Cleaning business insurance, also referred to as janitorial services insurance, includes commercial vehicle insurance, general liability insurance, workers compensation and much more. Any cleaning business, ranging from residential maid agencies to commercial cleaning services, requires cleaning business insurance. The cost for cleaning insurance ranges from $375- $5,000 – the exact cost of your premium is determined by a variety of factors, and it is, therefore, best to speak to a qualified insurer for a detailed quote.
Types of insurance cover for a cleaning business
Cleaning service providers come in all shapes and sizes, therefore, insurance providers offer customized packages that are tailored for the different unique needs of their cleaning business clientele. As you may have guessed, the price will be affected by your size and scope of operations. The logic being, the more staff you employ, the greater the risk. Insurance companies that offer cleaning business insurance provide the following types of janitorial bonds.
- General liability – this will cover any third party claims for damage to property of bodily injury.
- Commercial property insurance – this covers the assets of your business which include the business premises, cleaning equipment, and cleaning supplies.
- Commercial vehicle insurance – this will take care of any damage or injury as well as any lawsuit that may arise following the accident involving a car that is owned by your cleaning agency.
- Workers compensation – this covers any work-related injuries, hospital bills, or even wage replacement for your personnel.
- Umbrella Insurance – this deals with any claim that goes above and beyond the liability coverage.
Buying janitorial services insurance
Buying industry-specific insurance products, like cleaning business insurance, is very different from buying any other insurance product which is often standardized and therefore very easy to find. Before you settle on a janitorial insurance product, there are some things you need to put into consideration to be certain that you are getting the best deal for your business. Start by gathering the following important data.
- The business contact information
- The revenue estimates
- The number of employees at the company
- The number as well as types of vehicles used by the company
- The nature and risk exposure of your cleaning work (for instance, if your company cleans external windows on skyscrapers, you are at a higher risk than another company that offers domestic maid services.)
- The history of claims – for at least the last 3 years
- What the insurance company requires their customers to have before signing up.
Understanding your risk exposure is the best place to begin before you start looking for an insurance provider. Risks in the cleaning business include possible injuries to your staff from slips, possible exposure to hazardous chemicals, damage that might be caused to your client’s property, etc. Remember, even a very small mishap can result in frivolous lawsuits that could turn out to be very expensive in the long run.
When looking for an insurance company for your cleaning business, you should be more concerned with the value rather than the cost. Even though some companies charge more than others, they may also offer more value. The key question is, are you getting value for your money? If you are, then it’s a great choice.