If you search for business insurance for dry cleaners, both the number and the diversity of policy options out there can overwhelm you. Whether you own a mom and pop shop or you seek to franchise out across your city, you need a systematic way to manage your dry cleaning insurance costs – while reducing your exposure to liability and other problems.
Dry Cleaning Insurance 101
What policies can you get? First of all, you should almost certainly invest in liability coverage. This protects you in the event that your business causes property damage or bodily injury to somebody. For instance, say you damage expensive clothing. Your liability coverage would help compensate the client. Or say some cleaning chemicals sprayed on a visitor and caused burns or an allergic reaction. Your dry cleaners insurance should help pay for things like hospital bills and time off of work.
You may also need special insurance to cover your equipment. After all, dry cleaning equipment is incredibly complicated and interconnected – if a small mechanical problem knocks your operation offline, you could literally lose thousands. So you need business insurance for dry cleaners to keep your equipment running shipshape. Depending on the nature of the dyes, chemicals, and cleaning solutions you use, you may face special fire or hazmat hazards – and you may need special dry cleaning insurance to protect you against liability concerns specific to those chemicals/hazards. Be prepared to pay more than average for things like fire insurance if you keep flammable chemicals onsite.
You might also need environmental insurance – depending on how you dispose of your used chemicals and hazardous materials. Also, if four or more people work at your facility, you will need workers' compensation insurance. This protects your business if one of your employees gets hurt at work – e.g. gets caught in a machine or slips and falls in a break room.
Note: the above coverages constitute only the tip of the iceberg – you can get dozens of other kinds of insurance as well, including life, health, loss control, and business interruption.
Making Sense of Dry Cleaning Insurance Dilemmas
You are in the business of operating dry cleaners – and so you want to spend as much time doing your business as possible – and not dealing with logistics like balancing your dry cleaning insurance portfolio. To that end, seek help from people who have experience and credentials to isolate your biggest exposures and mitigate against them through the proper application of business insurance for dry cleaners. A good agent can suggest cost saving solutions – such as coverage to cut and ways to raise your deductibles to save on premiums.
Another great strategy is to get a clearer vantage of your options. Let NetQuote help you find 5 + quotes for dry cleaning insurance right now. Our fast and free service can deliver quotes from the nation's top carriers for you to cross compare now.
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