What workers' comp costs for a solo handyman
You're a one-person handyman. Someone asked you to send a certificate of insurance. You need coverage fast. You want to know what workers' comp costs and what makes the price change.
The cost of workers' comp for a solo handyman depends on three main things: your state, the kind of work you do, and whether you want to be covered yourself. The only way to get the real price is to get your quote. Your quote will show you the actual cost for your situation.
Workers' comp is not the same as other kinds of insurance. It only pays for work-related injuries to people who are covered by the policy. It does not cover you if a customer sues you — that is general liability, and it’s a different kind of insurance. We don’t sell that kind here. We only sell workers' comp.
For a one-person business like yours, the policy can be a ghost policy. That means it shows you have coverage for the business — but it does not cover you, the owner, if you get hurt at work. If you want coverage for yourself, you can choose to include yourself in the policy. That choice is called an owner inclusion election and it costs more.
Your state decides part of the cost
Your state has rules about workers' comp. Some states have high costs, some have low. The state you live in is the biggest reason the cost changes from one person to another. You can’t change your state, but you can see what your state charges when you get your quote.
Each state sets the minimum amount you must pay for a workers' comp policy. This is called the minimum premium. You can't get a policy for less than that in your state. The quote will show you the real number for your state.
Some states let you choose how long the policy lasts. Others require it to last for a set time. The quote will show you what your state requires.
The kind of work you do affects the cost
The work you do every day is called your class code. Class codes are like numbers that help set the price. A handyman who fixes electrical problems has a different code than a handyman who does plumbing. Each code has its own cost, based on how risky the work is. That’s why it’s important to tell the truth about the kind of work you do when you get your quote.
Class codes are set by the state and are used only for workers' comp. They do not decide what the policy covers — the policy covers work-related injuries to covered people no matter what your code is. Class codes just help decide the price.
When you get your quote, you can choose the right class code for the work you do. That helps give you the most accurate price.
How much work you do also matters
How much work you do in a year helps decide your cost. If you work more hours, the cost is higher. If you work fewer hours, the cost is lower. The quote will ask you how much work you expect to do. You can give a best guess — the more accurate you are, the better the price you get.
Some people measure work by how many projects they do. Others use how many hours they work each week. The quote asks for one of these numbers. It helps the system know how to price your policy.
Even if you don’t know exactly how much you’ll work, it’s better to give a number that’s close to what you think. That way, the cost is more accurate.
Owner inclusion election changes the cost
By default, you — the owner — are not covered by the policy. That means if you get hurt at work, the policy does not pay for your injuries. You can choose to be covered, though. That choice is called an owner inclusion election. It is made at the time you get your quote, and it costs more.
If you make the owner inclusion election, the cost of your policy goes up. The price depends on your state and the work you do. The quote will show you the new cost if you choose to be covered.
Choosing to be covered is optional. You don’t have to do it. But if you want the policy to help you if you get hurt at work, then it’s the right choice for you.
The only way to get the real cost is to get your quote
There is no one price for workers' comp. The cost depends on your state, the work you do, and your choices during the quote. The only way to know the real price is to get your quote. The quote is free and takes only a few minutes.
When you get your quote, you’ll see the cost for your situation. If you want to be covered yourself, you can choose the owner inclusion election. The quote will show you the new cost if you do that.
What happens if you cancel the policy
Cancellation terms depend on your policy and your state. We cannot promise free cancellation. Workers' comp carries earned/minimum premium and cancellation rules vary by carrier and state. The quote will show you what the cancellation terms are for your policy.
Next steps
You now know what affects the cost of workers' comp for a solo handyman. The cost depends on your state, the kind of work you do, how much work you do, and whether you want to be covered yourself. The only way to see the real cost is to get your quote.
Go to start your quote and see what your policy costs. If you want to be covered yourself, you can make the owner inclusion election during the quote. The cost will change, and you’ll see the new price right away.
