I don’t mean to frighten you, but painters face more risks than they think. Beyond paint drips or wrongly chosen colors, painters face the risks of damaging expensive customer property, getting injured on the job, becoming involved in severe vehicle accidents while driving for work, and more.
The best way to protect your painting business against the risks it faces is to get adequate insurance protection. This article will explain the most common coverages painters get and why they purchase them. I’ll also reveal the top 6 painter insurers and the pros and cons of each.
- 6 best painter insurance companies
- Am I required to get business insurance for painters?
- What kinds of insurance coverage do painters get?
- How much does painters insurance cost?
- Factors affecting painters insurance cost
- How can I find cheap painter business insurance
6 best painter insurance companies
- InsurePro: Best for affordable short term coverage for painting businesses
- Simply Business: Best for an easy buying process
- CoverWallet: Best for comparing several quotes online
- State Farm: Best if you prefer working with an agent
- Hiscox: Best for comprehensive coverage for painting businesses
- Thimble: Best for part-time painters and painting businesses
Here are the PROS and CONS of the 6 top painters insurance providers and a bottom-line take on each.
InsurePro: Best for affordable short term coverage for painting businesses
InsurePro makes it simple for painting business owners to get insurance for a short period, ie. just a few days, instead of the whole year, which will help small painting business save money on their insurance needs.
|– Able to purchase coverage only when you need it, even just for a few days|
– One-stop insurance shop
– Get online quotes fast
– Complete end-to-end insurance buying experience typically takes less than 15 minutes
|– Doesn’t offer as complete a line of coverages as other insurers.|
– Relatively new company with a limited track record.
– Little advice and support available for purchasing coverage.
Bottom line: Ideal for painters who only need occasional insurance protection fast.
Simply Business: Best for an easy buying process
Simply Business is an insurance broker specializing in serving small businesses. They offer a wide range of insurance products and serving small businesses in all industries. Simply Business makes it easy for small businesses to get a quote and buy a policy online. They focus on helping small businesses find the cheapest coverage from the carriers that they partner with.
|– Easy to apply for coverage online or get help from a representative over the phone.|
– Allows you to compare multiple quotes and buy painter insurance in minutes.
– Expert claims support 24/7.
|– Relatively new insurance company.|
– Not all coverages are available for all industries or locations.
– Sometimes quotes are not available online and they need to discuss your quotes options on the phone
Bottom line: If you need insurance quickly and value an easy application process, give Simply Business a look.
Here’s a sample painting business insurance quote from Simply Business.
CoverWallet: Best for comparing several quotes online
CoverWallet is another top insurance brokers focused on small businesses. They makes it fast and easy for painters to get several business insurance quotes, all from a single source. With CoverWallet, you complete a single online application, and it checks with its network of insurers and presents you with quotes from them.
|– Easy to compare several quotes online|
– Fast insurance.
– Simple and easy online application.
– Immediate proof of insurance.
|– Less flexible coverage options than other insurers.|
– May need to complete the insurance purchase process over the phone
Bottom line: If getting and comparing multiple quotes efficiently is essential to you, and it should be, you owe it to yourself to check out CoverWallet.
Here is a sample painting business insurance quote from CoverWallet.
State Farm: Best if you prefer working with an agent
State Farm offers a wide range of business insurance policies, from standard coverage like commercial auto insurance to specialized protections certain painting businesses may need.
|– Good option if you prefer to buy insurance through an agent.|
– Has agents in all 50 states and the District of Columbia.
– Strong, stable, and established insurance company.
|– Can’t buy coverage online.|
– Limited digital service capabilities.
– Insurance can be more costly than through other insurers.May need to speak to a representative over the phone to complete a quote and purchase coverage.
– Back-end systems seem a bit old-fashioned.
– Coverage is sometimes more costly than from other providers.
Bottom line: State Farm could be a good option for you if you prefer to buy insurance with the advice and support of an agent.
Hiscox: Best for comprehensive coverage for painting businesses
Hiscox is a leading player in the small business insurance space. It’s been in operation since 1901. More than 400,000 smaller companies choose Hiscox for their insurance needs.
|– Makes it simple to purchase business insurance online.|
– Easy to connect with experienced business insurance experts.
– Customizable and comprehensive coverage to meet your unique business insurance coverage needs.
|– May need to speak to a representative over the phone to complete a quote and purchase coverage. |
– Back-end systems seem a bit old-fashioned.
– Coverage is sometimes more costly than from other providers.
Bottom line: Hiscox is known for providing top-tier service, fast quotes, instant coverage, and quick claims processing. If these things are important to you, the higher cost of its coverage could be worth it.
Thimble: Best for part-time painters and painting businesses
Thimble is an online insurance provider that sells coverage to people who need painting and other business insurance fast and temporarily.
|– Suitable for quick or temporary painters insurance.|
– Daily, weekly, and monthly policies are available.
– Makes it easy for contractors working for painters to buy insurance.
|– Customer service is only available online, not over the phone.|
– Limited insurance customization options.
Bottom line: Thimble is a good option for painters that need coverage quickly or temporarily.
Here is a sample painting business insurance quote from Thimble.
Am I required to get business insurance for painters?
