Commercial auto insurance provides broad protection that can be important to many people, including truck drivers, snow plow operators, tow truck drivers, couriers, business owners, and even pizza delivery guys.
As a commercial vehicle driver or owner, you may be required to carry some or all of these coverages. Even if you’re not, it’s still wise to consider having them. A solid commercial auto insurance plan can save you from a financial disaster, regardless of whether you’re an independent contractor or the CEO of a multi-million dollar company.
Many of the common types of personal car insurance coverage apply to commercial auto insurance, such as:
Bodily injury liability.
Personal injury protection (PIP).
Business Owner Policy or BOP is an insurance policy that combines protection from all mayor property and liability risks in one package.
Business Owner Policy or BOP is an insurance policy that combines protection from all mayor property and liability risks in one package. Package policies are created for businesses that generally face the same kind and degree of risk. Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face.
Property insurance for buildings and contents owned by the company – there are two different forms, standard and special, which provides more comprehensive coverage.
Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.
Liability protection, which covers your company’s legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.
BOPs do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles and your employees.
“Liability” in the context of insurance policies can be defined as “the cost of being blamed for, accused of, or responsible for losses suffered by others (that is, not to the business itself or any of its employees).”
“Liability” in the context of insurance policies can be defined as “the cost of being blamed for, accused of, or responsible for losses suffered by others (that is, not to the business itself or any of its employees).” The injuries which Commercial General Liability policies respond to include bodily injury, property damage, certain personal injuries, and “advertising injury”.
Commercial general liability insurance coverage applies in the event of a claim where the insured becomes legally liable. However, the coverage does not apply to all situations where the insured is legally liable for damages. Coverage is limited to those obligations listed in the insuring agreement of the policy and not otherwise excluded from the policy.
Workers’ compensation insurance covers an employee’s living and medical expenses if they are injured.
Workers’ compensation insurance covers an employee’s living and medical expenses if they are injured. In exchange for the company paying the damages under a workers’ compensation policy, the employee gives up the right to sue the company for negligence. Workers’ compensation insurance protects the company from employee lawsuits that might come as a result of a worker being injured.
Some workers’ compensation plans cover lost wages, or a percentage of lost wages, in addition to medical expenses. There may also be provisions for compensation for past or future economic loss, as well as if a worker gets killed during employment may also be covered under the policy.
General Liability Insurance is a solid foundation for any church’s business insurance plan.
When it comes to insuring churches, it’s important to remember that no two churches are alike. That’s because churches, in addition to serving as a place of worship, tend to provide a variety of other services – daycares and preschools, AA and other support meetings, fitness classes, field trips, counseling services – to their communities, which leaves them at risk for many different types of exposures.
General Liability Insurance is a solid foundation for any church’s business insurance plan. You may not fiscally run your church as you would a business, but that doesn’t mean it can’t be sued liked any other organization that offers products and services. General Liability Insurance will protect your church from third-party claims that allege you or another member of the church’s board or administration caused someone bodily harm or property damage.
Besides general liability insurance, churches are highly recommended to get Directors & Officers Insurance for Churches and Religious Organizations, Commercial Auto or Hired &Non-Owned Auto Insurance, Workers’ Compensation Insurance as well as Umbrella Insurance.
To learn more about Church insurance please give us a call.
If you rent out property/properties that you own, Landlord insurance protects you against damage or loss to your property.
If you rent out property/properties that you own, Landlord insurance protects you against damage or loss to your property. Residential Landlords insurance covers many of the same dangers that ordinary home insurance does, like fire, theft and floods for any single property and more.
You’ll be able to add Rent cover to your Landlords policy and Property Owners comes with Liability coverage as standard, giving you extra peace of mind. If you rent out commercial property (or a mixture of commercial/Residential) you’ll need commercial Landlords insurance, Landlord insurance also protects you against damage or problems your rental property may sustain, such as:
Damages to your property caused by a tenant.
Liability in case a tenant or visitor is injured while on your property.
Temporary re-housing costs (residential properties only) following an insured event that forces your tenant(s) to vacate the property.
Your rental income following an insured event at the premises such as a fire, flood, vandalism.
Commercial Property Insurance helps business owners recover when certain disasters jeopardize their business assets and real estate.
Commercial Property Insurance helps business owners recover when certain disasters jeopardize their business assets and real estate. Covered events might include fire, windstorms, theft, or vandalism. Business owners can use the payout from their commercial property policy to repair or replace items such asoffice buildings.
Many Commercial Insurance policies also include Business Interruption Insurance. This policy covers up to twelve months of lost income when certain events force the business owner to put their business operations on hold. For example, if a fire destroys your client’s workplace, Business Interruption Insurance can pay for the ongoing costs of keeping your client’s business afloat when it can’t generate revenue.