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BASIC
Essential coverages to meet client demands
Includes:
STANDARD
When you also have equipment or operate from a shop
All Basic plan benefits and:
PRO
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
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There are many unforeseen circumstances which could put you out of business that an insurance policy serves as a solid protection against. As a dry cleaner you are in charge of customers’ clothing and other materials during your service, and if anything were to destroy their things you would be responsible. In the event of a total loss of your shop or assets, there is the potential for huge financial risk, and our coverage can keep you going. You should also consider insurance against employee injury or disgruntlement.
General Liability risks of third-party claims of bodily injury and property damage remain some of the most common issues a dry cleaning and laundry business face. In addition, your employees could get sick from the chemicals they may be exposed to. Workers could face repetitive motion injuries. Many of the chemicals present at dry cleaners have the potential to ignite a fire and cause substantial loss. By getting the right insurance coverage, you'll be able to mitigate these risks.
Bailee's Coverage is an add-on to basic laundromat insurance, namely Commercial Property insurance. It covers non-owned property stored in your shop or that is in your possession. This coverage will pay for the damage and minimize the financial risk your dry cleaning business could face when the property damaged is under your control.
The cost of insurance depends on the size and location of your business, among other rating factors. Often basic general liability is $500-$1,000 per year and adding property insurance will just about double it. For a full insurance program including Workers Compensation, Commercial Auto, and Bailee's coverage, the cost reach upwards of $5,000 per year. Of course, this cost is always markedly lower than the cost to handle a property loss or lawsuit without insurance.
In most states, it is mandatory once you hire full-time employees. Also consider the level of risk that a dry cleaning business faces, making it important that your business has a safety net against workers getting sick or injured on the job. Without Workers Compensation, those employees can sue you and your business for lost wages and additional costs associated with a workplace injury.
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