I am seriously considering the program. What about insurance and bonding? Is it necessary? Thank you.

Hi Steve, I've been doing this for over a year now and I never got around to purchasing insurance or a bond. I have found that customers won't even ask you about having either coverage as long as you don't bring it up.

So far, only one customer asked if I was bonded and I said no, but she gave me the job anyway. The Bond is used to protect you if something is reported stolen or missing (not broken). It's almost a guarantee that being bonded will be a requirement if you plan on doing business with the larger commercial accounts. If you are just starting out, don't worry too much about it.

As far as insurance, I think Mark will tell you that you cannot buy any type that protects the customer if you ruin thier carpets (you will never even come close with this method - unless you do something really outside the norm).

You can get liability insurance but that will only cover things like -someone falling or slipping on an area you cleaned, or you damage a very expensive piece of equipment you can't cover yourself etc.. Liability insurance is a good thing to have imho, but again, no customer has asked for it.

$1 million of liability coverage cost's near $648 per year to give you an idea of what to expect to pay.

-Bri

Steve
See my response to your insurance question under
Shawn Madden's post thread on floors.