Chapter 4: Building a Risk Management Plan for Your Cleaning Business
As you've seen, small business insurance policies can shoulder the burden of financial loss and help your business survive disaster. But insurance policies can't prevent accidents from happening. That's why effective risk management plans combine insurance policies with proper risk-mitigation techniques.
Small-business owners do well not to rely on insurance policies to solve every problem. It is by far easier (and cheaper) to prevent loss and avoid filing insurance claims. Because every time you file a claim, your premiums might increase — and no one wants to pay more for insurance than they have to.
When you prevent risk, you can reserve insurance for the situations in which loss is unavoidable. In this chapter, we examine ways to prevent one of the biggest threats to cleaning businesses: slip-and-fall injuries. Then we take a look at how you can avoid a common, needless risk: gaps in your insurance coverage.
But first, let's explore some basic risk-management techniques that can help keep your insurance rates down.
Next: Chapter 4.1: How a Spotless Risk Management Plan Can Reduce Your Premiums
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