Insurance coverage is one of the most overlooked items in one’s business. The policy is to cover instances that may occur in the future, such as lost items, negligence in the use of chemicals, theft, damage to equipment and the like. The right coverage would be able to keep one’s risk and thus one’s premiums to a manageable level.
The basic coverage for a business includes general liability insurance, auto insurance if the business has vehicles, worker’s compensatory insurance and breakdown insurance. These coverages are most often bundled into one policy but one needs to verify with one’s agent as to the actual coverages. But the industry where one has chosen to be part of has specific risks which may not fall under the basic policy package. So in order for one to be able to perform the job engaged for, one needs to cover the following risks inherent in the cleaner business.
1) For keys. Keys are important in the business as most of the activity is done after work hours. If one the employees loses one or any of the keys provided the business, one would need to pay for the actual key, lock adjustment or even replacement of these locks. By having insurance for this, one need not worry about this.
2) For property left in one’s care and supervision. This type of insurance covers property given to the cleaner for use or left in their care and supervision. This includes rented or leased property or equipment like vacuum cleaners or industrial grade floor machines.
3) Thievery. This coverage is not the same as the insurance against the cleaner’s own employee’s theft, but if the cleaner’s employee’s negligence allows the occasion that the criminal act of theft be realized. An example would be leaving the back door unlocked and thus allowing thieves to gain unlawful entry.
4) Against pollution. As a cleaning company, one works with an array of chemicals used to clean the work site. Pollution may occur when there is accidental spillage or mishandling of these volatile chemicals.
5) Business losses. The risk insured against in this type of coverage is sudden business loss or downturns that were unforeseen. A prime example is the sudden closure of business or bankruptcy of the cleaner’s biggest client making the bottom line go to the red. Having this insurance allows one to be financially supported until the business income returns to normal.
6) Non-cleaning materials. This coverage is for the office equipment of the cleaners. This may just be a rider if one works out of one’s home.
So there are some risks associated with the cleaning business which is not included in a typical business insurance policy coverage. The risks may be a lot more since one performs a highly specialized service, one small act may ruin a small business such as this one financially. It would be best to discuss these risks with an insurance expert or specialist so one may be able to adequately prepare for them.
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very helpful!