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Whether you have a well-established painting business or if you're just getting started, you need the proper protection. All that hard work and dedication merits an insurance policy that not only understands what you need, but that has your back, too.
At Simply Business, we offer liability insurance for painters that covers issues that small business owners face when growing their business. Getting started is simple: answer a few easy questions about your business, compare your free quotes, and select the policy that fits your needs.
Plus, you can get your free insurance quotes in less than 10 minutes.
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Buying an insurance policy can seem overwhelming. With so many providers talking about their bundles and discounts, how can you know what type of painters insurance you actually need that will provide the coverage you’re looking for?
Well, we've broken down exactly what type of insurance we recommend:
Commercial general liability (GL) insurance for painters protects you from associated costs of third-party accidents, property damages, bodily injury to a third party, and more. Commercial general liability coverage also protects you from on-the-job incidents such as your equipment being stolen or damaged.
The last thing you want as a business owner is to pay for those incidents out of pocket. That's exactly what would happen if you didn’t have commercial general liability insurance.
In the context of painters, imagine that while you're painting in a customer's home, you accidentally spill bright blue paint on an expensive Oriental rug. The customer is furious and files a property damage claim against you.
If you didn’t carry painters liability insurance, you'd have to pay for the damage to the rug out of your own pocket. However, if you were insured, your policy could cover the cost of replacing the rug plus potential other fees incurred as a result of the damage — such as the customer hiring an attorney and suing you.
So what does general liability insurance usually cover?
Here's what general liability insurance usually doesn't cover:
In most states, it's legally required to carry workers compensation insurance if you have any employees — even if they're part-time or temporary. Often referred to as workers comp, this type of insurance protects your business if your employees get injured or sick while on the job.
Let's say you're at a job site with an employee, and they fall off a ladder while painting a wall. They break their arm and are taken to the hospital. Rather than your business forking over the money for those costs, your workers compensation policy covers the employee's medical bills, plus other related expenses like time missed from work.
It can’t be stressed enough how crucial workers compensation insurance is for painters. Even if situations like the one above seem few and far between, you can never be too careful. In fact, between 2016 and 2017, falls and slips were the 3rd most expensive accident for business to cover and averaged about $47,000. Costs in that range can be a significant setback to a painting business.
Workers compensation insurance for painters may cover:
Whether you're a well-established business or just getting started, any added business expense can be overwhelming.
But when it comes to insuring your painting business, that's one expense that pales in comparison to what you could end up paying if you were sued by an upset customer or if your equipment got damaged. Also, if insurance coverage is required in your state, not having a policy could result in legal repercussions .
Here are some of the most common insurance claims small businesses make:
What's more, the cost of a lawsuit could set your business back significantly. The [average cost of litigation for small businesses falls between $3,000 and $150,000. Also, it's important to note that you could be sued by a customer even though you didn’t do anything wrong. You could have gone above and beyond for your customers, but if they're unhappy with your work in any way, they could still sue you. A lawsuit means hiring a lawyer to defend your business, which can add up fast.
If you aren't appropriately insured, these costs could come out of your bank account!
Costs aside, having proof of insurance can help you reach different goals that grow your business, such as:
When you purchase your insurance policy through Simply Business, you'll receive a certificate of insurance (COI), so you can start providing proof of coverage right away.
You're required by law to carry workers compensation insurance if you have part-time or full-time employees. Depending on where you operate, you also may be required to carry liability insurance.
You can deduct the cost of your insurance premiums when filing taxes for your business. For more details regarding which business expenses are tax-deductible, we recommend speaking with an accountant.
Several factors will determine how much insurance you'll need, including:
Our quote form will provide you with the amount of insurance coverage we recommend. If you have any questions, our licensed insurance agents are happy to assist!
To view your free quotes even faster, we recommend having the following on hand:
Each state has its own painters insurance requirements. Our quote process makes sure you're equipped with the required coverage specific to your state. If you have questions or concerns about your policy, our licensed insurance agents can help you better understand the requirements of your state.
Typically, a standard painters insurance policy that includes general liability insurance and workers compensation insurance can cover:
The cost of your painters insurance policy will vary depending on a few factors, like the number of employees on your team and the specifics of the work you're doing. You can expect your policy costs to be determined by the following:
Ready to see how much your painters insurance may cost? Just click here to answer a few questions and start comparing free quotes in minutes.
If you offer other services, our licensed insurance agents can help you find the right insurance coverage that includes the most comprehensive coverage.
Simply Business is an online insurance brokerage that makes it easy to compare and purchase business policies from top insurers. With 10+ years of experience, we know about small business insurance and how to make the process, well, simple.
So why choose Simply Business?
We're fast and affordable. You’re busy running your business and don’t have time to worry about your insurance policy. Our policies are fast, affordable, and ready when you are.
We're flexible with coverage. Whatever you need to keep your business up and running — like increased coverage or a change in your policy — we’re here to help.
We get your business. We don’t believe in cookie-cutter insurance policies. We’re here for you every step of the way and will work with you to determine what coverage you need.
You pour your heart into your painting business, so we’re here to make sure you’re covered.Get your quote
This content is intended to be used for informational purposes only. It is not intended to provide legal, tax, accounting, investment, or any other form of professional advice.