Owning a window cleaning company be challenging. You have to wear multiple hats, from window cleaner to office manager and everything in between. In addition to knowing how to clean windows streak-free every time, you also have to know the ins and outs of marketing your business and keeping good records for the Internal Revenue Service. Knowing what type of insurance you need can be tricky as well if you don't know what to do.
First and foremost, every window cleaner needs liability insurance. This type of coverage is meant to help if you or a member of your crew damages something in a customer's house or place of business. It could be anything from breaking a window to knocking a valuable vase of an entry table. A liability policy also covers you if a person trips on any of your equipment or slips on any water spilled by you.
Make sure you accurately explain to your insurance agent what type of window cleaning you do, however. Most residential cleaners are covered under a janitorial policy. If you clean windows higher than three stories, however, you will need a high-rise policy, which is much more expensive.
Most liability policies also cover your equipment against damage and theft. The amount of coverage is typically small, though. If your equipment value exceeds the dollar amount of what's typically covered, you can add a rider to the policy.
Worker's Compensation Insurance
A worker's compensation policy covers injury to your team while cleaning windows. It is common practice to exempt the owner from the policy to make it more affordable. Talk to your insurance agent about how to write your worker's comp policy so that it is most beneficial to you.
Short-Term Disability Insurance
Many window cleaners choose to purchase a short-term disability policy to augment any worker's comp claims. This type of policy can help an injured window cleaner pay monthly bills and purchase groceries when they are unable to work due to an injury.
Key Person Insurance
Key person insurance is a type of life insurance policy. The policy covers the death of a key person in a small business, usually the owner. If your window cleaning company would struggle to stay afloat if something happened to you, you may want to consider getting a key person policy to help in a difficult time.
Part of owning a window cleaning business is making sure that your business, your crew, and your clients are covered in case of an accident. Proper insurance coverage can help.
To learn more, contact a business insurance company.