Carpet Cleaning Business Insurance Cost
Insurance is a must for your business, but finding the best combination of affordability and great coverage? That can be a challenge. See what impacts the cost of carpet cleaning business insurance and how to reduce your risks to keep your premiums low.
How Much is Carpet Cleaning Business Insurance?
Carpet cleaning business insurance costs as little as $39 per month or $435 per year with Insurance Canopy. The national average is $520 a year, so our rates offer savings and give your business the solid protection it needs
Most Popular Carpet Cleaning Insurance Policies (+ Their Cost)
Every carpet cleaner needs general liability coverage, which is the base coverage included in carpet cleaning insurance. But there are also add-on coverages you can choose to increase protection for your small business.
Here’s a breakdown of coverage types available and how much each costs:
| Our Average Price | Industry Average | |
|---|---|---|
|
General Liability Insurance |
$679.92 / year |
$884.81 / year |
|
Tools and Equipment Insurance |
$51.64 / year |
$384.41 / year |
|
Janitorial Bonds |
$106 / year |
$126/year |
|
Additional Insureds |
$10 / year / AI |
|
|
Workers’ Compensation |
$1,141.86 / year |
$1,627 / year |
|
Cyber Liability Insurance |
$99 / year |
$1,740 / year |
**based on the median cost of policies for cleaning insurance bought with Insurance Canopy.
General Liability Insurance
General liability insurance is designed to shield carpet cleaning businesses from third-party injury and property damage claims, like a client needing medical attention after tripping over your commercial cleaning machine or claiming that you ruined their carpet.
| Coverage | Lowest Annual & Monthly Cost |
|---|---|
|
$500K Per Incident / $1M Per Year |
$435 / $38.33 |
|
$1M Per Incident / $2M Per Year |
$470 / $41.67 |
Tools and Equipment Insurance
Tools and equipment coverage, also known as inland marine insurance, is meant to cover the cost of repairing or replacing your business equipment if it gets damaged or stolen.
This insurance protects your essentials — from power wands to upholstery tools — so you can rest easy knowing the equipment you need to keep your business up and running is covered.
| Limits (Occurrence / Aggregate) | Premium per month | Premium per month | Deductible |
|---|---|---|---|
|
$1,000 / $3,000 |
$3.33 |
$40 |
$500 |
|
$2,000 / $6,000 |
$4.58 |
$55 |
|
|
$5,000 / $10,000 |
$5.00 |
$60 |
|
Janitorial Bonds
Many people hiring carpet cleaners and other contractors prefer (or even require) proof of insurance and bonding. A bond gives your client peace of mind, guaranteeing you’ll complete your work according to agreed-upon standards and handle any mishaps in a professional manner.
If things get messy, this bond steps in to cover the costs, keeping your reputation spotless.
Insurance Canopy offers two bond options to fit your business needs.
| Bond Option | Annual Cost |
|---|---|
|
$5,000 Bond |
$131 |
|
$10,000 Bond |
$175 |
Additional Insureds
An additional insureds is a qualified third party (like a client or landlord) you add to your insurance policy. It’s common for commercial clients, property managers, and others to require this as a condition of awarding you a contract. As an additional insured, this extends your policy’s protection to them should a mishap arise from your work.
For instance, if a local restaurant hires you to deep clean after hours and a beverage vendor trips over your equipment, hits their head, and needs stitches, the vendor might sue both you and the restaurant to cover their medical expenses.
Because this happened due to your business operation, your policy can cover both you and the restaurant named as an additional insured. This makes working with you more attractive to third parties who could be negatively impacted should something like this occur.
Price per additional insured: $10/year
Workers’ Compensation
Maneuvering heavy equipment and encountering wet floors are common risks in the carpet cleaning industry. If one of your employees gets hurt on the job, workers’ compensation can cover costs like medical expenses and lost wages.
Your cost for this coverage will vary based on your specific needs and requirements. Also, keep in mind that you won’t be able to purchase this coverage if you are in a state that handles workers’ comp monopolistically.
Annual Premium: $1,141.86
Employers’ Liability Coverage Limits
The maximum coverage for damages resulting from bodily injury by disease for any number of employees.
