Painters Insurance New Hampshire Policy Information
Painters Insurance New Hampshire. Being a painter can be a lucrative profession, but like any small business, painting businesses need painters insurance New Hampshire, to fully protect their businesses. You worked hard to establish your company as a reputable painting business in NH, or perhaps you only recently started your business. Regardless of how long you'vet been in business, it makes a lot of business sense to protect your company, yourself and your assets, from the risks of the profession.
Painting contractors do interior and exterior painting of residential or commercial buildings, other structures, such as ships or bridges, street or parking lot striping, and signs. Equipment and supplies may include paints, stains, enamels, varnishes, special soundproof or waterproof substances, and insulation. Painters may perform work on new construction, in connection with ongoing maintenance, or during renovation.
Typically the work involves surface preparation (including removal of old wall coverings), application of the paint, finish work, and cleanup. The removal and disposal of lead-based paints from older buildings and structures presents a lead contamination exposure affecting liability, environmental, and workers compensation.
Unfortunate events such as a fall from scaffolding or a ladder or even a paint spill in a customer's home, can lead you on the path to a lawsuit. Our society is nothing if not litigious, and that means that smart business owners don't work without some sort of painters insurance New Hampshire in place. Even if you work on your own and have no employees, you are still subject to risks that can be mediated by a NH painter's insurance policy.
Painters insurance New Hampshire protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Types of Coverage Painters Must Have
All commercial painters should have some form of painters insurance New Hampshire in force at all times to protect their businesses, their employees, and themselves. Other businesses who stand to benefit from a NH painter's insurance policy, even if the business does not exclusively provide painting services include developers, remodelers, general contractors, handymen, and builders.
There are several types of insurance that NH painting businesses should consider, including:
- Liability insurance. This type of insurance protects you for claims arising from general liability or property damage.
- Worker's compensation insurance. Coverage of this nature provides employees with medical payments should they be injured or get sick due to a painting job related cause.
- Commercial auto insurance. Auto insurance policies for commercial use cover vehicles used in painting in NH. This coverage is often included in business insurance policies.
Business Owners Insurance and Liability Coverage
Many painting businesses opt for a business owner's policy, sometimes referred to by the acronym BOP. This is the primary insurance for the business and is designed for those businesses that have fewer than 100 workers and less than $5 million in annual revenue. A bundled policy, it puts your main property coverage and liability coverage under one umbrella, usually with a lower premium than you would pay if you purchased each type of coverage on its own.
Usually, business owner's policies include a mix of coverage options, including:
Property insurance coverage. This insurance covers damage or loss to the property, the business' inventory, and its equipment.
Bodily injury/property damage liability coverage. This type of coverage protects clients and others from damage or loss resulting from your actions or the actions of your employees, services, or products that you offer. It is invariably a good idea to purchase as much bodily injury/property damage liability coverage as you can afford to fully insure your business against potential claims.
Business interruption coverage. This important coverage pays for up to one year of lost revenue caused by an insured loss of property.
Commercial auto insurance. This insurance coverage protects the vehicles owned or leased by the business for business use.
Medical payment insurance. This coverage pays medical costs for people injured on property owned or leased by the business.
NH painting businesses can expect to pay premiums for these coverage types based on the amount of liability coverage desired by them or required by the state in which they conduct business. The number of workers employed by the business, the number of vehicles the business owns or leases, and the nature of the business also affect premium costs. For example, whether your business does interior or exterior painting or both may raise or lower your rates.
Worker's Compensation Coverage for Painting Businesses In NH
One important part of owning a business and hiring employees is complying with worker's compensation laws. You must generally purchase this type of insurance for workers on your payroll. It protects them from loss due to work-related illness, injury, or death.
New Hampshire requires worker's compensation for all employees that are not the painting business owners. Worker's compensation can help pay for medical expenses related to the injury or illness caused on the job.
NH Painting Contractor's Risks & Exposures
Premises liability exposures at the contractor's office are generally limited due to lack of public access. If there is a storage yard or shop operation, a fire can spread to neighboring businesses or homes. Controls in waste handling and fire control are important.
Outdoor storage may create vandalism and attractive nuisance hazards. Off-site exposures are extensive. Jobsite operations include the potential for bodily injury to members of the household, the public, or employees of other contractors, or damage to their property or completed work.
Tools, power cords, painting materials and scrap all pose trip hazards even when not in use. If there is work at heights, falling tools or supplies may cause bodily injury or property damage if dropped from ladders and scaffolding. Removal of old paint or wall coverings may involve scraping, chemical applications, or sandblasting which can damage other property of the client. The job may require the removal of old lead-based paint.
All exterior painting presents an over spray exposure which may damage surrounding premises, vehicles, or structures. All exterior spray painting or sandblasting operations need to be handled with great care. When interior work is done in buildings, ships, tanks, or other structures, ventilation is vital for the safety of clients, passersby, and the contractor's workers since fumes can cause severe bodily injury.
