Since the resurgence of the economy following the pandemic, the insurance industry has been growing. Every business requires it. Whilst not a legal requirement, even the briefest of inspections will be followed by the realization that to go without these financial shields exposes oneself to too many risks and liabilities. Ultimately, the price of insurance pales in comparison to the cost of an unforeseeable liability against an unprotected firm.

But no singular insurance policy will provide protection against all the liabilities a pressure washing business could possibly be exposed to, which necessitates the use of a number of insurance policies in order to gain adequate protection. Therefore, how many situations such a company will be protected in is determined by the number of active policies they possess.

This article will explore some of these situations under the assumption they have the standard policies for a pressure washing business.

Bodily Injury & Property Damage 

The most standard policy held by businesses in almost all industries, general liability insurance provides protection against exactly what it sounds like it does: the general risks faced by a business merely carrying out its operations. This includes but is not limited to injury and damage (both legal and property).

Though not a legal requirement, this type of insurance is seen as a third leg for companies as it is so myopic not to ensure you are protected by it. For its low price, it provides such broad and comprehensive protection against a whole manner of liabilities that could cost the affected company in excess of hundreds of thousands. This policy safeguards a company from being wiped out by a liability.

On average, this type of insurance only ends up costing the business between $500-$1500 a year in expenses, which is miniscule when considering the huge dent a lawsuit can leave in a business’s finances. The cost of general liability does change depending on a few factors, but is unlikely to stray far outside of this range.

It is worth noting that, as is true for the rest of the policies on this list, companies can take advantage of a “business owner’s policy” (BOP) to reduce the cost of insurance. This allows companies to clump a number of different coverage plans together, picking and choosing based on the liabilities they need to protect themselves from. 

Theft Of Company Assets

One common piece of coverage that pressure washing companies employ is crime insurance. This precludes them from suffering any serious financial losses as a result of employees stealing their assets.

This insurance is particularly useful for pressure washing companies, in which the employees will often be disclosed the storage location of the company’s expense equipment. It enables businesses to recover the money lost from machines, or cash, that has been stolen from within the company.

Damage To Company’s Equipment

Another form of insurance seeking to protect the expensive equipment associated with the pressure washing business, this form pertains specifically to damage done to these machines. Given the specialist nature of these machines, they can be extremely expensive, hence the desire to protect them against these multiple forms of damage.

Furthermore, this coverage provides compensation to companies if these machines are damaged by a number of conditions. This includes, but is not limited to damage by: vandalism, storms and explosion.

Risks Against Company Vehicles

Another key set of situations which pressure washing companies should seek to protect themselves from with insurance are those that relate to the risks associated driving a company vehicle. These risks are covered by commercial auto insurance, which protects against a variety of vehicles from these risks, such as cars, trucks and even trailers.

Given the dependence of the pressure washing industry on vehicles in order to move their products around, it cannot be forfeited. This especially true as the state has mandated that businesses using public road require it too.

Closing Statement

The Really Useful Information Company’s (TRUiC) article on the types of pressure washing insurance that companies in the industry should look into is an extremely useful resource. It effectively builds on this introductory piece to provide a more comprehensive rundown of this subject.