As a janitorial business owner, you know how important keeping your clients’ spaces clean and tidy is. But have you considered how important it is to protect your business with janitorial insurance? While it may not be the most interesting topic, understanding the basics of the janitorial insurance program can help you avoid costly mistakes and protect your business from financial ruin.
What is Janitorial Insurance?
Janitorial insurance, also known as cleaning business insurance, is a type of insurance policy designed specifically for janitorial and cleaning businesses. The policy covers a range of risks unique to the industry, such as damage to a client’s property, injuries to employees, and theft of equipment or supplies.
Why Do You Need Janitorial Insurance?
As a janitorial business owner, you may be tempted to forgo insurance to save money. However, this can be a costly mistake. Without insurance, your business is vulnerable to various risks that could cause financial ruin.
For example, if a client sues your business for damages, you could pay for medical bills, legal fees, and other costs associated with the lawsuit. These costs will quickly add up without insurance, putting your business in debt.
Aside from that, accidents can happen, even if you take every precaution to prevent them. If an employee is disabled on the job, workers’ compensation insurance can help cover the cost of medical bills and lost wages.
Types of Janitorial Insurance
Depending on your unique demands and circumstances, you might need to investigate several janitorial insurance packages for your company. The following are some typical forms of janitorial insurance programs:
General Liability Insurance: This policy covers claims of bodily injury, property damage, or personal injury that arise from your business operations. For example, if a client slips and falls on a wet floor that your employee was cleaning, general liability insurance would cover the cost of any medical bills or legal fees that arise from the incident.
Workers’ Compensation Insurance: If you have employees, you will likely need workers’ compensation insurance, which covers medical expenses and lost wages if an employee is injured. This type of insurance is required by law in most states.
Commercial Property Insurance: This policy deals with damage to your business property, such as your cleaning equipment, supplies, and office space, due to fire, theft, or natural disasters.
Surety Bond: A surety bond is an insurance that provides financial protection to your clients if your business cannot fulfill its contractual obligations. For example, if you damage a client’s property while cleaning, the surety bond would cover the cost of repairs.
How to Choose the Right Janitorial Insurance Policy
- Examine the Specific Risks That Your Business Faces. For example, you will likely need workers’ compensation insurance if you have employees. If you transport equipment, you may need commercial auto insurance.
- Compare Policies From Different Insurance Providers. This way, you can find the best coverage for your needs and budget. Read the policy details carefully and ask questions if there is anything you need help understanding.
- Consider Your Budget. Look for policies that offer a balance between coverage and affordability.
- Work With an Insurance Agent. An insurance agent can help you navigate the complexities of janitorial insurance and find the right policy for your business. They can also discuss the details of your policy and answer your questions.
Final Thoughts
A janitorial insurance program is crucial for any cleaning business to protect against potential risks and liabilities. After all, cleaning business owners can ensure long-term success and stability by understanding the coverage options and selecting the appropriate policies.
Pascal Burke Insurance Brokerage Inc. provides a wide range of janitorial insurance programs that can be tailored to meet the unique needs of your cleaning business. With our expertise and commitment to customer service, we can help you find the best coverage at the most competitive rates. Contact us today!