Thursday, July 14, 2011

Coin Laundry Insurance - Quick Guide

Most people need to have Property and Liability Coverage.  Protection of your Laundromat from fire, vandalism, accidents and natural disasters is a good business practice.  There are five major insurance coverages available - and some would say necessary - for a Laundromat owner to purchase:

1.       property damage
2.       liability
3.       theft and robbery
4.       loss of income
5.       employee dishonesty

Most companies selling insurance for a Laundromat also have available a variety of additional coverages including:

1.       parking lot insurance
          (incidents outside your Laundromat)
2.       extended coverage
          (for additional coverages)
3.       water damage
          (caused by water backing up through the sewer system)
4.       bailee coverage
          (keeping property of others, such as Wash, Dry, Fold operations)
5.       glass insurance for your storefront
6.       store signs (if the wind blows plexiglass out of your sign box)
7.       business interruption insurance
8.       equipment breakdown insurance

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