Swimming Pool Maintenance

A Swimming Pool Maintenance Company has unique risks only the right insurance can take care of

A Swimming Pool Maintenance Companies are fairly unique businesses that exist within a specific niche. Because of the specialization of this niche, there are unique risks that only small businesses within this industry face. Businesses within this industry help clients maintain a cleanly and healthy pool environment during the warmer months of the year. The local lifeguard might be able to put chemicals in the water on a regular basis, but service technicians are trained professionals who can fix problems that exist among all types of swimming pool facilities. This expertise brings about a tremendous amount of risk that a business needs to be protected from. Here are ten types of insurance all Swimming Pool Maintenance Companies should consider.

Outdoor Pool near a beach setting displaying the need for a Swimming Pool Maintenance Company.

General Liability Insurance

General Liability Insurance is designed to cover basic property damage and bodily injury claims that your business may be liable for to third parties. It provides broad liability coverage for both personal injuries and property damage that occurs as a result of the actions of your business. Some common claims include advertising errors, libel, slander, defamation, as well as common slips, trips, and falls caused by your employees. It is important to remember that general liability insurance is not all encompassing. There are exclusions included in all general liability policies and there are additional coverages needed by nearly all swimming pool maintenance companies.

Workers Compensation

For purposes of Workers Compensation, a Swimming Pool Maintenance Company is given NCCI Class Code 9014. In most states, workers compensation is required by law for most businesses who have employees. There are some states who have exclusions based upon the size and structure of your business. even if your business is allowed to not carry coverage, it is not a wise decision to go without coverage if you have employees. Workers Compensation Insurance provides medical benefits and some lost wages to employees when they are hurt on the job. A business benefits from not being able to be sued for most employee injuries that occur as a part of normal business operations.

Lap Swimming Pool

Commercial Property

No matter if your business owns or rents a property, you need to secure some form of commercial property insurance in order to protect your business from property damage. Commercial property insurance protects your businesses physical assets from risks including fire, explosions, bursting pipes, hail storms, tornadoes, theft, and even vandalism. Natural disasters including hurricanes, earthquakes, and floods commonly are not covered by this coverage. These perils are typically not covered unless added to the policy. Commercial property insurance also covers most things inside your property including:  computers, furniture, equipment, exterior signs, fencing, landscaping, important documents, and inventory.

Commercial Auto Insurance

A Commercial Auto Insurance Policy is needed for a swimming pool maintenance company if they have any employees who operate a motor vehicle while on the job. Some form of commercial auto insurance policy is needed by a business regardless of whether the vehicles are owned or leased by the business. If the automobiles are owned, a traditional commercial auto policy will suffice. If a business has employees who use their personal vehicles, the business needs to secure a Hired and Non-Owned Auto Insurance Policy. This type of policy will also need to be secured if a business has employees who operate rented vehicles while on the job.

Inland Marine Coverage

Inland Marine Insurance is designed for equipment that is frequently in transit or stored at a third party location. If a business uses a trailor to transport equipment to a clients location, the trailor and all of the equipment loaded on the trailor are not covered by the businesses commercial auto insurance policy. This is why an inland marine insurance is necessary. This policy is best to be added to a suite of policies in order to avoid gaps in coverage.

Indoor swimming facilities need the specialization of a Swimming Pool Maintenance Company.

Cyber Insurance

If a swimming pool maintenance business accepts credit and debit cards as a form of payment, it needs to consider some form of cyber insurance. This is especially true if any of the information is stored for any period of time. Data Breaches are becoming more prevalent and small businesses are a prime target as most enterprise level businesses have put in place adequate cyber security measures. Cyber Insurance is almost always sold in a package of two policies. One deals with the first party damages to the business and the other deals with the third party liability a business faces to third parties damage as a result of a data breach.

Business Income and Extra Expense

Business Income and Extra Expense Coverage helps cover the cost of lost income a business experiences when it has to be closed for a period of time after a covered loss. The key to the policy is that the underlying claim has to be a covered loss. If a business is closed due to an earthquake and the proper insurance was not in place, this coverage will not be activated. This coverage can be used if the business is entirely closed or the normal business operations are interrupted.  In many instances, this coverage is the difference between a business being closed for a short time period and never opening the doors of the business again.

