By Tom Svrcek, President, CSC Insurance Options and Joseph D. Walters Insurance / Published May 2021
The Joseph D. Walters agency developed a program tailored to small companies in the power washing industry in 1978. The goal was to meet the insurance needs of companies that might have difficulty obtaining affordable insurance because of their size, because they were new to the industry, or both.
The goal was met. Today, we insure about 4,000 contractors in the power washing industry. Among the many attractive choices that we have been able to offer is a flat fee for a one-person business.
Of course, when businesses grow and employees are added, policies must be updated to reflect the increased exposure. The carrier assumes more risk when a company has 50 or 10 team members at work each day instead of just one.
Policy changes and adjustments have gone well across the years. Recently, however, some of our policy holders have become concerned when they learned that Liberty Mutual Insurance Co. will no longer be the firm writing their policies.
A transition from one to six different carriers has been made. Although in rare instances one of our clients may have to take a few extra or new steps to obtain a policy, in most cases transition will be simple.
There is no need for undue concern. The important thing is to act when a policy reaches its annual renewal date.
Joseph D. Walters has been sending letters to policy holders to alert them to the change in carrier and to the steps they must take to continue coverage. Our clients may also wish to be proactive: They can contact us about their needs and preferences prior to their annual renewal to ease their concerns during this transition year.
We realize it may be discomforting to sever ties with the long-time and familiar carrier that Liberty has been, but for the contractors who have already made the transition it has worked out well. The multiple carriers mean more choices for our customers. It also means redundancy should any one carrier move out of the sector.
Power washing contractors can contribute to a strong and sustainable insurance marketplace by making a commitment to accuracy. They should not understate or overstate their size or scope of work. Insurers do scrutinize their policy holders—particularly in the aggregate. Contractors who do not work high should not use photos on their websites that suggest they do, for example.
Our company offers power washing, window cleaning, and business insurance. The basics of accident and liability can be coupled with a range of options, such as limited pollution coverage and employment practices liability. Talk with us about any need.
Fast approaching 40 years of service to the power washing industry, Joseph D. Walters fully understands the industry’s unique dimensions. For an introduction to our insurance programs, visit our website https://josephdwalters.com.
(In addition to general liability, Joseph D. Walters can provide competitive policies for automobile, workers’ compensation, accident, and umbrella liability insurance, but not in every state. Contact us for more information.)