Massachusetts Painters Insurance
Skilled painters are in high demand these days by business and home owners who are looking for quality and efficiency in the finished product. You have worked considerably hard to get your painting business off the ground, or perhaps you are just getting your company started. Regardless, you do not want an employee injured in a fall from scaffolding, a messy paint spill or some other unforeseen disaster putting your entire business at risk.
One painting company was hired by homeowner who wanted their trim painted with semi-gloss paint. The end result had a number of visible nail holes and drips. When the homeowner say the first coat applied, they stopped the painter and asked that the issues be fixed. They were told that the paint had issues with running and the filler shrank, but finished product would look great.
After a coat of primer and two coats of paint, the trim looked terrible. A new painter had to be hired to repair the unfavorable work, so the homeowner decided to take legal action to cover their costs.
Fortunately, the painting contractor was protected with proper Painters Insurance. This means that they were able to settle and make their client happy, without having to pay out of pocket.
It does not matter if you are running a single person operation or you have a large organization with several employees. It is important to make certain that you and your business have the full protection of the best Painting Contractors Insurance policy you can find in the state of Massachusetts.
Most Important Types Of Painters Insurance Coverage
There are three crucial types of coverage that every painting business owner will need to include in their policy. These coverages are liability insurance, workers compensation and commercial auto insurance.
Perhaps the most important of the three coverage types, Liability Insurance will provide you with protection against claims of property damage, general liability claims and other potential risks. You will be covered against the cost of medical payments, property damage repairs or replacements as well as the associated legal expenses if the claims ends up in court.
Workers Compensation will provide financial support for medical expenses and other related costs for employees who are injured, killed or become ill due to a job-related cause. In addition, if an employee is unable to return to work for some time, they will also receive compensation for the lost income.
Commercial Auto Insurance covers any trucks, vans or cars that are used by your painting company for business purposes. Many painters who are the sole workers of their organization use their personal vehicle to travel to and from job sites and haul their supplies, tools and other necessities. They mistakenly believe that their personal Auto Insurance will protect them. This is usually not the case because personal coverage does not provide adequate protection and typically excludes coverage for incidents that take place while the vehicle is being used for business purposes.
The main part of a Painting Contractors Insurance policy is typically the business owners policy, often referred to as BOP. This coverage is designed especially for small businesses like yours. The primary liability and property coverage is bundled together in this policy. The advantage of choosing a business owners policy is that you will pay a lower premium rate than if you were to purchase all of the necessary coverage types separately.
A business owners policy offered by Allan M. Walker Insurance Agency will usually be made up of the follow types of coverage:
- Business interruption insurance - If you suffer a property loss due to a covered incident and you are unable to perform work for some time, this coverage will provide you with up to a year of the income lost.
- Commercial Auto Insurance - This coverage protect the vehicles that are purchased or rented for your business purposes.
- Medical payment coverage - This type of insurance will cover injuries that are sustained by others on the property that your company rents or owns.
- Property damage and bodily injury liability insurance - This coverage will protect you and your company against damages that you, your services, your products or your employees cause to third-parties or their property. It is important to note that you may also be able to purchase a separate painters liability insurance policy. It may be in your best interest to increase this type of coverage or invest in an umbrella insurance policy that will provide you with additional liability coverage to make certain you will be fully protected against all claims of liability.
- Property damage insurance - You will need this type of insurance to cover any damages to the equipment and other property that is owned by your painting company.
The right Painting Contractors Insurance policy is the only way to make certain you are fully protected against the numerous risks that are associated with the industry. You need the right agent to help you find the ideal coverage. Click on the quote request button now for your risk free quote on an insurance package that is tailored to meet your exact coverage needs.