Ohio Laundromat Insurance
Laundromat Insurance is available to those individuals that own and/or operate laundromats. They can be the coin operated laundromat or the laundromat where you provide the service of cleaning the customers property.
If you own and operate a laundromat, you will need specific insurance coverage designed for your business. You will need to make sure that all your property is properly covered. If you own the building, you will want to make sure that the building is insured as well as all your business personal property. Your business personal property would include all your washers and dryers, folding tables, carts, furniture, TV, phone, computers, etc.
You will also need to have general liability insurance in place to protect you from claims that occur such as property damage to a customer’s clothes or someone getting injured on the property. The producers and account managers at L Calvin Jones and Company will review with you all of these coverages and explain how they can help you if you have a claim. Some of the coverages you may need to ask about include:
- General Liability – Insurance that offers protection against third party claims for injury or bodily harm, property damage, and negligence. General liability insurance may also include the enhancements and additional forms for – Additional Insured, Waiver of Subrogation, and Primary and Non-Contributory clause.
- Business Property – This would include your Building and your Business Personal Property. Business Personal Property would include your equipment, furniture, and fixtures. You can add Equipment Breakdown and Property Enhancement form which can give additional coverage for Sewer and Water Back-up, Sign Coverage, Accounts Receivable, and many other coverages.
- Business Income and Extra Expense – Coverage for the loss of income that a business suffers after a disaster due to the loss of your place of business. It would cover the fixed cost of operating expenses and the cost if you have to move to a temporary location. Extra Expense would be the reasonable expense that would allow the business to continue operation while the property is being repaired.
- Commercial Auto – Includes the Business Auto Enhancement which can include the Additional Insured, Waiver of Subrogation, Rental Reimbursement and other coverage.
- Workers Comp – Provides coverage for wage replacement and medical benefits to employees who are injured in the course of their employment.
- Employers Liability – Protects employers from liability coming from disease or injury to an employee due to workplace conditions or practices.
- Commercial Umbrella – Commercial umbrella coverage comes into play when where your commercial general liability and auto liability insurance policies limits have been used up.
- Bailee Coverage – Depending on the type of laundromat this coverage may be needed if customers drop off their property to be cleaned by you. Bailee coverage would take care of the damages of a customer’s property that is left in your care, custody and control.
Many of the insurance companies that we represent offer special programs and enhancement forms for laundromats that can give you additional coverages that you may need. All of the insurance companies are Best Rated companies, and we can provide you with a copy of their ratings. We will review your coverage with you annually and make recommendations for coverages or changes that may be required. We are available to answer your questions and concerns.
Our producers and our account managers at L. Calvin Jones & Co. will discuss with you all of these coverages that you may need to insure your business to your specific needs.