As insurance premiums continue to rise, are you sure your business is even covered? Are you paying for coverage you don't even need? Are items missing from your policy that could cause you devastating losses? Larry Trapani & Joel Blitzer of The Laundromat Millionaire Insurance Program join Dave & Carla on this episode of The Laundromat Millionaire Show to discuss these questions and more. This is a must-listen episode for every laundromat owner!
Referenced Links:
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
H-M Company Drain Troughs: https://www.draintroughs.com
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
WDF & Delivery Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Episode with Brian Grell: https://youtu.be/NLcTQ-3eA20
Episode with ADP: https://laundromatmillionaire.com/laundromatmillionaire_videos/stress-free-payroll-solutions-w-justis-mullins/
Timestamps
00:00 Service Provider Spotlight – Aura Detergents
01:35 The Laundromat Millionaire Show Intro
02:36 Decades of Experience Insuring Laundromats
11:26 The Changes in Agent and Broker Training
14:17 How a Broker Protects You
16:32 Rules on Switching Policies
20:22 Increasing Premiums and Refusals to Insure
23:48 What Owners Can Do to Mitigate Risks
28:55 How Your Business Model Affects Your Premiums
32:25 Common Reasons Laundromats are Mistakenly Underinsured
39:55 The Right Size Deductible and Avoiding Small Claims
41:31 Insurance on Loss of Business
43:00 Insurance on Loss of Cash
43:52 Misclassifications on Insurance Policies
48:07 Events Your Broker Needs to Know
49:28 Bailee Insurance Coverage – What Is It & Do You Need It?
53:19 Dangers of Only Shopping Price
55:44 Worker’s Compensation Insurance
57:00 Final Thoughts
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