Coin-operated laundromats face a lot of the same challenges as many other businesses. You’re liable for slips or other injuries that occur on your property. You’re also liable for damage to any property you own, and sometimes even the property you lease or rent. That includes equipment like dryers and washers, but liability also extends to water heaters and boilers. Depending on the laws in your jurisdiction, you might even be liable for valuable goods that customers leave in your custody in certain situations. That’s why you need basic business insurance, but why do you need specific self-service laundromat insurance?
One of the main advantages of a custom tailored insurance policy is the focus you receive on your specific industry. In the case of self-service laundromats, there’s additional coverage for things like backup in water lines, or damage occurring to customers property while it’s processing. That means that if your washers or dryers rip or scorch customer clothing, you’ll have coverage and options for service recovery.
Another advantage of going with special insurance is having consultants on hand that really understand your business. Self-service laundromat insurance companies want you to have less accidents and losses, just like you do. They use their experience and knowledge concerning the risks most commonly faced by laundromats to analyze your business. Then they work with you to tighten up your operations and improve your bottom line, so reach out and ask about improving your coverage.