Best Professional Insurance for Painters • Painters Insurance 101

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As a painter, you face a number of unique risks that come with your job. Although some painters assume that they may not need insurance because they do not operate from a physical commercial space, the truth is that commercial insurance coverage is just as necessary. for painters than for any other area of ​​expertise. Read on to explore some of the painters insurance policy options you may want to purchase to protect your business.

Compare painters insurance policies

As a business owner, you have dozens of insurance companies offering comprehensive insurance policy options for painters and painting business owners. Benzinga offers information and advice on the following painter insurers. You might want to consider starting your search for the right contractors insurance using the links below.

What is painter’s insurance?

Painter’s insurance is a contractor’s insurance policy that offers unique protections unique to the painting industry. You can add a variety of insurance protections to a painter’s insurance policy, ranging from liability insurance to insurance that protects the equipment you need for the job. Like other contractors insurance policies, you can contact a local insurance representative to arrange an ideal set of coverages that meet the exact needs of your business structure.

What should painters insurance cover?

The specifics you should expect your painter insurance to cover will vary depending on your business structure and the way you operate. Here are some of the more common types of coverage you may want to purchase when investing in a commercial insurance policy as a painter or director of a painting business.

Liability coverage: Liability insurance is protection that compensates you if you are sued by a client after causing some type of damage. For example, imagine a client is visiting a property you are working on and a member of your team drops and destroys the client’s laptop. If the customer sues you for the cost of a new laptop, your liability insurance will help pay for legal representation costs and court judgments.

Similar to auto insurance policies, you can also purchase bodily injury liability insurance that helps pay for legal fees if you are responsible for an injured client or customer. For example, imagine a client visiting a property you work on, tripping over a roller left on the floor, and spraining their ankle. If that client sues you for the cost of their medical bills, your liability insurance will help pay for legal fees and judgments. More business owner policies (BOP) include both bodily injury and property damage liability coverages, as well as commercial property coverage.

Business interruption insurance: As a small business owner, you may find yourself in a situation that requires you to temporarily close your business. Business interruption insurance helps you replace lost revenue when you are forced to temporarily shut down your operations. Business interruption insurance covers things like income, operating expenses, taxes, and loan repayments while you can’t make money from your business.

Commercial automobile: If you have a vehicle that you use for work (even if that vehicle is both your personal and business vehicle), you may not be covered by a standard auto insurance policy. Commercial auto insurance allows you to legally drive any vehicle you use for your business. Like standard auto insurance policies, most states require that you have both bodily injury liability coverage and property damage liability coverage on your commercial vehicle policy. The specific coverage levels you need to maintain vary depending on the state you live in.

Umbrella cover: Umbrella insurance is coverage you can purchase that extends the limits of your liability insurance. Like most other types of insurance, professional liability insurance policies have an upper limit in the total amount your insurance will pay for a claim. If your legal fees or judgments exceed this limit, you will need to cover the remaining balance out of pocket. Umbrella insurance policies increase this limit, meaning you’ll be less likely to have to contribute to claims made against you.

Workers’ Compensation: Workers’ compensation insurance is protection that helps your employees cover the cost of medical expenses or lost wages if they are injured on the job. Depending on where you live and operate your business, you may need to purchase workers’ compensation insurance as soon as you hire your first employee. As with commercial auto insurance policies, the specific level of coverage you will be legally required to maintain if you need to purchase workers’ compensation insurance will vary depending on local laws.

Coverage of professional equipment: Commercial equipment insurance helps pay for repair or replacement costs in the event the tools you use to do your job are damaged. Commercial equipment insurance is not the same as the property damage liability coverage that comes with most BOPs. Although the liability insurance included in a BOP covers damage to your customer’s property, it will not provide compensation for damage to your tools or the tools you rent.

Professional equipment insurance can cover damage to both equipment you own and equipment you rent or borrow. As long as you use a tool in the course of your job, your professional equipment insurance may provide coverage. The price you’ll pay for this type of coverage largely depends on the value of the equipment you use every day.

Benefits of painter’s insurance

Investing in a comprehensive professional insurance policy for your painting business has many benefits. Some of the main reasons why painters purchase insurance policies are as follows.

Customizable: Worried about paying too much for insurance coverage you won’t use? Insurance policies for painters are completely customizable, allowing you to adjust your coverage limits and protections to meet the unique needs of your business. An insurance representative can help you select coverages based on your business structure, where you live and how many employees you have.

Point of sale for customers: Put yourself in your customers’ shoes for a moment. Would you rather work with a company that maintains a comprehensive set of insurance coverages or one that hasn’t invested in a policy? If you’re like most customers, you’ll probably choose the company that’s insured. Maintaining insurance can be a major selling point when attracting new clients, as it tells clients that you have actively invested in your business and that you take your job seriously.

Protection for homeowners or landowners: Homeowners and landowners often worry about the quality of work they will receive when hiring a contractor. This causes many owners to forego professional assistance and attempt to tackle their own improvements. As a painting company with trade insurance, you can use your insurance policy to reassure potential customers when they explain your services and why they should choose your company.

Get the insurance your business needs

Have you operated your business without painter insurance? If you have been, you may be putting your business and future livelihood at risk. Although painting is not a high-risk profession compared to marketing agencies and construction projects with million-dollar budgets, you can still be held financially responsible for damages you cause in the course of your work. if you work without insurance. Getting coverage helps you sleep with the peace of mind that comes from knowing you won’t be left without financial assistance in the event a customer sue you or your business.

Frequently Asked Questions

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Are painters insured?

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Sarah Horvat

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Painters should have comprehensive insurance coverage to protect their businesses. If you are a painter or manage a team of painters, you should research business owner policies, which help cover some of the more general liability threats you may face. Depending on your business structure, you may also need to purchase workers’ compensation insurance and commercial auto insurance policies.

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Benzinga

What insurance does a freelance painter need?

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What insurance does a freelance painter need?

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Sarah Horvat

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The most important coverages you’ll likely need as a self-employed painter include general liability, business interruption insurance, and workers’ compensation insurance if you have employees. If you own a vehicle that you use for work, you should also consider researching whether you need a commercial auto insurance policy.

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Benzinga

Benzinga has developed a specific methodology to classify business insurance. We’ve prioritized carriers based on coverage options, types of businesses served, customer service experience, and how quickly and easily you can get insured, including using online tools . We’ve also included professional insurance quote aggregators in the listings to make it easier and better to compare quotes and policy options. To see a full breakdown of our methodology, please visit our Business Insurance Methodology page.

CoverWallet makes buying business insurance easy for everyone. Get free advice to determine exactly what type of insurance you need, compare quotes for the type of coverage that’s right for you, and manage your insurance all in one place.

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