Costly Insurance Coverage Mistakes with Larry Trapani and Joel Blitzer

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: Our Website: Our Online Course: Our Youtube channel: Our Podcast: Our Facebook: Our Facebook Group: Our LinkedIn: Our Instagram: Our laundromats: Our pick-up and delivery laundry services: H-M Company Drain Troughs: LaundroBoost Marketing Company: The Laundromat Millionaire Insurance Program: Suggested Services Page: WDF & Delivery Dynamics: A Complete Business Blueprint: WDF & Delivery Workshops: Episode with Brian Grell: Episode with ADP:

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