Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
A Fiduciary Bond (or Surety Bond) protects a fiduciary - someone who is granted power over another person’s interests or assets via a will or contract - from being sued for alleged fraud, embezzlement, or dishonest acts.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Covers your products, materials and equipment that are transported over land (truck or train), or while they're in a warehouse. If involved in a collision, mishandling or cargo theft, Inland Marine Insurance covers the transported goods.
Why do I need insurance for my Cleaning Service?
Insurance is your business's safety net when the unexpected happens. Litigation is not uncommon and even if a lawsuit is wrong or frivolous, you will have to pay a lawyer to defend yourself and your business.
How much does it cost to get bonded for a Cleaning Business?
A bond provides a way to guarantee your contracts with your clients. A typical surety bond will cost around $100 per year for $10,000 coverage.
What does it mean to be bonded and insured?
In general 'bonded and insured' means that your cleaning business has taken the necessary measures to protect your company and the interests of your clients.
Being bonded means that your business has a Surety Bond. In this case, the insurance company pays your customer in case you can't fulfill your contractual obligation. Being insured in contrast usually means that your business has insurance coverage like General Liability.
Which insurance type will cover the cost when breaking something while cleaning?
General Liability insurance is coverage for claims of bodily injury and property damage caused by your business and its employees.
What risks could Cleaning Services face?
Buying insurance is necessary to protect your business from potential lawsuits, mistakes, and damage to customer’s property. Take a look at the many risks you need insurance protection for:
There are more risks you need protection against including third party injuries, employment-related claims like discrimination, or allegations that your work caused serious damage to a home or business.