What is a reasonable cost (premium) for a residential house cleaning business?
What is a reasonable cost (premium) for a residential house cleaning business?
Just starting out in house cleaning business…want to have general liability insurance (600K-1million), with no previous experience in the cleaning industry (but high FICO score), is an $ 800+annual premium a reasonable cost? (also it’s through Lloyds of London…is that the bottom and most riskiest, costliest insurance)? thanks for any help
Best answer:
Answer by car253
Call around and get more quotes. Your first quote is reasonable. But you do not say all the coverages you are getting for that price. So, call around and get the quotes in writing or faxed to you so you can compare them.
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FICO score doesn’t count, with business insurance.
I think your $ 800 plus tax & fees (which will likely bring the total to $ 1,000) is a great quote. I’ve never gotten a quote for housecleaning for under $ 1,000.
With a new business, you don’t have very many options. You WILL have to be with an excess/surplus lines carrier like Lloyds. You have to have insurance coverage for three full years with no lapse, and no claims, to be considered by a “standard” carrier.