Surety Bond

A Surety Bond is an agreement between three parties, The three parties involved include the swimming pool maintenance company, the client, and the insurance company. The agreement insures the insurance company will pay your client an agreed upon amount if the business cannot deliver up to the standards of the contract. Many times a bond is required as part of a contractual agreement. The difference between a bond and a insurance policy is that the business is required to pay the insurance company back instead of just a deductible. Not all businesses are eligible for a bond depending upon the insurance carrier they are partnering with. Carriers prefer to offer bonds to established companies with a clean claims history.

Lifeguard Ring left out for the Swimming Pool Maintenance Company to clean up.

Umbrella Insurance

An Umbrella Insurance Policy is a cost effective way to ad to the limits of any existing policies. the way an umbrella policy works is that it will kick in only when the limits of another covered loss have been met. Take for example is a commercial property insurance policy has a limit of $500,000 on a property that is worth $400,000. There are additional cost associated with cleanup and removal of all debris. Also, there may be new ordinance or laws that are required int he state, county, or city that were not existent when the property was previously built. In order to bring the new building up to code, the cost of the new property may exceed the $500,000 of the commercial property insurance policy. In this case an Umbrella Policy would kick in to cover the additional costs up to the limits of the Umbrella Policy.

Business Owner’s Package (BOP)

A BOP is a suite of insurance policies designed for a specific industry and they are created to save a business money while preventing any gaps in coverage. Insurance carriers have decades worth of claims data to determine what types of claims certain businesses within certain industries are likely to face. Because of this information, carriers design a recommend package of policies for businesses within a particular industry and a specific classification code. Partnering with an independent insurance agent is a great way to determine which package of products is best for your business.

When does a Business need Hired and Non Owned Auto Insurance?

Hired and Non Owned Auto Insurance is a type of insurance policy that many businesses need and far too many fail to secure. According to the International Risk Management Institute, Hired and Non Owned Auto Insurance is defined as; ‘an auto that is used in connection with the named insured’s business but that is not owned, leased, hired, rented, or borrowed by the named insured’. In layman’s terms this is an insurance policy for a business when an employee of that business uses a vehicle for business purposes that is not owned by that business. This could be an employee driving their personal car for business purposes or it could be an employee driving a rental car while travelling to a conference representing the business. The insurance policy will cover bodily injury and property damage to third parties damaged by an accident that is the fault of your employee.  This policy can be purchased as a standalone policy or as an add on to your commercial auto or general liability insurance policies. Here are some things you need to know about this coverage if you own a small business and have employees who use vehicles the business does not own.

You can purchase it as a standalone policy, or you can add it on as a rider to your General Liability Insurance.

Two cars have crashed wrecked into each other at intersection with very upset man driver looking at the severe damage with wrong way sign in background. If he is driving for work, his employer needs hired and non owned auto insurance.

What exactly does Hired and Non Owned Auto Insurance Cover?

Hired and Non Owned Auto Insurance covers some damages for cars that employees of your business use but the business does not own those cars. These vehicles include rental vehicles, leased vehicles, and employee personal vehicles. The policy covers specifically the damage caused to third parties, but not always the damage to the vehicle your employee is driving.

Examples of when you need this coverage

  • You send an employee on an errand to pick up supplies in their own vehicle.
  • An employee rents a vehicle on a business trip.
  • You send a limo to the airport to pick up an important client.
  • An employee runs out to get coffee or pick up lunch for everyone in the office.

Rental Car Agent with a business man renting a car. THe business man is asking if they offer Hired and Non Owned Auto Insurance.

What is not covered under a Hired and Non Owned Auto Insurance Policy?

A Hired and Non Owned Auto Insurance Policy does not pay for physical damage to your employees vehicle. That damage would be covered by the employees personal auto insurance policy.  It also will not pay for the repair of a rental vehicle that is damaged by in an accident that is caused by your employee.  It does not cover accidents that occur during a commute to work, unless the employee is using a vehicle rented by the business. Another scenario that is not covered by a Hired and Non Owned Auto Insurance Policy is when an employee is running a personal errand during work hours, but they are not doing business operations.

What are the differences between Hired and Non Owned Vehicles

Hired Vehicles refer to car services like a taxi or limousine and rented vehicles your employees use for business purposes. Non Owned Vehicles refer to vehicles that are used by your employees that are not owned by the business. The most common example of this is an employee using their personal car for business related travel.

Safe Drivers

How to choose safe drivers for your Small Business?

