Insurance for Painters
It doesn’t the type of contracting company you have, the best way to protect your business is with the right contractor’s insurance policy. Every painting contractor needs a variety of different kinds of insurance; some of these policies are similar no matter the type of business while others might be specific to the painting industry. General Liability, Commercial Auto and Workers Comp are some of the coverages that remain the same across the board.
Understanding Painting Contractors Insurance
There are many liability policies out there you can purchase to protect yourself from potential financial ruin. Contractors general liability is a less specific form of coverage that provides a generalized, overall protection for third party liability claims resulting from all the different things that could go wrong on a job site. While it may not protect you from everything, a good painting contractors general liability policy provides you with a solid foundation.
A painting contractors general liability policy provides coverage for defense from lawsuits and will pay financial claims when negligence on the part of you or your employees can be proven. It helps your painting business avoid a potentially catastrophic financial loss due to injuries, property damage, or any other claim that can be shown to be a result of your company’s actions or products. Plus, if you plan on working for a general contractor or commercially, most will require that you carry a painter's general liability policy with at least $1 million in coverage.
Choose Your Painting Company Insurance Wisely
When you select a general liability policy for your painting business, you should first make sure the policy covers you from all possible angles. If you have certain risks that are not covered by a painter’s general liability policy, you may want to look into purchasing additional policies to provide that coverage. For example, a workers compensation policy will cover your employees when they are injured on the job, or a commercial auto policy will cover your work vehicles to and from job sites.
It is absolutely essential to understand what is covered by your painter's general liability insurance and what isn't. You don't want to wait until a claim occurs to learn about the exclusions in your policy! While we will do our best to explain the coverages provided to you, you want to have a basic knowledge of what your policy covers.
A standard painting contractors insurance policy will provide coverage for liability claims for bodily injury; customer trips over a ladder on the job site and property damage such as over-spray on a vehicle, arising out of premises, operations, products, and completed operations; and advertising and personal injury liability.
Your painter’s general liability policy is one of the most valuable tools you will have to protect your painting business. It takes only a quick look at the news to see the array of claims customers have made against companies in recent years. Many times, these lawsuits ended in favor of the claimant. Without a good painting contractor liability policy, your company could wind up paying these claims out of pocket. Spend the time to choose the liability coverage that meets all your painting companies needs and potential risks.
If you are ready to see how we can help your painting business, you can get started by requesting a custom business quote now or by speaking now with Doug Coulter at 860-269-8161. We insure painting companies in all 50 states!
