Q: What is Cents Insurance?
Cents Insurance offers comprehensive business coverage through the Authentic integration, providing an all-in-one solution for efficient business management and risk coverage.
Q: What makes Cents Insurance different from traditional insurance?
Unlike traditional brokerages that match you with generic policies, Cents Insurance directly underwrites coverage specifically for laundromat businesses. As laundry industry experts, we deeply understand your operations and can assume more risk where others won't.
Q: What are the benefits of Cents Insurance?
Get covered in minutes with instant quotes online
Save up to 40% on insurance costs
Cancel anytime with no fees
Custom coverage for your business
Expert guidance from licensed agents
Fast claims management (typically within 48 hours)
Backed by "A-Excellent" AM Best rated insurers through Everspan Insurance Company
Unlimited certificates of insurance
Monthly payment options
No disruption to your operations
Already insured? We’ll help you cancel your existing policy for a pro-rated refund!
Q: Who is Authentic?
Authentic is an insurance infrastructure company that enables platforms like Cents to offer insurance to their customers.
Q: How do I get a quote and activate coverage?
Visit the Cents Insurance website
Complete the 5-minute "Let's get started" form with your business details
Review your coverage, terms, and payment
Click "Activate coverage" to accept
Q: Where can I manage my account?
Access your policy management hub through the email link sent after activation or by visiting the policy management hub and entering your security code.
Q: Who is eligible for Cents Insurance?
We offer coverage in all U.S. states except Hawaii and Alaska.
Q: What determines eligibility and rates?
Factors include location, hours of operation, building structure, claims history, and risk mitigation practices. For laundromats, dryer maintenance, water damage prevention, and staffing can impact rates.
Q: How will the insurance quote flow work?
The quote flow is fully embedded within our platform without external redirects. We've transformed the customer experience from a maze of questions to a simple 5-minute application.
Q: How will I access the policy management dashboard?
The dashboard integrates directly into the Cents Business Manager.
Q: Why is commercial insurance important for small businesses?
Commercial insurance protects against legal liabilities and property damage, ensures financial stability, and helps meet legal compliance requirements. For laundry businesses, proper coverage can be the difference between staying in business and being forced to shut down after an unexpected event.
Q: What types of insurance are available?
General Liability Insurance: Protects against customer injuries, property damage, and legal disputes.
Property Contents Insurance: Protects physical assets from theft, fire, vandalism, and weather-related events.
Business Owner's Policy (BOP) Insurance: Combines General Liability and Property Insurance into a single package.
Workers' Compensation Insurance: Covers employees for work-related injuries or illnesses.
Q: Why is Cents Insurance better for laundromat owners?
While traditional insurers often lump all laundromats together—treating well-run operations the same as neglected facilities—we recognize the difference. Our specialized underwriting allows us to:
Evaluate your business based on actual laundromat-specific risk factors
Provide appropriate coverage for common industry needs
Potentially offer lower premiums by recognizing the true risk profile of well-run operations
Accommodate 24-hour and unattended operations with realistic terms
Q: Do you cover 24-hour laundromats?
Currently, we cannot cover 24-hour laundromats.
Q: Is coverage different for unattended versus attended laundromats?
Yes. Unattended operations (coin-only facilities with no staff) typically require additional coverage considerations:
Higher liability limits
Specific security measures
More comprehensive property coverage Attended operations generally receive more favorable rates due to reduced risk.
Q: Does coverage differ for leased versus owned properties?
Yes. When leasing:
Your landlord may require you to insure building elements beyond your business operations
You'll need to list the landlord as an "additional insured"
You may need specific coverage for water and fire damage based on lease terms
We do not currently offer building coverage, so for owned buildings you may consider us for your General Liability and cover your property on a separate market.
Q: What does Bailee’s Customers’ Goods Coverage include?
It provides up to $50,000 in coverage for customers’ property while it’s in your business’s possession, such as missing laundry. It also includes a $15,000 sublimit specifically for goods stored for over 60 days after processing, covering direct physical loss or damage—for example, laundry that has been missing after being stored at the business for more than 60 days.
Q: What are the major risk factors for laundromats?
Dryer fires: Often due to poor vent maintenance or customers putting oily rags in dryers
Slip and falls: Potentially costing $40,000+ per incident between settlement and legal fees
24-hour operations: Higher risk for unattended facilities
Location factors: Urban areas, high-crime neighborhoods, and shared buildings can increase risk
Q: What lease requirements should I be aware of?
Responsibility for building structure insurance
Liability for water damage to adjacent spaces
Fire damage responsibility
Special requirements for 24-hour operations
Landlord as "additional insured"
Q: What essential coverage should laundromat owners have?
Replacement cost coverage (not actual cash value) - The difference between getting full replacement or just depreciated value
Adequate liability coverage for slip and falls
Business interruption insurance that matches actual income
Proper cash-on-premises coverage
Customer goods coverage
Q: What payment options are available?
We offer flexible premium payments spread throughout the year.
Q: What's the escalation path for complex insurance questions?
Our support team will connect you with specialized insurance experts for complex questions.
Q: How will existing customers transition to your offering?
We'll review your current coverage, guide timing, assist with cancellations, and support certificate transfers.
Q: What renewal process will be in place after the first year?
You'll receive automatic notifications before renewal with opportunities to review and adjust coverage.
Q: How can I lower my insurance costs?
Professional vent cleaning every 2 years
Employee training on documentation and incident response
Camera systems with footage saved permanently after incidents
Regular policy reviews to adjust for inflation and business changes
Attended operations when possible
Q: Why are traditional insurance policies often insufficient for laundromats?
Many laundromat owners are unknowingly underinsured due to:
Misclassification (e.g., being classified as a "drop station" rather than a laundromat)
Policies that exclude or severely limit water damage coverage
Inflation increasing replacement costs (~20% annually)
Regional pricing variations ($16-20K annually in NYC vs. half that in the Midwest)
Q: Who do I contact for support?
Contact our Cents Insurance Support Team at [email protected] or 620-536-8903.