How do I get quotes for liability insurance for my small cleaning company?

Answer 1

Your best bet would be to consult with a licensed insurance broker in your community. Specifically, you would want a broker who deals in commercial, rather than residential lines of insurance business.

The broker would complete an application for insurance, with you providing answers to the questions. Among the factors with which any potential insurer would be concerned is the legal form of your businessm such as a sole proprietorship, a partnership or a corporation. It would also be interested in knowing factors about the mechanics of the business, such as whether you work for homeowners or businesses, and whether you perform the work when people are present or not. Doubtless, there would be other areas of inquiry.

The broker would then submit the application to one or more potential insurers to determine their willingness to accept you as an insured. If the insurer is potentially interested in issuing a policy, it would respond with a proposed premium and other terms and conditions under which it would be willing to issue a policy. You are free to accept or to reject the proposal, or in some cases, negotiate for a middle ground. For example, if you are concerned with the proposed premium being too high, you may be able to select a greater self-insured retention to lower the premium. A self-insured retention is similar to a deductible. It requires you to absorb the financial responsibility for an occurrence up to a specified amount, and the insurance coverage is not triggered until the claim exceeds that amount.