Insurance Canopy is an expert and leader in business liability insurance and has been providing insurance for small businesses for the past 15 years. One of the industries Insurance Canopy specializes in covering is cleaning businesses. We offer insurance for carpet cleaners, house cleaners, janitors, maids, and window cleaners. We recently added bonding to satisfy our customers' needs.
Today we'll cover the details of our cleaning business insurance policies, how a janitorial surety bond works, and how you can get insured today to protect your cleaning business.
Cleaning Business Insurance
Cleaning business insurance is available at affordable monthly pricing starting at $26.67 per month. The total cost of your policy will depend on the state where your business operates, how many employees you have, any past claims, and any optional endorsements you add on to your policy. This policy is a general liability and professional liability policy.
A general liability policy protects your business from property damage claims, bodily injury lawsuits, and other potential risks associated with your small business. A professional liability policy protects you from mistakes made by you or your employees. For example, if an employee stains your customer’s carpet on accident, the professional liability part of the policy can cover you for this.
Receive Instant Coverage
Instead of requesting a quote, you can fill out an online application in less than 10 minutes and receive instant coverage. This policy is active for one year and you can select either a monthly payment plan for $26.67 per month, or you can pay $320 upfront for the entire year. Whether you pay monthly or annually, the base price is the same.
You can add optional endorsements to your policy at an additional cost. We offer tools and equipment coverage ranging from an additional $40–60 per year. This coverage can protect your cleaning supplies should they be stolen or damaged.
We also offer cyber liability insurance for an additional $99 per year. We recommend purchasing this additional coverage if you store client information online. This can include names, addresses, contact information, payment information, and more. If a data breach occurs and this information is stolen, your business can be held liable. Cyber liability insurance can protect you from paying hefty fees, judgments, legal costs, fines, and processor fees that you become legally liable to pay.
Janitorial Surety Bond
Now that we have discussed a cleaning business insurance policy, let’s explain how a janitorial surety bond works. A bond is a promise by a bond company to pay a customer if your cleaning business fails to meet its obligations. The bond company will cover the incident, and you (the cleaning business owner) have to pay the bond company back. This is because a bond has an indemnification agreement saying the cleaning business has to pay the bond company back.
Surety Bonds vs. Insurance
Bonds are slightly different from insurance. While both are meant to reduce a risk to a company or owner, bonds are generally meant to protect clients or customers. Another way to think of it is insurance protects the business itself from a loss, where a bond protects the person a company is working for. Clients are attracted to contractors when they list bonding, because it provides them a layer of protection—assuring the job will be completed correctly. Bonds create additional trust between you and your customer, assuring them you will complete the required work on a project.
Bonds and insurance can both have claims filed on them from either party—with proper documentation—but the attraction to a service provider who is bonded comes back to the general ease of being able to file a claim on a bond and be financially restored.
Make sure to include your insurance and bonding details in your marketing efforts. This additional trust will go a long way in bringing in new business and keeping your existing clients. Check with your insurance and bonds provider to see if they have a trust logo that can be added to your business card, website, and promotional materials.
How to Purchase a Bond
With Insurance Canopy, you have the option to purchase a bond immediately after you have purchased an insurance policy. The confirmation screen for your insurance will ask you if you would like to purchase a bond. If you do not wish to purchase a bond at this time, you can simply log in to your dashboard at any time during your insurance contract and purchase a janitorial bond.
We offer two different bond limits to fit your specific business needs. The first bond starts at $134 per year and is for a $5,000 bond. The second bond starts at $181 per year and is for a $10,000 bond. Pick which one will work best for you and your cleaning business. If you have questions about bonds, contact our customer support team!
Get Insured and Bonded Today
We hope this article was useful to you in understanding how insurance and bonds go hand-in-hand. Purchase insurance and bonding so your cleaning business has the protection it needs and you can operate your business with peace of mind. If you have further questions about our cleaning business insurance policy or janitorial surety bond, feel free to reach out to our licensed insurance agents today. Get started today by filling out an online application and add a surety bond to your insurance. We wish you the best of luck with your cleaning business!