Ever Wonder What's Not Included in Your Laundromat Insurance Policy?

Here’s a little information for the majority of people who have never read past the invoice page of their Laundromat insurance policy. There are limitations you might not know about, but I would recommend that you take the time to search in the back portion of your policy for exclusions. This is that long list of things your policy does not happen because they are often a result of poor business practices or owner personal property. Here are two dozen common exclusions found on Laundromat business insurance. Your policy may have more. I

1.     Damage to your tools or equipment (that's actually Inland Marine insurance)

2.     Damage to yourself, employees, or subcontractors (that's Worker's Compensation insurance)

3.     Any damages related to abuse or molestation

4.     Damage to someone else's property in your care, custody or control

5.     Damages from accessing or disclosing confidential or personal information

6.     Damages from foreign drywall contaminants

7.     Damages from your hiring, firing, or other employment practices

8.     Damages that existed before the start of the policy period or which progressed from previous damages

9.     Damaging or losing electronic data

10.   Exposure to fungi or bacteria

11.   Exposure to lead

12.   Exposure to silica or silica-related dust

13.   Fines, penalties, or other punitive damages

14.   Firearms

15.   Your dog attacking a customer, especially if you dog is an attack trained dog

16.   Injury to employees

17.   Operating or servicing any manned or unmanned aircraft or watercraft (including drones)

18.   Physical or verbal violence

19.   Property damage to your work or your subcontractor's work

20.   Selling products, supplies, accessories, or tools that you manufacture. Products that you otherwise sell or distribute are usually still covered for damages to third parties

21.   Serving, selling, or distributing alcohol or allowing alcohol on premises

22.   Sexually transmitted diseases

23.   Legal cost for suing or filing claims against your co-owners, partners, or employees.

24.   Working with pollutants or causing pollution

This is not a review of any policy I may sell, so it’s important to read your policy from the person you purchase your policy, including ones I sell, for specific exclusions. If you can’t understand something, ask you agent to clarify your coverage. Remember read your lease and your insurance policy.