Illinois Painting Contractor Insurance
At Frimark/Keller & Associates, we provide great Painting Contractor Insurance in Illinois. We have great Insurance Products to meet the needs of your Painting business.
Let’s say you are a residential painter. You get a job to renovate the interior of a house built in the 1950s. The job involves paint removal from interior walls, window trim and door jambs. During the renovation you put up a plastic barrier to seal the areas where you are working. The homeowners continue to occupy the house during these renovations. In addition, the wife is six months pregnant. Renovation was finished before the birth of the baby; however, upon birth, the baby tests positive for blood lead poisoning. After investigating the source of the lead, the couple sues you for bodily injury as well as potential loss of future wage potential (due to a possible decreased IQ level for the baby) in the amount of $500,000. Do you have the proper coverage?
Or let’s say you are an industrial painter who is working on the exterior of an energy plant on a windy day. While you are spray painting, twenty-three cars in the parking lot are damaged by over-spray. You incur $17,800 in property damage to the cars in the lot. Are you covered for this?
You’ve worked hard to get your painting business up and running. Or, maybe you have just started. Either way, you don’t want a paint spill or fall from a ladder to put your business at risk. No matter if you are a one-person operation or you run a large company with many employees, you need to make sure you have the proper painters’ insurance policy in place like these painters did.
There are a variety of types of Illinois painting contractors insurance policies that are designed to offer protection to the contractor for a range of risks associated with this profession, such as general liability, worker’s compensation, property insurance, commercial auto, and cyber liability.
The most basic of insurance policies for painters is a general liability policy. General liability offers protection from financial burdens as a result of bodily injury or property damage that can occur during a job. Say an employee knocks over a can of paint and it ruins the floor that was not properly covered by a drop cloth, the homeowner can sue you, and this is where general liability coverage would come into play.
Worker’s compensation insurance is required in the state of Illinois. This insurance covers medical and loss wages to an employee who was injured while conducting company business. This coverage also protects the painting business from being sued by the employee.
Property insurance is vital to a growing small business. As your business expands, you have to invest your profits in new tools, equipment and other capital goods. This insurance coverage covers your painting and other equipment (i.e. tools, air compressors, paint sprayers, etc.); inventory of house paint, wall paint and home decor supplies; your offices and buildings.
Commercial auto insurance is essential for Illinois painting contractors. You are always on the move, from working on a variety of residences and businesses to using your company vehicles to transport tools, machinery and materials. Commercial auto offers your painting business coverage for damages to the vehicle in an accident as well as vandalism and theft, along with bodily injury caused from an accident.