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Best Painters Insurance of 2022

Bryan Keith

There are several risk factors for painters to consider from property damage due to paint spills to an injury from falling off a ladder. Painters’ insurance can help protect business owners and employees against claims of injury and damages which could result in a financial loss. We’ve evaluated the best painters insurance providers based on coverage, financial stability, customer satisfaction, and overall quality.

Affordable plans and coverage provided within minutes

$2,000,000

Coverage Up To

$0 - $2,000

Deductibles

Overview

Next Insurance leverages AI technology to streamline the process to purchase insurance, track claims, and manage policies at no additional cost.

What we like

  • Affordable insurance plans
  • Customized coverage to fit your business
  • Get covered within minutes
  • Near instant access to proof of insurance
  • Quick and easy to process claims

What we don't

  • Not available in New York

Covers a wide range of industries

$2,000,000

Coverage Up To

$1,000+

Deductibles

Overview

Coverwallet began its journey in New York City in 2015 operating under the Aon Insurance banner. At Coverwallet, you can access everything you need to keep your company well-protected at an unbeatable price.

What we like

  • A skilled advisor to assist you
  • Free quotes from multiple insurance carriers
  • Covers low risk to even some high risk industries
  • Online account management

What we don't

  • No brick-and-mortar offices
  • Deductible costs

Offers a range of insurance poilicies

$2,000,000

Coverage Up To

$0 - $2,000

Deductibles

Overview

Simply Business provides insurance policies for a range of professions and small businesses.

What we like

  • Various business insurance policies
  • Quotes from multiple providers
  • Fast and easy application
  • Strong customer satisfaction

What we don't

  • Policies are a through a third party
  • Claims must be filed through insurance provider

Customized solution to fit your business needs

$2,000,000

Coverage Up To

$0 - $10,000

Deductibles

Overview

With a 100-year history of insuring businesses, Hiscox is well-known across America and globally. With more than 500,000 small business customers, Hiscox is fully aware and trained in the unique risks a business can face.

What we like

  • Established insurance company
  • Dual auto insurance
  • Customizable insurance for over 180 industries
  • Deductibles starting at $0
  • Affordable rates

What we don't

  • Limited US offices
  • Coverage limited to $2 million online

Flexible coverage by the year, month, day, or by the job

$2,000,000

Coverage Up To

$0 - $10,000

Deductibles

Overview

Thimble provides business insurance that can be tailored to your business by the year, month, day, or even the job. At Thimble, the process to getting the right business insurance is simple, scalable, and flexible.

What we like

  • Scheduled coverage options
  • Coverage by the job available
  • Buy a policy online within minutes
  • No hidden fees
  • Affordable plans
  • Drone insurance

What we don't

  • Not available in New York

eCommerce-only insurance solution

$2,000,000

Coverage Up To

$0 - $5,000

Deductibles

Overview

Spott will ensure that your policy coverage is tailored to your business while complying with Amazon’s Terms and Conditions. They also track changes to Amazon’s Terms and Conditions to identify potential issues with listings before a suspension.

What we like

  • Tailored eCommerce insurance
  • Liability insurance for Amazon sellers
  • Store Suspension coverage
  • Compares leading insurance carriers
  • Flexible coverage options and payment plans
  • Knowledgeable about Amazon’s rules and policies

What we don't

  • Limited physical offices

What is painters insurance?  

If you’re in a client’s home and you accidentally spill paint that damages the client’s floors, you could be held liable for damages. In another case, if you hire an employee, your state might require you to get insurance to cover workplace injuries and medical expenses.

Painters’ insurance can protect your business and help cover financial losses related to legal expenses, cost of medical treatment, valuable equipment, and property damage.  

Who needs painters insurance?

Many clients can require painters to have insurance before starting on a project. Whether you’re part-time or full-time, painters’ insurance can protect personal assets and your business against liability and damages. 

What insurance do painters need?  

When taking out painters insurance, it’s important to consider different types of coverage and policies to adequately cover your business for legal liability and potential financial losses.

The most common types of coverage for painters are:

General liability insurance

Coverage for general liability can cover a range of basic risks associated with painting businesses. You may be held responsible for damage to property that doesn’t belong to you or customers may want to know you are covered for risks before choosing to work with you. General liability insurance can help protect your business and pay for medical costs and legal fees after an accident. 

Coverage for general liability insurance can include legal fees, judgments, settlements from a lawsuit, third-party property damage, advertising harm, medical payments, and accusations of copyright infringement. 

