Pressure washing is a promising business opportunity because many people will need this service to clean some areas of the house that are difficult to clean. This business uses special equipment and operational vehicles to reach consumers’ homes. Protect your business with insurance for pressure washing to avoid the risk of loss.
Although the government of the country where you live doesn’t require you to provide business insurance, you should purchase this protection. The pressure washing business has risks that can endanger the safety of employees or even the company’s financial security.
Contents
Get to know the Pressure Washing Business Insurance
Buying business insurance will be a smart move in protecting the business from various kinds of risks that can lead to losses. This protection can be for a side or full-time business.
Generally, the protection provided by pressure washing business insurance is compensation for damaged equipment or property, operational vehicles, medical expenses if an employee has a work accident, or even legal protection.
If your business has to face some of the factors mentioned above, then you can sit back because the insurance provider takes care of the loss.
Business owners must realize the importance of insurance from the very beginning of starting a business because it provides reliable protection. Not only protects employees and business finances, but insurance also keeps business operations from being hampered.
Pressure Washing Business Risks
Insurance for pressure washing will certainly provide special products or follow the risks that are very likely to be encountered in the pressure washing business. Given that business insurance has many types, it is important to know what business risks you will face.
To know your business risks, think carefully and jot them down so nothing is missed. These simple steps will be very useful in helping you get the best type of business insurance. The common and most likely risks faced by a pressure washing business owner are:
- Customers fall due to tripping over hoses or other pressure washing equipment.
- Leakage of customer personal data that can harm customers.
- The employee had a work accident that caused an injury.
- Liability for broken glass due to water pressure that is in the client’s property.
What’s more, you also need to think about other risks that can destabilize your business, such as lawsuits, service errors, and natural disasters.
Taking into account some of the main risks above, you can consult with an insurance provider to get business insurance with comprehensive coverage for your business.
Best Recommendations for Pressure Washing Business Insurance Types
Below are some types of business insurance that offer different coverage. Please study the detailed information on the types of business insurance so you can make a wise choice.
1. General Liability Insurance
The first type of business insurance is General Liability Insurance or GL insurance. This insurance coverage is more for companies and customers. Meanwhile, the problems that occur with employees are not GL insurance coverage.
The GL insurance coverage that you must know is compensation for damaged property owned by the company, compensation for damaged customer property, and medical expenses if the customer is injured because of your business.
Suppose a customer trips and falls on a pressure washing and is injured and requires medical treatment, the insurance provider takes care of covering the medical expenses.
Furthermore, GL Insurance will also provide legal fee protection if your business gets claims from customers or other parties. Other legal protections provided by insurance providers are defamation (written and verbal slander), copyright infringement, and advertising.
2. Workers’ Compensation Insurance
Without workers, the business will not be able to run. Therefore, you should also think about the safety and welfare of these workers by providing workers’ compensation insurance.
Insurance for pressure washing that specifically gives protection for workers usually covers injuries resulting from work accidents, lost wages, medical expenses, and even death benefits or funeral costs due to work accidents. Policies regarding workers’ compensation insurance coverage will follow the regulations of each country.
Workers’ compensation insurance also protects your business from being sued for work-related injuries. The insurance provider will provide coverage for attorney’s fees, court fees, judgment costs, and witness fees.
3. Commercial Auto Insurance
If you use several vehicles to support your business mobility, be sure to complete these vehicles with commercial auto insurance. Simply put, vehicles can be in an accident, damaged by weather, theft, or damage due to vandalism.
All these problems will be the responsibility of the insurance provider so you no longer need to spend large amounts of personal money. You only need to pay the deductible every time you make a claim.
Commercial auto insurance generally also provides legal protection coverage, compensation for property damage due to accidents, and medical costs for injured drivers or passengers.
All types of coverage that are included in the insurance coverage cost a very large amount. If you don’t have commercial auto insurance, these expenses will be a financial burden on your business.
4. Business Owner’s Policy – BOP
If you want to get both property insurance and general liability insurance coverage in one policy, BOP or a business owner’s policy is the solution. BOP will help your business in overcoming the following problems:
- Property damage and lawsuits for bodily injury to customers due to your business.
- Business equipment that is stolen or lost.
- Damage to the property you are renting or damage to cleaning equipment and commercial space for your business.
- Lawsuits for advertising injury, copyright infringement, and defamation.
BOP will also compensate if the business has to be temporarily closed. You don’t need to worry that the company’s finances will be shaken. BOP will provide compensation for lost income, other operational costs, payroll, and rent.
Which Type of Insurance for Pressure Washing Suits You?
To wrap it all up, the pressure washing business has some risks that can disrupt the smooth running of the business or even cause huge losses. As a smart solution, you can choose the type of insurance for pressure washing as mentioned in the discussion above.
Remember, when choosing the type of business insurance, you shouldn’t just focus on the coverage offered but also the monthly premium rate. Whenever possible, look for comprehensive insurance coverage with affordable premium rates.