As a window cleaner, you have a lot to think about when it comes to running your business. From marketing to managing your finances, there's a lot to keep track of. One important area that is easy to overlook is insurance. There are several different types of commercial industry insurance that every window cleaner needs in order to protect themselves, their employees, and their business.
Liability insurance is one of the most important types of commercial industry insurance for window cleaners. This type of insurance protects you from claims of property damage or bodily injury that may occur as a result of your work. If one of your employees accidentally breaks a window while cleaning it, liability insurance will cover the cost of repairs. Likewise, if someone slips and falls on a wet floor after you've cleaned the windows, liability insurance will cover their medical bills as well as manage any potential 'slip and fall' lawsuits. Without this type of insurance, you could be on the hook for thousands of dollars in damages or more.
Workers' Compensation Insurance
Another important type of commercial industry insurance for window cleaners is workers' compensation insurance. This type of insurance covers medical expenses and lost wages for employees who are injured on the job. If one of your employees falls off a ladder and breaks their arm, workers' compensation insurance will pay for their medical bills and a portion of their lost wages. In some states, workers' compensation insurance is mandatory for businesses with employees.
Workers' compensation insurance is particularly important for window cleaners. While most people imagine window cleaners falling several stories from a failed bosun chair or a suspended scaffold, an analysis of the Occupational Safety and Health Administration's data shows only 62 deaths over a 15-year period. Window cleaner injuries are just as likely to occur while doing commercial route work from the ground.
Key Man Insurance
Key man insurance is a type of life insurance that is taken out on key members of a business, such as an owner or CEO. If the key person dies or becomes disabled, the policy will pay out to the business so that it can continue to operate. For businesses that are heavily dependent on one person's expertise or abilities, key man insurance can be crucial to ensuring the survival of the business.
As a window cleaner, it's important to have the right commercial industry insurance in place to protect yourself, your employees, and your business. Liability, workers' compensation, and key man insurance are all essential types of coverage for any window cleaning business. Don't wait until it's too late. Make sure you're properly insured before something happens that could jeopardize your livelihood.
For more information, contact a company such as Allied Insurance and Financial Services.