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9 Replies Latest reply: Jun 25, 2008 11:57 AM by TLRInsnAcc RSS

What type of insurance do I need for my new business?

Essentially Newbie
Currently Being Moderated
I have just established a sole proprietorship residential cleaning business. I have a couple of employees. Recently a local apartment complex has expressed an interest in contracting me to do their move-out empty apartment cleans. I think it is a great opportunity, however, they say I need small business insurance for $ 1 million. I am having trouble finding out exactly what insurance do I need. There are so many different types and I am just not familiar. We are bonded but that's not enough. If someone could let me know all of the types of small business insurance they recommend if I was to do a contract with this apartment complex, I would greatly appreciate it. Thank you in advance!
  • Re: What type of insurance do I need for my new business?
    MRFINANCE Novice
    Currently Being Moderated
    Ask around who has a good insurance agent. He (she) can advise you and educate you. talk to several if you need to .Get a consensus before you buy. You probably also need a good CPA. He (she) can advise you about these thing too!

     

    Joe

     

    Richton Funding
  • Re: What type of insurance do I need for my new business?
    LUCKIEST Master
    Currently Being Moderated
    What type of insurance do I need for my new business

    "I tend to investigate things myself before I let an agent sell me bunch of stuff I don't need"

    "I am having trouble finding out exactly what insurance do I need."

    You have a lot to learn. Every business person should have an Accountant,
    A Lawyer and an Insurance Agent to protect and teach them.

    LUCKIEST
  • Re: What type of insurance do I need for my new business?
    mainstreetifs Novice
    Currently Being Moderated
    General Liability and workers compensation. Not sure what state you are in but Travelers, Safeco and The Hartford have the most competitive rates for cleaning/janitorial companies in my state (CA).
    • Re: What type of insurance do I need for my new business?
      Essentially Newbie
      Currently Being Moderated

      Thank you so much! I was aware of all the types of insurance out there, someone suggested I have a lot to learn, as well as saying I need an agent and a lawyer - I am not a big small business at all, and do not think I need all of that. I agree, I do have a lot to learn, however, at the same time, I was still reluctant to speak to an agent before asking around. Your answer helped a lot, you did not sound patronizing as if you know it all - which I'm sure you know a lot, but you know what I mean:) Thanks.
      • Re: What type of insurance do I need for my new business?
        mainstreetifs Novice
        Currently Being Moderated
        No problem. If you let me know what city/state you are in I can help you find an agent that is experienced helping small janitorial companies and has contracts with the insurance carriers I mentioned. Feel free to email me at mainstreetifs@yahoo.com if you have any further questions.
      • Re: What type of insurance do I need for my new business?
        lalithabrahma Novice
        Currently Being Moderated
        I can relate to what you saying*"I am not a big small business at all, and do not think I need all of that"*
        However as a business owner you must always think from the point of where you want to be instead of where YOU ARE and take action. In my case I was afraid of the cost, possible intimidation by professionals. I also did not know what questions to ask. I was afraid I will have to pay to get my questions answered. You will need CPA, attorney in your business team and you can hire quality business consultants and attorneys at affordable cost. If you are concerned about protecting and growing your business by having access to quality lawfimrs and business consultants, you can sign up for my educational series at NO cost to you at
        www.lalithabrahma.com
        There is absolutely no obligation for you to purrchase anything.

        Hope this helps
        Lalitha
  • Re: What type of insurance do I need for my new business?
    TLRInsnAcc Novice
    Currently Being Moderated
    Hello!

    If the worker are truely employees I think you may want to get worker comp coverage, then health & , disability. Everything is based on what you can afford. Should you like you can go to me website and get more personalized help there. Go to my contact us page and imput your contact info and we'll reach out to you and help you along the way!

    TRL Insurance, Inc
  • Re: What type of insurance do I need for my new business?
    TLRInsnAcc Novice
    Currently Being Moderated
    I forgot to say that we have a contract with and provide benefits for a company that helps janitorial firms get work, bid on jobs, and market their companies at very little cost.

     

    Get in contact with with us we'll the information with you!

     

    TLR Insurance, Inc.

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