During the off season of the winter, you have the perfect opportunity to review all aspects of your business. This season provides time to pay attention to some details that you don’t have time for during spring and summer. A comprehensive review of your insurance policies and coverages should definitely be on your off season “to do list”.
Do These Off Season Inclusions Apply to You?
Some of the standard inclusions in the Commercial General Liability Coverage Form don’t apply to everyone, but you should understand them so you know which apply to you.
Do you rent a warehouse or storage space?
If you do, you need coverage called “Damage to Premises Rented to You”, which is usually part of the standard GL policy. It is also known as fire legal liability coverage and covers fire damage to the landlord’s property due to the negligence of the tenant (you). If you are renting the space year-round, you need coverage year-round. Most likely you have agreed in your lease to provide the landlord proof of insurance. If so, cancelling your insurance for the off-season will be in violation of your lease.
Do you focus on marketing?
Many power washers spend the off-season working on their marketing plan to make next year even better than this one. Where is the liability exposure in that? In our litigious society, everyone sues everyone at the slightest infringement. You should be very careful what materials and methods you use to market your business. Personal & Advertising Injury Liability coverage can help protect your marketing strategy. Another coverage typically included in a Commercial General Liability policy, it provides protection from financial loss due to claims of slander, libel, disparagement, violations of another’s right of privacy or the unauthorized use or infringement of another’s intellectual property, committed by or on behalf of the owner(s) of a business.
Technology has made it easy to copy/paste images, share information and ideas, or post in online chat rooms. Personal & Advertising Injury Liability coverage will pay damages for which you are deemed legally liable if your marketing efforts unintentionally cause loss or injury to a third party. Coverage must be in place when the ad, post or statement is released or published.
Protecting you equipment
If your General Liability coverage is part of a Commercial Package policy, you may also have coverage for your equipment, in the form of Inland Marine coverage. This section of the policy usually covers your equipment or specialized belongings. It provides protection from financial loss due to many covered perils which may include fire, lightning, hail, windstorms, theft, vandalism, riot, explosion and vehicular damage. All of those things are more likely to happen when equipment is not in use. Since this could very well happen, having coverage to protect your equipment while in storage for the winter is important.
Maybe not all of these coverages apply to your operations. It’s important to know which ones you need. Depending on what you do and how you do it, you may have some unique needs that require special protection. It is important to review your insurance protection with a coverage expert. They will be able to advise you of any areas where you have potential financial risks. Enjoy the peace of mind that comes with knowing you’re properly protected. Putting the right coverage in place now will ensure you’re ready for your next season.
As the off season draws closer, don’t just save on holiday shopping! Call us at 1-800-878-3808 to save on the right insurance for your business! We have served mobile cleaning contractors for 40 years and we know what coverages you need.