Environmental impairment liability exposures arise from the application or removal, transport, and disposal of paints, solvents, varnishes, and other chemicals. The removal, transportation and disposal of lead paint are particularly hazardous. Although the application of lead paint is now a controlled substance, it is still available and approved for specific commercial and industrial applications. The chips and dust generated during surface preparation present a significant hazard because ingested lead is associated with severe neurological and developmental disorders, especially in young children. Transportation and disposal procedures must adhere to all EPA and other regulatory standards. Training and supervision of employees are critical.
Workers compensation exposures vary based on the size and nature of the job. Caustics, paints and thinners generate fumes that can result in irritation to the eye, nose, throat, skin and lungs. Workers may be exposed to dust and chips containing lead. Back injury, hernia, sprains and strains can result from lifting. The use of power tools can result in cuts and burns. Casual labor and high turnover may be a problem, especially in the prep and cleanup work.
When work is done on ladders and scaffolds, there is a potential for injury from falling, being struck by falling objects, or adverse weather conditions. The absence of good maintenance of scaffolds, proper use of basic safety equipment, such as properly installed guards, steel-toed shoes, and eye protection, and strict enforcement of safety practices may indicate a morale hazard. The removal of old paint presents a serious exposure. Lack of a procedure to determine if the paint to be removed is lead based, or lack of procedures for safe clean-up and disposal of chips and the solvents used to remove lead, adds significantly to the loss potential.
Property exposures are generally limited to an office and storage for supplies, tools and vehicles. If there are shop operations, fire or explosion can result from the flammability of paints, varnishes and thinners or the use of dip tanks and/or spray booths. Spray booths should have explosion resistant lighting and be separated from combustibles. Poor housekeeping or improper storage or labeling of flammable, hazardous, or reactive substances significantly increases the inherent hazards.
Crime exposures are from employee dishonesty. Background checks, including criminal history, should be performed on all employees providing services to customers or handling money. All ordering, billing and disbursement should be handled as separate duties with reconciliations occurring regularly.
Inland marine exposures include accounts receivable if the painter offers credit to customers, contractors' equipment and tools, goods in transit, installation floater, and valuable papers and records for customers' and suppliers' information. The equipment may be limited to brushes, rollers and other hand tools, or there may be sprayers, ladders, scaffolding, cherry pickers, and similar equipment.
There may be rental, leasing or borrowing of specialized equipment. The transport of barrels of paint and other materials and equipment can be difficult; training in proper handling is essential. During installation, the materials are subject to loss or damage by fire, theft, contamination, damage by employees of other contractors, vandalism, and weather-related perils.
Business auto exposures are generally limited to transporting workers, equipment, and paints and other materials to and from job sites. MVRs must be run on a regular basis. Random drug and alcohol testing should be conducted. Vehicles must be well maintained with records kept in a central location. Hazards of transport include upsets or spills while hauling heavy containers of paint. Vehicles may have special modifications or built-in equipment such as lifts and hoists.
Who Need Painters Insurance California?
Finding the coverage you need to protect your business is as simple as speaking with one of our professional commercial insurance advisors who can help you determine your actual risks, tolerance of risk, assets that require protection, and coverage needed. After assessing your situation, a qualified and seasoned agent can help you determine which insurance package fits the bill for your NH painting business.
New Hampshire Economic Data, Regulations And Limits On Commercial Insurance
You have an entrepreneurial spirit and a great idea for a business, now you just need to decide on a location for your headquarters. Before you pick a location, it's important to take several factors into consideration and weigh your options.
If the area doesn't offer a market that the products and/or services you intend on offering will appeal to, and the overall economic climate isn't healthy enough to support a business, there's a good chance you aren't going to achieve the success you desire.
How can you determine where to set up shop? By assessing the economic trends of a location, as the economy of an area offers good insight about the potential for success. Additionally, you should consider the commercial insurance requirements of an geographic location so that you know what type of policies you'll need to have in place.
If you're thinking about starting a business in New Hampshire, read on for an overview of the state's economic trends and mandated commercial insurance policies.
Economic Trends For Business Owners In New Hampshire
As of December, 2019, the unemployment rate in the Granite State was 2.6%, which was 0.9% below the national average of 3.5%. This statistic indicates that the economy of New Hampshire is healthy, as there are enough job opportunities to support the residents of the state, and those employment opportunities directly reflect the health of businesses in the state.
Additionally, New Hampshire offers a diverse workforce that is comprised of individuals from varied backgrounds, so prospective business owners should have ample opportunities to secure employment for their organizations.
In addition to the low unemployment rate, the Granite State offers many other features that will appeal to business owners; low taxes, an above-average per capita personal income, and the close proximity to large regional markets, just to name a few.
While businesses of varying sizes and in various industries can find success in the state of New Hampshire, there are some sectors that show particular promise. The leading industries in the state are as follows:
- Bio Science and health care
- High-tech manufacturing
- Hospitality and tourism
The best locations for business owners within NH include metropolitan regions and the surrounding areas. This includes Portsmouth, Portland, Concord, Derry, and Londonderry.
