Do you love statistics? You probably don’t, seeing how gutter cleaning is relatively straightforward, if a bit messy at times. There’s no difficult math involved, not until you reach a certain level of business growth.
But, you absolutely should, since math helps us solve problems and complex math helps us avoid and solve complex problems, such as the question of liability. As your gutter cleaning business grows, you’ll face certain risks and uncertain outcomes, such as a piece of gutter falling off the roof and hurting someone while you or your employee are working on it.
Gutter business insurance helps you avoid unnecessary risk and protracted legal battles.
Accidents happen all the time. We pick up the pieces, learn our lesson and move on. But, when there’s other people and their property involved, things can get really messy. You can end up in court, lose your reputation and pay a fortune in lawyer fees. What’s much better is to have business insurance.
When accidents happen, business coverage keeps you covered, meaning there’s a pool of funds you can draw from to put out a fire before it turns into a raging blaze. That’s a ridiculously simple explanation but describing the real process would bore you to tears. We’ll leave that to the insurance sellers.
In short, you pay into a pool of funds and draw from it when certain conditions are met.
The amount you pay and draw is calculated through complex math based on expected outcomes. Think of it like reverse gambling — you bet disaster doesn’t happen, but there’s a payout if it does.
The most common types of risks covered by general liability insurance are:
● bodily injury
● property damage
● legal defense and judgment
● medical payments
● advertising and personal injury
There’s no legal requirement to have gutter business insurance but just one random accident can ruin you and your business for good. If you or one of your employees happens to tug too hard on a rusty gutter, it could take off the entire part of the roof. If a part of the roof falls on the owner or his pet due to your actions, you could again be found liable.
It’s fair that you pay for the things you did, but the trouble arises when people start suing you for things that you arguably didn’t do. You still have to defend yourself in court, which again incurs lawyer fees, and one wrong word might mean forfeiting the case, so you better plan for a good lawyer.
Plan on getting your liability coverage before you get your first customer. That’s the proactive way of protecting your assets.
On average, you pay $500–1,500 a year to get up to $1mm in general liability coverage.
Some factors that determine whether your premium is on the low or the high end of the range are:
● number of employees
● general aggregate limit
There are often add-ons and packages that can extend your insurance coverage without bumping up the cost too much. For example, you can also cover your vehicle under the insurance package.
We suggest you look for the holy trinity of all fine insurance plans:
Transparent insurance plans are the ones where you know exactly what you’re getting. Since you’re probably not well versed in legalese, that also implies the insurance seller will patiently explain everything you need to know. That also means you should ask all the questions you can think of and then some.
Flexibility means the insurance plan covers only what you need and want. This dispenses with a lot of crud insurance plans usually hold. For example, you might have experienced bad situations with personal injuries during gutter cleaning and want a special emphasis on those situations being covered. Shop around and don’t settle for the first insurance plan you come across.
Finally, an affordable insurance plan is the one that won’t break your bank. Especially when you’re just starting out, that $1,000 can mean the difference between staying afloat and going belly up. Negotiate with your insurance seller until you’ve reached an agreement. The simplest insurance policy might not look like much but it’s still something worth having.
Avoid the exact opposites of what we listed as desirable above.
Avoid insurance sellers that give you non-answers or change the subject when cornered. You should know the exact coverage you’re getting to the point you can easily explain it to a layman. Ask for things in writing and then read and reread everything until you grasp it.
Granted, insurance sellers are probably not apt at explaining but there must be a simple way to explain whatever concept you come across, so don’t give up. Don’t sign anything until you understand what you’re getting yourself into.
Avoid “take it or leave it” insurance plans. These are most often comprehensive insurance plans intended for big businesses, who can afford to spend what is pocket change for them to get an added 1–2% lower risk of liability.
Finally, avoid plans that will break your bank, no matter how tempting they appear.
Statistics are amazing and help us understand the world. By just talking to gutter cleaning business insurance sellers, you will hear statistics that will help you understand the most common dangers and injuries, thus protecting yourself in advance. When you do end up buying coverage, start with the most common accidents and work your way to rare occurrences but don’t buy it at all costs.
Gutter cleaning is not without risks and danger, but we arguably can’t avoid all risk and all danger in our lives. What we can do is minimize it to the point it won’t ruin our lives if it does happen, such as through buying gutter cleaning business insurance.