How much does business insurance cost for painters?
Painter insurance costs depend on the type of insurance, policy limits, deductibles, and factors such as your business's location and number of employees. Save money on business insurance by comparing quotes from different providers with Insureon.
Top painter insurance policies and their cost
Here are the top painting business insurance policies and their average monthly cost:
- General liability insurance: $72 per month
- Business owner's policy (BOP): $109 per month
- Workers' compensation insurance: $190 per month
- Inland marine insurance: $42 per month
- Commercial auto insurance: $295 per month
- Professional liability insurance: $67 per month
- Commercial umbrella insurance: $79 per month
- Surety bonds: $9 per month
Our figures are sourced from the median cost of policies for painters who apply for quotes with Insureon. The median offers a better estimate of what your business is likely to pay because it excludes outlier high and low premiums.
General liability insurance
From sign painting to paperhanging and house painting, painters pay an average of $72 per month, or $862 annually, for general liability insurance. You may need proof of insurance for this policy to sign a commercial lease or a client contract.
Liability insurance for painters can help pay for medical expenses from accidents, such as a customer who trips over your ladder and suffers an injury. It can also cover costs if someone sues your business over a bodily injury, property damage, or advertising injury.
This is the average policy for painting contractors who buy from Insureon:
Premium: $72 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500
The cost of a general liability insurance policy depends on factors such as the coverage limits you choose, the size of your business, the amount of foot traffic you have, and any subcontractors or additional insured endorsements.
Learn more about how your premium is calculated and how to save money on your general liability policy.
Business owner's policy
Painting businesses and contractors pay an average of $109 per month for a business owner's policy, or $1,313 annually. Only small, low-risk businesses are eligible for a BOP.
A business owner's policy bundles two important types of coverage at a discount. It includes general liability coverage to protect against common lawsuits and commercial property insurance to cover theft, vandalism, and damage to business property.
This is the average business owner's policy for painters who buy from Insureon:
Premium: $109 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500
The cost of a business owner's policy depends on factors such as the insurance options you choose, your business size, foot traffic, and the value of your business property.
Workers’ compensation insurance
Painting businesses pay an average of $190 per month for workers’ compensation insurance, or $2,279 annually.
Workers' comp helps pay for medical costs from work-related injuries and illnesses. Most policies include employer's liability insurance, which covers the cost of lawsuits related to workplace injuries.
There's usually no limit to how much a workers' comp policy can pay for employee benefits, though it depends on state laws.
The cost of workers' compensation insurance depends on factors such as the number of employees you have and the type of work they do. Learn more about how workers' comp costs are calculated and how to save money on your policy.
Inland marine insurance
Painters and other contractors pay an average of $42 per month for inland marine insurance, or $505 annually.
Also called tools and equipment insurance, this policy covers business property whether it’s in transit, at a jobsite, or stored off-site. It provides financial reimbursement for lost, stolen, or damaged tools and equipment, such as ladders, brushes, rollers, drop cloths, and gloves.
The cost of inland marine coverage depends on your property's value and the type of work you do. Items valued at over $2,500 may need to be scheduled separately on the policy.
Commercial auto insurance
Businesses and contractors that do residential and commercial painting pay an average of $295 per month, or $3,539 annually, for commercial auto insurance.
Most states require this coverage for vehicles owned by a painting company. For self-employed painters and other small painting businesses that use personal, rented, and leased vehicles for work-related purposes, look to hired and non-owned auto (HNOA) insurance instead.
Commercial auto insurance provides financial protection in the event of an accident involving your business vehicle. It can help pay for property damage, medical bills, and legal costs. When buying a policy, you'll need to make sure your coverage limits match the requirements in your state.
The cost of a commercial auto policy depends on the coverage options you choose, the value of the vehicle, and your insurance claims history. Learn how insurers calculate your premium and how to save money on your commercial auto policy.
Professional liability insurance
Painters and construction businesses pay an average of $67 per month, or $808 annually, for professional liability insurance. Painters can often bundle this policy with general liability insurance for a discount, at a combined average of $150 monthly.
This painter's liability insurance covers legal fees related to professional negligence, such as an accusation that you failed to use the correct kind of paint. It's sometimes referred to as errors and omissions insurance (E&O).
This is the average professional liability policy for contractors who buy from Insureon:
Premium: $67 per month
Policy limits: $1 million per occurrence; $1 million aggregate
Deductible: $1,000
The cost of professional liability insurance depends on factors such as the coverage limits you choose, the size of your business, and your profession. Find out how insurers set professional liability premiums and how to save money on your policy.
Commercial umbrella insurance
Painting businesses pay an average of $79 per month, or $947 annually, for commercial umbrella insurance. You can buy this policy to boost the limits of your underlying general liability, commercial auto, or employer's liability insurance.
If the underlying policy reaches its limit, commercial umbrella insurance will activate to cover costs up to the limit of your umbrella insurance.
The cost of commercial umbrella insurance depends primarily on the amount of coverage you purchase.
Surety bonds
Construction contractors and businesses pay an average of $9 per month, or $112 annually, for a surety bond. The cost varies widely depending on the type of bond and its size.
A surety bond reimburses your client if you're unable to fulfill the terms of a contract or other agreement. You may need a surety bond to get a license or permit for certain types of work. For example, contractors in California need a bond to get a painting license, which lets them take on projects valued at over $1,000 in labor and materials.
The cost of a surety bond primarily depends on the size of the bond, as the premium is a small percentage of the total bond amount.
Key factors influencing policy costs
Here are some of the top factors that determine insurance premiums for painters during the underwriting process:
- Types of coverage purchased. It costs more to buy protection against a wide range of risks than basic insurance coverage.
- Services offered. A painter who does small residential projects can expect lower insurance rates than a painter who takes on large, high-risk commercial projects.
- Business property and equipment. Expect to pay more to insure a large office or expensive paint sprayers than simple brushes, rollers, and a small office space. Working on ladders and lifts may also increase your premiums.
- Number of employees. A larger workforce brings a higher risk of employee accidents and mistakes, which raises the cost of workers' comp, general liability, and similar policies.
- Years of experience. Painting contractors with more experience working in the field tend to pay lower premiums than newer businesses due to lower associated risks.
- Annual revenue. Increased business revenue is associated with higher risks and more frequent claims, which raises insurance costs.
- Policy limits and deductibles. Policies with higher limits cost more but cover more expensive claims. Choosing a higher deductible can lower your premium, but your insurance won't activate until you pay the full amount.
- Claims history. It costs more to insure a painting business that has filed an insurance claim in the past than one that has a clean history of claims.
- Location. Regional factors such as crime rates, population density, and property values affect how much you pay for business insurance.
How do I get painting business insurance?
Insureon can help you find affordable painting insurance coverage in three easy steps:
- Fill out a free online application with details about your business.
- Compare custom quotes from top-rated U.S. insurance providers.
- Select a policy and pay the premium to begin coverage.
Our licensed agents will help make sure your insurance matches your business risks, budget, and state requirements. Once you've bought a policy, you can download a certificate of insurance (COI) for proof of coverage. Most small businesses can get covered within minutes of applying for quotes.
What our customers are saying
The average costs on this page were derived from our data on small business owners in the painting field who purchased policies through Insureon. Most of our customers have less than five employees, annual revenue ranging from around $50,000 to more than $200,000, and five years or less in business.
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