Get Your Business Insurance
You can get your insurance now to have it out of the way, or you can wait until you feel you are about to close on a contract. If you can afford to do it early, it will be great because you can submit your COI (Certificate of Insurance) to customers with your proposal and give yourself a competitive advantage.
There are 3 types of insurance coverage that you may need:
General Liability insurance – to cover on the job incidents that could occur. Try to get a $1,000,000 policy. It should be $75 per month maximum.
Janitorial Bond – this covers theft. If you plan to hire, you definitely want this coverage. Try to get a $50,000 policy if you can. It should be no more than $300 for the year. THIS COVERAGE IS OPTIONAL. YOU DON’T HAVE TO HAVE IT TO DO BUSINESS.
Worker’s Compensation – Only get this if it is required by your state. The requirement is usually based on the number of employees that you have.
Sometimes you can find a local insurance broker that will cover all 3 coverages for you. But if you can’t try the following website: