Read this, before opening your cleaning business
Read this, before opening your cleaning business. Cleaning companies are the gateway to the business world for many immigrants. They can be created with a small investment – $2,000 to $6,000 – and you don’t need to speak the local language or have any technical skills.
Like any business in the US, it is necessary to have commercial insurance. What coverages does a cleaning company require?
The first coverage you’ll need is called Worker’s Compensation. This coverage is mandatory for companies that hire four or more employees. Protects workers in the event of a work-related injury or illness. If your company has fewer employees, it is still advisable to have such coverage, since if someone is injured or becomes ill, you would have a legal obligation to bear the costs. This coverage can cost a small company about $1,000 a year.
The other coverage you need is General Liability, which is intended to protect you from third-party physical and property damage claims. For example, if a customer slips because the floor was wet or if one of your employees breaks a mirror belonging to one of your customers. You’ll typically pay an average of $550 a year for this coverage.
If you work with sophisticated cleaning equipment, you should have Tools and Equipment coverage that covers the replacement of any of these items if they are damaged or stolen.
Some companies use company vehicles with advertising logos. If this is the case for you, you should have commercial auto insurance. Since, if you suffer an accident related to your work, your personal insurance company will not cover you. This coverage would not exceed $1,000 per year.
If your business is to work in private homes or in certain offices where there are high-value products, it is recommended that you have surety insurance. This is a kind of bond that will protect you in case one of your workers commits a theft or steals money from a client’s office or home. Having this protection gives you greater access to the market.
If you are thinking of opening a cleaning business, speak with the specialists at Univista Insurance to clarify all your doubts and obtain the cheapest commercial policy in Florida. Read this, before opening your cleaning business.