Dry Cleaners

Running a dry cleaning business can be a great way to make a living. You don’t have the hassle of worrying about significant inventory—but you do have other risks. You handle large amounts of customers’ clothing. Your business is also based on optimally functioning expensive
equipment. As the owner, you want to make sure your business is optimally protected. To do that you need to craft an insurance package unique to your business. So, what type of insurance do you need?

Consider a Business Owners’ Policy


As a small business owner, what you have to pay for coverage is a concern. But affordable options do exist. You can combine industry-specific coverages into a specialized package called a Business Owners’ Policy (BOP). A business owners’ policy is a type of packaged business insurance that includes commercial property insurance, general liability insurance, and business interruption insurance. This is a policy that an insurance company will offer small and medium sized businesses, often at a lower cost than purchasing each insurance coverage separately.

General Liability Insurance


General Liability Insurance is a foundational plan that protects you against claims of third-party bodily injury, third-party property damage, and accusations of libel, slander, copyright infringement, and other advertising injuries.

Commercial Property Insurance


The building, your washers and dryers, and other expensive equipment need to be insured with commercial property insurance. If your business is damaged in a storm or leveled by a tornado, commercial property can help repair or replace the building and damaged items.

Business Interruption Insurance


If your property is damaged and is unusable, business interruption insurance can help cover lost profits, payroll, taxes, the cost of a temporary location, and other operating expenses until you’re up and running again.

What other types of coverage should you consider?


Workers’ Compensation Insurance: If you hire employees to help run your laundromat, you’re required to obtain workers’ compensation coverage in almost every state. This covers their medical bills and lost wages if they’re injured on the job.

Commercial Auto Insurance: If you offer laundry delivery services and deliver personal items to client homes, you need to make sure your company vehicles are insured with commercial auto coverage.

Umbrella Insurance: Also referred to as Excess Liability, this policy covers claims that go above and beyond the policy limits of other policies you may pay for (such as general liability).


How Much Does Dry Cleaners Insurance Cost?


The bottom line is always an issue when it comes to running a business. But a good laundromat insurance policy isn’t simply one more cost—it’s a measure that could help keep your business running. The cost of laundry insurance varies depending on numerous factors, including:
• The size and age of your property
• The number of employees you hire
• The cost to replace your washers and dryers
• Annual profits/revenue of your laundromat
• The insurance policies, deductibles, and limits you choose

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