Some businesses are forced to require at least some of their employees to drive as part of their job. This can be true for a landscaping company who drives to many third party locations throughout the day, but it can also be true for a restaurant who has the assistant manager run to the grocery to purchase snacks for the staff. No matter what the scope of your employees driving is in relation to their overall job, it is important to have a plan for how you are going to make sure they are safe drivers. In order to do this you must have a detailed plan in place to keep your employees and your vehicles safe while they are out on the road.  Here are five ways to ensure your business is doing everything it can to protect your business.

Interstate safe drivers

Consistency

You should strive for consistency in everything related to your vehicle fleet. This should be the same if you have two employees who drive for your business occasionally or 200 drivers out on the road at any given time. You should train all drivers the same way and hold everyone to the same standards throughout the length of their employment with your organization. Consistency is the best way to ensure your business is employing safe drivers.

Verify all records

It is crucial to verify any record your employee gives you about themselves. You should hire people you trust, but you must verify what they tell you in order to ensure your trust is not being violated. This goes for their past work history, their certifications, as well as their driving and criminal records.

Conduct thorough Background Checks

If you are going to be trusting your employees with expensive equipment than you need to run a thorough background check on them at the time of hire and periodically throughout their employment. How in-depth this check is will be different for every business depending upon the scope of your work and the experience of your employees. Digging deeper in to your employees background is always better than not exploring their history far enough.

Pull Motor Vehicle Records Yearly

Before anyone uses a vehicle as part of their job, you need to have a look at their motor vehicle record. This is a requirement for many insurance policies and failure to do so can cause your commercial auto insurance premium to increase or your business to be dropped from coverage entirely in some instances. These should be pulled yearly to ensure nothing has come up that would disqualify any of your employees from continuing to be qualified as a safe driver. You can never expect your employees to notify you of every traffic violation they experience while not on the job. The only way to know if they are continuing to be a safe driver is to look at their driving record.

Safe Drivers Test

Periodically testing your employees is crucial to ensuring they are taking the safety procedures you have in place seriously. This test can be as informal as going for a ride along with the driver occasionally to a formal written exam. The depth of this test will depend upon how much the employee uses a vehicle as a part of their job, but some type of test should be a part of your overall vehicle safety program.

 

 

Pest Control Insurance Needs

Pest Control Companies Face Unique Risks

Pest control companies provide services to commercial and residential customers who have problems with insects, rodents and other nuisances on their property. The fumigator or exterminator determines the type of pest and the most effective method of extermination. These methods should always be the method that will cause the least amount of disruption to the customer, regardless if the customer is an individual or a business. Because these businesses are constantly interacting with customers off-premise and the nature of the chemicals they are using, risks in this industry are high.

In order to manage risks properly, pest control companies need to have thorough training procedures for all employees.  Those training programs should include safety programs to keep the employees and the clients safe at all times. In addition to adequate safety programs, pest control companies need to acquire adequate insurance coverage to protect the business from the unique risks each business faces. Here are six types of insurance coverage every pest control company should have.

Pest Control by Fumigation

Minimum recommended coverage for a Pest Control Company:

  • General Liability Insurance
  • Commercial Property Coverage
  • Business Personal Property Insurance
  • Commercial Auto Coverage
  • Inland Marine Insurance
  • Workers Compensation Coverage

General Liability Insurance for Pest Control

General Liability risks arise for pest control companies when employees travel off-premises in order to applying chemicals. Customers should be given proper instructions on controls regarding anyone or anything that could be exposed to hazardous materials while the application is going on. This is especially important for clients who have children, pets, sick and elderly individuals. In some instances, temporary evacuation is required during application. This may be  followed by a waiting period and re-ventilation to replace the fumigant with fresh air.

Commercial Property Coverage

Commercial  property risks depend on the type of property you own and operate as well as the types of chemicals being stored on the property.  It also depends on the amount of these chemicals you keep on the property and whether or not those chemicals are flammable. Hazards increase if the contractor fails to store the chemicals properly in approved containers, cabinets and rooms, with accurate labeling and separation. Speaking long and honestly with your independent insurance agent is always the best way to properly protect your business. This conversation should include exactly what the employees of your business do on a daily basis, what is the condition of the property you operate, and exactly what chemicals you are storing on the property.

Business Personal Property Insurance

Business Personal Property Insurance provides coverage to small businesses for furniture, fixtures, merchandise, materials and all other personal property owned by you personally and used in your business. The best part about this coverage is that it is generally at replacement cost. Many business owners think this type of loss is covered by their commercial property insurance, but it is not. This coverage can and should be added to most BOP or CPP Packages if there is a need for this coverage.

Commercial Auto Coverage for Pest Control

Automobile exposure in the pest control industry is extremely high due to the amount of time employees spend in their vehicles travelling to clients locations. In addition, there is the fact that the employees are also transporting chemicals throughout their workday. Drivers in some states may need a hazardous materials (“hazmat”) endorsement to transport some chemicals used. Risks increase if the insured lacks spill control procedures and equipment.

Inland Marine Insurance

Inland marine exposures in the pest control industry come primarily from the contractor’s equipment and the transporting of that equipment, chemicals and supplies to the customers’ premises. Equipment is not highly susceptible to damage, but it can be hazardous to both your employees and clients.  This equipment may include tarps, drills, measuring devices and other hand tools. The tarps and plastics used to enclose the areas to be fumigated may be bulky and require attention to folding and tying down. The chemical containers may be vulnerable to overturn or damage that causes leaking, which impacts the auto and premises liability exposures.

Workers Compensation Coverage

Workers compensation exposure can be high for the Pest Control industry. Common hazards include slips and falls during application; minor injuries while using hand tools; lifting injury and back injuries, hernia, sprain and strain. Employees can experience lung, eye, or skin irritations due to the chemicals. The impact of these chemicals can be immediate or long term.  In some Pest Control companies seasonal employees may make safety a challenge. Loss potential becomes severe if the contractor fails to train and supervise employees properly. This is especially important when it comes to the proper use of protective gear by the employees.

 

Business Liability Category: Pest Control Contractors

SIC Business Insurance Codes:

  • 7342: Disinfecting and Pest Control Services
  • 2879: Pesticides and Chemicals—Not Classified Elsewhere

NAICS Liability Classifications:

  • 561710: Exterminating and Pest Control Services
  • 325320: Pesticide and Agricultural Chemical Manufacturing

Business ISO General Liability:

  • 43860: Fumigators
  • 43470: Pest Control Services

Common Workers Compensation Class Codes:

  • 9014: Janitorial Services by Contractors (Florida—Exterminators)
  • 4828: Chemical Blending and Pest Control Fumigation
  • 9031: California Code—Pest Control—All Operations
  • 0046: Massachusetts Code—Pesticide Application

Painters

Painters or painting, staining and decorating contractors fill a great role within the construction industry. As the economy continues to recover the need for painters continues to grow. With the growth in this industry comes an increase in risk and a need for more insurance coverage. The risks in this industry are much different than if you run an auto repair shop or an HVAC company.

There are certain types of information you will need for a general liability and workers compensation quote. Here are 5 policies every painting contractor needs to secure in order to completely cover them and their employees.

Find the best info about insurance coverage for painters at My Insurance Question.

 

General Liability

General liability insurance is normally the first coverage any small business purchases. This is no different for a painting contractor. In most states this coverage is required by law to be in business. General Liability coverage will cover your liability to third parties for accidents that occur as a part of normal business operations. For painting contractors who work at remote locations, it is important to speak with your independent insurance agent about what exactly is and is not covered when you are operating on the premises of a third party. If you interact with a general contractor who has many contractors operating at one location it is important for you to make sure all of the other contractors have the proper insurance required for the work taking place.

Inland Marine Coverage

Inland marine coverage will cover any specialized equipment you or your employees use as part of your daily operations. This is an important coverage to secure, especially if you have expensive specialized equipment, because most basic policies will not cover this equipment when it is damaged. For instance if you have a van or a vehicle with a trailer carrying extra tools, when a wreck occurs your commercial insurance policy will cover your liability to the other person hurt in the accident and to fix your vehicle, but it will not pay to cover your specialized equipment. This is a coverage your agent can help you determine if you need it or not. Depending upon how much the equipment costs, you may be able to do without this coverage.

Commercial Property Insurance

Commercial property insurance is different from your personal home owners insurance policy. It is different primarily because it is sold one of two ways: Replacement cost or on an agreed upon value of the property. It may be tempting to go with an agreed upon value to save on premium, but this is almost always a mistake. This is because the agreed upon value is usually what the property is appraised at currently. This amount does not include the cost to tear down the dwelling and remove all the debris after a disaster occurs. This additional cost can be extensive.

