Many people establish a cleaning business as a part time venture and before they know it, they have expanded without considering the different but vital cleaners insurances they need. Failure to have adequate insurance can be a costly lesson and could compromise your business before you even get fully off the ground. Therefore, it is important to consider the vital insurance issues and address them to ensure that your business is safe and viable in the long term.
1. Liability Insurance:
Liability cleaner insurance is not just needed for property damage. While there is the potential for damage to be caused due to the harsh chemicals often used, the most pressing need for liability insurance is for accidents or injuries. For example, if you are cleaning floors in a clients home or business premises and someone slips on a damp floor, you could be liable for any medical bills and pain incurred. This could range from basic hospital treatment through to a covering more serious medical issue which could require months of rehabilitation. This is the main reason why liability insurance is mandatory for all businesses.
2. Tool Insurance:
Whether you are using basic cleaning tools or more specialist equipment, you should consider your tools when purchasing cleaners insurance. Collectively, your tools may cost a large sum, which may be extremely difficult to replace in the event of damage or theft. Additionally, without your tools, your business would grind to a halt, leaving your customers disappointed and looking for a replacement service. This could lead to a long term detrimental effect on your business, costing you a fortune. Insurance provides the protection and reassurance that should your tools be lost, damaged or stolen, they can be quickly replaced to allow you to continue working with the minimum of disruption.
3. Workers Compensation:
Once your business begins to expand and you take on employees, then you will need to purchase workers compensation insurance. All of the Australian states require businesses to obtain adequate workers compensation insurance, whether your workers are part time, temporary or voluntary. This insurance provides you with financial protection, should your employee be injured or become ill due to the job.
4. Income Protection:
When you are running your own business, it is very easy to forget that you are your company's number one worker. This means that you will need to protect your income in the event that you are sick or injured and unable to work. Whether this is related to an on the job injury such as a slip or fall, or related to a medical issue, income protection will ensure that you do not suffer financially from being unable to work.