https://www.trushieldinsurance.ca/wp-content/uploads/2020/06/cleaning-business.jpg 301 700 Iriss Guillermo https://www.trushieldinsurance.ca/wp-content/uploads/2017/03/TSI-logo-wide-535x85-ENG.png Iriss Guillermo2020-06-01 14:37:062020-07-10 10:19:20Tackle messes with the right insurance for your cleaning business
2 minute readIf you own or operate a cleaning business, you’re used to picking up after others. Whether you may work in the commercial space offering janitorial services for a corporate office, or in consumer services as a window or carpet cleaner, your business is essential in keeping things moving, workplaces open, and maintaining proper health and safety. It’s a tough job that often requires unusual hours, as well as strenuous physical labour. All these factors present a unique set of risks for your cleaning business This could include anything from stolen or damaged equipment, to a customer slipping on a wet floor injuring themselves and holding your business accountable. The right insurance for your cleaning business will help ensure business continuity, a good reputation, and long-term growth. Whether you are reviewing your business plan or just starting out as a new company, here are some of the coverages you should consider investing in: Commercial general liability Liability refers to those situations where your business is responsible for damages suffered by a third party in the eyes of the law. Commercial general liability (CGL) is designed to respond to situations where your business is found to be legally liable for bodily injury or property damage to a third party. For example, if a person slips and falls on the floor after you finished mopping it, this coverage can help mitigate the loss incurred should a lawsuit ensue. Commercial property Commercial property insurance covers your physical property in the event of loss or damage that results from an insured peril. Not only can this coverage protect the building you operate in should you own it, it can also include equipment, inventory, furniture, and the technology you use. For example, if your commercial space is damaged due to vandalism, this coverage will help get the necessary repairs done quickly while keeping costs down. It can be a useful safety net when unexpected losses result from a fire, storm, or as a result of a theft. Mobile equipment insurance Do you rely on the use of different cleaning tools or equipment? Your tools may be stolen on your jobsite or become damaged as you move locations. This coverage can help compensate for this loss. Business interruption insurance If you’re forced to close your business because of an insured loss, your net income would most certainly be affected while repairs are taking place. For most small cleaning businesses, an extended loss of net income can be devastating. Business interruption insurance coverage can help protect your loss of net income, allowing you to continue paying normal operating expenses such as payroll and rent. It could help you get back on your feet sooner without taking a huge dip in long-term profits.