When you invest in pressure washing insurance, you and your company are protected from the financial fallout that might result from client property damage, slippery conditions, data breaches, employee injuries, and other calamitous events. You can purchase insurance for pressure washing through an insurance company, an insurance exchange, or a broker’s office, all of which are accessible online or over the phone.
First of All, What Is Pressure Washing Insurance?
Insurance for pressure washing enterprises typically includes multiple types of protection against potential financial loss.
Whether you operate your pressure washing company full-time or part-time, owning business insurance is a good idea. It can help mitigate the monetary fallout from a variety of claims that would otherwise fall on your shoulders.
Here are some suggestions for learning more about the many types of small business insurance pressure washing business owners should consider and how to locate the appropriate coverage.
1. Consider the Potential Risks Facing Your Company
Before deciding on a policy’s limits, it’s important to assess the dangers your company confronts.
As with any business, pressure washing company owners confront the possibility of general threats like injuries and financial losses and industry-specific dangers like the following:
- Liability for damage to a customer’s property caused by floating objects, such as shattered glass.
- The danger of customers stepping over the pressure washer and its hoses.
- Security lapses that expose sensitive consumer data.
- Injury to the back or other body parts as a result of a slip and fall on the job.
It’s essential to give some thought to the potential risks to your company, such as legal action, human error, unexpected events, and natural calamities. When determining your risk and the cost of your coverage, insurers will look at a number of factors, including the size of your business, the types of work you do, your location, and the value of your assets.
2. Figure Out What Kinds of Insurance and Protection You’ll Require
The following is a list of the most popular kinds of pressure washing insurance that businesses may need, along with a brief description of the coverages provided by each.
General Liability Insurance
This refers to personal injury, property damage, and defamation claims filed against your company. Instead of purchasing a new policy specifically for your home-based business, you may be able to add a liability endorsement to your current homeowners’ insurance.
Workers’ Compensation Insurance
This is for employees who become ill or injured on the job. Employers must typically obtain workers’ compensation insurance in the majority of states.
Commercial Property Insurance
Natural disasters, fire, smoke, or vandalism that destroy or severely damage your business and its contents. For instance, if a storm ripped through your warehouse, you may file a claim with your commercial property insurer.
3. Evaluate the Various Providers
Compare prices from a number of companies before making a final choice. Things to think about while contrasting service providers are:
- What exactly does the policy actually cover? What isn’t included?
- Limits of insurance coverage specify the maximum amount of money an insurer will pay out in the event of a loss. You may need more capital if your company is larger or more high-risk.
- What is the cost of this insurance plan? Is a deductible required? What is the cost? Do both insurance have the same coverage and liability limits?
- You can see how many complaints have been lodged against a company on the National Association of Insurance Commissioners’ website. Before choosing an insurer, it is a good idea to research their customer service and overall quality.
4. Obtain Insurance, and Arrange for Regular Reviews
Spend some time learning about your insurance policy’s billing cycle, endorsement options, and certificate of insurance issuance procedures once you buy it.
Reviewing your company’s insurance policy every year is a good idea. Consider your satisfaction with the coverage, rates, and quality of service you’re receiving, as well as any changes to your risk profile, when it’s time to renew your policies. In this way, you can rest assured that your company is always protected.
Conclusion
A pressure washing business needs insurance to protect itself from liability. This type of insurance will cover any damages that occur to the property of the customer, as well as any injuries that may occur to them. The insurance will also cover any equipment that is damaged or stolen.
Overall, a pressure washing business should make sure that they are properly insured before starting its business.
If you are looking for a company that provides insurance for pressure washing businesses, look no further than our services here at Pascal Burke Insurance Brokerage Inc. We are specialists in an array of policies that cover not only general cases but specialty contractors. Call us today, and let us discuss all your viable insurance options.