If you own a startup or an established business, you need to protect your investment by insuring your business against every possible risk. The most common risks are fire damage, burglaries, theft and vandalism. However, business owners should also keep in mind the fact that lawsuits can bring a business to its knees. Usually, business owners without liability insurance often have to declare bankruptcy to avoid the costs associated with injury lawsuits. Therefore, insuring your business against all these risks is the key to stability and sustainability of the business. By purchasing insurance for cleaners, cleaning firms can protect their enterprise from many risks.
What is Cleaners’ Insurance?
This is a bundled insurance product offering coverage for different types of liabilities. For starters, it provides coverage for business property. Secondly, it comes with general liability coverage and has a workers compensation component as well as a janitorial bond. Basically, cleaners’ insurance is designed to protect a cleaning business from every possible risk that may arise in the day to day running of the business. If a customer slips and falls in a business premise that you’re hired to clean, they’ll most likely sue both you and the business owner. Whatever the outcome of the lawsuit, your insurance policy will pay legal fees as well as any compensation that may be awarded by the court.
If you’re running the cleaning business as a sole proprietorship, you will be directly exposed to financially-crippling lawsuits. To protect yourself, you have to purchase cleaners’ insurance. The policy will also protect you from lawsuits that may arise from work-related injuries. This is because employees will be covered by the workers compensation component of your insurance policy.
It is important to note that getting a bundled policy is much cheaper than purchasing individual policies to cover all the liabilities your business may be exposed to. However, you can still decide to shop around and purchase individual policies from the best insurance providers for each category. After all, some insurance firms are known for offering the best auto insurance, so you should purchase commercial vehicle insurance from them. Others are known to be specialists in workers compensation, so you should turn to these firms for workers compensation insurance and so on.
Electricians usually face a wide variety of risks while working. For starters, they face the risk of electrocution. Secondly, they can cause serious damage to private property. For instance, faulty wiring can start a fire, which can raze down a building. Faulty wiring can also damage costly appliances or even electrocute third parties. To protect themselves from these risks, electricians do not just need proper training, they also require insurance coverage. Fortunately, there are insurance products designed specifically for electricians.
Every electrician should have general liability insurance to protect themselves from claims arising from property damage or bodily harm. A general liability insurance policy will pay legal fees as well as the cost of replacing the item or remedying the situation. Electricians also need business income insurance, commercial property insurance, workers compensation insurance and commercial vehicle insurance. These policies will give the electrician peace of mind because their business will be protected from liabilities at all times.
Why Insurance for Electricians and Cleaners is Important
Professional service providers need to purchase sufficient insurance coverage to protect their businesses from liabilities. However, this is not the only reason why they need insurance. Most clients usually check whether or not a service provider is insured and bonded. If you are a cleaner or electrician, and you lack either of these two requirements, most clients will overlook your business. To get more customers, therefore, it is recommended you purchase insurance for your business and get an electricians bond or janitorial bond to give clients peace of mind.
Choosing the Right Policy
Since there are many insurance companies that offer insurance products designed for cleaners and electricians, it may be difficult for the average person to compare all the insurance firms and zero-in on the right insurance company. That is why working with business insurance brokers is recommended. A broker can save you a lot of time and help you find the most suitable and most competitively priced insurance policy in the market. Therefore, you should start your search by looking for the most trusted and most reliable insurance broker.