Best Small Business Insurance
Best Small Business Insurance
A painting business requires little overhead and sustained demand. A fresh coat of paint can increase a listing’s perceived value—whether the house is on the market or simply being evaluated by neighbors. Because of the high demand of your services and low operating costs, your painting business probably isn’t going anywhere. So, given this steadiness, why would it make sense to invest in painters insurance?
Painters insurance offers protection from the various financial risks that face painting businesses in spite of the industry’s steadiness. Plus, many clients who try to contract your painting services will require you to come to the table with painters insurance, as well.
General Liability Insurance for painters can allow you to invest in your future financial protection and access top painting jobs today. Here’s a look at the details on what painters insurance can offer your business:
With Thimble, you can purchase policies by the hour, day, and month, so you’ll only pay for the time you’re working. Get an instant quote to better understand exactly how much it will cost.
The cost of your Painters Business Insurance policy depends on a few moving parts:
How long do you need your painters insurance policy to be active? If you’re performing a single job, your policy could be as short as a few hours. Or, if your painting business only runs seasonally, your policy could simply span a few months. Of course, though, investing in a policy that insures each and every painting job you perform will grant you the comprehensive coverage you need.
Who Your Policy Covers
You also need to decide who your painters insurance will apply to. You should include any team member or volunteer who helps you complete your painting services. The more individuals who are covered on your policy, the more ample your coverage will be—and the more it will cost. Just like investing in a long enough policy, investing in a policy that covers every member of your team is crucial. The cost of insuring each and every team member you have could save you from paying out-of-pocket for incidents that involve uninsured employees.
If a company contracts your painting services, then your painters insurance policy might need to feature them as an Additional Insured. Add as many as you’d like to your policy—with Thimble, they’re free. This step will make your policy apply to the work you fulfill as a contractor for this company.
Some clients will actually require you to hand over a Certificate of Insurance that lists them out as an Additional Insured on your painters insurance policy. With an easily customizable policy and an instantly accessible COI, you can make it happen quickly through Thimble.
Your policy limit is simply the amount of money you’ll be able to access from your insurance provider through your policy. Through Thimble, you can choose to have a limit of either $1,000,000 or $2,000,000 on your painters business insurance policy. The higher the limit, the more your policy will cost, but investing in a higher policy limit now could mean the difference between complete and partial claim coverage in the future.
Finally, if you’re accessing painters insurance through Thimble, you have the option to add additional coverage onto your policy.
For instance, even if you’re arranging a self-employed painters insurance policy, you can also add on coverage for services like chimney cleaning and appliance installation.
That way, you can access complete coverage for all of the services you offer in one policy, rather than shelling out for multiple one-size-fits-all policies.
Now that you’re familiar with what the cost of painters insurance entails, it’s time to think about why insurance is worth the investment it might require.
As a painter, you should access General Liability Insurance to help protect you from the most common financial risks that painting careers typically entail.
To consider how liability insurance for painters would work for you, take a look at these common risks it covers:
Say you’re working diligently to paint your client’s home office space a bright white. But, like any good painting professional, you lay down a tarp to shield the hardwood floors from paint drips. Your client comes into the space to find a document he left on his desk, and as he rushes out to get out of your way, he slips on the tarp and damages his back.
He needs you to compensate him for the time he loses in his career as a moving specialist, because he can’t do any heavy lifting with his back injury. Your painters General Liability Insurance covers bodily injury, though, so you’ll be able to file a claim to address these expenses.
3rd Party Property Damage
Alternatively, imagine you’re working in the same home office, with the same bright white paint and the same slippery tarp. Except this time, your client is a software engineer, and he sneaks in to grab his computer monitor off of his desk.
This time around, he slips on the tarp, but his monitor breaks his fall—and it shatters in the process. Your client demands you cover the costs of replacing the monitor, and because your General Liability Insurance covers third party property damage, you can do so without dipping into your business’s cash flow.
Even if your painting business is running perfectly, you’re still vulnerable to unfounded claims. No matter how far-fetched a customer’s claim might be, you might still have to pay for a lawyer to prove that the claim is false. That’s why it’s important to access a painters General Liability Insurance policy that covers defense costs. You’ll be able to hire a lawyer and defend your painting business—without paying thousands of out-of-pocket dollars to do so.
Your first client—the moving specialist—actually ends up needing surgery, and you’re found to be responsible for the copay. Your painters General Liability Insurance covers medical costs, so you can tap into your coverage to pay for your client’s operation.
If you purchase a painters insurance policy through Thimble, then you’ll be able to access a Certificate of Insurance instantly. Whether you’ve just completed your policy purchase, or you need to prove your long-term policy is still active, you can access your COI within seconds in your Thimble app.
There you have it—everything you need to know about painters insurance. Now that you’re familiar with all of the details on this form of small business insurance, you’ll simply need to decide the terms of your ideal coverage, get an automatic quote, and, all within a few clicks, you’ll be covered!
Handymen + Contractor insurance protects your business from lawsuits, if you or your property accidentally hurts a third party or damages their property.