Cleaning business insurance coverage, is it necessary?
It's important to protect yourself and your clients with appropriate insurance coverage. Risking harm or convincing yourself that nothing will ever happen might be alright for Superman or Catwoman. But unless you're one of the masked wonders, it's prudent to yourself the question: What if?
What if any of the following incidents occurred:
• Lost keys
• Chemical Spills
• Accidental Fire
• Property damage
• Theft accusations – true or false
• Broken items or equipment
Stuff happens. See why putting into place a solid insurance policy for your cleaning service might be smart?
Basic insurance coverage should include liability, commercial vehicle coverage, workers compensation and equipment breakdown. Check with your insurance agent to see if you can get all of these services packaged together.
Business income interruption coverage.
What if you lost your biggest account due to a sudden natural disaster such as a tornado, hurricane, or earthquake? Your income could drop 20 – 50%. You need to be covered for such an occurrence.
Office equipment coverage.
To cover your computers, monitors, printers, fax machine, phones, etc.
Theft of customer coverage.
One would rather not think so, but it's possible that an employee may steal from your company, or be responsible when items go missing during their watch. The loss may not even be their fault, but still you need coverage in case theft occurs.
This will cover any harm to property occurring during the timeframe that you or your crew are on the premise. It could include impairment to carpet, walls, hardwood floors, furniture, machines, devices, curtains, doors, windows, etc. In any home or office, many things can be “bumped” into!
Rental property under your care. If you are cleaning rental properties, make sure they are specifically covered – do not assume they are.
Lost key coverage.
You or an employee loses a customer's key. Then what? All the locks will have to be changed immediately, which can be very costly.
Find out what service is available for employee benefits or coverage for lost work, injury or long term absence.
The first place to check for cleaning business insurance coverage is with your existing homeowners insurance company. Check to see if they offer small business coverage that will work for your cleaning service business.
Do some comparison shopping to get the best available coverage. It is not always best to aim only for the lowest price. The lowest price is often a result of the worst coverage. Do a search online to find out how customers feel about a particular insurance service. Search each cleaning business for opinions by the users of these insurance plans. Comparison-shopping is much easier since the internet.
One bad-luck incident could signal the end of your cleaning business, so make certain your coverage is thorough. Review your policy every year. Scour it for any suspect or “weasely” changes to the terms that you initially agreed to. Be vigilant. You don't want to be left without the proper coverage.
While scouring the plan itself, remember to treat your insurance agent as you would your local banker or your favorite kin, with kindness and generosity. Establish a good relationship. Insurance agents have a rough job and they can be crucial to your business.
Cleaning business insurance is an important aspect of your cleaning service, so make an informed decision when you choose your plan, so you can rest easy.