I am starting a paint contracting company, how much is insurance?
How much would workers comp and liability insurance cost on average if I had 4 workers that earn give or run 35,000 per year that would be painting interior and exterior??
Answers:
The percent of insurance on income/expense adjectives depend on the place and the insurance company concerned with which you are going to own it insured.
you should speak to an insurance agent within your area-maybe 3 or 4 and get quotes.
Talk to an agent about it.
It sounds approaching you already know the drill, here is what we ask for when quoting.
1-It's a new business, so yrs. of experience
2-Annual Payroll, not including owners
3-3 most recent job
4-New construction or Remodel?
5-Spray?
6-How much Liability?
7-Autos?
8-Tools (under $200 per item)
9- Equipment (over $200 per item)
Hope this helps, appropriate luck on your new activity!
If anyone gives you a dollar amount on here, don't believe it. There are too masses variables.
Call an independent insurance agent or broker in your nouns and ask them for a quote.
Assuming your gross receipts around $250,000, and not a soul is working over three stories tall . . . The workers comp on this should run you more or less $18,000 a year, and the GL around $12,000, varying geographically, of course.
These are WAG numbers (Wild A** Guess) pulled out of my hood, based on prior experience. You'll own to contact a local agent to get a REAL quote.