Paperhanging Contractors Insurance Policy Information
Paperhanging Contractors Insurance. As a paperhanging contractor, your clients rely on you to beautify their interior spaces by applying decorative paper coverings on their walls. When your clients hire you, they expect you to get the job done right the first-time around, and they expect you to have it completely in a timely manner and for the price that you quoted them. While you love what you do and you're good at it, too, it's safe to say that you have a lot of demands on your shoulders.
Paperhanging and wallpaper contractors apply wall coverings to building interiors. They may be associated with either painting contractors or interior decorators and perform related services. Paperhangers may work on new construction or in connection with remodeling or renovation.
Operations generally involve surface preparation by stripping old coverings, cleaning the surface to be papered, applying sizing to the surface, cutting the wallpaper to the required size, applying adhesive to the wallpaper, applying the wallpaper to the surface, and cleaning up.
No matter how good you are and how much care you take to get the job done right, mishaps can occur at any time. For that reason, it's absolutely essential that you protect yourself from any fallout that you might face should the unexpected happen. How can you do that? - With the right type of paperhanging contractors insurance coverage.
Paperhanging contractors insurance protects your wall covering installation business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked paperhanging contractors insurance questions:
- How Much Does Paperhanging Contractor Insurance Cost?
- Why Do Paper Hangers Need Insurance?
- What Type of Insurance Do Paperhanging Contractors Need?
How Much Does Paperhanging Contractor Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small paperhanging contractors ranges from $47 to $59 per month based on location, size, payroll, sales and experience.
Why Do Paper Hangers Need Insurance?
Whether you own a small paper hanging business that specializes in specific types of decorative wall paper, you operate a large company that hangs all types of wall coverings for commercial and residential clients, or you own a retail store where your clients can browse through inventory and select the wall coverings they want, you need to invest in insurance.
Why? - Because there's no way to completely avoid the unexpected. Clients, vendors, or employees could suffer injuries on the premises of your commercial space; a customer could file a lawsuit against your business, claiming you damaged their property during an installation; a fire could break out in your business, damaging your retail space and all of the contents within it.
These types of situations cause more than just a headache; they cause serious financial hardships if you don't have the right type of insurance coverage. Without paperhanging contractors insurance, you would have to pay for any damages, medical expenses, legal defense fees - and more - out of your own pocket. Imagine how much you and your business would suffer if you had to pay for lawyers fees, medical bills, and repairs from your own wallet?
With the right insurance, however, you can avoid the financial turmoil because your carrier would help to cover these types of expenses. In other words, insurance safeguards you from financial devastation, which is exactly why it is one of the most important investments you can make for your paperhanging business.
What Type of Insurance Do Paperhanging Contractors Need?
The specific type of coverage that paperhanging contractors require depends on a variety of factors. The size or your company, your zip code, your clients, and the number of employees you hire are just some of the factors that will determine what policies you should invest in and how much coverage you should carry.
However, there are certain types of paperhanging contractors insurance coverage that all paperhangers contractors should invest in, no matter what the specific details of their business may be:
- Commercial General Liability - This type of insurance protects you from any third-party injuries or property damage claims that may be made against you. For instance, if a client claims that you damaged their property while you were providing a service, or a customer trips over a box of wallpaper at your retail space, commercial general liability insurance will help to cover the cost of any legal fees and damages that may arise.
- Commercial Property - Should your business be damaged in a storm or a fire, or should someone vandalize your store or steal anything within it, commercial property insurance will help to pay for the cost of repairing and/or replacing the damaged or stolen items. For instance, if your signage is vandalized, windows are broken, and equipment is stolen from your commercial space, commercial property insurance will help to pay for the damages.
- Workers Compensation - If you employ a crew of 100 people or you only have 2 staff members working for you, you're also going to need to invest in workers comp insurance. If an employee suffers an on-the-job injury or illness, the provider of this type of policy will cover the cost of any necessary medical care, as well as wages the employ loses while he or she is unable to work, and any lawsuits that may be filed against you.
Paperhangers Risks & Exposures
Premises liability exposures at the contractor's office are generally limited due to lack of public access. If there is a showroom, clients can slip or fall, or be injured by falling displays.
Off-site exposures are limited. Tools, supplies 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.
