear a helmet when you work?
If you answer “yes” to one of the following questions, you’ll need handyman insurance to operate in Florida. The specific insurance policy you’ll need to have is general liability coverage.
What kinds of insurance does a handyman need in Florida?
If you get most or all of your income from your handyman business, you definitely need insurance. Here are the types of coverage you should consider:
- General liability insurance
- Commercial property insurance
- Commercial auto insurance
- Workers comp insurance
- Business Owners Policy (BOP)
- Tools and equipment coverage
- Inland marine insurance
General liability insurance for handymen in Florida
General liability insurance will cover you for third party bodily injury and property damage. As a handyman, it’s extremely important to have this insurance, as you’re going into people’s homes. If you accidentally break the antique side table, or if your client comes into your workspace and trips over an electrical cord, general liability insurance will protect you.
If you only get one policy for your handyman business, make it general liability insurance policy. Depending on the nature of your handyman work, you may be required by laws to have general liability insurance before you can take on the projects (dee details above).
>>MORE: Best General Liability Insurance Companies
Commercial property insurance for handymen in Florida
If you rent or own a commercial space, you’ll need commercial property insurance. If you run your handyman business out of your home, you can safely skip this insurance. Commercial property insurance covers buildings, equipment, and whatever supplies you need to do business.
Florida is known for its hurricane season, which can cause damages to physical properties. If you operate your handyman business out of physical location, you need to have commercial property insurance.
>>MORE: Best Commercial Property Insurance Companies
Commercial auto insurance for handymen in Florida
If you use a vehicle for work (other than commuting) you need commercial auto insurance. As a handyman, you might drive from work site to work site, hauling your equipment and tools along with you. Commercial auto insurance is necessary. Also, if you have employees who drive for you, running business errands, they need commercial property insurance as well.
Florida has the highest uninsured motorists in the country, almost 20% of vehicles on Florida streets are without auto insurance coverage. As you are running a handyman business, an accident without insurance protection can easily push you out of the business. Make sure to have commercial auto coverage for you and your employees.
>>MORE: Best Commercial Auto Insurance Companies
Workers compensation insurance for handymen in Florida
if you have four or more employees in Florida, workers compensation insurance is required in Florida. In addition, if you use independent contractors for certain jobs, you need to make sure they carry workers compensation insurance as well. Workers’ comp covers your employees for medical expenses and lost wages. It also covers legal costs, and if they worst should happen, it will provide a death benefit to the employee’s family.
Handyman work is one of the riskiest job in Florida. They often work with dangerous tools, carry heavy items, and perform tasks at the significant height. Just a careless second, they can get seriously injured. Make sure you have workers comp insurance for you and your handyman employees.
>>MORE: Best Workers Comp Insurance Companies
Business owners’ policy (BOP) for handymen in Florida
A business owners policy (BOP) simply combines general liability insurance with commercial property insurance. If you operate out of your own home, you don’t need commercial property insurance.
You can also add business income interruption coverage to your BOP policy as well. Frequent hurricanes can make your income unstable, this coverage can be very useful to ensure the stable income for your handyman business in Florida.
Getting a BOP policy with all three coverages is a lot more convenient and cost efficient. You will be able to have some savings.
>>MORE: Best Business Owners Policy Companies
Tools and equipment coverage for handymen in Florida
If you use large, expensive equipment in your job as a handyperson (which would make you a contractor) you’ll need to insure that equipment with tools and equipment coverage. Things like backhoes, excavators, power tools, generators, and even regular tools are expensive, and you wouldn’t want to replace them all if they get stolen or damaged.
Inland marine insurance for handymen in Florida
As a handyman, you take your equipment with you from job site to job site. Tools and equipment coverage is a kind of inland marine insurance, which covers your equipment while it’s en route to a job. Commercial property only covers you while your equipment is sitting on your property.
>>MORE: Best Inland Marine Insurance Companies
How much does handyman insurance cost?
As you can see from the above quotes, costs vary widely. Some of the variance might be due to different amounts of revenue or the kind of building your business is based in. According to Insureon, here are some of the median costs for handyman insurance:
- General liability: $800 a year
- Workers’ compensation: $315 a month
- Commercial auto insurance: $150 a month
- Tools and equipment: $15 a month
As you can see, it’s important to shop around. You should also be as accurate as possible with your amount of revenue and payroll, so you can get the most accurate quotes.
How to find cheap handyman insurance in Florida?
Here are some tips to help you get the coverage you need at a fair price:
- Shop around for the best value. Get quotes from a few companies and compare them to find the right coverage for you at a reasonable cost.
- Don’t stop shopping around. Make sure you get new quotes before you renew your policy.
- Take advantage of discounts. If they’re not offered to you when getting a quote, ask about them, whether you’re buying online or through an agent.
Taking these steps will help ensure you’re not paying too much for your handyman coverage in Florida.
Last thoughts
Working as a handyman in Florida has many advantages. You can choose what jobs you take, who you work for and how much you work. Protect the business you’ve built by getting the necessary handyman insurance.
