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.
Next Insurance leverages AI technology to streamline the process to purchase insurance, track claims, and manage policies at no additional cost.
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.
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.
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.
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.
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.
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:
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.
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.
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.
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 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.
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.
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:
Here are some key factors to consider when comparing painters’ insurance policies: