No matter what kind of company you operate, business insurance is a necessity. Without it, an accident, disaster or other event could break your business. As the owner of a coin operated laundromat, you have specific risks that you need to cover with your insurance policy.
Understanding the benefits of insurance can help you to make the right policy decisions.
Property Damage Protection
Your equipment is an investment. You spend a lot of money on the machines, on your computer system and on the building itself. If your property is damaged, whether by a natural disaster or vandalism, you have to be able to recover those costs. If you don’t, then you have to pay out of pocket for repairs and replacements.
What happens if a customer is injured on your property? While you may not want to think that this could happen, it is very possible. A spill, for instance, could result in a slip and fall injury. No matter how the injury happens, you could be liable for the person’s medical bills. Without adequate insurance coverage, a lawsuit could damage your business.
Without laundromat insurance, your company could be at stake. You cannot always predict what will happen. Accidents happen and the best way for you to protect your assets is with insurance.