Whether painting is your primary occupation or your secondary source of income, you require business insurance to safeguard your financial concerns.
Painters need general liability insurance at the very least, which assists in protecting their business from claims of injury or damage. Depending on the business arrangement, additional coverage such as workers’ compensation and commercial auto insurance may also be necessary.
Below are further specifics regarding commercial insurance for painters, encompassing expenses, choices of coverage, and leading providers.
What types of business insurance do painters need?
Artists may require the subsequent varieties of business insurance. Precise coverage necessities will rely on the size and activities of your enterprise.
|
Type of insurance |
What it pays for |
Find a provider |
|
General liability insurance |
Third-party claims of bodily injury or property damage. May be required by your city or state. Clients may also require proof of liability insurance. |
Find provider |
|
Professional liability insurance |
Legal costs related to claims of mistakes or negligence, including breach of contract or missed deadlines. |
Find provider |
|
Commercial property insurance |
The cost to replace structures and physical assets, such as tools or building materials, that are damaged due to fire, vandalism or other covered events. (Note: Can be combined with general liability insurance with a business owner’s policy.) |
Find provider |
|
Commercial auto insurance |
Expenses related to accidents, such as property damage and injuries, when driving a covered vehicle for business purposes. |
Find provider |
|
Workers’ compensation |
Medical bills for employees and/or contractors who suffer a work-related illness or injury. Required in most states if you have at least one employee. |
Find provider |
|
Tools and equipment insurance |
The cost to repair or replace lost, damaged or stolen tools, including ladders, workbenches and stand lights. This coverage protects equipment whether it’s in your vehicle, in a trailer or on a job site. |
Find provider |
How much does business insurance cost for painters?
Most painters typically need multiple types of insurance coverage to pay for broken-down equipment using the median data rate from an online marketplace for small businesses called Insureon.
Painters’ general liability insurance costs $50 per month or $600 per year.
Painters’ workers’ compensation insurance costs $275 per month or $3,320 per year.
Painters can get commercial auto insurance for $135 per month or $1,600 per year.
Coverage for painters’ tools and equipment: $15 per month or $170 per year.
Prior to acquiring an insurance plan, obtain several quotations and assess the extent of coverage and premiums, as the expense can significantly differ among different providers. In addition to other considerations, the actual rates will be contingent upon the scale of your enterprise, its geographical location, and your previous claims record.
What is the most suitable option for your business?
Answer a few inquiries and we’ll connect you with an insurance associate who can assist you in obtaining quotes.
Top options for painting insurance
These providers offer a comprehensive selection of business insurance for painters and possess robust financial ratings (excellent or superior) from AM Best, a reputable credit rating agency that specializes in the insurance sector.
State Farm: Best overall customer satisfaction
Pros:.
One of the leading suppliers for overall customer contentment as per J.D. Power’s 2021 U.S. Study on small commercial insurance.
Agents can be found in every state in the United States, including Washington, D.C.
Cons:.
Online quotations are unavailable.
Online submission of claims is not possible.
Unfortunately, nearly all of State Farm’s insurance business is handled online, which means that claims quotes cannot be handled by agents. The insurer’s approach is to be sure that one personal study handles nearly 19,200 claims. State Farm is a favorite among small-business owners, earning the second place in overall customer satisfaction in J.D. Power’s annual study of small commercial insurers.
Next: Best for online quotes, claims
Pros:.
Buy your policy completely online.
Disputes are usually settled within 48 hours.
Cons:.
Fairly recent in the market (established in 2016).
Unavailable in New York or Washington, D.C.
Why should we choose Next, a company that offers a comprehensive insurance package for painters, which includes coverage for auto, commercial liability, general liability, workers’ compensation, equipment, and tools? You can obtain a quote for your desired policy by speaking with an agent over the phone or by using their online platform, where you can conveniently handle all your claims and purchases.
Progressive: Best for bundling business, auto coverage
Pros:.
Online quotations are accessible.
Savings for combining commercial and car insurance.
Cons:.
The majority of business insurance policies are done through a third party.
Unable to file a claim via Progressive (excluding commercial auto).
Although Progressive may be recognized for its auto insurance, it also provides a comprehensive selection of business coverage. Most of Progressive’s business insurance policies are facilitated through third-party insurers, and if you decide to procure multiple policies, Progressive will decrease your rate. We appreciate Progressive for these reasons.