How do you get the right janitorial insurance program set up for your business at the most competitive rate in the marketplace?
Today we’re talking about commercial insurance for janitorial businesses, businesses that are going into either residential, habitational, or even commercial spaces and doing cleaning services, standard janitorial work.
There are a few common coverages that you’re going to want to consider in the vast majority of cases.
Learn what these insurance coverages are, why they’re important and how to get the best rate in the market…
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Running a janitorial service can be demanding, and it’s a constant challenge for owners to deliver exceptional service while maintaining profitability.
These challenges are magnified when you consider the need to balance risks related to commercial automobiles, property damage, equipment breakdowns, crime, and inland marine exposures.
The list below provides an overview of these risks and more—helping you identify potential blind spots in your risk management and insurance programs.
Commercial Auto Insurance
Due to the frequent travel required for janitorial services to reach job sites, commercial auto insurance exposures are significant.
Driver fatigue, hazardous weather conditions, and distractions can lead to accidents. And, just one accident can be extremely costly, as expenses related to vehicle repairs and bodily injuries can add up quickly.
What’s more, if you allow employees to use their own vehicles for work, standard auto policies are often not enough
General Liability Insurance
In the event that an injury occurs at a worksite after being serviced by your business, you may be held responsible. A simple wet floor could cause slips, trips, and falls that may lead to costly lawsuits or insurance settlements.
Additionally, a client may claim that property was damaged by your employee, and even a frivolous lawsuit could cost valuable time and resources.
General liability insurance coverage can help cover any associated medical or legal costs related to these risks.
Natural disasters and equipment malfunctions put the offices of janitorial services at risk of property damage. In extreme events, property damage could even cause costly long-term closures during which you are unable to fulfil your contracts.
This risk is worsened by the presence of large supplies of cleaning solutions and solvents that could pose a potential fire hazard.
Crime may not seem like a significant risk due to the fact that clients most likely pay for their contracts via card or check, and so cash is not kept on the premises.
However, thieves (including your employees) do not need direct access to cash to steal from you. Equipment, supplies, and securities are all potential targets for wrongdoers.
Inland Marine Insurance
Janitorial services must not only handle valuable equipment but also documents such as records of work and client or supplier contracts on a regular basis, creating inland marine exposures.
Computer systems, signs, property, and cleaning equipment all represent potential losses.
Any property that’s unique or valuable, in transit, in your temporary care, stored at fixed (but movable) locations, or used to transfer information represents an exposure.
Worker’s Compensation Insurance
Any time one of your employees is injured on the job, your business could be subjected to expensive workers’ compensation claims and thus need the right worker’s compensation insurance.
Normal, everyday tasks can lead to accidents and, in turn, increased costs for your business. Mopping and wet floors can lead to slips and falls.
Exposure to toxic cleaning chemicals or pesticides can cause long-term illnesses. Your employees could also throw out their back moving heavy furniture or suffer musculoskeletal injuries due to repetitive tasks. Because much of your workers’ time will be spent away from your company’s own offices, these risks may fall beyond your control.
The point here is there is a whole package of insurance coverages that you need to at least consider in order to protect the sustainability and profitability of your janitorial business.
We can help.
If your current insurance professional has never addressed issues like this with you before, then I’d encourage you to reach out to us today.
- You can call or text us at 518.960.6600
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I look forward to introducing you to a new way of viewing your insurance program.