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Business Insurance Solutions
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Business Insurance is vital to protecting your mobile car wash and detailing venture. For most small business owners, however, understanding the different types of business insurance products can be a little confusing. This is why it is important to work with an insurance broker who you feel comfortable with and trust. Finding an insurance broker who will partner with you and your business will pay tremendous dividends over the long haul.
An experienced, reputable insurance broker will provide you with a list of insurance products that are applicable to your mobile car wash business. If you feel that your broker is just showing you boilerplate products, you may want to consider switching brokers.
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It is in your best interest to find an insurance professional who works with multiple insurance companies. This breadth will help you in many cases find better premiums. An insurance agent typically works with only one company while a broker works with several.
Business Liability Insurance - Garage Keeper's Policy
What happens if you accidentally damage a customer's car or truck while washing or detailing? Believe it or not, finding insurance to cover these accidents can be difficult. There is, however, one kind of liability insurance product you should check out for these types of accidents. A Garage Policy will cover physical damage which your business caused to a customer's vehicle. Your Garage Policy will also have a Commercial Liability clause that protects your business in the event you accidentally injure someone on the job.
Business Equipment Insurance - Property Coverage
You should consider purchasing business equipment insurance for your more expensive assets such as your detailing trailer and detailing equipment. Make sure that your insurance covers your property both when stored as well as at customer locations. There can often be some confusion surrounding your principal place of business in mobile car wash and detailing.
Business Auto Insurance
You will need a vehicle policy to cover liability and physical damage on your mobile fleet. If you already own and insure your vehicle through a personal policy, discuss with your insurance broker your intended business use of the vehicle. She can then direct you whether you need to take out an additional business auto insurance policy on the vehicle. If you hire employees and they use their own vehicles in your business, you will also want to make sure that you have coverage for what is known as Employer's Non-Owned Automobile Liability.
Business Health Insurance
Just because you are going into business for yourself doesn't mean you should ignore health coverage. You never know when the unexpected can happen and you should have at least some basic health coverage in place to cover a worst-case scenario. Depending on the type of business entity you choose, health coverage can sometimes be deducted as a business expense.
Workers Compensation Insurance
If you have employees, you will need workers' compensation coverage. Workers' liability insurance covers your business against liability for injuries to your employees while they are on the job.
Since you are most likely just getting started in your business, you may be tempted to postpone purchasing commercial business insurance. We strongly encourage you to sit down with an insurance broker and discuss options and business insurance quotes. If you plan to hire employees, you will definitely need certain insurance coverage to comply with state regulations. Take the time to speak with your insurance broker - you will be surprised at how affordable most business insurance solutions can be.
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