If you are a painter or decorator and take professional painting jobs, you are probably aware of the importance of painting contractor liability insurance. Just like any other profession, the industry runs on reputation. When work gets done on your home or office building, you want your neighbors and friends to love you for the work you do and the love you show to them.
You also want to do a good job because if you don’t, people may talk about it at the town hall and that could damage your business. If you have poor reviews at the local building where you do your painting or decorating work, it can put a bad mark on your name and cause you to lose business and even hurt your family financially.
Painters, decorators, and painting contractors need to get painters insurance cost. A thorough Artists Insurance package will generally include the following coverage: General Liability Insurance: CGL is probably the most important form of liability insurance that painters should have, as it offers financial protection against lawsuit damages resulting from personal property damage, or third-party injury.
Generally, the higher the coverage, the more it will cost. To determine what the maximum limits are for your CGL, contact an experienced insurance agent who specializes in Artists’ CGL’s.
In many states, the general liability limit is $1 million. Because you are considered a public nuisance, and because the risks of accidents when working with or near water are great, painter’s insurance policies protect you by paying medical expenses and replacement costs for materials or supplies damaged during accidents.
Other factors to keep in mind when shopping around for insurance policies include limits on the scope of liability and premium payments. Most painting companies will require a minimum level of liability coverage to cover their property, but you can increase these limits if you feel it is warranted.
Some painters opt for additional coverage to include payment for possible future losses, such as death or personal injury claims stemming from injuries on the job.
Bodily Injury Insurance: Just as the name suggests, Bodily Injury insurance coverage protects you if you’re hurt while on the job. While the majority of commercial buildings are required to carry some type of bodily injury protection, there are still many instances where a painter may not be covered.
If you work in an industrial setting or are putting up a permanent structure, you should review your state’s laws before purchasing bodily injury protection. It is also wise to review your employer’s policies before purchasing the policy, as some companies will only offer the bare minimum. For example, a painting company that works on construction sites is required to carry collision and liability coverage on their trucks.
General Liability Insurance: As mentioned above, this is probably the most common type of insurance policy that painters purchase. This form of protection will protect you in situations where you cause physical harm to others while engaged in the duties of a painting business.
For example, if a customer slips and falls on your property, or suffers an injury as a result of being on your property when you’re not there, your general liability coverage will pay to repair or replace a customer’s property, medical bills, and any other losses that resulted from the incident.