Choosing to be a self-employed painter can be a rewarding career if you spread the word in your community about your skills. But like any other type of self-employment, you need to consider the risks involved that you can counter with insurance. Here’s what you should know about seeking business insurance for a self-employed painter career.
Public Liability Insurance
One of the risks involved with painting is damage to the public. You need insurance that shields you from personal liability if something goes wrong, like tripping over a ladder and spilling paint. Since painting can be tiring work over many hours, there’s a potential for fatigue-related accidents.
Someone from the public who is injured from your work or equipment can sue your business for physical or emotional harm and financial loss. Many commercial organizations avoid hiring contractors without proper insurance to cover public mishaps.
Public liability insurance covers your business while working on a client’s home or commercial property. It covers accidents from products or services that harm customers. Since it’s possible to be sued for five figures when a paint job harms others, you should pay close attention to how risks relate to coverage limits.
Another type of business insurance for a self-employed painter is commercial property insurance. Just like for a home, the insurance will pay for damage caused by natural disasters and theft or vandalism. It’s essential to protect your investment in paint, equipment, and supplies to maintain a stable operation.
Contract Works Insurance
Another type of coverage you should consider as a painter is Contractors All Risk insurance. This coverage also pays for injuries to others and equipment damage. Ultimately, it pays all legal costs if you are sued by a customer or third party.
Personal Accident and Sickness Insurance
You will need coverage when you cannot work due to an accident or illness. This policy should pay for doctor visits and living expenses while you are away from work.
Employer’s Liability Insurance
States mandate workers’ compensation to protect employees who are injured or become ill on the job. You must meet your state’s minimum coverage requirements or face heavy fines. This coverage is essential if you hire any employees.
What Insurance Policies Should Self-Employed Painters Prioritize?
Your insurance policy for your painting business should reflect the type of work you do, where you do it, and how often. The more risks involved, such as driving long distances, you’ll need more coverage. Be aware that you must revisit your insurance priorities at least every year.
Get Painters Insurance Today with CAV Insurance
Securing the appropriate business insurance is crucial for self-employed painters to safeguard against potential hurdles. Contact us for comprehensive insights on how CAV Insurance Agency Inc. can guarantee tailored coverage, effectively shielding your services. Your business will be protected from uncertainties, ensuring peace of mind and unhindered operations.