Painters Insurance New York Policy Information
Painters Insurance New York. Being a painter can be a lucrative profession, but like any small business, painting businesses need painters insurance New York, to fully protect their businesses. You worked hard to establish your company as a reputable painting business in NY, 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 York 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 NY painter's insurance policy.
Painters insurance New York 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 York in force at all times to protect their businesses, their employees, and themselves. Other businesses who stand to benefit from a NY 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 NY 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 NY. 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.
NY 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 NY
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 York 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.
NY 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 New York?
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 NY painting business.
New York Economic Data And Commercial Insurance Requirements
The State of New York is famed for industry, particularly Manhattan and the surrounding areas. As such, it's no wonder why so many entrepreneurs look to do business in this state.
If you are thinking about starting up a business in NY, it's important for you to have an understanding of the status of the state, regarding its economy. It's also important to know about the insurance requirements for business owners in the Empire state.
Below, we offer a brief overview of New York's economic status, as well as the types of insurance policies business owners are legally required to carry, and policies that they should consider investing in.
The Economic Status Of New York State
While the economy is growing in the State of New York, it is lagging behind other states, in terms of growth. Overall, more jobs have been added in this state in recent years. In 2018, it is expected that this trend in job growth will continue; however, it will likely be at a slower pace than previous years.
If you are thinking about doing business in the Empire State, one of the best industries to consider is finance. It is predicted that this sector will contribute largely to the economy in 2022, as well as in the coming years. Healthcare services and education are also expected to see growth, as are the transportation industry, and professional and business services.
Insurance Requirements For Business Owners In NY
The New York State Department of Financial Services regulates insurance in the Empire State. Organizations that employ a staff of part-time or full-time workers that are either hourly or salaried are required to carry workers' compensation insurance. This type of insurance is required, no matter what size your staff is; even if it only consists of one W2 salaried person. You must also carry NY commercial auto insurance if you are using a vehicle to conduct any business affairs.
While there are no mandates surrounding commercial liability insurance, business owners in New York would be wise to invest in this type of coverage. Should a client or a contractor sue you for an accident or injury that happens at your place of work, or if a client claims you damaged his or her property, commercial liability insurance will protect you from having to pay the cost of legal fees and any settlements that may be awarded out of your own pocket.
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.
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Borough Park, Bronx Park and Fordham, Brooklyn, Bushwick and Williamsburg, Canarsie and Flatlands, Central Brooklyn, Central Harlem, Central Queens, Chelsea and Clinton, East Harlem, East New York and New Lots, Flatbush, Gramercy Park and Murray Hill, Greenpoint, Greenwich Village and Soho, High Bridge and Morrisania, Hunts Point and Mott Haven, Inwood and Washington Heights, Jamaica, Kingsbridge and Riverdale, Lower East Side, Lower Manhattan, Manhattan, Mid-Island, North Queens, Northeast Bronx, Northeast Queens, Northwest Brooklyn, Northwest Queens, Port Richmond, Queens, Rockaways, South Shore, Southeast Bronx, Southeast Queens, Southern Brooklyn, Southwest Brooklyn, Southwest Queens, Stapleton and St. George, Staten Island, Sunset Park, Upper East Side, Upper West Side, West Central Queens, West Queens and all other NY cities & New York counties near me in The Empire State.
Also find NY local small businesses by General Liability Class Code and learn about New York small business insurance requirements for general liability, business property, commercial auto & workers compensation including NY business insurance costs. Call us (212) 235-2003.