Commercial Auto Insurance

Commercial auto insurance is also different from a personal auto policy. Commercial auto can be purchased for vehicles your business owns, but it can also be purchased for employees who drive their own vehicles or rented vehicles while on the job. This type of policy is called hired and non-owned auto coverage. Again, with this coverage it is important to take some additional time to speak with your agent about the daily operations of your business. If you are honest with them about what you do on a daily basis they can do their best to prevent occurrences from taking place where your business or your vehicles are not covered.

Workers’ Compensation

Workers compensation insurance is the second coverage a business purchases because like general liability insurance it is required by law in most states. Workers compensation is like general liability, but it applies only to your employees and not to third parties. If your employees are injured at work as a part of what would be deemed normal business operations, workers compensation coverage will pay them for some of their lost wages (typically 60%) and medical expenses. Depending upon the state in which you operate in and the accident occurs, there are time limits on how long the employee can collect workers compensation benefits. Having adequate safety programs and a strong return to work program will help your business from experiencing excessive damage to your experience modification rating.

 

Here at My Insurance Question you can find the best advice on the insurance policies all painters need.

Recommended Insurance Programs for Painters

Minimum recommended coverage:

•   General Liability

•   Inland Marine Coverage

•   Property Insurance

•   Commercial Auto Insurance

•   Workers’ Compensation

Other coverages to consider for Painters:
Business Personal Property, Employee Dishonesty, Contractors’ Equipment (Inland Marine), Umbrella Liability, Commercial Auto Liability, Goods in Transit, Environmental Impairment Liability, Stop Gap Liability and Employment Practices Liability Insurance (EPLI).

Restaurant Insurance

3 tips to find the best Restaurant Insurance. 

How much insurance do I really need? What are the correct types of insurance for my restaurant? What types of restaurant insurance can I do without? What is the bare minimum I can get away with for restaurant insurance? These are all very common question that insurance agents get asked when a restaurant owner is looking to protect their business for the first time or a seasoned business owner is looking to renew their coverage. The answer to this question is like many things; ‘It depends’. There are many variables that go in to owning and operating a restaurant and those variables bring on many risks. Not every business owner is comfortable with the same amount of risk.  Depending upon how much risk you are willing to take, here are 3 tips to help you make sure you are purchasing the amount restaurant insurance.

Are you classified correctly?

First off, the small business owner needs to make sure their business is classified properly. This applies for both workers compensation and general liability insurance. Each state has their own governing body for these coverages.  The best way to determine if you are properly classified is to ask for help from an experienced independent insurance agent. When talking with your agent, it is crucially important to be honest with them.  This is important for the time you are open, how much and what types of alcohol you serve and what exactly your employees do.  Restaurants are classified different based upon the risks they face. Being properly classified can save your business immensely.

Pay as you go option

Workers comp coverage is required by state law in 48 out of 50 states. getting this coverage in place is an enormous cost.  Pay as you go workers’ compensation is s a great option for seasonal or cash strapped businesses. Pay as you go workers’ compensation allows a business to pay premium based upon the amount of payroll as opposed to an estimate of the monthly payroll. For many businesses they can get coverage in place for as little as a few hundred dollars.

Determine the proper type of Commercial Auto Insurance

Many business owners do not think they need any type of commercial auto insurance. Just because your business does not own vehicles, doe snot mean you do not need to secure some form of commercial auto insurance. If you do own vehicles that are going to be used for business purposes you most definitely need commercial auto insurance coverage. Also, if you have employees who use their own vehicles for business purposes than the business is liable for all accidents. Hired and Non-Owned Auto Coverage is a policy that kicks in when your employees use their own vehicle or a rented vehicle not owned by the company. Regardless of how small the activity may seem, when the employee is using any vehicle to do business activity you are liable.

 

 

5 Tips about Insurance for Restaurant Owners.

Business Interruption Insurance

Business Interruption Insurance is the key when disaster strikes your business.

Business Interruption Insurance is the key to protect your business when disaster strikes.

Having good commercial insurance is essential to the long term stability of your business.  It is a product that is necessary for you business, but a product you hope you never have to use. When there is a disaster that strikes your business, the quality of your coverage can mean the difference between a bump in the road and the end of your business.  One key policy to help your business whether the storm when a disaster strikes is business interruption insurance.

According to the Insurance Information Institute, “Business interruption insurance compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire. Business interruption insurance covers the revenue you would have earned, based on your financial records, had the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt”.

This policy is normally offered as part of a Business Owners’ Package, but not always.  It is important to confirm with your agent if this is included in your package.  If it is not they will more than likely bring it to your attention as an add-on.  It is a policy to strongly consider for your business.  This business can help you pay necessary bills, retain key employees and may just be the difference between success and failure when a claim occurs.