Exclusions can include professional mistakes, medical expenses for employees, auto accidents, and damage to your business property. 

Tools and equipment insurance

Many painting businesses require an upfront investment in tools and equipment. Tools and equipment insurance can protect your painting gear wherever you travel with it and protect it against damage and theft. Many insurance providers allow you to include add-on coverage to your general liability insurance policy.

Tools and equipment coverage can include damaged equipment, stolen tools, and borrowed equipment. For instance, if your tools are stolen while on a job site or someone damages your equipment, you could receive coverage to help you pay for the repair and replacement costs. 

Exclusions can include wear and tear of equipment and rental equipment. 

Professional liability insurance

Sometimes referred to as errors and omissions insurance, policies can cover the legal defense costs if a client suffers a financial loss due to your services. For instance, a client could ask you to choose a color for their home and then accuse you of not following their guidelines of picking the right color. If they choose to take legal action, this could result in financial and reputational damages to your business. 

Professional liability insurance can provide coverage to protect your business against negligence, breach of contract, missed deadlines, professional mistakes, legal and settlement costs. 

Exclusions to policies typically consist of employee injuries, property damage, and false advertising.

Commercial auto insurance

If your business requires a vehicle to drive to client projects, commercial auto insurance can protect against collisions and damages that could occur. For instance, you may be driving to a project when you hit another car and damage the vehicle. Commercial auto insurance can help pay for property damage and medical costs related to the accident. 

Coverage can include vehicle theft, weather damage, vandalism, uninsured motorists, towing and labor, medical expenses related to emergency care, and legal expenses.

Exclusions can include drivers under the age of 18 years old, and non-business-related driving.

Workers’ compensation insurance

Workers’ compensation insurance can help pay for medical care and lost wages due to a work-related injury. For instance, an employee could fall off a ladder while on a work-related job that requires medical treatment or be left permanently disabled. In many states, it is a requirement for businesses that hire employees to have workers comp.

Coverage for workers’ compensation insurance can include medical expenses, lost wages, employer liability, permanent injury, and survivor benefits.  

Exclusions can consist of pre-existing medical conditions for employees, and coverage for professional mistakes. 

What are the limits of painters insurance?

Limits of painters’ businesses can depend on the type of policy you choose to take out and the size of your business. Some limits for general liability policies can go up to $1,000,000 per policy period. 

When taking out an insurance policy, it’s important to distinguish between per-occurrence limits and aggregate limits. For per occurrence limits, this is the maximum amount you can be covered for a claim. For aggregate limits, this is the maximum sum that can be paid out per policy period, no matter how many claims are submitted.

If in doubt, you can speak to your insurance company for tailored coverage options. It’s important to take out adequate coverage when considering your limits because any claims that exceed the limit will need to be paid out-of-pocket.

How much does painters insurance cost?

Several factors go into the calculation of painters’ insurance, and policy premiums can vary from one business to another. Coverage for general liability insurance can average $50 a month and $15 per month for tools and equipment insurance.

Here are some factors that insurers will consider when providing a quote:

  • The number of employees: As your business grows so will the number of employees. With more employees, there is a greater chance of work-related accidents which can increase the premium for workers’ compensation insurance. In addition, more errors and mistakes can be made, which can impact your premium for professional liability insurance. 
  • Deductibles: Depending on the type of insurance, deductibles can be adjusted to fit your budget and business needs. The more you pay in deductibles the lower your insurance premium. 
  • Type of vehicles: If you’re taking out commercial auto insurance, the type and age of your vehicles, as well as the number of vehicles used for business will impact your policy premium. 
  • Value of equipment: If your painting business uses a lot of high-value equipment, including safety equipment to protect your health from fumes, this can impact the premium for your tools and equipment policy. 
  • Years in business: Business owners that are more experienced can receive lower premiums as they are less likely to make costly mistakes that newer business owners could make. 
  • Claims history: In certain cases, you may be required to pay increased premiums during renewals if you have made successful claims on your policy. 

How to choose the best painters insurance

 Here are some key factors to consider when comparing painters’ insurance policies:

  • Read the fine print: All insurance policies come with exclusions and it’s important to read the terms and conditions before you take out a policy. This can help to avoid surprises when filing an insurance claim, and finding out that your business is not covered, which could leave you with large out-of-pocket expenses.
  • Bundles and add-ons: Many insurance policies can be bought as bundles or as an add-on to another policy. For instance, a business owner’s policy can provide coverage for general liability and commercial property insurance. When researching insurance plans for your painting business, discounts on bundles could save you money on your insurance premium.