How Much Do Elevator Installers Make

There are over 20,000 elevator installers operating in the US. The market size of the elevator installation service industry is estimated to exceed $31 billion. Do you want to know the answer to the question of how much do elevator installers make? Keep reading to learn about different elevator installer income metrics and the proper elevator installer insurance you need to protect that income.

How Much Do Elevator Installers Get Paid for Services?

How much does elevator installers get paid for the services they provide? As an elevator installer, you will typically charge around $30,000 for a home elevator that goes to two floors. Typically you will charge $10,000 for each additional floor the elevator needs to reach. Commercial elevators cost between $50,000 and $100,000 per floor. A typical price for a freight elevator will be between $15,000 and $30,000, but lower-cost options exist that only cost a few thousand dollars.

How Much Do Elevator Installers Make a Year

Do you want to know how much does an elevator installer make per year? An elevator installer makes an average of $53,164 annually. Your typical annual salary range will be between $36,500 and 75,000.

Annual Salary RangePercent of Jobs

How Much Do Elevator Installers Make a Month

Are you wondering how much do elevator installers and repairers make every month? On average, you will make $4,430 monthly as an elevator installer. The 25th percentile for monthly pay is $3,041, and the 75th percentile is $6,250 monthly.

Monthly Pay RangePercent of Jobs

How Much Do Elevator Installers Make a Week

As an elevator installer, you can expect an average wage of $1,022 per week. Your typical salary range will be between $701 and $1,442 weekly; however, outliers may make up to $1,923 weekly or more.

Weekly Pay RangePercent of Jobs

How Much Do Elevator Installers Make a Day

Assuming a 5-day work week, you will make an average of $204 per day as an elevator installer. The 25th percentile for daily elevator installer wages is $140, and $288 is the 75 percentile. The daily wages of an elevator installer will range between $100 and $384.

Daily Pay RangePercent of Jobs

How Much Do Elevator Installers Make an Hour

Do you want to know how much do elevator installers make an hour? You can expect your elevator installer's hourly wage to be $26 on average. The elevator installer's hourly wages range between $12.50 and $48.08. At the 25th percentile, you will make $18 per hour. Once you reach the 75th percentile, you will be earning $36 per hour.

Salary RangePercent of Jobs

What Are the Best States for Elevator Installers

The top-earning state for elevator installers is Nevada, with a $63,040 average annual salary and a $30.31 hourly wage. Below is a comparison of what you can expect to earn as an elevator installer in each state.

StateAverage Annual SalaryHourly Rate
New Hampshire$46,745$22.47
New Jersey$50,087$24.08
New Mexico$45,469$21.86
New York$55,997$26.92
North Carolina$45,741$21.99
North Dakota$47,842$23.00
Rhode Island$47,900$23.03
South Carolina$50,098$24.09
South Dakota$47,878$23.02
West Virginia$40,370$19.41

An closed elevator near the entrance of a building.

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What Are the Best Cities for Elevator Installers

The top-paying cities for elevator installers are Berkeley, Merced, Daly City, and San Mateo. Below is a comparison of the top 10 highest-paying cities to work in as an elevator installer.

CityAverage Annual SalaryAverage Hourly Rate
Berkeley, California$66,911$32.17
Merced, California$65,811$31.64
Daly City, California$64,694$31.10
San Mateo, California$64,274$30.90
Irvine, California$62,852$30.22
Tacoma, Washington$62,780$30.18
Richmond, California$62,171$29.89
Bellevue, Washington$61,925$29.77
San Francisco, California$59,946$38.82
Orange, California$59,856$28.78

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Insurance Requirements for Boosting Income

Insurance policies are one of the best investments to protect your business income. Your elevator installer business might suffer financial loss from events like a vehicle accident or a disgruntled client lawsuit. Your insurance premium offers you peace of mind against potentially bankrupting financial damage to your business.

Business Owner’s Policy for Elevator Installers

If you want a more comprehensive form of insurance, you should invest in a business owner’s policy. With a business owner’s policy, you get combined general liability and commercial property insurance coverage. NEXT offers affordable business owner’s policies you can buy online. They have a quick quote process that can accurately diagnose your coverage needs. NEXT has a 4.7/5 in its customer reviews and uses transparent pricing without hidden fees. NEXT was founded in 2016 and has an A- rating from AM Best.

General Liability Insurance

General liability protects your business from claims and lawsuits related to property damage, bodily injury, and advertising injury. The claims covered are from third parties, which include groups like your customers and not your employees. Thimble is our recommended pick for your general liability insurance. 

They offer the ability to purchase short-term general liability insurance you can set down to the hour. A-rated insurance partners back their policies and cover over 300 professions. Thimble is an excellent choice for a first-time buyer. Over 75% of Thimble’s customers are first-time purchasers of insurance policies. Thimble has an A+ rating from the Better Business Bureau.

Professional Liability Insurance

You will use professional liability insurance to protect your business against copyright infringement, libel, and negligence. This policy is also called errors and omission insurance because it covers claims related to business mistakes. Hiscox is our top choice for professional liability insurance. Your policy gets worldwide coverage if you file a claim within the United States or Canada. Hiscox serves over 500,000 customers. 4.7/5 customers recommend Hiscox on their customer surveys. Hiscox has an A rating from AM Best.

Commercial Property Insurance

Commercial property insurance protects your business from physically damaging events like theft, vandalism, fire, and water damage. It covers the building your business operates out of equipment, tools, and materials kept on the premises. CoverWallet is an excellent choice for commercial property insurance. They have over ten highly-rated insurers to choose from on their platform. You can fill out a form for instant quotes and policy purchasing. Another option is to skip the form and call them directly. Quotes from CoverWallet come without a buying commitment. CoverWallet has an A+ rating from the Better Business Bureau.

Commercial Auto Insurance

Commercial auto insurance protects business vehicles when they get damaged or destroyed. Most states require insurance protection when operating vehicles and personal auto insurance does not cover most business activities. Tivly offers options for purchasing commercial auto insurance like personal injury protection, gap insurance, and rental reimbursement coverage. With Tivly, you can access over 200 insurance partners like The Hartford, Liberty Mutual, Progressive, and Gallagher.

Workers’ Compensation Insurance

When your employees get injured or sick, you need a workers' compensation policy to cover them. If you have employees, most states will require you to purchase this coverage. This policy pays for medical costs for employees, like treatments, checkups, and medications. The Hartford is our pick for workers’ compensation insurance. They utilize nurse case managers that help facilitate employee treatment so they can recover quickly. In 2022, the company had over $11 billion in direct premiums. They are a long-standing insurer with over 200 years of underwriting experience. The Hartford has an A+ rating from the Better Business Bureau.

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