Insurance for commercial cleaning service?

Question

I live in Florida and I got a quote for $636 for 6 months for Liability insurance, is this a good quote or should I keep looking. What is a good price for insurance for a cleaning company with 2-3 employees.

Answer 1

It's a great quote, for liability insurance.  I've never found a carier willing to do it for less than $1500 a year.

Warning:  the policy is AUDITABLE.  That means, you have the price, and you have a RATE.  After the policy is over, the insurance company AUDITS it, it's usually based on PAYROLL, and they can increase the cost if your payroll is actually MORE than you estimated.  So keep the RATE in mind, as well as the PRICE.

For the workers compensation, the minimum premium is going to start at $1500, but I think it will be higher, if you have three full time employees.  Calling them subcontractors won't get you off the hook for benefits, unless they have workers comp policies themselves.  Uninsured subs are considered as employees, for both liability and workers comp.

YOUR AGENT should be explaining this to you!!!

Answer 2

As an Insurance Agent in Ohio and you should never buy insurance based on price always buy based upon the coverages they offer .. remember the purpose of Insurance is to cover any catastrophic event...