Paint and Wallpaper Stripping Service Insurance

How to Insure Paint and Wallpaper Stripping Service

Everything you need to know to insure your business

Removing wallpaper in house.  Find paint and wallpaper stripping insurance.

If you own a paint and wallpaper stripping service, clients look to you to safely remove the existing materials from their walls and prepare them for a newer look.

Like any business owner, you need the proper business insurance to protect your property, assets, and livelihood. An independent insurance agent can help you get the necessary paint and wallpaper stripping service insurance long before you need it. 

What Risks Do Paint and Wallpaper Stripping Services Face?

As a business owner who enters someone else's home or business in order to perform your work, you need comprehensive business insurance that covers anything that could happen to your equipment and business as well as against any potential lawsuits. 

For paint and wallpaper stripping services, the following events could negatively impact your business. 

  • Damaging customer property
  • Employee injuries
  • Property damage due to severe weather
  • An employee stealing your or a customer's property
  • Damage to your tools or equipment
  • Auto accidents in employee vehicles

Without proper insurance, all of these events could lead to hefty out-of-pocket expenses. 

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Basic Insurance Coverages for Paint and Wallpaper Stripping Service

Business insurance comprises several common coverages and specialized policies that you can add based on your business needs. Paint and wallpaper stripping services should start with the following basic coverage.

  • Commercial general liability (CGL) insurance: Protects you from liability claims made from third-party injury or property damage. CGL pays for medical bills, legal fees, settlements and judgments if you're sued.
  • Commercial property insurance: Pays for any damage to your buildings and other property due to events like fire, wind, theft, vandalism, smoke, and other named risks. 
  • Commercial auto insurance: Covers any vehicles that are used for business purposes with liability, property, collision, and comprehensive coverage in the event of an accident or other event. 
  • Workers’ compensation insurance: If you have multiple employees, the state you run your business in will require workers' compensation that pays for medical bills, lost wages, and salaries if an employee is injured or becomes ill on the job.

Additional Coverages Paint and Wallpaper Stripping Services Should Consider

While the above policies are a good starting place for businesses, because of the nature of paint and wallpaper stripping services, the following insurance options should be discussed with your insurance agent.

  • Environmental/pollution insurance: Pays for any damage or legal claims that arise from the release of pollutants. This coverage is particularly important for paint and wallpaper stripping services. 
  • Inland marine insurance: Protects your paint and wallpaper stripping tools, equipment, and materials while they're in transit to and from a job site. It will also protect your materials if they're on a job site for several days. 
  • Equipment breakdown insurance: Covers any damage or repairs that are required as a result of unexpected equipment breakdown. It will not cover general wear and tear. 
  • Professional liability insurance: Helps pay for any legal claims that arise as a result of a professional error or mistake where a customer claims you caused them financial loss or harm. 
  • Business interruption insurance: Reimburses you for any lost income if you have to temporarily stop your services due to covered perils like fire, theft, wind, hail, and the like. 

If your paint and wallpaper stripping service has an office space, it's worth considering flood insurance. Damage from flooding is excluded from commercial property coverage. 

Should You Consider a Business Owner's Policy?

For small to medium businesses, purchasing multiple insurance policies can get expensive. A business owner's policy is a specific type of policy that is designed for businesses that make less than $5 million a year. 

Under a business owner's policy, you receive liability, property, and business interruption coverage for a price that is more affordable than if you purchased each policy on its own. 

Businesses must meet specific requirements to qualify for a business owner's policy. Your agent can talk with you about whether this type of coverage would be a good choice. 

How Much Does Paint and Wallpaper Stripping Service Insurance Cost? 

Business insurance premiums are determined by a number of factors. The most important being the amount of coverage you need, the number of policies, and your deductible. 

In addition, insurance carriers will consider multiple things that help them calculate the likelihood that you'll file a claim. These include the following.

  • Location of your business
  • Type of work you perform
  • Number of employees
  • Local crime rates
  • Value of your business 
  • The types of tools and equipment you use

Fortunately, there are ways to save on your insurance, which an agent can help you do. 

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Benefits of an Independent Agent

Business insurance comes in all shapes and sizes and every business is unique. An independent insurance agent has experience working with paint and wallpaper stripping services as well as similar businesses in order to secure business insurance.

Agents work with you one-on-one to learn about your business and your needs. They will make recommendations on policies as well as the best insurance carriers to work with.

With your best interest in mind, an agent works for you and is dedicated to finding you affordable and comprehensive coverage.

Find and Compare Quotes for Paint and Wallpaper Stripping Service Insurance

Skip the time and energy it takes to shop online quotes and work with an independent insurance agent today. Agents already have an existing network of insurance carriers and can easily price shop business insurance for you.

An agent will speak with you, free of charge, and provide continual support for you and your business even after you've purchased a policy. Should you need to renew, update, change, or file a claim, an agent will be there to help you through the process. Let an agent help you find paint and wallpaper stripping service insurance today.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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