The Cost of Not Having Commercial Cleaning Insurance for All Cleaning Services
Insurance for cleaning companies helps them to transfer the risks that they are exposed to the insurance company. There are very many unexpected things or events than can hurt a cleaning company. There are things that can completely make a cleaning company come to a standstill. By paying small premiums to an insurance company every month, a cleaning business protects itself against the possibility of suffering from huge financial losses. Loss of equipment, theft, accidents and legal liability are some of the things that can hurt a cleaning company. Commercial cleaning insurance helps to protect a company from the many events that could disrupt its operations.
Types of Commerical Cleaning Insurance Recommended for Cleaning Companies
Property insurance
Property insurance protects cleaning companies from the loss of property. Property loss can be a result of theft, loss of use and physical damage. Loss due to theft can arise from the criminal activities of people from outside or criminal activities by employees. Employees can commit forgery, embezzlement or fraud that lead to massive losses. Physical damage can be caused by fire, vandalism, severe weather, accidents etc. To get protection from the loss of property, you should purchase a comprehensive policy. A comprehensive policy will covers a cleaning business against all the risks that may lead to loss of property. This will be much cheaper than purchasing several policies to cover specific types of risk that can lead to the loss of property. Your commercial cleaning insurance cover should allow you to be paid the full replacement cost of the cleaning equipment and properties that you might lose.
Legal liability insurance
Legal liability insurance covers business related injuries that customers, employees, vendors and all other people that may suffer from because of the negligence of the cleaning company. The company has the responsibility to ensure that the people it is dealing with do not suffer as a result of its operations. Legal liability insurance protects the company from the claims by employees who suffer from injuries inside or outside the business premises. This policy usually covers the medical expenses, court fees and attorney fees.
Company’s vehicles insurance
All vehicles belonging to your cleaning company must be insured, just like the vehicles that people buy for personal use. Vehicle insurance is always handled separately from liability and property insurance. You have to ensure that all employees of your cleaning company are listed on your automobile insurance policies.
Life and health insurance
Your employees form a vital part of your business. You need to provide them with group health and life insurance. This type of insurance should be under employee benefits.
How an insurance broker can save you money on commercial cleaning insurance
When you are looking for the best commercial cleaning insurance cover for your cleaning company, it is very important to seek the help of an insurance broker. An insurance broker works independently and will analyze your business and its risk objectively. Typically, a broker will ask you to write down all your needs and expectations. An insurance broker will help you identify the risks that your company faces, seek a way to reduce the risks, decide the risks that the business can assume, help you decide the risk that should be transferred to an insurance company of choice as well as help you shop around for the best coverage. This will help you save a significant amount of money on the right commercial cleaning insurance for your firm.