As a painter in South Carolina, having proper insurance coverage is essential for protecting your business, meeting state requirements, and securing contracts. Whether you’re a sole proprietor or manage a larger painting company, this comprehensive guide breaks down the insurance coverage you need and what it typically costs, based on our analysis of actual quotes from leading carriers.
Brush away worries by reading our overview of painter business insurance.
General Liability Insurance for South Carolina Painters
General liability insurance protects painting businesses from third-party claims of property damage and bodily injury. Based on our analysis of actual quotes from leading carriers, here are the typical costs for South Carolina painters:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,900 | 1.9% | $1,100 | 62% |
| $500K | $7,100 | 1.4% | $2,800 | 61% |
| $1M | $15,500 | 1.6% | $5,900 | 62% |
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 South Carolina Painters
Worker’s compensation insurance is required for South Carolina painting contractors with 4 or more employees. Based on our analysis of current market rates:
- Average cost per employee: $2,970 annually
- Rate per $100K of payroll: $8,430
Key factors affecting premiums:
- Employee classification codes (primarily code 5474 for painters)
- Total annual payroll
- Claims history and safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Painters in South Carolina
Beyond general liability and workers’ compensation, South Carolina painters should consider:
1. Commercial Auto Insurance
- Required for business-owned vehicles
- Typical cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person/$300K per accident/$100K property damage
2. Tools & Equipment Coverage
- Protects painting equipment and tools
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Covers theft, damage, and loss during transport
3. Contractor’s E&O Insurance
- Covers claims related to faulty workmanship
- Annual premiums: $50-$500
- Policy limits: $10,000-$1M+
4. Commercial Property Insurance
- Protects offices, storage facilities, and paint inventory
- Annual premiums: $1,000-$5,000
- Coverage based on property value and location
5. Surety Bonds
- Bond amounts typically $5,000-$25,000
- Premium costs vary by credit score:
- Excellent credit: 1-2% of bond amount
- Good credit: 2-3% of bond amount
- Poor credit: 3-5% of bond amount
Get South Carolina Painter Liability with ContractorNerd
ContractorNerd specializes in making insurance simple and data-driven for South Carolina 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 helps 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
Contact ContractorNerd today to get tailored quotes for your South Carolina painting business.