As a paint contractor, you make your living by paying attention to details. Whether you are working indoors or outdoors or painting a home or commercial building, your line of work requires a sharp eye. While you may easily spot a discolored wall or an uneven texture, reviewing commercial insurance for gaps in coverage is an entirely different task. At the Dave Mohr Agency, we understand the ins and outs of painting contractor insurance. We can advise and assist you in shopping for quality coverage, explaining the various options so you can feel confident in the coverage you select.
Knowing Your Risks
Painting is tedious work. You and your workers may often find yourselves at staggering heights, which could present a fall risk. In addition, working on location means you could be responsible for any property damages you cause. If you were to spill paint on a priceless family heirloom or drop a full paint can on a client’s pet, could you afford to pay the damages? Furthermore, there are general risks involved with business ownership, from commercial property loss and operational liability damages to advertising injury, and more. Make sure you are covered against the many dangers of your work with insurance that safeguards your financial assets.
Types of Insurance for Painting Contractors
For most painting contractors, there are several different types of commercial insurance needed to minimize risk exposures. Examples include, but are not limited to:
Commercial Auto Insurance
Whether your company owns several trucks or you use a personal vehicle for contracting work, commercial auto insurance can help protect your business against damages when you or your employees are responsible for causing an accident while driving for work. It can also help cover the cost of damages to your vehicle due to a covered event.
Inland Marine Insurance
While commercial auto insurance covers your vehicles and auto liabilities, you need separate coverage called inland marine insurance to cover damages to your tools and painting equipment during transit. This can include theft or damages that occur during an accident.
General Liability Insurance
General liability insurance is essential for nearly all businesses. It covers a broad range of commercial liabilities, including the cost of defending yourself against lawsuits. Imagine you spill paint that causes a client to slip and fall, or perhaps it accidentally ruins a wood floor instead. You could face litigation for injuries or damages, which can result in thousands of dollars in legal fees and court costs. General liability insurance can help cover these types of expenses, as well as the injury and property damages you are responsible for – up to the limits of your policy.
Workers’ Compensation Insurance
If you have employees working for your painting business, workers’ compensation insurance can help protect against workplace injuries and also keep your business compliant with local and state laws. This type of insurance helps pay for the necessary medical expenses of injured employees when they are hurt while working, regardless of who is at fault. It can also pay for rehabilitative costs and provide income replacement until the employee can return to work safely.
Errors and Omissions Insurance
If you make a mistake while painting, it shows. Unfortunately, some mistakes can be costly. Perhaps you forget to seal a surface properly, and it results in damage or deterioration. A professional error or mistake could prove expensive without the right coverage. E&O insurance can help you protect your income and assets against liabilities related to errors on the job.
If you manage your painting business from an office or shop, you need property insurance to help cover damages to your building and its contents. This coverage can pay for the loss of inventory or damages to your building, signs, furniture, and equipment when they are stolen or damaged due to a covered event. Examples include high winds, vandalism, fire, and falling objects.
Employment Practices Liability Insurance
You are responsible for hiring and firing employees in ways that are void of discrimination or other wrongful practices. If an employee accuses you of wrongful termination, passing them over for a promotion due to gender or race, or of overlooking sexual harassment in the workplace, employment practices liability insurance can help protect you against the devastating costs of a lawsuit.
Equipment Breakdown Coverage
You rely on your equipment to stay on pace and carry out your job according to schedule. If your equipment breaks down unexpectedly, equipment breakdown coverage can help cover the expenses associated with repair or replacement, minimizing the financial loss to your business.
If your business is forced to shut down temporarily due to a covered reason, business interruption coverage can help cover your ongoing expenses in the absence of usual cashflow.
Your independent agent may recommend additional coverages and financial solutions for your business based on your unique needs. From cyber theft liability protection to coverage against employee dishonesty, we here at the Dave Mohr Agency are ready to assist with your commercial insurance needs.
When you choose us, you are choosing a local, independent agency that understands the risk of being a painter in the greater Phoenix area. Whether you are just starting or have been in business for years, contact our office today to learn more about painting contractors insurance, and to request your quote. We look forward to meeting you and serving your business soon.