Owners of dry cleaning services and laundromats have taken a big risk to open and operate their businesses. You might think it makes sense to purchase standard business insurance, but what you really need is an independent insurance agent who has experience working with businesses like yours. Rather than placing the fate of your livelihood in the hands of cookie-cutter coverage, an independent agent can work with insurance companies who specialize in coin laundry insurance or dry cleaner insurance that is truly tailored to your specific business.
dry cleaners face daily risks, such as these:
- Slips and falls due to wet or uneven floors
- Fires due to excess lint in dryers, chemicals on clothes placed in dryers, flammable items placed in dryers
- Children playing, running and touching equipment
- Security concerns including theft, vandalism and other forms of crime
- Impeded customer safety due to insufficient lighting, other customers, parking lot incidents etc.
- Equipment breakdown
- Floods, power outages or weather events that force you to cease operations
- Electrical problems
- Property damage due to tornadoes, hail, windstorms, flooding or heavy rain
What Kinds of Insurance Do Dry Cleaners Need?
While fires may be considered the most financially devastating risk that operated laundries and dry cleaners face, customer slips and falls are by far the most prevalent incidents. You need comprehensive dry cleaner insurance in order to protect your business from all of the potential problems that can arise.
Business property insurance provides coverage for your operated washer and dryers, commercial laundry machines, dry cleaning equipment, computers, and more. If these items are damaged by fire, theft, vandalism or other covered perils, your commercial property coverage may pay for repairing or replacing damaged items.
- If you rent your space, your lease may require you to buy property insurance for the building. Be sure to review your lease carefully and consult an attorney to be sure you are complying with your lease agreement.
- If you do not own your building, you still need coverage for the contents, including washing machines, dryers, flooring, fixtures, decorations, computers and other office equipment, tables, chairs, and any other furniture.
- Be sure to discuss with your agent replacement cost versus actual cash value property coverage. How you insure your business property could make a huge difference in how you are reimbursed in the event of a loss.
Owning a laundry business means you’ll have people coming and going, washing and drying their clothes. What if someone was to slip on a wet floor and hurt themselves or burn themselves on a hot machine you left unattended? Public Liability can help to protect you against the cost of claims resulting from these sort of events. This insurance can help cover you against compensation claims should a member of the public accidentally injure themselves due to your negligence at work.