A coin operated laundromat is a great source of extra income. Due to the self-service design of your
laundry machines, it functions as a passive business in many ways. You still need to protect yourself
from losses like any other business. The right self-service laundromat insurance limits your exposure to
risk and protects you from major financial setbacks.
The key to your success is making as many machines available to your customers as possible. Broken
equipment doesnt generate any revenue, but it still takes up valuable floor space. Even with proper
maintenance, parts can fail. Sometimes a malfunctioning machine damages your customers personal
items. Insurance can help you get your machines repaired and limit your financial responsibilities for
damages caused by them.
Interruption of Utilities
It is impossible to run a washing machine without electricity or water. Damaged power lines affect your
business as do broken water pipes. These unforeseen events are out of your control and can end up
costing you revenue. A good business interruption plan can help you to avoid losses due to unavailable
General Liability and Special Needs
While on the premises, your customers are exposed to many hazards. Cleaning chemicals or pools of
water on the floor can lead to accidents. The general liability portion of your self-service Laundromat
insurance protects you against lawsuits while also providing your customers with emergencies services.
A plan should also include coverage to protect you in the even that your site is found to be causing
pollution, or that water backs up into your machines.
Talk to a qualified insurance agent for more information on appropriate coverage options for your