These cleaning business insurance policies will keep your company covered in the event of a mishap.
Every janitorial operation can benefit from strong cleaning business insurance. These programs protect you and your employees from losses on the job while also establishing you as a reliable client asset. Consider your prospects with care, and you can walk away with a policy that bodes well for both your reputation and your revenue.
Of course, understanding the reach of business insurance is complicated. Different policies cover different types of losses, and all of them come with exclusions. If you travel from state to state to complete janitorial jobs, you have to account not only for your basic coverage but for the way your policies may vary when you cross state lines.
With so many factors to consider, you’ll want to make sure you have the following details hammered out before you sit down with a potential provider:
● The size of your team
● The size of your client base
● The number of vehicles you want affiliating with your organization
● The range of your business (and whether or not you’ll travel)
● The cost of your preferred policies
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How to understand your cleaning business insurance options
One of the biggest challenges in finding the right insurance policy for your business is narrowing down the available options. When you first move to insure your business, consider the pros and cons of all of the following policies:
General Liability
If something goes awry in the middle of a job, you want to know that both you and your team are protected. General liability coverage ensures that you have the funds to address the concerns of a client who claims to have suffered an injury or loss at the hands of your team, including both property damage and personal injury.
Property Damage Insurance
Property damage for your business differs from general liability. General liability covers losses you may face at the hands of a client who believes your team interacted inappropriately with their property. Property damage insurance for your entire organization provides you with compensation should you suffer:
● Fires
● Natural disasters
● Theft
You can use this insurance to cover the cost of replacing lost property, should any of the incidents mentioned above put a damper on your productivity.
Business Owner’s Policy (BOP)
Business owner’s insurance takes general liability and property damage insurance and applies the benefits of both specific to your investments. This coverage does not provide additional means for your consumers to rely on—instead, it’s all for you.
A business owner policy will protect you from losses that clients may level against you should they find themselves unsatisfied with your work. You are also protected from costs including:
● Debris removal
● Loss of income
● Pollution cleanup
Each business owner’s policy comes with its exclusions, some of which may be state-specific. Even so, this coverage ensures that you lose less money on your business investments should something go awry with either a client or the world around you.
Workers’ Compensation
Janitorial work is strenuous under the best of circumstances. You can’t protect your employees from everything that may go wrong on a job, nor can you predict accidents. This is where workers’ compensation comes in handy. Workers’ compensation ensures that you can replace the lost wages of employees who suffer injuries while on the job.
Janitorial Bond
You place a significant amount of trust in the employees who step into clients’ homes on your behalf. Insurance policies like Janitorial Bond – also referred to as Employee Dishonesty Bond – cover the costs that trust cannot.
Janitorial bond coverage ensures that if an employee steals or commits a fraudulent act in a client’s home, you have the coverage to attend both to the loss and applicable legal fees.
Business Vehicle Insurance
If you own and operate vehicles tied explicitly to your business, you need business vehicle insurance. This insurance protects you and your team from losses faced while on the road. Should one of your drivers get into an accident and be at fault, this coverage provides you with the funds to cover a third party’s losses.
Business vehicle insurance also protects you from vehicle damage tied to theft or natural disasters. While these policies are not comprehensive, you can discuss your credit limits with an insurance agent before choosing a plan to commit to.
While many of these may be required by federal, state, or local laws, understanding what you’re looking at can go a long way in helping you get the right deal for your commercial cleaning operation.
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