Inside and Out What Type of Insurance Should You Carry as a Painter or Decorator?

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what type of insurance should you carry as a painterOwning a small business is a dream for a lot of people. Those who are good with their hands are are skilled in a certain area should consider starting their own decorating or painting business. While this can be a great type of business to start, there are many factors that need to be considered and decisions that need to be made.

House Painting 101 – How to Get Started as a Part-Time Painter

What Type of Insurance Should You Carry as a Painter or Decorator?

One big decision that needs to be made is deciding on what insurance the business needs. To ensure their assets, employees, and business are properly protected, there are several types of insurance that a painter or decorator should get.

General Liability

The most important type of insurance coverage that a painter or decorator will need to have is general liability. When completing any type of job, a painter or decorator will be taking on a certain level of liability. When you have a general liability in place, you will receive several different types of liability coverage.

One of the most important parts of your general liability insurance policy is the property damage component. While you are working on a job, there is always a chance that you could accidentally cause damage to the building or interior fixtures. When you have a property damage policy in place, you will receive the coverage you need from any accidental property damage.

Your liability policy will also provide you with bodily injury coverage. When you are working onsite, there is always a chance that someone could slip and fall or become injured in another way as a result of your presence. If this occurs, you could be found liable for these injuries. The bodily injury liability component of your policy will cover this type of liability for you.

Finally, a general liability policy will provide you with ancillary coverage as well. The liability policy can provide you with coverage for false advertisement, slander or libel, and a variety of other types of liability claims. Having this general liability policy in place will help to ensure you are able to operate your business without being concerned about liability claims.

Workers Compensation

Another important type of insurance for painters and decorators is workers compensation. Workers compensation is a type of insurance that will provide you and your employees with insurance coverage if they are injured while on the job. Workers compensation insurance is required by law in almost every state. The requirement also varies based on how many employees you have.

Vehicle Insurance

One of the biggest assets that most painters and decorators will have is their vehicle. To make sure that your vehicle is properly insured and fully covered, you should have a commercial vehicle insurance policy in place. This will provide you with a wide variety of coverage types including coverage for damage occurred in an accident, driving liability coverage, and coverage for theft or vandalism. This will typically also be required if you took out a loan to finance the vehicle.

Having these types of insurance plans in place while operating as a painter or decorator will be able to provide you with the coverage you need to operate your business successfully. Furthermore, having insurance coverage in place will ensure you are in compliance with a variety of laws and will make you more marketable when trying to win new work.

Have you thought about painting or decorating as a career? 

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