Cleaning companies unique requirements for insurance coverage – harsh chemicals, transportation and storage
BIG BEAR LAKE, Calif. — Dry cleaners, laundromats and other cleaning businesses such as carpet cleaners have always had a hard time finding affordable liability insurance for their companies. These businesses have environmental concerns – they sometimes use harsh chemicals, have storage tanks, potential pollution concerns and many of these factors preclude insurance carriers from writing insurance for these businesses as a ‘standard lines’ product. So, it is treated as a specialty insurance product or ‘Excess & Surplus Lines’.
What this means is that it is harder and potentially more expensive for these businesses to find insurance coverage for their operations. Because, it is a specialty commercial line of insurance coverage, not many insurance agents have experience with it. If an insurance agent does not have expertise with the product line, then they don’t have a bunch of similar businesses in their ‘book of clients’. This normally means that the rates they get from their Insurance Company is not the best rate available. And this translates into higher rates for their client – the cleaning company. This is a simple explanation of course, but the fact remains that the cost of insurance to the local small business provider (in this case cleaning businesses) is not as affordable as it could be under the right circumstances.
The Right Circumstances
“At CompleteMarkets, our goal is to connect the small business to a local and independent insurance expert – an expert that understands the local business’s particular needs and localized circumstances and because this expert normally has other clients that fit into this business category, their connections and lower rates from the insurance providers can help reduce insurance costs for the cleaning business,” says CEO, Adrian Holloway.
Cleaning businesses looking for insurance can access the simple, but effective local insurance agent finding tool at CompleteMarkets.com. For businesses that are looking for more information on liability insurance for cleaning companies, laundromats and other cleaning operations, a great starting resource would be the cleaning and laundromat insurance resource pages – which has some info on what coverages may be needed and lists some well-known providers of this type of liability insurance.