As a painter in Colorado, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down essential insurance coverages Colorado painters need, including costs based on our analysis of actual quotes from leading carriers.
Get the primer on success with our overview of painting company insurance.
General Liability Insurance for Colorado Painters
General liability insurance protects your painting business from third-party claims of property damage and bodily injury. Based on our analysis of painter quotes, here are the typical costs for Colorado painters:
Average Annual Premiums by Revenue Size
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,000 | 1.3% | $1,500 | 25% |
| $500K | $4,900 | 1.0% | $2,600 | 47% |
| $1M | $9,300 | 0.9% | $4,000 | 57% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Typical mix of residential and commercial work
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Colorado Painters
Worker’s compensation insurance is required for Colorado painters with employees. Based on our analysis, Colorado painters typically pay around $1,837 per employee annually for workers’ compensation coverage.
For Colorado painters, typical workers’ compensation costs per $100,000 of payroll average $4,600. Key factors affecting premiums include:
- Employee classification codes
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Painters in Colorado
Beyond general liability and workers’ compensation, Colorado painters should consider:
1. Tools & Equipment Coverage
- Protects painting equipment and tools
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Coverage for theft, damage, and loss
2. Commercial Auto Insurance
- Required for business vehicles
- Premiums: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person/$300K per accident
- Higher limits recommended ($500K-$1M)
3. Contractor’s E&O Insurance
- Covers faulty workmanship claims
- Annual premiums: $50-$500
- Policy limits: $10,000-$1M+
- Professional negligence protection
4. Commercial Property Insurance
- Protects facilities and inventory
- Annual premiums: $1,000-$5,000
- Coverage based on property value
- Protection against fire, theft, vandalism
5. Business Owner’s Policy (BOP)
- Combines general liability and property coverage
- Often more cost-effective than separate policies
- Customizable for painting businesses
- Additional coverage options available
Get Colorado Painter Liability with ContractorNerd
ContractorNerd specializes in making insurance simple and data-driven for Colorado painters. Our platform offers:
- Instant online quotes from top-rated carriers
- Side-by-side coverage comparisons
- Painter-specific expertise and guidance
- Streamlined application process
- Ongoing policy management support
- Claims advocacy when needed
Our team of painting insurance specialists understands Colorado’s unique requirements and can help you:
- Optimize coverage levels based on your specific risks
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with state regulations
To get started with tailored quotes for your Colorado painting business, visit our online quote tool or speak with one of our painting insurance specialists today.