Protect Your Cleaning Business With the Proper Insurance
Too many companies don't think about their insurance policies
and what they cover until after something happens -- and unless
you have prepared ahead of time, that something might not be
covered in your policy. The following are just a few of the
things that can occur: lost keys, chemical spills, employee
theft, damaged equipment and broken items. The proper insurance
coverage can play an important part in keeping your risks to a
minimum.
The basic business insurance normally includes general liability
insurance, commercial auto coverage, workers' compensation and
equipment breakdown. These may be all combined into a package
policy, but you need to check with your agent to make sure you
have coverage in these four areas. Besides the coverage listed
above, the janitorial service industry has risks unique to it
and you should make sure that you are covered for the following:
*Lost key coverage. This should pay to replace lost keys, adjust
locks, or purchase and install new locks.
*Coverage for property in your care. This may include rental
property, such as carpet cleaning or floor care machines.
*Theft of customer property coverage. This should cover losses
incurred for theft and losses that occur from negligence, such
as an employee who forgets to lock a building and allows a thief
to steal your customer's valuables.
*Limited pollution coverage. As a cleaning company your
employees will most likely be working with an assortment of
chemicals. You need to have coverage for accidental job site
pollution that may arise from chemical spills.
*Business income coverage. If your biggest customer went out of
business and your main source of income dried up, could you stay
afloat until you had a chance to sign on new clients?
*Office equipment coverage. Check your policy to make sure you
have enough coverage for your computers and office equipment. If
you have a home-based business you might be able to get a rider
attached to your homeowner's insurance policy.
How do you choose an insurance carrier? To make sure that you
get the proper insurance and the right types of coverage you
should look for an agent that has experience working with
businesses that provide janitorial services. Remember, the more
your insurance agent knows about your business, the more
confident you can be that he or she will provide a comprehensive
program that meets your needs.
Look for a company that is financially strong and stable. It is
also important to know that the company has a solid history of
paying claims in a timely manner. Once you have an agent that
understands your company's needs you should consider buying all
of your business insurance policies through one company. This
saves on paperwork and you are more likely to make sure that all
of your various coverages work together.
Once you have your policies in place don't forgot about your
insurance. Keep your agent informed of any changes in your
business, i.e., new business location, new vehicles, etc. Also,
make an inventory of all of your property; keep one copy at the
business and one copy of the inventory off-site. Provide a good
safety training program to your employees to reduce the
likelihood of accidents and injuries.
Any one incident that happens could cause serious problems for
your business and without the proper insurance coverage, could
put you out of business. Taking time before something happens is
vital to make sure that your business will survive if a
catastrophe happens. Getting suitable insurance for your
cleaning company can be a complex and confusing task. But having
the proper insurance coverage for your company is something you
can't afford to be without.
About the author:
Steve Hanson is co-founding member of The Janitorial Store (TM),
an online community for owners and managers of cleaning
companies who want to build a more profitable and successful
cleaning business. Sign up for Trash Talk: Tip of the Week at
http://www.TheJanitorialStore.com
- How To Select The Perfect Home Based Business
Remember your school days. The dreaded day when you took the state wide career assessment test. A test that spanned several hours? An exam to expose your strongest career interest. And then when you received the results you were surprised at their... - Starting a Business
You keep thinking how great it would be to be your own boss. You... - Choose a Name for Your Business
One of the most important things your company needs is a name....
26 Users Online