Window Cleaning Business Insurance: What You Need to Know
- November 29, 2019
- By: Vonigo
Insurance isn’t exactly the fun part of starting a window cleaning business. But while it may not be glamorous, dependable insurance coverage can be the difference between a window cleaning business that fails and one that thrives.
Risk is inherent to any business, and protecting yourself from that risk is key to your business’ survival.
Do I Actually Need Insurance for My Window Cleaning Business?
You might think insurance is an optional expense. But if you think about the risks of doing business, they’ll start to add up. Window cleaning leaves your employees exposed to the elements, sometimes at high elevations. How would you respond to a workplace accident? It’s not just huge, dramatic disasters that can be expensive – even small accidents, such as reactions to cleaning chemicals or repetitive motion injuries, can result in lawsuits that take years and thousands of dollars to resolve. What’s more, your business will own assets, like vehicles and equipment, that you’ll need to replace and repair. Consider client lawsuits, too. Your employees will enter other people’s homes and businesses, and these people want to be compensated for any costs your employees could incur, be it theft or accidental damage.
These examples aren’t exceptions – they’re the norm of operating a window cleaning business. Without comprehensive business insurance to protect you, costs like these could easily bankrupt your business for good.
But don’t worry. Good quality insurance for your window cleaning business does exist, and it doesn’t need to be prohibitively expensive. In this article, we’ll go over everything you need to know about window cleaning business insurance so you can put your mind at ease and grow your business for years to come.
What Kind of Insurance Does My Business Need?
There are many different kinds of insurance you should care about if you operate a window cleaning business. Some may be more important than others, but that’s your call to make depending on your company’s unique needs. For example, auto coverage will be more relevant if your employees often drive long distances to their cleaning appointments.
Let’s start with a general insurance solution: business owner’s policies. These plans are for owners of small to mid-sized companies and include property and general liability insurance. Business owner’s insurance policies will protect your business’ building and everything inside it. This includes computers, furniture, and specialized equipment like lifts. In addition to the actual value of these items, you’ll be covered from lost income.
For example, a flood or fire may result in you needing to take time off from normal operations. Finally, while you protect your property, these policies provide liability insurance, compensating you if you’re sued by a client or other third party.
How Much Will All This Insurance Cost?
Despite the risks of cleaning windows, business insurance doesn’t need to be expensive. By doing your research, you’ll be able to get the coverage you need at a price you can budget for.
In general, a business owner’s policies cost between $500 and $1,000 a year. Other types of insurance, will be extra, but a business owner’s policy should be your largest expense. These additional policies should cost no more than $500 each annually – and sometimes, much less.
While these costs are nothing to scoff at, you’ll want to look at this extra $1000 – $2000 per year as an essential cost of doing business. Making smart decisions now means you’ll be able to bounce back from the inevitable hardships and surprise costs!
How Can I Shop Smart for My Window Cleaning Business Insurance?
Shopping for business insurance means making a lot of personal decisions. These decisions depend on your window cleaning company’s risk tolerance, financial situation, and business model. If your business is financially stable with a large amount of emergency savings, you might be comfortable choosing a plan with lower premiums, but a higher deductible. If you have dozens of employees, workers’ compensation and bonding insurance will be more important than if you’re a one-man show.
Choosing the right insurance provider is half the battle. Whether you work with an insurance agent or directly with a company, find someone who’s familiar with the business and the risks involved. Look out for someone who takes their time on the underwriting process, too. If you only had to answer a couple of questions to get your window cleaning business insurance policy, it’s likely the coverage won’t be as comprehensive as you think.
No one else can make these decisions for you, and that’s part of what makes being a business owner so exciting. Do your research and go into the insurance shopping process informed to make it as painless and stress-free as possible.
Insurance Helps Your Window Cleaning Business Last
The good news is that if you’re careful about choosing your insurance, you won’t need to think about it again for a long time. Good insurance coverage means you don’t need to worry about accidents or lawsuits. Instead, you can build a business that can weather a storm and stay profitable for years to come.
Want to learn about how window cleaning software can help you manage and grow your window cleaning business? Book a free, private demo of Vonigo.
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