From the category archives: Brooks-Waterburn Corp Insurance Protection Blog

6/29/2016 10:33 AM

The Smart Approach to Change in the Laundromat Industry

Considering adding debit and credit card options to your laundromat?  Brooks Waterburn Insurance, your Laundromat Insurance experts answer your coin vs. card questions. We protect over 1,000 locations nationwide and would be glad to help you make sure your investment is completely protected.  Give us a call at 888-997-9801 

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2/26/2016 3:15 PM

Top 5 Things to Consider When Purchasing Laundromat Insurance

Most laundromat owners I know (I know over 1,000 of them), really don’t spend much time thinking about their laundromat business insurance.  After all, the renewal is only once a year and they shopped it when they bought the insurance.  Within a few dollars, you are probably getting the best deal, right? Sadly, when I look at a current insurance policy of someone, I almost always see major gaps in coverage that would put in jeopardy their laundromat if they had a claim.  The business could permanently close!  With that in mind, here are my Top 5 Things to Consider When Purchasing Laundromat Insurance: 1.       When You Bought the Laundromat, Did You Buy an Existing One, or Build One From Scratch?:  This is the most overlooked coverage I see when reviewing policies.  Many laundromat owners do some kind of buildout.  Whether they do a renovation or build a laundromat from scratch, the cost of this must be protected.  In almost every ...

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11/21/2013 6:01 PM

Can You Really Re-Open Your Laundromat After a Fire?

One of my clients just had a major claim in his Laundromat and it got me thinking about the Laundromat Insurance coverage we sometimes take for granted.  Our client, located in upstate, NY suffered an electrical fire that destroyed his business.  The fire apparently started in the middle of the night and quickly spread throughout the building.  The fire department called him at home in the middle of the night and by the time he got there, his investment that he dedicated his life to has been destroyed. Before we get to what happened to him here is a little background.  A little over 7 years ago, the Laundromat owner built his Laundromat from scratch in a 3,500 square foot leased space.  Besides equipment, he spent over $100,000 on the build-out.  This included plumbing, HVAC, electrical, new flooring, and walls.  Basically, he took an empty space and made it into a Laundromat.  In addition to the build-out, the equipment cost about $400,000. For the roughly $500,000 i ...

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