Corporate vehicles, no matter if it’s a car or a delivery truck, represent a whole bundle of risks all in one single object: loss of goods, property damage, liability and injury to persons. Continue reading “Protecting your vehicles”
What business insurance on commercial auto is used for?
Just imagine driving your personal car without having an auto insurance policy. The same goes for corporate vehicles. Regardless of whether you have personal auto insurance or not, your company’s vehicle should have commercial auto insurance. This is due to the fact that your personal car insurance policy won’t provide any coverage in case you’re engaged in a car accident while driving a corporate auto. You can even be charged with misrepresentation in case you include a commercial auto in your personal car insurance policy.
What coverage does business insurance on commercial auto provide?
There are numerous types of coverage available through a business insurance auto policy, so make sure to consult with your insurance broker or agent on choosing the most appropriate for your business. You should discuss all the vehicles used in your business: cars, pickups, vans, and trucks. You should also consult about covering “non-owned” vehicles, in case your employees use their own cars for work; and rented autos, in case your employees use rented vehicles for work.
Why would you need business insurance
Any accident at the worksite, be it big or small can have devastating effects on your business. Is there a way to prevent a small business from having big losses? There are two of them, and you usually get both kinds of business insurance with a single Business Owner’s Policy (BOP): property insurance and liability insurance.
What property insurance is all about
Business insurance on property provides coverage on physical assets: buildings, machinery, valuable documents, inventory, computers, records and more. Property insurance can also be used to gain income in case your business suspends any operations after covering the loss.
For example, a fire damages or destroys your building. In thus case you may not only get full coverage on the property loss you have taken, but you may also receive income while you’re repairing the facility. Check your policy first to make sure your business insurance provides such coverage.
What liability insurance is used for
Business insurance on liability is used specifically to protect valuable assets of your business in case the actions of your company have cause property damage or bodily injury to any third party.
For example, liability business insurance will cover your expenses in case some person claims to have been affected by your product…or it may cover your expenses on court defense costs in case a competitor takes legal action against you.
Liability and property business insurance
The majority of insurance companies combine the primary property and liability insurance coverage into a single business owner’s policy, which usually costs less than if buying both types of coverage separately. The limits of each type of business insurance coverage can be adjusted specifically to your needs, making the policy more relevant to the risks of your business.
Business insurance learning center
Business is like a child: you have to take care of it on each stage of it’s development in order to get it right where you want it. With so much time and money being invested, is it hard for you to spend a couple of minutes? Besides, these minutes will pay off in hundreds and thousands of dollars if savings, because after taking your time and reading through the articles we offer, you’ll be able to cut your business insurance expenditures and adjust your business insurance policies to your enterprise’s individual needs. Sounds to good to be true, but it is.
All you have to do is just learn the basics of business insurance and understand what risks might your business confront every day. By learning these risks, you’ll be able to adjust your business insurance policy exactly to the needs of your enterprise. And that could save you considerable amounts of money. In these hard times our economy has faced, such an opportunity should not be missed. So take your time and through the articles carefully. It’s is you who’s in charge of your business. And no matter the size, you’ll be able to adjust your business insurance exactly as needed.
Insurance is a necessary acquisition for any business, representing an agreement between the company and the customer that the insurance company will provide reimbursement for specific types of financial loss against a specified fee the customer will pay on a regular basis.
Well, for better or worse, the healthcare bill has been signed into law. There is no immediate benefit in being angry. There are a number of legal actions started by various Attorneys General alleging that the reforms are unconstitutional. Even if some of these cases succeed on the issue of mandatory insurance for private individuals, this will not necessarily strike down the whole bill.
Business owners really need insurance to protect their investments and valuable assets, especially if it is a small business, because there are numerous factors that can ruin the enterprise and turn all of your efforts into nothing overnight. Business itself in essence is connected to a lot of risk, but when a small business uses loans and credits for day-to-day operations, any financial loss no matter what causes it may be devastating both for the business and the individual behind it.
Most economists prefer talking about the big picture of a nation’s financial health. I see the tens of thousands of sole traders and small operations that tick over in local neighborhoods, satisfying community needs and keeping local economies alive. The good news? A recent survey shows local entrepreneurs live longer and have better lives than the people who work for others. Yes, there can be more stress when times are hard, but most have a better work-life balance, finding comfort and support in the family. So what is it that these local business owners are doing?
No matter whether you’re a start-up or have been trading for generations, most small businesses operate out of a single industrial unit, office or shop. Thus, all the commercial eggs are in a single building. If anything serious happens to those premises, the whole business will be disrupted and may fail unless repairs can quickly be put in hand or alternative premises are found.
One of the things that can really throw a small operation into chaos is an accidental injury or a sudden illness. When the number of employees is few, almost everyone who works in the business is a key person. Even in countries where there is a public health service, waiting times for a consult or treatment is a real problem. This makes a health insurance plan a practical necessity for many types of business.