Many companies neglect to review their insurance policies and the coverage they provide until something happens. If you don’t plan ahead, it might not be covered. Here are some examples of what can happen: employee theft, chemical spillages, lost keys, damaged equipment, and items broken. Proper insurance coverage is an important tool to reduce your risk.
Basic business insurance usually includes general liability, commercial auto coverage and workers’ compensation. You may combine these coverages into one package policy. However, you should check with your agent to ensure that you are covered in each of the four areas. You should ensure that you have the following coverage in addition to the above-mentioned coverage.
*Lost key coverage. This will pay for lost keys to be replaced, adjusted, or installed new locks.
*Coverage for property under your care. This could include rental property such as floor care machines or carpet cleaning.
*Theft of customer property coverage. This coverage should be used to cover theft losses and those that result from negligence. For example, an employee forgetting to lock the building and allowing a thief access to your customer’s valuables.
*Restricted pollution coverage. Cleaning companies will likely have employees who work with a variety of chemicals. Coverage for chemical spillages on the jobsite is essential.
*Business income coverage. *Business income coverage.
*Office equipment coverage. Make sure your policy covers your office equipment and computers. A rider may be possible if you own a home-based company.
How do you select an insurance company? An agent who has worked with janitorial businesses will be able to help you ensure that you receive the correct insurance and the right coverage. You can trust your agent to provide you with a comprehensive program that suits your needs.
You want a financially stable and strong company. You should also ensure that claims are paid on time by the company. It is a good idea to have one agent who understands your business’s needs. This will save you time and make it easier to ensure that your different coverages are in place.
After you have established your policies, don’t forget about your insurance. Your agent should be kept informed about any changes to your business. Keep a copy of every item in your business. One copy should be kept at the office and one off-site. To reduce the chance of injuries and accidents, make sure your employees are trained in safety.
One incident could spell doom for your company. Without the right insurance, you could be out of business. It is important to plan ahead so that you can ensure your business survives a disaster. It can be difficult and confusing to find the right insurance for your cleaning business. However, you cannot afford to lose the right insurance coverage for your cleaning company.