Table of Contents
The cost of painting your home may seem like a trivial expense. But, if you’re not careful with your insurance for this project, it could easily run into the thousands per month. This is where choosing a company that offers competitive rates and helps reduce time spent on paperwork comes in handy.
The “what insurance does a self-employed painter need” is a question that many painters have. There are 6 best painting insurance companies for 2022, so it’s important to compare them before deciding on which company to go with.
Painting insurance from the top firms provides painters with the coverage they want at a reasonable cost. Depending on the size of your company and the kind of projects you work on, you’ll want to consider various levels of coverage. Do you, for instance, work on large office buildings, flats, or residences, or perform you solely do interior or exterior painting? We compared the coverage options, usual prices, and online application experiences of dozens of painting insurance companies to find the six best solutions.
Overall, CoverWallet is the best painting insurance provider.
CoverWallet, as an online insurance broker, works with a large network of providers, making it an excellent alternative for painting firms that work on both interior and outdoor projects, including ones that are higher than three stories. These companies may be difficult to insure, but CoverWallet can often obtain coverage for them as well as painters who operate in less dangerous environments. CoverWallet’s general liability coverage start at $39 per month.
Go to CoverWallet.com.
Coverage
While CoverWallet does not write the insurance it offers, it does have access to a number of carriers that can provide a comprehensive range of basic painting insurance products, including:
In addition, CoverWallet works with a few insurers who specialize in surety bonding. While not strictly insurance, bonds are often used by painters as a kind of protection and are occasionally needed for licensure.
Costs
Minimum premiums, such as the lowest price a carrier charges for a coverage, are listed on CoverWallet’s website. It provides minimal premiums for three levels of coverage for painters:
- General liability coverage starts at $39 per month.
- General liability + professional liability, beginning at $89 per month (all basic plan coverage plus professional negligence, retroactive claims, and subcontractor mistakes).
- Pro (all regular plan features, as well as coverage for work-related illnesses and accidents): Starting at $89 per month, you may get general liability, professional liability, and workers’ compensation coverage.
Painters may also add as many insurance as they like via CoverWallet’s carrier partners. Working with a broker like CoverWallet gives you the option of purchasing all of your painters insurance from a single provider or combining coverage from numerous carriers. Depending on the proposals you get, both may result in cost savings.
Simply Business: Best for Liability Insurance Policy Comparisons
Simply Business is a new internet insurance broker, although it works with a number of well-known providers, including CNA and Travelers. This allows painters to compare coverage choices and prices to ensure that they’re receiving the best bargain possible for their companies. Businesses with both interior and outdoor painting operations, as well as contractors that bring on additional services or conduct sign painting and lettering, may get general liability insurance workers’ comp coverage through Simply Business.
Simply Business is a website dedicated to business.
Coverage
Simply Business is restricted in the coverage it can market, despite dealing with leading carriers. Workers’ compensation and general liability are the only plans offered. However, if commercial property coverage is offered, the application will ask whether you want it.
Costs
Simply Business does not specify any minimum premiums, but we obtained quotations for a one-person firm doing interior painting work with yearly rates ranging from $700 to $900. Interior sign painting and lettering premiums were comparable, while outside work premiums skyrocketed, reaching in the $1,000 to $2,000 area.
Microbusinesses should use Hiscox.
Hiscox is a significant insurance company that excels in providing rapid quotations and comprehensive coverage to microbusinesses with less than ten workers. As an A-rated provider, Hiscox offers general liability insurance with a minimum price of less than $30 per month. Payment plans are also available at no additional cost, as well as a discount of up to 5% for home-based enterprises.
Hiscox is a place worth visiting.
Coverage
Hiscox provides only general liability insurance for the painting industry, and solely for interior and sign painting. Hiscox, on the other hand, is one of the few carriers willing to insure small firms. Furthermore, its general liability policy has a number of useful features for painters, including:
- Limits as low as $300,000 or as high as $5 million per occurrence
- Damages to the business’s leased premises are limited to $10,000.
- Optional business equipment coverage of up to $25,000 is available.
While Hiscox can not provide a complete BOP, it may cover part of your company’s assets.
Costs
Hiscox’s general liability minimum premium is $350 per year, or significantly less than $30 per month. We tried obtaining a few rates ourselves and discovered that general liability policies for one-person painting activities, entirely inside, range between $485 and $778 per month. The most significant differences in pricing seem to be location and the number of people in the company.
Progressive Commercial Auto Insurance is the best option for commercial auto insurance.
Painters who need to insure a work vehicle or van and already have liability coverage can contact Progressive Commercial for a quotation. Painters who have a BOP or general liability policy may save up to 15% on their commercial car via the Progressive Advantage Business Program, even if those other policies aren’t bought through Progressive Commercial.
Visit Progressive Commercial for more information.
Coverage
Progressive Business solely writes commercial vehicle insurance policies. Almost everything else is delegated to internet brokers. Progressive Commercial is also a leading supplier of commercial vehicle insurance in the United States.
