As a painting contractor in Indiana, having proper insurance coverage is essential for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down the insurance coverages Indiana painters need, including costs based on our analysis of actual quotes from leading carriers.
Cover every detail by exploring our overview of painting company coverage.
General Liability Insurance for Indiana Painters
Based on our analysis of painter insurance quotes from leading carriers, here are the typical costs for Indiana painters:
| Revenue | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $1,900 | 1.3% | $1,400 | 26% |
| $500K | $5,000 | 1.0% | $2,700 | 46% |
| $1M | $9,700 | 1.0% | $4,200 | 57% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Mix of residential and commercial painting work
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Indiana Painters
Worker’s compensation insurance is mandatory for Indiana painters with employees. Based on our analysis, Indiana painters typically pay:
- $1,019 per employee annually
- $2,600 per $100,000 of payroll
Key factors affecting premiums:
- Employee classification codes (primarily code 5474 for painters)
- Annual payroll amounts
- Claims history and safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Painters in Indiana
1. Commercial Auto Insurance
- Annual premiums: $1,500-$3,050 per vehicle
- Standard limits: $100K per person, $300K per accident
- Higher limits recommended ($500K-$1M)
- Essential for business-owned vehicles
2. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Protects painting equipment during transport and at job sites
- Coverage for theft, damage, and loss
3. Contractor’s E&O Insurance
- Annual premiums: $50-$500
- Policy limits: $10,000-$1M+
- Covers faulty workmanship claims
- Includes professional negligence protection
4. Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Protects warehouses, shops, and offices
- Covers paint inventory and supplies
- Protection against fire, theft, and weather damage
5. Business Owner’s Policy (BOP)
- Combines general liability and property coverage
- Often more cost-effective than separate policies
- Customizable for painting contractors
- Includes business interruption coverage
Get Indiana Painter Liability with ContractorNerd
ContractorNerd’s experts make painter insurance simple and data-driven through:
- 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 contractor insurance specialists can help you:
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with Indiana regulations
- Optimize coverage for your specific risks
Visit our online quote tool or speak with a painting contractor insurance specialist today to get started.