I have called to a few insurance companies to get a general liability insurance, and I have been turned down, because I have barely any experience in the cleaning business. How then can I start and get an insurance at the same time? Do I have to lie to them and tell them that I have 10 years of experience?
Yep, no standard carrier is going to write liability policy on a NEW business. So, you're trying to call companies - Nationwide, State Farm, Farmers, etc. That's where you're going wrong.
You need a local, INDEPENDENT agent, who can access the excess market. It's likely going to cost you $1500 for the first three years.
Lying about the time in business isn't going to do you any good, because they'll all want three years of "loss runs" from your prior insurance, to PROVE that you've had insurance, for the past three years. If you can't cough up the loss runs, they will treat you like a brand new business.
You can find a local independent agent near you, in the yellow pages, or at www.iiaa.org
What you need is commercial insurance.
Commercial insurance is insurance for a business. In fact, it is one of the most important investments a business owner can make. Commercial insurance can be instrumental in protecting a business from potential loss caused by unforeseen and unfortunate circumstances.
Commercial insurance can provide valuable protection against such things as theft, property damage, and liability. It can also provide coverage for business interruption and employee injuries. A business owner who chooses to operate a business without insurance puts his enterprise at risk of losing money and property in the wake of an unfortunate event. In some situations, a business owner may even place personal money and property at risk by failing to secure adequate commercial insurance.
Finding commercial insurance can be as simple as locating a reliable agent who specializes in commercial insurance. It is best to interview several different agents and select a licensed, knowledgeable agent with whom you feel comfortable. The agent you choose should be able to discuss different types of commercial insurance with you and assist you in selecting the best type for your particular needs.
The Internet is an excellent resource for finding insurance agents. You may also find information about agents through local business networking organizations. Business contacts, especially those in related industries, may be able to provide agent referrals as well.
Depending on your particular business, there may be some types of commercial insurance you don’t need. For example, you may need commercial property insurance, but not commercial auto insurance. Keep in mind, however, that it is wise to learn about the different types of commercial insurance, even if you don’t need them all. As your business grows and expands, you may discover that your insurance needs change. Obtaining preliminary information now will provide you with the basic information you need to decide whether or not to add to or change your policy later.
Though most businesses are able to obtain commercial insurance with ease, for others, securing insurance is difficult. For example, a business that has already experienced a considerable loss may be viewed as a high-risk company. To insurance companies, significant previous losses translate into a heightened risk of high or frequent claims.
A business may also be considered high risk if it is fairly new or involved in operations that make frequent insurance claims more likely. In such situations, securing commercial insurance is not impossible. However, your agent may need to provide you with options for finding insurance through non-standard avenues.
To get various quotes with ease check out the links below:
Randy C.
You just need a business policy. What kind of cleaning business is it? Is it a Dry Cleaners? Almost anyone will take that type of business.
If your business is cleaning other people's homes that is a business that few companies will take so you will probly need to see a broker. That business is more risky for insurance because there is more chance of someone getting hurt or something being stolen.
Look for a commercial insurance broker.
try commercial insurers like Aon or Tradex.
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