Insurance for janitors
Small business insurance means financial protection. When you get janitorial insurance coverage, you do not have to worry about paying out-of-pocket if something goes wrong because you are financially protected. Having the right types of business insurance not only financially protects you, it also shows potential clients that you are trustworthy, making them more likely to use your janitorial services.
Whether you are a one man shop or have ten employees working for you, you need cleaning business insurance to stay safe from potential risks.
Insurance requirements for janitorial services
When you own a janitorial business, you need to protect yourself with different coverages for different risks. That way you won’t have to pay out of pocket if something happens. Usually, you’re responsible for paying financial claims if someone files against you. And anyone can file a lawsuit these days, even if you didn’t do anything wrong — which is it’s good to have insurance.
What types of insurance does a janitor need? That’s easy. You’ll need to get cleaning business insurance that protects you, your employees, and your business. And there’s an insurance policy for each of those things. Keep reading!
Janitorial liability insurance
General liability insurance is a good baseline insurance to start with. Also known as slip and fall insurance, a general liability covers you if someone (other than an employee) sues you claiming they were somehow injured.
General liability insurance covers:
- Third-party bodily injuries
- Accidental property damages done while working
- Legal fees
- Legal judgments
- Libel and slander
- Copyright infringement
Let’s say an employee forgot to put down a wet floor sign and someone slips, falls, and hurts themselves. General liability insurance will pay for their injuries, as well as cover your legal fees if they decide to file a claim against your janitorial business.
On average, janitorial general liability insurance hovers around $45/month. That’s only $540 a year!
Janitor workers’ compensation insurance
Got employees? Workers’ comp insurance is required in most states so be sure to check your state to make sure you are following the law. Workers’ comp covers your employees in case they were to get hurt or ill while working on the job. Most businesses expect you to have workers’ comp insurance, making it so they will not hire you if you do not have this type of coverage.
Workers’ comp covers:
- Employee medical bills
- Employe lost wages
- Employee injury lawsuits
Here’s an example. One of your employees falls ill from smelling a cleaning solution. Workers’ comp insurance will pay for their medical bills and lost wages should they require time off work to recover.
If you’re working solo, you may only pay around $63/month for workers’ comp insurance, which averages around $750/year. With employees, you might expect to pay under $2,000 for an annual workers’ compensation policy.
Property insurance for janitors
Do you own or rent a physical space? If you do, then you are going to need property insurance to help protect your business equipment and inventory. This type of small business insurance helps protect the property you need to operate your business – inventory, equipment, furniture, and building structures.
Property insurance covers:
- Damaged equipment
- Damaged inventory
- Lost income
- Operating expenses
Let’s say you rent a building, place all of your business property inside, and a fire destroys everything. A property insurance policy will help pay to replace all of your destroyed business property, as well as the costs associated with helping you get back on your feet.
Some janitors pay as little as $30/month for property insurance. However, the average janitorial property insurance cost hovers around $46/month, or $552/year.
Janitorial tools and equipment insurance
Also known as inland marine insurance, tools and equipment insurance protects your work gear on the go. Commercial property insurance is great to have, but the coverage ends once you are 500 feet away from your business premises. As a janitor, you bring your equipment and supplies to other locations, so this is a great policy to consider.
On average, tools and equipment insurance for janitors costs $20/month, which is only $240/year!
Janitorial bond insurance
Surety bonds cover:
- Employee theft – money or property
- Achieving client contracts
If one of your employees steals money or property while cleaning a client’s business, a surety bond will pay to cover the cost of the theft. That’s what makes janitorial insurance and bonding so important.
You can expect to pay around $8 a month for a janitorial bond.
Additional insurance policies for janitors
Business auto insurance – Drive a company-owned vehicle? Most states now require you to carry business auto insurance. You might expect to pay an average of $115/month janitorial for commercial auto insurance, or $1,380/year.
BOP insurance – You can choose to bundle your general liability and property insurance coverages into one convenient insurance plan to save money. Janitor BOPs average $40/month, which is only $480/year.
Umbrella insurance – A commercial umbrella insurance policy covers your losses that go above and beyond your current policy limits. Umbrella policies for janitorial professionals average $65/month, or $780/year.
Janitorial insurance cost
How much does janitorial insurance cost? It depends. The answers to the following questions and more will help determine the amount of your insurance premium.
- What is the value of your cleaning equipment and property?
- How many employees do you have?
- What types of projects do you work on?
- Where are you located?
- Do you have any company vehicles?
- What is your annual revenue?
- Do you have a history of claims?
- What types of insurance coverage do you need to fully protect your business?
Overall, janitorial insurance can cost as low as $20/month.
Take a deeper look at costs:
Save money on janitorial insurance
At Pogo, we understand that every small business is unique. That is why we offer customized quotes – so you do not pay more than you have to! Simply fill out this form to get the best janitorial services insurance at the right price.