Products and completed operations liability exposures are low as improper installation is unlikely to cause extensive damage. Environmental impairment liability exposure is limited unless the paperhanger removes and disposes of lead-based paints.
Workers compensation exposures vary based on the size and nature of the job. Work with hand tools and sharp objects such as box cutters used to cut and trim wall coverings can result in cuts and piercings. Back injuries, hernias, sprains and strains can result from lifting, bending, or handling wallpaper at awkward angles.
Workers can experience lung, eye or skin irritations and reactions because of exposure to chemicals used to strip and clean surfaces and to adhesives used to apply wall coverings. When work is done on ladders and scaffolds, there is a potential for severe injury or death from falling or being struck by falling objects. Casual labor and high turnover may be a problem, especially in the preparation and cleanup work.
Property exposures are generally limited to an office and storage for supplies, tools and vehicles unless there is a showroom and stock held for sale. Wallpaper is susceptible to damage by fire, smoke, moisture, humidity and weather perils. Theft exposure is usually low.
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 paperhanger 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 rollers and other hand tools, or may include ladders or scaffolding. 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.
Commercial auto exposures are generally limited to transporting workers, equipment, and 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.
Commercial Insurance And Business Industry Classification
- SIC CODE: 1721 Painting and Paper Hanging
- NAICS CODE: 238320 Painting and Wall Covering Contractors
- Suggested ISO General Liability Code(s): 98344
- Suggested Workers Compensation Code(s): 5491
Description for 1721: Painting and Paper Hanging
Division C: Construction | Major Group 17: Construction Special Trade Contractors | Industry Group 172: Painting And Paper Hanging
1721 Painting and Paper Hanging: Special trade contractors primarily engaged in painting and paper hanging.
- Bridge painting-contractors
- Electrostatic painting on site (including of lockers and fixtures)
- House painting-contractors
- Painting of buildings and other structures, except roofs-contractors
- Paper hanging-contractors
- Ship painting-contractors
- Traffic lane painting-contractors
Paperhanging Contractors Insurance - The Bottom Line
You put a lot of effort, time, and money into your wall covering contracting business, and you do your very best to make sure you are providing your clients with the best services possible. However, sometimes, there's no way to avoid the unexpected - especially considering how litigious our society has become.
To protect your livelihood, it is absolutely essential for paperhangers to invest in the right type of paperhanging contractors insurance protection. To find out exactly what type of coverage you need and how much you should carry, speak to a commercial broker.
Types Of Small Business Insurance - Requirements & Regulations
Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.
Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.
Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.
Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.
Small Business Insurance Information
In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.
The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.
Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.
According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.
Types Of Small Business Insurance
Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:
- What type of business am I running?
- What are common risks associated with this industry?
- Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
- Does my state require me to carry this type of insurance?
- Does my lender or do any of my investors require me to carry this type of policy?
A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:
|Business Insurance Policy Type||What Is Covered?|
|General Liability Insurance||What is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.|
|Workers Compensation Insurance||What is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.|
|Product Liability Insurance||What is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.|
|Commercial Property Insurance||What is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.|
|Business Owners Policy (BOP)||What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.|
|Commercial Auto Insurance||What is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.|
|Commercial Umbrella Policies||What is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.|
|Liquor Liability Insurance||What is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.|
|Professional Liability (Errors & Omissions)||What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.|
|Surety Bond||What is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).|
Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.
Business Insurance Required by Law
If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.
Your insurance agent can help you check applicable state laws so you can bring your business into compliance.
Other Types Of Small Business Insurance
There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:
- Business Interruption Insurance
- Commercial Flood Insurance
- Contractor's Insurance
- Cyber Liability
- Data Breach
- Directors and Officers
- Employment Practices Liability
- Environmental or Pollution Liability
- Management Liability
- Sexual Misconduct Liability
Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.
Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.
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
- Builders Risk
- Building Cleaning & Maintenance Services
- Cabinet Installer
- Cable And Satellite TV Installer
- Chimney Sweep
- 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
- Garage Door Installer And Repair
- Glass Contractor
- Glazier Insurance
- Gutter Installation And Repair
- House Cleaning
- HVAC Contractor
- Insulation Contractor
- Janitorial Cleaning Services
- Lawn Care
- Lawn Irrigation Sprinkler System Installation
- 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.