It also has a program called the Progressive Advantage Company Program, which gives business owners access to insurance products that are often purchased by small businesses. One-stop shopping, as well as cheap business motor insurance and specialized customer service, are all benefits of this program for painters.
Costs
According to Progressive Business, painters pay an average of $181 per month for commercial vehicle insurance, which covers automobiles, light trucks, SUVs, and vans. This is determined by a number of criteria, including your driving record, location, and vehicle. Progressive Commercial also provides discounts to its policyholders, including savings on:
- Having worked in the business world
- Constant coverage is essential.
- Purchasing numerous insurance plans
- Payment of premiums in advance
- Using an electronic money transfer to make a payment
Thimble is the best option for short-term liability coverage.
Thimble provides a novel approach to get painters liability insurance. Its on-demand platform allows painters to obtain general liability insurance by the year, month, week, or hour, making cash flow management simpler. Thimble also allows painters with monthly insurance to put their coverage on hold for up to 30 days.
Pay a visit to Thimble.
Coverage
Thimble only provides general liability insurance to painters, which is generally enough for most firms. The insurance is available for a limited time, and the first bids include coverage limitations of:
- $1 million every occurrence, totaling $1 million
- Any one person’s medical bills may total $5,000.
- $1 million for defamation and other harm claims that are advertised.
- $1 million in product liability and finished operations liability
The first price is for the painter who purchases the coverage and does just the work specified in the application. If you choose “Painting (Exterior Only),” for example, your quote will be for a policy that only covers that activity. After the first quotation, you may add crew members and additional services, as well as expand your coverage limits. All of these add-ons come at a higher price.
Outside painting activities are covered by Thimble, however anything with more than three storeys is not.
Costs
Thimble’s website doesn’t specify any minimum premiums, but the application is so simple to fill out that we went through it four times for various states and company kinds. The quotations were paid on a monthly basis for a year and fell within the following ranges:
- Only the exterior: $114 to $697
- Only the interior: $64 to $250
- Interior and exterior costs range from $200 to $697.
- Painting and writing for signs ranges from $125 to $432.
These quotations seem to be on par with others on our list when multiplied by the year. It’s important to remember that the coverage limitations are either $1 million or $2 million. Other insurance providers we looked at were more flexible when it came to establishing limitations, and choosing lower limits may help you save money on your premium.
Another thing to keep in mind concerning Thimble is that your premium changes each month you keep your insurance active. Because of the insurer’s risk exposure, the early months are typically more costly, while Thimble charges less for shorter months.
Acuity Insurance is the best when it comes to providing high-quality claims processing.
Acuity Insurance is one of the leading insurance firms for producing high-quality business insurance in the nation. Acuity Insurance is a solid alternative to consider for your company, having been rated A+ by important rating boards such as A.M. Best and Standard & Poor’s, and having safeguarded more than 100,000 enterprises.
Acuity Insurance is a great place to start.
Coverage
The BOP (also known as Bis-Pak®) is Acuity Insurance’s approach of giving company owners the simplest way to receive insurance depending on their requirements and risks. Acuity Protection’s BOP stands out from the competition since it includes not just property and liability improvements, but also entire building replacement costs and employment practices liability insurance (EPLI).
Acuity Insurance offers the following services in terms of claims:
- With a network of over 30,000 service providers throughout all 50 states, roadside help is available 24 hours a day, 7 days a week, wherever you are.
- The following is a list of repair shops that are available: You may look for the closest pre-approved repair shop in your region on the company’s website.
- Acuity Nurse Hotline: A helpline that is open 24 hours a day, 7 days a week for non-emergency medical consultation.
Costs
On its website, Acuity Insurance does not provide monthly premiums. However, it has said that the premium it charges is based on the specific requirements of each company. When we attempted to get quotations via its website, we were advised that the submitted information should be confirmed by an approved representative.
How We Decided on the Best Painting Insurance Providers
When painters acquire business insurance, the most important considerations are cost and needed coverage, therefore we concentrated on carriers and brokers that offered the proper plans at a reasonable price. We also searched for firms that made pricing, purchasing, and administering insurance products simpler. Online apps and policy management tools save time for company owners.
What Type of Painters Insurance Do You Need?
One of the reasons it’s so tough to identify the finest painting insurance companies is that the term “painters insurance” really refers to multiple plans. Each insurance protects against a particular set of risks. For example, most painters need general liability insurance in the event that a customer sues them for property damage or bodily harm. Some painters may additionally need equipment insurance or commercial auto insurance for their work vehicles.
What is appropriate for one painting company may not be appropriate for another. However, while you consider which company provides the best painters insurance for you, you must consider how you conduct your business.
Conclusion
Painters insurance may not be the first thing that comes to mind when it comes to spending money, but it is necessary for safeguarding your company. Comparing quotes from many top-rated painters insurance providers is the best way to keep prices down. You’ll be able to choose the correct coverage for your company and your budget this way.
“cheapest painters insurance” is the 6th most searched for term on Google. It is a helpful search term to use when searching for painting insurance companies.
Related Tags
- best liability insurance for painters
- state farm painters insurance
- hiring a painter without insurance
- business insurance
- art insurance
