How much liability insurance does a cleaning business need?
The answer depends on how much you can anticipate your potential liability to be.
For example, if you are cleaning, run a frayed extension cord to the sweeper. If a fire occurs and kills a sleeping child, or if the fire spreads to another house, the damages can be very great.
Recognize though, that liability insurance policies come in various varieties, and usually have "per occurrence" limits. There are likely programs that are specially designed for your industry and which reflect typical liability limits. In all events, you should consult a licensed insurance broker who is knowledgeable about the nature of your business for guidance.
Requirements also vary by state.
Business Liability Insurance is typically sold as "General Liability" insurance to businesses in order to provide coverage for the day to day operations of the business. Depending upon the kind of business it is, there are different categories of liability insurance for businesses. For instance if a business manufactures, then Product Liability Insurance is necessary to cover claims against the business arising from the use of their products. If the business is a service business…
You should always carry liability insurance and a surety bond for a cleaning company to protect you and your customers from any accidents that my occur from your work. Both are very cheap Your state insurance department is your best resource for insurance-related questions and concerns. Find information on insurance companies and agents, rate quotes and comparisons, insurance buying tips, claims filing information and much more! State Insurance Department websites: http://www.naic.org/state_web_map.htm
It's called business liability insurance, and most insurance companies offer it. Just look up a trusted insurance company and give them a call. Your state insurance department is your best resource for insurance-related questions and concerns. Find information on insurance companies and agents, rate quotes and comparisons, insurance buying tips, claims filing information and much more! State Insurance Department websites: http://www.naic.org/state_web_map.htm
You need a garage keepers liability policy which will include coverage for the motorcycles in your possession, liability while testing them, liability for the premesis and your work, etc. If you have employees you will also need work comp insurance. If you are just starting this business up, I would estimate 1% of your total gross reciepts as insurance costs, with a minimum of $2,000 annually.
No, you don't have to be bonded to accept a cleaning job in someones home. You can just do so at www.wikihow.com/Start-a-House-Cleaning-business Bonding isnt necessary, so much as it is an insurance in the event of. You will find more people willing to hire you, if you are prepared for liability, so no one has to drag out court costs. http://www.ehow.com/how_2294068_get-bonded.html
While it depends on the terms of the policy and the coverages/endorsements the policy owner purchased, General Liability insurance is designed to provide financial protection in case your business is ever sued or held legally responsible for some injury or damage. General Liability typically includes liability protection for your company's completed products or services. Often General Liability is meant to provide protection for the location of your business (your office), not out in the field…
The cost of Public liability insurance varies quite a bit, depending on the nature of the business you are in, and the amount you are willing to pay as a deductible. Costs can be as high as a few hundred dollars per month, so it is best to speak to an insurance broker to assess your needs and find the best rates.