Painters are almost always required to have insurance because of the risk of injury and property damage they’re subject to. You might need insurance to:
- Get licensed as a painter. Many states will make you secure coverage.
- Start work on a project. Most clients require general liability and workers’ comp coverage to protect themselves.
- Hire employees. Most states require workers’ comp insurance when you do.
- Drive for business purposes. States expect people driving for work to get coverage to protect the interest of other drivers and property owners involved in an accident caused by a painter.
- Rent business property. Almost all landlords will require that you get general liability insurance to protect them against costly lawsuits.
What kinds of insurance coverage do painters get?
Painters and painting businesses may need a few coverages to protect their business. Below are a few main ones:
General liability insurance
Who gets it: According to industry experts, more than nine out of ten painters get general liability insurance.
Why they get it: General liability insurance for painters covers a wide range of common painter risks. You’re covered if someone (a non-employee) gets hurt while on your business property or you’re held responsible for damaging a client’s property. Clients, both residential and commercial, usually require it.
Related coverage painters get: Contractors errors and omissions (E&O) or professional liability coverage can help cover legal and settlement costs if a customer is ever unhappy with your painting services and sues you over it.
Commercial vehicle coverage
Who gets it: Most painting business owners get this insurance because they and their employees drive their own or business-owned cars, trucks, and vans for work reasons.
Why they get it: Most states require commercial auto insurance for business-owned vehicles to help pay accident-related medical expenses for other people’s injuries and damage to their property, including their cars. Personal auto insurance usually won’t pay for damages if you’re driving for business purposes, such as to purchase paint or consult on color choices.
Related coverage painters get: Collision and comprehensive protection pays for damage to your vehicle resulting from accidents (collision) or theft, extreme weather, and vandalism (comprehensive). Painters purchase this insurance to get the vehicles they depend on for work back up and running as quickly as possible after an incident.
Workers’ compensation insurance
Who gets it: Painters who have employees are required by most states to secure workers’ comp coverage. You may also need it to get licensed to conduct business.
Why they get it: Even though it’s required, it’s a good thing to do. Having it prevents employees from suing you over work-related injuries and the expenses associated with them. Workers’ compensation insurance provides benefits to you and your employees after a workplace accident. It can help pay for medical bills, disability, job retraining, lost wages, and more.
Related coverage painters get: Painting businesses with employees often get employment practices liability insurance. It covers you if an employee ever sues you for harmful work practices like unfair hiring and firing or harassment. This insurance will pay legal and settlement costs, which often reach six figures or more for this type of lawsuit — enough to put most painters out of business.
Tools and equipment insurance
Who gets it: Painters who depend on their equipment purchase this insurance, which is almost all of them.
Why they get it: It protects the equipment painters depend on to get the job done. Tools and equipment insurance ensures your painting gear is protected almost anywhere you store it, including your vehicle, a trailer, or a job site. If you regularly take expensive gear to job locations, tools and equipment coverage protects against damage and theft.
Related coverage painters get: Painting business owners who own or rent physical space get commercial property insurance. It covers your shop or other business property damaged by fire, extreme weather event, or vandalism. It also protects your painting equipment and inventory if damaged while stored in an owned or leased business location.
How much does painters insurance cost?
The average cost of painters insurance is $95 per month, or $1,140 per year. That is for a general liability insurance policy.
If we add more coverages, the premiums will increase. Below are the average cost of different coverages painters or painting businesses may need:
|Painters insurance coverages||Average costs|
|General liability insurance||$95 per month|
|Commercial auto insurance||$120 per month|
|Workers comp insurance||$195 per month|
|Commercial property insurance||$110 per month|
These are just the averages. Your rates will be different. What’s important is that you get multiple quotes from the insurers on the list (InsurePro, Simply Business, CoverWallet, or Thimble) to compare coverages and prices to find the best deal for your painting business.
Factors affecting painters business insurance cost
Painter insurance premium costs vary because they’re based on the unique risks faced by your business, including:
- The types of projects you work on (tall outdoor structures versus small interiors)
- Where your projects are located (challenging urban areas or simpler suburban ones)
- Your payroll and the types of work your employees do (painting versus clerical work)
- The number and types of work vehicles (cars versus trucks)
- The types of equipment you use and store (paint brushes versus expensive sprayers)
- Business property (small rented office versus large owned paint studio).
How can I find cheap painters business insurance?
Securing the affordable coverage required to protect your painting operation is easier than you think:
- Only get the coverages that you need: Learning about painting business coverage isn’t complicated or time-consuming. In as little a half hour of research or time spent with a business insurance expert, you should be able to get the coverage you need. There’s no need to become a painting business insurance pro, but a foundational understanding of the coverage will help you make wise decisions with or without professional support.
- Manage your business risks: No two painting operations are the same. Each faces unique risks. Make sure you have operational safety standards in place to avoid potential accidents and damages.
- Ask for discounts: Insurance companies offer a lot of discounts to small business owners. So make sure you ask for discounts before you finalize and pay for a policy
- Compare several quotes: Compare your quotes to find the best coverage at the fairest price for your painting business. Before purchasing insurance, check that the insurer is legit, has solid financial ratings, and has good online reviews. Once you are buying your insurance, you should be able to get proof of insurance immediately.