$1,000,000 Policy Limit
The maximum coverage for bodily injury to one or more employees in any one accident.
$1,000,000 Each Accident
The maximum coverage for damages resulting from bodily injury by disease for any number of employees.
$1,000,000 Each Employee
Cyber Liability Insurance
Many carpet cleaners have websites that gather and store sensitive client information and process payments online. While the digital world we live in makes a lot of business activities easier, working online has inherent risks, including data breaches and other cyber crimes.
Cyber liability coverage can help you with:
- Data breach notification costs
- Customer data loss
- Ransomware and cyber extortion
- Legal fees
- Business interruption fees
|
Monthly Premium |
$8.25 |
|
Annual Premium |
$99.00 |
|
Coverage
|
$100,000 Cyber Coverage Limit
including $50,000 in E-Theft Coverage
|
Factors Affecting Your Carpet Cleaning Business Insurance Costs
Here’s a rundown of what might give your carpet cleaning insurance and bonding costs a little extra fluff:
Size of Your Business
The bigger the operation, the bigger the bill. More employees and higher risk can pump up your premiums, as larger businesses often deal with more claims and liability issues.
Location
Your location plays a big role in your rates. Local risks—like crime rates, natural disasters, and specific regulations—can all impact the cost of your carpet cleaning insurance.
Claims History
Got a few claims under your belt? That can drive up your premiums. If your carpet cleaning business has a track record of frequent claims, insurers might see you as a higher risk.
Coverage Limits
Find the sweet spot between what you need and what you can afford, so you’re neither under- nor over-insured.
Additional Coverages
Adding extras like tools and equipment insurance or workers’ comp? Expect a premium hike. While these add-ons offer valuable protection, they also come with extra costs.
Tips for Saving on Carpet Cleaning Business Insurance
Want to save on your carpet cleaning insurance without skimping on protection? These tips will help you find the best deal and keep those costs as tidy as your clean carpets:
Bundle Policies
Why juggle multiple policies when you can bundle them and save? Combining coverages like general liability and tools and equipment insurance often nets you a nice discount. Plus, Insurance Canopy sweetens the deal with a discount if you opt for annual payments instead of monthly!
Review Coverage
Don’t pay for what you don’t need. Adjusting your limits and ditching unnecessary add-ons can trim your costs while still keeping you well-protected.
Boost Safety
Fewer accidents and claims show insurers that your business is a lower risk, which can translate to some nice savings.
Shop Around
Compare offers from different providers to find the best deal on carpet cleaning service insurance and bonding.
Maintain a Clean Record
Keep your claims to a minimum to score lower premiums.
Get Instant Insurance for Your Carpet Cleaning Business!
Ready to clean up with the best coverage for your carpet cleaning business? No dirt, no drama—just unbeatable rates and comprehensive protection. Get covered today with Insurance Canopy and keep your business as spotless as your carpets!
Allison Kirschbaum | Copywriter
Digital Content Specialist, Allison Kirschbaum leverages her experience in providing in-depth content such as blogs, whitepapers, and downloadables about insurance, liability, and the challenges small businesses face every day. Before working at Veracity, Allison freelanced her copywriting skills, including optimizing rankings and generating leads across various sectors. She is now fully trained on Insurance Canopy’s products and helps small business owners navigate their insurance needs.
Digital Content Specialist, Allison Kirschbaum leverages her experience in providing in-depth content such as blogs, whitepapers, and downloadables about insurance, liability, and the challenges small businesses face every day. Before working at Veracity, Allison freelanced her copywriting skills, including optimizing rankings and generating leads across various sectors. She is now fully trained on Insurance Canopy’s products and helps small business owners navigate their insurance needs.
Kyle Jude | Program Manager
Kyle Jude is the Program Manager for Insurance Canopy. As a dedicated program manager with 10+ years of experience in the insurance industry, Kyle offers insight into different coverages for small business owners who are looking to navigate business liability insurance.
Kyle Jude is the Program Manager for Insurance Canopy. As a dedicated program manager with 10+ years of experience in the insurance industry, Kyle offers insight into different coverages for small business owners who are looking to navigate business liability insurance.
