Coin-Op Laundromat Insurance
Making the decision to open your own coin operated laundromat requires a huge investment. You have to think about the amount of money you will pay to buy or lease the building. Then, you have to factor in the cost of your build out as well as the washers and dryers. Finally, you have to consider the cost of all of the extras that you include such as vending machines, bill changers, tables, chairs, flat screen TV’s etc.
The simple fact of the matter is that you have a great deal riding on your business. For this reason, Coin-Op Laundromat insurance a definite necessity. With so much to lose, you have to make certain you are adequately protected with the best possible coverage.
Securing the right commercial laundry insurance is easy when you choose Brooks Waterburn Corp. Brooks Waterburn specializes in protecting Laundromat owners like you. We insure over 1,000 locations nationwide and have been in the business over 50 years!
Your Brooks Waterburn Insurance agent will take the time to help you evaluate your specific insurance needs in order to provide you with an insurance policy that is specifically designed for the laundromat industry. In addition, you agent will also be available to answer all of your questions and address any concerns that you may have regarding your coin-op laundromat insurance coverage.
Choosing Ideal Coverage
First and foremost when it comes to determining the coverage options that are right for you one must consider “If a fire hits my laundromat, how much will money will I need to rebuild it exactly as it was before the fire. This can be a confusing process. Take the time and go thru the valuation with one of our representatives. They are trained to give you the proper limits and make sure your business is protected.
Be careful about relying on the lender to determain the insurance requirements. They are only concerned about protecting how much they lend you. They may not be taking into account your contribution. In many cases like this, you would be severly underinsujred!
Once you have secured the best coverage for your building and all of equipment, you must also include protection in case you get sued. By far the most frequent type of claim we incur in the industry are slip and falls The best way to protect your business is through adequate liability coverage. This will make sure you are protected in the event that a claim is made against you for property damage or injuries that occur on your premises. In the event that an accident happens and you find you have to defend yourself in court, the legal fees alone could be enough to force the closing of your laundromat doors.
Liability insurance will help you with the cost of medical bills, settlements and judgments that you are required to pay. In addition, it will also pay for legal fees and other court costs, even if you are determined to not be at fault for the claimed incident.
Another important type of coverage that you will want to consider, especially if you have employees that work for your laundromat is workers compensation insurance. Whether you have attendants, managers, or other employees helping you operate your laundromat, you need to make certain you have the right coverage in place if one of these employees is injured during the course of the job.
With this type of financial support, you are sure to be able to get back on your feet with the doors of your laundromat reopening as quickly as possible following a loss or claim. Your Brooks Waterburn Insurance agent will explain all of the coverage details and guide you through the process of choosing the coverage that best suits your needs as well as your budget.
The truth that you have to face is that there is no way that you can be prepared for all of the things that can go wrong when you own a business. Running a coin-operated laundromat means that you have a number of unique risks about which other companies do not have to worry. Therefore, it is vital that you have your business protected from all angles.
Click on the quote request button now before it is too late. A Brooks Waterburn Insurance expert will contact you quickly to discuss the details of your no obligation commercial laundry service insurance quote.