As a new commercial laundry owner, you understand the risks associated with the business. Unfortunately, finding the right commercial laundry insurance to protect against these risks can be a challenge. To help simplify the process, below are some of the top insurance coverages you should consider including in your new policy.
There are different types of liability coverages. In simple terms, they protect you in case a non-employee experiences bodily injury or property damage because of your business. This can range from a customer falling down on your property to your detergent leading to a customer developing an allergic reaction. If a lawsuit is filed against you, your policy will cover any expenses associated with the case up to your policy limits.
Property insurance covers you in case your property becomes damaged or is lost because of a fire, theft, vandalism or weather-related event. Examples of covered events include a fire burning down your building or your customer’s laundry being stolen while in your possession. In either case, your policy will pay to repair your building and offer funds to cover the cost of the stolen items.
You will also need to carry commercial auto insurance if you plan on using company vehicles to make deliveries. Work with an experienced commercial laundry insurance agent to customize your perfect policy with the appropriate coverage limits.