Commercial Insurance Requirements In New Hampshire
The New Hampshire Insurance Department regulates insurance in NH. New Hampshire mandates very few forms of insurance coverage by law. They enforce worker's compensation.
New Hampshire requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
New Hampshire also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Contractors & Home Improvement Insurance
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
- Air Conditioning Systems Installation Repair
- Appliance Repair & Service
- Blacksmith & Metal Workers
- Boat Repair & Dry Docks
- Boiler Contractors
- Builders Risk
- Building Cleaning & Maintenance Services
- Cabinet Installer
- Cable And Satellite TV Installer
- Chimney Sweep
- Cistern Contractors
- Contractor Liability
- Curtain Cleaners
- Deck Builders
- Door And Window Installers
- Dryer Vent Cleaning
- Drywall Contractor
- Electrical Contractors
- Environmental Remediation Contractors
- Fence Installation
- Fire Sprinkler Contractors
- Fire & Water Restoration Contractors
- Flooring Contractor
- Furniture Repair
- Garage Door Installer And Repair
- General Contractors
- Glass Contractor
- Glazier Insurance
- Gutter Installation And Repair
- House Cleaning
- HVAC Contractor
- Insulation Contractor
- Janitorial Cleaning Services
- Lawn Care
- Lawn Irrigation Sprinkler System Installation
- Oil And Gas Well Drilling Contractors
- Paperhanging Contractors
- Plastering And Stucco Contractor
- Pressure Washing Contractors
- Propane And Fuel Dealers
- Rug, Upholstery & Carpet Cleaning
- Sandblasting Contractors
- Security Alarm
- Septic Tank Cleaning
- Siding Contractor
- Sign Installation & Repair
- Solar Panel Installers
- Snow Plow
- Stone And Tile Installer
- Surety Bonds
- Swimming Pool Contractor
- Swimming Pool Service And Maintenance
- Tool Grinding And Repair
- Tree Surgeon
- Tree Trimming
- Tank Cleaners
- Upholstery Shop
- Waste Haulers & Garbage Collection
- Water Well Drilling
- Welding Contractor
- Wildlife & Pest Control
- Window Cleaning
A contractor that wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Physical damage coverage for tools, supplies and equipment, both on and off the contractor's premises, is a concern. Liability exposures at the premises of the contractor, and at the premises of the contractor's customer, must be properly addressed along with completed operations. Business insurance is very important as is workers compensation insurance protection for employees.
Contractors may work under a general contractor as a subcontractor in larger construction projects - like a new commercial site or residential subdivision. They can work on smaller projects directly with a home owner, usually specializing in renovations or remodels.
In business insurance speak, often called 'artisan contractors' or 'casual contractors', they are involved in many aspects of construction and contracting work – and include various trades and skills. Carpenters, painters, plumbers, electricians, roofers, tree trimmers, landscaping are just a few examples. They may do roofing, fencing, drywall, tile work and many other trades that involve skilled work with tools at the customer's premises.
An artisan contractor performs a single trade or job, and each has its own specialized liability needs with its own exposures to risk and accidents. Contractors liability insurance can offer coverage for bodily injury, property damage, advertising injury and medical payments.
Most artisan contractors should have commercial general liability at the very least, but many need broader coverages - like an umbrella to increase their limits of liability, inland marine policy to protect their tools, workers compensation if they have employees, and even commercial auto if they use vehicles for business purposes.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.
Request a free painters Insurance New Hampshire quote in Allenstown, Alton, Amherst, Atkinson, Auburn, Barnstead, Barrington, Bedford, Belmont, Berlin, Boscawen, Bow, Brentwood, Brookline, Canaan, Candia, Charlestown, Chester, Claremont, Concord, Conway, Danville, Deerfield, Derry, Dover, Durham, Enfield, Epping, Epsom, Exeter, Farmington, Franklin, Fremont, Gilford, Goffstown, Greenland, Hampstead, Hampton, Hanover, Haverhill, Henniker, Hillsborough, Hinsdale, Hollis, Hooksett, Hopkinton, Hudson, Jaffrey, Keene, Kingston, Laconia, Lebanon, Lee, Litchfield, Littleton, Londonderry, Loudon, Manchester, Meredith, Merrimack, Milford, Milton, Moultonborough, Nashua, New Boston, New Ipswich, New London, Newmarket, Newport, Newton, North Hampton, Northfield, Northwood, Nottingham, Ossipee, Pelham, Pembroke, Peterborough, Pittsfield, Plaistow, Plymouth, Portsmouth, Raymond, Rindge, Rochester, Rye, Salem, Sandown, Seabrook, Somersworth, Strafford, Stratham, Swanzey, Wakefield, Walpole, Weare, Wilton, Winchester, Windham, Wolfeboro and all other NH cities & New Hampshire counties near me in The Granite State.
Also find New Hampshire insurance agents & brokers and learn about New Hampshire small business insurance requirements for general liability, business property, commercial auto & workers compensation including NH business insurance costs. Call us (603) 601-4771.