It’s a given that your business should carry general liability insurance. This will protect you and your business against claims of bodily injury or property damage that result from your business operations. In addition to general liability, here are some situations where other insurance may be needed.
You Engage in Operations With Another Business
When you hire a contractor to do work at your place of business, such as construction or repairs, when an accident occurs from the work they perform, your business could also be at risk. Carrying contingent liability insurance will protect you against any claims that result from injury or damage occurring as a result of another business associated with yours.
You Have Employees
If you have even one employee, your business should carry workers’ compensation insurance. No matter how safe or simple the work your employees perform, accidents can happen. The worker’s compensation will cover any medical treatment or payouts for disability.
You Manufacture Products for Consumer Purchase
You may think your product is safe, but you have no control over what consumers do with that product once it’s in their hands. Product liability insurance will protect you if your business finds itself named in a lawsuit due to damages incurred by a consumer.
Always talk to your insurance provider to make sure your business is covered in every conceivable way against liability.
Everybody likes a clean home and business, which is why professional cleaning companies tend to be so lucrative. Of course, if you’re thinking of starting your own cleaning business, it is important to know how to protect yourself and your employees, as well as your property and your company as a whole. According to Moody, these are the types of cleaning business insurance and bonding you’ll need to get started.
Business Liability Insurance
This is the first policy you should purchase for your cleaning business. It protects against financial loss should one of your clients claim you or your employees damaged his or her property. It provides protection for their property, your workmanship, and any potential medical expenses or defense costs, as well as several other situations.
Company Car Insurance
Chances are, running a cleaning business means you have company cars for you and your employees to travel between jobs. For this reason, it is important to have business automobile insurance. Remember, your personal car’s policy will not cover company vehicles. The policy should cover several situations, including lease gaps, driving other vehicles, and personal injury protection.
Depending on the state you work in and how many employees you have, you may need to provide workers’ compensation coverage. This protection is the law in many cases and is responsible for providing your employees with lost wages and help with medical expenses should they be injured on the job.
Dream big dreams about owning a thriving cleaning company but be sure to do so responsibly. Holding the proper insurance policies shows your professionalism and keeps you safe in the long run.
Workers compensation, considered the nation’s oldest social insurance program, is burdened with issues related to the care and rights of the workforce. Initially introduced as a no-fault program to provide medical benefits and wage replacement in the place of the uncertainty of tort recovery, workers’ comp has seen a significant rise in rates over the years and this is a concern for many business owners looking for effective ways to reduce costs
How to reduce the scope and extent of injuries
There has been sustained and coordinated efforts by many employers to find ways to reduce the amount of injuries sustained in their field of operation. Many service industries rely on safety programs, training and weekly meetings to discuss the “how’s and why’s” that lead to workers suffering both minor and severe injuries and what can be done to keep the number of issues down to a manageable number.
For many workers, injuries are often plain and simply, “just part of the job.” Auto workers fully expect to sustain minor cuts and bruises, simply because of the nature of their work. Restaurant workers expect to get cuts and minor burns because they work around or near hot ovens all day. Office workers expect to get occasional carpal tunnel syndrome because of the repetitive nature of their work.
But serious injuries can and should be prevented. Knowing the dangers associated with certain types of work makes it easier to construct rules, suggestions and methods from preventing them from occurring:
- Don’t lift heavy objects alone; enlist the help of another worker
- Never stack items (such as tires at an auto shop) so high that they can tumble over and injure another employee
- Never put heavy items up on high shelves (for example, in a supermarket) where they can fall and strike a worker on the head or foot and cause injury
- Don’t leave things lying on floors, or near stairways where an employee could have a serious trip and fall causing severe injuries
While this may seem like common sense, the fact is that many businesses allow these types of practices, or don’t realize that these types of behaviors can easily lead to injuries, which can result in a workers compensation claim being filed. While there is no doubt that some workers may make fraudulent claims from time to time, but when a real and serious injury does occur is not the time to consider added safety measures. That is merely putting the cart before the horse.
We’ve broken down common risks that the staffing industry might face and provided a staffing insurance solution to reduce that risk in this staffing insurance infographic.