Insurance for business vehicles and equipment
What’s driving your business forward? If you operate a vehicle for your business you’ll need to protect your equipment/vehicles, passengers and third parties in the case of bodily injury or property damage. With the rising costs of verdicts awarded to injured parties, an accident could be the most devastating event that can to occur to your business.
Several types of coverage may be included in your commercial auto policy; others are options that you can purchase separately. Typical coverage and enhancements include:
Covers third party bodily injury, property damages and defense costs
Commercial General Liability insurance covers risks that affect almost every business, no matter what your industry. It is the most common insurance for a businesses and it’s typically the first policy purchased by new businesses. At the core, General Liability protects your business against third party bodily injury, property damage and defense costs. Here are the main components of the policy:
Protection for your physical assets
Commercial Property is an insurance coverage for businesses and other organizations that insures against damage to your buildings and contents due to a covered cause of loss, such as a fire. The policy may also cover loss of income or increase in expenses that results from the property damage.
The commercial property policy covers items such as:
Motor Truck Cargo
Covers losses or damage to the commodities while they are being transported
Physical damage coverage to trailers that are hauled under a trailer-interchange agreement
Warehouse Legal Liability
Coverage for the Property of Others in your possession
Non-Trucking Liability and Physical Damage
Coverage for owner-operators leased to a motor carrier
Employment Practices Liability
Protect your business in case of an employee lawsuit
Employment Practices Liability Insurance (EPLI) is a type of liability insurance covering wrongful acts arising from employment. The most common types of claims covered include wrongful termination, discrimination, sexual harassment, and retaliation. In addition, the policies may cover claims from a variety of other types of inappropriate workplace conduct including employment-related defamation, wrongful discipline, invasion of privacy, and failure to promote.
The costs associated with EPLI claims can potentially put you out of business and these costs are on the rise. A business owner doesn’t have to be in the wrong to be sued. The right insurance to cover defense costs and damages related to various employment-related claims can be critically important to help protect your business.
Benefits for leased owner-operators injured in a job-related accident
Benefits for employees injured on the job
The Workers’ Compensation system was established to provide loss of income, medical care, and rehabilitation to employees for illness, injury, or death arising out of, and in the course of, their employment whether or not the employee was at fault.
Workers’ comp insurance is so beneficial to both employees and employers that it’s required by law in most states. Even if you have one single employee, you may be required to carry this essential business insurance coverage. Whether it’s required for your business or not, carrying workers’ comp insurance is a good strategy for your business. There’s no better way to share your appreciation for your employees than to have their back in the event that something causes them harm while they perform their job.