As a painter in Wyoming, having proper insurance coverage is essential for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down the key insurance coverages Wyoming painters need, including costs based on our analysis of actual quotes from leading carriers.
Seal your business success by exploring our guide to professional painting company insurance coverages.
General Liability Insurance for Wyoming Painters
General liability insurance protects painting businesses from third-party claims of property damage and bodily injury. Based on our analysis of quotes from leading carriers, here are the typical costs for Wyoming painters:
| Revenue Size | Avg. Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $1,500 | 1.0% | $900 | 40% |
| $500K | $3,900 | 0.8% | $3,200 | 18% |
| $1M | $7,500 | 0.8% | $6,000 | 20% |
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 Wyoming Painters
Worker’s compensation insurance is mandatory for Wyoming painting contractors with employees. Based on our analysis, Wyoming painters typically pay:
Per Employee Cost: $1,512 annually
Per $100K Payroll: $3,480
Key factors affecting premiums:
- Employee classification codes (primarily code 5474 for painters)
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Painters in Wyoming
1. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Covers painting equipment and tools during transport and at job sites
2. Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person, $300K per accident
- Higher limits ($500K-$1M) recommended
3. Contractors’ E&O Insurance
- Annual premiums: $50-$500
- Policy limits: $10,000-$1M+
- Covers claims related to faulty work or negligence
4. Commercial Property Insurance
- Cost: $1,000-$5,000 annually
- Protects workshops, storage facilities, and offices
- Coverage based on property value and location
5. Surety Bonds
Typical bond premium ranges based on credit:
| Bond Amount | Excellent Credit | Good Credit | Bad Credit |
|---|---|---|---|
| $5,000 | $100-$150 | $150-$200 | $200-$400 |
| $10,000 | $100-$300 | $300-$500 | $500-$1,000 |
| $15,000 | $150-$400 | $400-$750 | $750-$1,500 |
Get Wyoming Painter Liability with ContractorNerd
ContractorNerd makes 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 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
- Manage certificates of insurance
Contact ContractorNerd today for tailored quotes and expert guidance on your painting insurance needs.