Ontario Laundromat Insurance
Insure More Than Your Machines
There are more hazards than suds in a Laundromat. Machine malfunctions, ruined clothing and slip and fall liability are just a few of them. An owner must consider all potential exposures should they experience a loss. For example, a Laundromat owner insures their property - building, contents, washers, dryers and pressers, but experiences a fire that ruins everything. Laundromat Insurance will cover the building and contents; however, as a result of the fire damage, it will take time to rebuild before the operation is ready to be open again.
To protect against this, an owner can opt to purchase "Loss of Income" coverage. With this addition to your policy, there would be coverage for resultant business expenses plus some profit for the period noted on the policy while the business is being rebuilt. As such, it is extremely important to have the correct coverage in place to protect your business' ability to carry on following a loss.
What is Coin Op Insurance?
Coin Op Laundry Insurance is designed to protect exposures related to the business. Insurance provides coverage against bodily injury or property damage that third party customers experience while dealing with the business. In addition, a business owner operates in buildings and uses washers, dryers, presses and a variety of other equipment as the livelihood of the business. They must protect these assets and be able to replace them should they experience an unexpected loss.
Laundromats sometimes accept customers clothing and will offer a cleaning service. This form of bailees exposure is unique and must be mitigated as the owner will accept the customer's goods on their behalf with the purpose of providing cleaning or repair services. Finally, as noted above, companies operate with the purpose of earning income. Should they experience a loss they may be unable to operate and should insure against business income so they can continue to cover business expenses in the event of a loss.
Who Needs Laundromat Insurance?
- Self Serve Laundromats
- Service Provided Laundromats
- Coin Operated Laundromats
- Pressers and Ironing Services
How do I Cover my Laundromat Exposures?
To cover your special risks, you need Eastern Coin Op Insurance, which has coverages that can include:
- General Liability Insurance - protects your business against the high legal costs of bodily injury and property-related lawsuits.
- Property Insurance - your business will likely use cleaning and pressing machines and supplies that need to be protected from fire, theft and a variety of other exposures.
- Fidelity/Crime Coverage - from dishonest employees
- Personal Injury Insurance - injury to employees
- Errors and Omissions Insurance - employees can make mistakes that can end up costing a client a great deal of money. E&O Insurance will cover legal defense costs, and ultimately damages, including court costs up to the limit on the policy.
Upper Canada Commercial Insurance Group Inc Your Ontario Coin Op Laundry Insurance Expert
When you partner with our Business Insurance professionals, you will be talking with an insurance protection veteran who knows your business and how the various insurance protections align with it.
We have protected the businesses of Kingston, Ontario for 5 years and will put together a premiere Laundromat business package for you at an affordable cost.
So, please complete the Find Quotes link above and we will contact you to discuss your needs and provide you with no obligation quotes.
Let Upper Canada Commercial Insurance Group Inc help you understand and protect all of the risks you run and all of the perils your business faces. We will do this with a well thought out, specially designed Coin Op Insurance policy.
All of the liability, property, equipment and machinery and other essential protections will be included in one comprehensive insurance package developed by a top-rated insurance carrier.
We have three locations to serve you in Ontario, and we are well equipped to take care of local, regional, nationwide, and even international insurance needs. We can discuss issues like builders risk insurance, general liability, or any other insurance questions. We are there to serve your needs with expert and experienced professionals. We are an independent insurance broker and no other insurance broker in Upper Canada has access to all the different insurance companies that Upper Canada Commercial Insurance Group has. This ensures that you get affordable rates and the very best policy for your needs.