When working as a painter, you are going to be entering client’s properties and with this comes a risk. If there is any damage during the job, you need to make sure that your back is covered and that you won’t have to foot the bill.
Of course, most painters are extremely careful and take great pride in their work. However, there’s no denying that accidents can and do happen so having insurance is essential. But what kind of insurance do painters need?
Painters should have a selection of different covers including employer’s liability insurance, public liability insurance, property insurance and others.
In this article, we will be looking at the importance of having the correct insurance and what will be covered by each type. It’s important to keep in mind that some types of insurance, such as public liability insurance are optional whereas others are a legal requirement. So, when setting up your business, make sure that you have everything relevant in place before you start working.
Why Do Painters Need Insurance?
If you are running any kind of business, it’s a wise idea to have insurance as it will prevent you from being out of pocket in the case of accidents or errors.
More importantly, there are some types of insurance that you are legally required to take out. The most common one is employer’s liability insurance. This is needed if you employ anyone other than yourself. The only time that you do not need to take out an employer’s liability policy is if the person (or people) you are employing are directly related to you.
What’s even more imperative to keep in mind is that if you do not have this type of insurance then you risk incurring a fine; and it isn’t a small one. The maximum fine for not having employer’s liability insurance is £2500 per day.
However, even if you have employer’s liability insurance, you may still incur a fine if you do not display your certificate or have it to hand to show to an inspector when asked.
What Does Employer’s Liability Insurance Cover?
If someone you employ has an accident at work, the compensation they could potentially claim is massive. Even for very minor injuries, you could be looking at a five figure sum! But when you have employer’s liability insurance, it won’t be you that is out of pocket.
This type of insurance covers any accidents or injuries to employees while they are working. Employees may claim that their accident was a result of your business practises, equipment etc and while an investigation would have to take place, if their claims are found to be true, you are liable.
As well as accidents, your employer’s liability insurance also covers any events where employees have fallen ill as a result of the work they have done for you. For example, if someone develops a lung condition as a result of inhaling paint fumes when you have not supplied them with correct PPE.
What Other Types Of Insurance Might A Painter Need?
While employer’s liability insurance is a legal requirement, there are other optional policies you might consider taking out. It can be tempting to see these as ‘just another expense’ but in the event you need to make a claim, you’ll save a whole lot of money.
Public Liability Insurance
Surprisingly, public liability insurance is not a legal requirement but it’s definitely something we would urge you to consider.
This type of insurance covers any accidents or damage that occur to the public; most commonly for painters this means their clients. Examples of why a person might claim against you could be things like paint being spilled on a carpet, tools being left somewhere unsafe that results in an accident or if you accidentally break something belonging to a client.
The good thing about public liability insurance is that there are different levels of cover to choose from. Some businesses take out minimal cover while others take out policies that are worth millions. It all comes down to the size of your business, the type of clients you work with and any associated risks.
Property Insurance
Property insurance could be viewed in the same way as the contents insurance you take out on your home. It covers the replacement or repair of your tools, equipment and other materials in the event of damage or theft.
There are choices with property insurance as to whether your belongings are only covered within your business premises or whether they are covered in your vehicle as well.
It is important to keep in mind that any equipment used on site will not be covered by your property insurance. For this to be protected, you will need to take out what is known as contract works insurance. Not only will it cover the cost of repairing or replacing equipment both rented and owned but it will also cover the cost of accidents whilst using said equipment.
Personal Accident And Sickness Insurance
This is something that a lot of self employed people don’t think about until it is too late. This type of insurance will cover any loss of earnings due to accidents or sickness that lead to you being unable to work.
If you work for yourself, you will know that any time off comes at the cost of losing money so while this isn’t a legal requirement, it’s potentially one of the most important types of optional insurance there is.
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Conclusion
Painters are only required by law to have employer’s liability insurance which covers the costs of any accidents, injuries or illnesses suffered by their employees within the workplace. You do not need to take out this type of policy if you employ a direct family member.
However, there are other types of insurance policy that, while not a legal requirement, can be useful to your business and will save you money should anyone ever make a claim against you.
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