The right painter and decorator insurance protects against mishaps and accidents at work. After all, even the most careful painter or decorator could accidentally splash an expensive sofa or knock over a tin of paint onto a varnished wood floor. Accidents like these could prove costly without painting insurance.
Then there’s your equipment to consider. If your kit is stolen or broken and you don’t have adequate cover, you could find yourself out of pocket or, in some circumstances, unable to work. That’s why insurance for every painter and decorator is necessary.
What insurance does a painter or decorator need?
There are many different types of painter and decorator insurance. By far the most important is public liability insurance, which protects you by paying any legal fees should your work injure any members of the public or inflict damage to someone’s private property.
For example, if one of your customers tripped and fell over a toolbox or ladder and hurt themselves, or if paint dripped onto their favourite sofa and damaged it, you would need to compensate them financially. Public liability insurance would insure you against those claims.
Even though public liability insurance isn’t a requirement by law, having it is still a good idea. Legal and compensation costs can quickly spiral out of control and potentially bankrupt a business. Moreover, some clients will insist you have public liability policy before hiring you.
You will also need employers’ liability insurance if you’ve hired anyone to work for your painting or decorating business. This protects against the cost of compensation claims should an employee injure themselves or become ill at work.
What other types of insurance could a painter or decorator need?
Once your core painting business insurance is in place, you can then add additional cover to suit the needs of your business, such as:
- Business contents insurance – to protect your business against loss, theft, or accidental damage to any equipment you and your staff use.
- Stock insurance – to safeguard your paints and other items stored for future use (such as large quantities of paint for a significant commercial job).
- Van insurance – to ensure your business will stay operational if your van or business vehicle is damaged.
- Business interruption insurance – which compensates you and any workers you employ if your business cannot operate due to unforeseen circumstances.
- Home office insurance – to protect any office equipment you use for your painting or decorating business against damage, loss, and theft.
- Legal expenses insurance – to help pay legal costs in the event your business faces any legal claims.
To work out which additional insurance your painting business needs from the above list, it’s important to consider what risk level your specific business faces, how many staff your business employs, and the type and cost of equipment you use. The riskier your business and the more expensive your equipment, the more important painting insurance becomes.
Do self-employed painters or decorators need their own insurance?
It’s just as important for self-employed workers to have their insurance as it is for businesses, if not more so. After all, self-employed painters don’t have any of the key safeguards in place that those employed by businesses do, such as a guaranteed monthly salary, pension contributions, as well as paid annual and sick leave.
As such, self-employed painters would normally benefit from:
- Income interruption insurance – this replaces your income in the event you can’t work due to injury, illness, or some other unforeseen circumstance.
- Business life insurance – which gives your family a financial lifeline in the event you unexpectedly pass away.
Many self-employed painters and decorators would also benefit from some of the additional insurance policies outlined in the previous section as well.
What should a painter or decorator look for in an insurance provider?
The circumstances surrounding any insurance claim are almost universally stressful: an injury to yourself, for instance, or one of your workers or someone else’s property often causes considerable mental strain.
As such, your insurance provider must respond to your queries within a reasonable timeframe, tailor the insurance they offer to your specific needs, and be completely transparent about what your insurance does and does not protect against. The last thing you need after falling off a ladder is to be kept in the dark or on hold for hours on end.
How can Park Insurance help you?
Park Insurance is a specialist insurance company based in Bristol. Over 30 years, we have established ourselves as a customer-focused, forward-thinking insurance company.
Today, we manage some of the insurance industry’s leading websites, including Easy2Insure, Pet Secure, Salon Secure and Secure Underwriting. Thanks to high service standards and the experience of our staff, we have become one of the largest and most successful family-owned insurance brokers in the West Country.
If you are seeking advice or information regarding painting and decorating insurance, please get in touch with one of our experienced and professional team members.