From the monthly archives: November 2013

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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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