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10-03-2006, 06:23 PM
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#1
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Registered User
Trade:
Painting
Join Date: Aug 2006
Posts: 16
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Liability Insurance
My partner and I have just started painting, and we initially thought that we wouldn't be doing any jobs over $2000, so we have yet to get our contractor's license, which basically just requires proof of some sort of liability insurance and an "affidavit of nonemployment" that says that we have no employees to pay worker's comp for.
Do you guys have liability insurance? How much do you pay for how much coverage and through what company?
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10-03-2006, 06:32 PM
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#2
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Professional Painter
Trade:
Owner/Operator
Join Date: May 2006
Location: Serving CT & RI
Posts: 1,306
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Quote:
Originally Posted by sgrprince
My partner and I have just started painting, and we initially thought that we wouldn't be doing any jobs over $2000, so we have yet to get our contractor's license, which basically just requires proof of some sort of liability insurance and an "affidavit of nonemployment" that says that we have no employees to pay worker's comp for.
Do you guys have liability insurance? How much do you pay for how much coverage and through what company?
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So, why havent you purchased insurance? I believe you can pocket $500 per job. Anything more you have to claim. At least that's the law here in CT. I dont have a contractors license and insurance because of how much money I make  , I have my license and insurance to be legitimate and for peace of mind::  ~
That being said, I have 'National Grange' for insurance. 1,000,000 coverage. I pay about $650 a year or so. My policy also includes $2000 tool coverage as well.
__________________
Rich
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10-03-2006, 07:23 PM
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#3
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Member
Trade:
Paint Contractor
Join Date: Sep 2006
Location: Miami, Florida
Posts: 92
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Quote:
Originally Posted by Paintguy26
So, why havent you purchased insurance? I believe you can pocket $500 per job. Anything more you have to claim. At least that's the law here in CT. I dont have a contractors license and insurance because of how much money I make , I have my license and insurance to be legitimate and for peace of mind:: ~
That being said, I have 'National Grange' for insurance. 1,000,000 coverage. I pay about $650 a year or so. My policy also includes $2000 tool coverage as well. |
Oh sh  t that is f ing cheap.  I have to move to you town. See you there...
Art
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10-03-2006, 07:36 PM
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#4
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Painting Contractor
Trade:
Painting Contractor
Join Date: Jul 2005
Location: Pekin, IL
Posts: 249
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I'm only payin a bit over 400$ for the same coverage. 
__________________
If love is blind, why do they make Lingerie?
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10-03-2006, 07:42 PM
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#5
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Professional Painter
Trade:
Owner/Operator
Join Date: May 2006
Location: Serving CT & RI
Posts: 1,306
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Quote:
Originally Posted by DelW
I'm only payin a bit over 400$ for the same coverage. |
I think 650 is good for CT. It's the richest/most expensive state in the nation=fact, not opinion....
That's why I'm moving back to Pa.....
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Rich
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10-03-2006, 07:44 PM
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#6
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Member
Trade:
Paint Contractor
Join Date: Sep 2006
Location: Miami, Florida
Posts: 92
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Quote:
Originally Posted by DelW
I'm only payin a bit over 400$ for the same coverage. |
Please don't make me
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10-04-2006, 02:11 PM
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#7
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Member
Trade:
Painting
Join Date: Jun 2006
Posts: 31
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Licensing in Texas
Hey does anybody know if you to have a license in Texas? Also, how would I find out more information about getting insurance?
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10-04-2006, 05:30 PM
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#8
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Pro
Trade:
Painting
Join Date: Aug 2006
Location: St. Louis, MO
Posts: 106
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Quote:
Originally Posted by kenrie
Hey does anybody know if you to have a license in Texas? Also, how would I find out more information about getting insurance?
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http://www.contractors-license.org/
Not for painting, at least not a contractor's license. It does say you have to register with the state. Your city/county might require a business license.
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10-04-2006, 09:24 PM
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#9
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Pro
Trade:
Builder/Remodeler- Master Electrician
Join Date: Nov 2005
Location: Crockett Texas
Posts: 1,358
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Quote:
Originally Posted by kenrie
Hey does anybody know if you to have a license in Texas? Also, how would I find out more information about getting insurance?
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No....Paint away..The State has yet to figure out a way to get money off of painters....but give them time and they will.
Call any Insurance agent. Some of my guys only pay $60 a month for insurance.
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10-04-2006, 10:08 PM
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#10
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Coating Specialist
Trade:
Wood Finishing & Restoration
Join Date: Jan 2006
Location: Cleveland, Ohio
Posts: 4
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Call Erie Ins.
I have $1,000,000.00 liability for less than 400.00 a year.
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10-05-2006, 11:12 PM
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#11
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Painting & Restoration
Trade:
Painting Contractor
Join Date: Apr 2006
Location: AKRON PENNSYLVANIA
Posts: 306
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Erie here also
$420 year $1 mil/ $2 mil agg
Robert
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10-06-2006, 04:11 PM
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#12
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Pro
Trade:
Wood Restoration/Refinishing
Join Date: Jun 2006
Location: Apex/Wilmington NC
Posts: 160
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erie also
340 for 600,000
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10-06-2006, 07:21 PM
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#13
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Remodeler
Trade:
Remodeler/Painter
Join Date: Apr 2006
Location: Buffalo, Ky
Posts: 225
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Quote:
Originally Posted by GoodPainter
Erie here also
$420 year $1 mil/ $2 mil agg
Robert
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Well i guess your getting it cheap mine is $1016 1 mil/2 mil agg but no deductables also covers my tools $18000 and rental tools to same
__________________
Damned if im gonna do it more than once.
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10-07-2006, 12:20 AM
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#14
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Painting & Restoration
Trade:
Painting Contractor
Join Date: Apr 2006
Location: AKRON PENNSYLVANIA
Posts: 306
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Quote:
Originally Posted by lxdollarsxl
Well i guess your getting it cheap mine is $1016 1 mil/2 mil agg but no deductables also covers my tools $18000 and rental tools to same |
Yeah Ive just started my biz so I didnt rush and get the tool coverage yet but it does cover rentals and i have $250 deductable for spraying operations only
Robert
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10-07-2006, 01:39 PM
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#15
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Registered User
Trade:
paint and wallpaper contractor
Join Date: Sep 2006
Posts: 3
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California
Quote:
Originally Posted by GoodPainter
Yeah Ive just started my biz so I didnt rush and get the tool coverage yet but it does cover rentals and i have $250 deductable for spraying operations only
Robert
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As I mentioned in a previous post, I pay close to $2000 a year to cover myself and my wife (part-time), who handles the wallpapering side of the business.
California insurance costs are insane!
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10-15-2006, 04:25 PM
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#16
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Registered User
Trade:
painting
Join Date: Oct 2006
Posts: 2
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$533 for 1M in RI (N. Grange). State requires 500K but the extra 500K costs next to nothing. Doesn't cover spraying though. That'll run you a grand to 1200.
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10-15-2006, 05:07 PM
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#17
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Painter
Trade:
Painter
Join Date: Apr 2006
Location: Toledo,Ohio
Posts: 606
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I pay 325 every six months (650 a year) here for my 1m coverage. I have been looking around though for a cheaper rate if there is one.
__________________
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