Chapter 2: Understanding Cleaning and Janitorial Insurance Policies
Part 4: Insurance Endorsements (aka "Riders") for Cleaning Professionals
SPICE: Property Insurance with More Flavor
A Supplemental Property Insurance Coverage Endorsement (or SPICE) can be added on to your Property Insurance policy. It is specially designed for professionals in the cleaning and maintenance industries. While standard Property policies only protect your equipment at your primary business location, SPICE shields your gear when it's on the go.
The policy protects your business personal property…
- Against loss, theft, or damage.
- When it's in transit.
- When it's at a location outside your office.
You'll also have an additional $25,000 "extra expense" business income at the premises you select. This allows you to collect benefits to replace revenue if a property loss prevents you from working for a period of time. SPICE can also cover instances of employee theft, forgery and alterations, and money and securities.
Next: Chapter 2.4.B: Sudden and Accidental Pollution Coverage
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