If you own or are looking to own a painting company, you will need to get the right insurance to protect your assets. When you’re on the job, you have to look out for paint spills, property damage and slips. You’ll need to get the best coverage so you can breathe easy knowing you will be taken care of in the event of an emergency. Here are all the different painters insurance policies that you may need.
The Basics of Painters Insurance
Why You Need Painters Insurance
Employee injuries and accidents are nearly impossible to predict. You never know when catastrophe will strike, so why not get the protection that insurance provides? Costly liability claims will never hurt you when you have the right coverage.
Contractors General Liability Insurance
If you have your own contracting business, you may have more responsibilities than you can keep track of. There are things you might miss or neglect, but contractors general liability insurance will take care of that.
This insurance policy protects against third-party claims that include:
- Property damage
- Injury or bodily harm
- Loss of life
This blanket coverage encompasses direct and indirect actions against the insured and their employees in anything to do with loss or damage.
Liability insurance is a state requirement for the vast majority of contractors along with workers compensation insurance. Oftentimes, the only requirement will be a current and appropriate Certificate of Insurance to satisfy the company’s individual risk management policy.
Commercial Auto and Truck Insurance
Every vehicle, whether it’s owned, leased or rented, serves as an asset to your painting company. Without suitable commercial auto insurance, these assets can become a liability. From collisions to repairs, a commercial auto insurance policy should cover all of your vehicular concerns.
This type of policy covers all vehicles used for business purposes, whether it’s just one transport truck or a whole fleet of automobiles. Commercial auto and truck insurance extends to:
- Personal injury
- Uninsured motorists
Unlike personal auto insurance, commercial auto insurance also protects all items and goods inside the vehicle if there’s an accident. If you have a commercial vehicle for your business and an employee will be getting behind the wheel, you’re going to want to make sure you have commercial auto and truck insurance.
Workers Compensation Insurance
Sickness and injuries are common in any workplace, but especially the construction and painting industry. That’s why most states federally mandate employers to get workers compensation insurance to protect your company and employees.
This policy covers:
- Injuries or loss of limbs
- Diseases like musculoskeletal disorders or emphysema
- Injuries at work
- Medical treatment
- Lost wages
You may choose to self-insure if your company is small enough, but the wise decision when it comes to painters insurance is to go with a solid workers compensation coverage as to completely clear yourself of any liabilities.