Whether you handle residential interiors or exteriors, commercial buildings, or public spaces, working as a professional painter can expose you to a number of potential liabilities. Each task requires you to enter a new space, bring in your equipment, and maneuver around property and potentially people. While you may be highly skilled and careful, you can not control everything; clients will not always be happy, and accidents can and will happen. You do not want to be left having to pay for lawyers and damages out of pocket. The best way to protect yourself is with a comprehensive painter insurance policy.

In the following guide, we will cover everything you need to know about painter insurance cost. After reading it, you should have enough information to find the right policy for you.

We Cover in This Guide

• How much does painter insurance cost?

• What is painter insurance?

• What does painter insurance cover/not cover?

• Benefits and risks

• Types of insurance you may need

• Tips for buying

• FAQ

• Summary

How Much Does Painter Insurance Cost?

Painter insurance costs rang from $39 to $89 per month depending on your provider, risks, coverage, limits, the nature of your business, and number of employees. The following are some examples of typical policies offered by most insurance companies.

- Basic coverage: $39 per month for general liability

- Standard coverage: $89 per month for general liability + professional liability

- Professional coverage: $89 per month for general liability + professional liability + workers’ compensation

These policies may not meet all your needs. Most insurers will allow you to customize an insurance package that will cover the specific risks of your business.

What is Painter Insurance?

There are a number of risks you deal with as a painter on each job. While painting a wall you could accidentally get paint on carpet or furniture. Someone working in the office you are painting could trip over a tool you left in the hallway. An employee could fall off a ladder, breaking an arm. Lawsuits and other damages from any of these potential liabilities can be extremely time-consuming to defend against, costly, and cause considerable damage to your business. Painter insurance is a policy designed to protect you against these and other risks involved in your business. No matter the size of your company, or how many clients you have, you should not take any job without coverage.

What Does Painter Insurance Cover/Not Cover?

Typical painter insurance policies cover the most common risks in your industry. They can include damage to your clients and their property, claims resulting from your actual work, and accidents that impact your employees. The specific liabilities these packages include fall into the following categories:

• Third-party bodily injury

• Third-party property damage

• Personal injury

• Completed services

• Claims related to professional mistakes or negligence and those of your subcontractors

• Claims from work completed or begun before the policy begins

• Employee illness or injury and related medical expenses

• Lost wages

Despite the wide-ranging coverage of these policies, certain scenarios are not included and will require additional insurance. The following are some examples.

• Theft or damage to your own equipment or assets while on site

• Theft or damage to your own property while in transit

• Claims related to accidents involving your company vehicle

• Repaying dissatisfied clients

Benefits and Risks

Painter insurance offers various benefits to cover risks, including:

• Peace of mind: ​Knowing that your business is covered in the worst-case scenario gives peace of mind to you, your employees, and your customers.

• Compliance: Certain businesses will only contract those with adequate coverage. Proof of insurance may give you a leg up against competitors vying for the same job.

• Protect your assets: Since many painters are sole proprietors, their personal assets are tied to the business and can be used to cover liabilities. This makes insurance especially important because a lawsuit can not only shut down a business, it can destroy your own finances.

• Cover legal expenses: If a client, employee, or third-party files a lawsuit against you, painter insurance will cover the expenses, including attorneys’ fees and damages.

Types of Insurance You May Need

• General Liability Insurance: This policy protects your business from injury or accident claims, property damage, false or misleading advertisement, and pays associated costs and expenses.

• Commercial Auto Insurance: Covers damages and injuries while driving business-owned vehicles.

• Commercial Property Insurance: Pays to replace or repair covered damage to your own assets.

• Workers’ Compensation Insurance: Workers’ compensation covers your business from medical expenses and lost wages if an employee is injured or becomes ill on the job.

• Professional Liability Insurance: Covers claims of damages related to the advice and expertise of your services.

• Cyber Liability Insurance: Protects you against damages from data breaches, hacks, and exposure of private customer information.

• Inland Marine Insurance: This policy protects your tools, equipment, and other assets from damage or theft while being transported to or from job sites.

Tips For Buying

When considering painter insurance cost, keep the following in mind before signing your contract:

• Work with an independent agent: An independent insurance agent will help direct you toward providers with the best rates and the most experience covering painters.

• Identify your risks: Be sure to thoroughly analyze your services, employees, and clients to identify potential risks. For example, if you work in the homes of very wealthy people with expensive furniture and art, you will want to ensure your limits will cover replacing these items.

• Compare quotes: Policy costs vary considerably between providers. Examine at least three quotes to find the best rates and coverage.

FAQ

- What does it mean to be “bonded and insured”?

It means that a business has taken measures to protect itself and its clients by obtaining a surety bond and minimum insurance coverage.

- Does painter insurance cover independent contractors?

Certain types of insurance, like general liability, do not cover the actions of employees paid with a 1099. That means that if such an employee causes damage, your policy may not cover the costs.

- I drive my personal vehicle to jobs. How do I protect myself?

Non-owned and hired auto insurance covers damages or injuries from accidents while performing business-related tasks in a personal vehicle.

Summary

Despite your best efforts, accidents and mistakes will happen in your work. And even if you did everything right, you can not please every client. Painter insurance is there to protect you against those risks both within and outside of your control.

Now that you understand painter insurance costs, you can feel confident in your search for the best policy for your business and know that you and your business are protected.