From the monthly archives: February 2016

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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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