How Much Is Business Insurance
for Painters and Painting Businesses?

Exterior painting businesses need insurance for two reasons: you have to meet legal and contractual requirements, and you want to cover financial risks. In this guide, we'll go over the cost of painting insurance, when you need it, and how it can protect you from the devastating costs of lawsuits.

The exact costs of your painting insurance will depend on the specifics of your business, but we've compiled some estimates that are based on the typical annual insurance premiums that other painting companies pay.

Note: the insurance premiums listed below are only estimates. Your painting insurance costs may vary.

HOW MUCH IS
General Liability Insurance?

How Much Is General Liability Insurance?

A painting business faces risks every day that could lead to lawsuits. What happens if you damage a client's walls while painting them? What happens if a client's child decides to play on your ladder and breaks her arm? These risks – customer property damage and injury lawsuits – can be covered with General Liability Insurance for painters. When a client sues you for these issues, General Liability Insurance can pay for your lawyers, court costs, and damages you owe the client, up to your policy's limits.

General Liability Insurance for exterior painters typically costs $403 to $828.

Average Premiums, Deductibles and Limits on General Liability Insurance Policies for Painters
Name USD

Median policy premium:

$403 - $828

Per-claim limit:

$1,000,000

Policy limit:

$2,000,000

Median policy deductible:

$500

To see how the cost of General Liability Insurance for painters compares with other industries, visit Insureon's General Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a Surety Bond?

How Much Is a Surety Bond / License and Permit Bond?

Painting businesses might need a License and Permit Bond in order to meet state requirements for a contractor's license, building permit, or other official licensure. Local governments often require surety bonds from contractors because they want a financial guarantee that you'll follow building codes and other regulations. Check your local laws to see if you need to get bonded.

A License and Permit Bond for painters typically starts at $100.

Average Premiums and Limits on Surety Bonds for Painters
Name USD

Median policy premium:

$100

Median policy limit:

Varies

Median policy deductible:

Varies

HOW MUCH IS
Inland Marine Insurance?

How Much Is Inland Marine Insurance?

Inland Marine Insurance covers painting equipment, supplies, and other business property while it's being transported to and from a job. Property Insurance usually only covers a painter's equipment while it's stored at their office. So Inland Marine Insurance offers important coverage to businesses who keep their tools and equipment in their truck. To cover your equipment while it's in transit, you'll need an Inland Marine Insurance policy.

Inland Marine Insurance for painters typically starts at $350 in annual premiums.

Average Premiums, Deductibles and Limits on Inland Marine Insurance Policies for Painters
Name USD

Median policy premium:

$350

Median policy limit:

Varies

Median policy deductible:

None

HOW MUCH IS
Umbrella Insurance?

How Much Is Umbrella Insurance?

What happens if a lawsuit costs more than what your General Liability, Workers' Comp, or Auto Insurance will cover? Umbrella Insurance (also called Excess Liability Insurance) can pay for additional expenses in increments of $1 million. Say you're sued for $1 million in a personal injury lawsuit. You owe $1 million in damages, but your lawyers' fees cost another $100,000. If your GL only covers $1 million, Umbrella Insurance can cover the remaining $100,000.

Umbrella Insurance typically starts at $400 for exterior painting companies.

Average Premiums, Deductibles and Limits on Umbrella Insurance Policies for Painters
Name USD

Median policy premium:

$400

Median policy limit:

$1,000,000

Median policy deductible:

Varies

To see how the cost of Umbrella Insurance for painters compares with other industries, visit Insureon's Umbrella Insurance Cost Analysis New browser window icon..

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