If you’re a painting company that regularly gets business handling painting in residential houses and commercial buildings, then you need to have insurance. Painters insurance will protect you and your business so that you can focus on doing your job right.
There’s a myriad of things that you as a painter, engage in through your line of work, which can expose you to certain risks. For example, some of your services could include removing old wallpapers from very high walls or getting rid of lead-based paints, all of which pose a certain danger to your well-being.
There’s also the fact that your painting business, whether big or small, can face legal ramifications if a client decides to sue for property damage, paint spills, and injuries accrued from a slip and fall accident. Visit the site to learn more about the painter’s insurance.
Here is a list of more compelling reasons as to why all painting companies need to have insurance.
1. Insurance Will Protect Your Business
Imagine a scenario where you’ve attracted a lucrative painting contract in an affluent part of town. As you go about your work painting, but your client suddenly trips over your paint cans and hurts their wrist.
If you have a general liability insurance cover, your policy should help you cover the medical costs for your business. If not, rest assured if your client decides to sue, that money is coming right out of your pocket and sometimes it might cost you as much as your savings.
The same goes for if you damage your client’s property. But with proper insurance cover, you can protect yourself and your business against claims involving bodily injuries and property damage.
2. Your State of Resident Might Need You to Have Insurance Coverage
Even though laws regarding insurance vary by state, almost all states have made it mandatory for contractors to have some kind of insurance, usually workers’ compensation cover and general liability insurance cover.
As mentioned above, the general liability insurance coverage will protect your business from lawsuits and claims from accidents that happened while on site.
A workers’ compensation coverage, on the other hand, will cover your employees’ medical costs from accidents that resulted while the employee was working for you. It will also pay compensation to the employee if they incur some disability that will prevent them from working.
3. Get More Jobs
A painting business with insurance will set itself up as a highly professional enterprise. This will make your company appear more attractive when bidding for a job.
Clients don’t want to be held liable in case a painter gets hurt while working on their premises and will thus look to work with companies that have insurance. Clients also want to be sure that they’ll be assured of compensation in case they get hurt as a result of the painter’s negligence or their property gets damaged during the painting project.
Paint a Good Picture for Your Business
Painters insurance may seem expensive at first, especially if you’re a small painting business or an independent painter. However, all it takes is one small accident to get you out of business.