Dry Cleaner Insurance
The dry cleaning industry generates about $9 billion a dollar, and most of that comes from small, independent shops. Whether you own one of these smaller dry cleaners or run a larger dry cleaning business, you need to protect yourself and your company with the right business insurance coverage. That’s where dry cleaner insurance comes in.
General Liability For Dry Cleaners
When you own a business, general liability is among the most important types of coverage. This is especially true when members of the public regularly visit the property. In the case of a dry cleaning service, you need to make sure you are fully covered if a customer trips, slips, or gets hurt in any other way. Without liability as part of your dry cleaning insurance, you might be required to pay for any resulting medical bills out of pocket. Take note that this type of business insurance can also pay for any lawsuits that allege that you committed slander, libel, or copyright infringement against a competitor.
Business Owners Policy (Bop)
You need a business owner’s policy to make sure your dry cleaning business is properly insured. This can protect both your equipment and your building, since the BOP covers both sewer and drain backup and equipment breakdown. Plus, if your building and its contents are damaged, this part of your dry cleaner insurance will pay for any repairs or replacements.
Commercial Auto Coverage For Dry Cleaners
If one of your services happens to be pickup and delivery of clothes, you need commercial auto coverage to be part of your business insurance policy. This is because your personal car insurance will not pay any claims related to a car accident in a vehicle used for business. As long as you obtain the right commercial auto policy, your company cars should have at least property damage and bodily injury liability.
Workers Comp Insurance For Dry Cleaners
If you have one or more employees working for you, workers comp is a necessity. The dry cleaning industry involves the use of special equipment and chemicals, which can sometimes be harmful to employees. This is why you need to make sure you won’t be held personally liable for the medical bills of employees who are injured at work. This part of your dry cleaner insurance policy also protects your workers, since it makes sure they will not be stuck paying for their own medical bills when they get treatment for a work injury.
Excess liability is an umbrella policy that you will be relieved to have when you face a lawsuit that costs more than your general liability policy can cover. It comes in increments of $1 million, so before you add this to your dry cleaner insurance, simply decide how many millions you want to have at your disposal in case you are sued and can’t afford to pay the claim out of pocket.