How to Buy Insurance for a Pool Cleaning Business
No matter what type of business you own, insurance coverage is vital to protect its financial well-being. Purchasing coverage for buildings, equipment and liability will protect you from the risks, known and unknown, that go hand in hand with business ownership. Here we will discuss how to purchase insurance for a pool cleaning business, including how to find an agent and evaluate coverage needs.
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Things You'll Need
- Financial statement (balance sheet, income statement)
- VIN Numbers for all company vehicles
- Driver license numbers for all employees
- List of equipment to be covered
- List of all owners and partners
- List of all lienholders of business property
Instructions
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Find some commercial insurance agents in your area. Ask friends and colleagues for referrals. Check the Yellow Pages or do an Internet search for "commercial insurance, [your location]." Consult the National Association of Insurance Commissioners website and select your state to get current information on agents and insurance carriers (see Resources below).
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Gather your business-related information and either call an agent for a quote or set up a consultation with the agent to review coverages, answer questions and get a thorough understanding of your insurance needs. Prepare to answer in-depth questions about your pool cleaning business operations, including what kinds of contracts and waivers you use, safety procedures, accident prevention and other pertinent details
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Get quotes from several insurance agents and their carriers (companies). Compare quotes to get the best coverage and protection for your insurance dollar. Research the insurance carriers that you're interested in to learn more about their financial ratings and stability. Some lienholders and even customers may require that you provide proof of coverage with a company that has a certain rating.
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Select the quote that makes the best sense for your pool cleaning business. Purchase your policy. Request certificates of insurance that you may need for lienholders, clients and other parties
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Tips & Warnings
Tohelp ensure a successful long-term insurance relationship, meet your agent face to face, as it gives you the opportunity to determine whether there is business "chemistry" and to see first-hand what kind of office your agent runs.
To maintain the proper level of protection, make certain that you are purchasing coverage for all aspects of your business, including property, liability, business income, business auto,and coverage for any other specialized aspect of your operations.
Resources
- Photo Credit http://images.50below.com/facility/sandyspoolservice.net/weekly-service-CLEANING2.jpg