In most states general liability and workers compensation insurance is required by law, but those are the bare minimum coverages any business should secure. Most businesses need several additional coverages to properly protect the organization.  If you own property or vehicles their is a need for commercial property and auto coverage.  If you own specialized equipment there may be a need for inland marine coverage.  The one frequently forgotten coverage is business interruption coverage.  Many small business owners fail to anticipate how they will pay their bills in the event a claim causes their business to be closed for a period of time.  When this occurs the bills keep coming and payroll has to be met.  If you are a cash strapped company, failing to secure this coverage may cause the ultimate failure of your business.

HVAC Contractors

Heating and Air Conditioning Contractors ( HVAC Contractors ) are those business that provide services for and repair heating and air conditioning units.  They provide these services for both commercial and residential clients.  They have to be knowledgeable about both duct and vent work, the different types of fuel sources for heating equipment, which can be natural or LP gas, electric, steam, solid fuel, coal, or fuel oil.  Many contractors also install, service, and repair air conditioners. While air conditioning units are normally electric-powered, they are charged with different coolants, some of which may be hazardous.

All of these different types of work bring their own unique risks to the contractor. For this reason, it is very important for you to have an extended conversation with your insurance agent about all of the types of work you do and do not participate in.  It is equally important to inform your agent if there are certain types of work you do not partake in. There are more than one classification code for this industry and the types of risks you take on can dramatically impact what you pay in premium for a number of commercial insurance policies.  Below are 6 policies most HVAC Contractors need to secure in order to protect their business properly.

•   General Liability

•   Property Insurance

•   Hired and Non-Owned Auto (full commercial auto if vehicles owned)

•   Inland Marine

•   Business Income with Extra Expense

•   Workers’ Compensation

General Liability Insurance

General Liability Exposures at the contractor’s office or shop are generally limited due to lack of public access to the premises. Retail sales increase the possibility of customers slipping, falling, or tripping if customers visit office to view products.

Property Insurance

Property exposures at the heating contractor’s own location are generally limited to those of an office, shop, and storage of materials, equipment, and vehicles. Operations may also include retail sales. The fire exposure is generally light unless repair operations involving welding take place on premises. Welding involves the use of tanks of gases that must be stored and handled properly to avoid loss. The absence of basic controls such as chained storage in a cool area and the separation of welding from other operations may reflect a greater risk.

Commercial Auto

Automobile exposures are generally limited to transporting workers, equipment and supplies to and from job sites for HVAC Contractors. Hazards depend on the type and use of vehicles and radius of operation with the main hazards being upsets. Vehicles may have special modifications or built-in equipment such as lifts and hoists. Large heating systems may be awkward and require special handling and tie-down procedures. Age, training, experience, and drivers’ records, as well as the age, condition and maintenance of the vehicles are all important items to consider. If employees utilize their own personal vehicles for work related tasks then Hired and Non-Owned Coverage should be purchased.

Inland Marine Coverage

Inland marine exposures include contractors’ tools and equipment, including ladders and scaffolding, hoists, and portable welders, the transport of materials, and installation floater. Goods in transit consists of tools and equipment as well as products purchased by the customer for installation at the job site. HVAC units can be of high value and susceptible to damage in transit; they frequently require expertise in loading to prevent load shift or overturn.

Workers’ compensation

Workers compensation exposures vary based on the size and nature of the job. Both residential and commercial work involves lifting, work with hand tools, wiring, and piping. Cuts from the fabrication and installation of sheet metal for ducts and vents are common. Lifting injuries such as hernias, strains and sprains plus back injuries may occur. Electrical burns are common; electrocution can occur from the use of high-voltage lines. Any time work is done above ground, injury or death from falls and being struck by falling objects can occur. Slips and falls, foreign object in eyes, major and minor burns, and inhalation of fumes are all potential hazards.

Food trucks

How much insurance do owners of food trucks need?????

    • Food Trucks are a booming industry.  In 2015, the industry represented more than 1.2 billion in annual sales. This booming industry has contributed to an annual growth rate of more than 12% over the 5 previous years. Because of this popularity many more business owners entering the market. As they enter the market there are many risks that come to this industry. Many business owners in this industry got their start in the traditional restaurant industry. There are many more risks that come with a restaurant that is mobile and processing many transactions at a remote location. Those risks are much different from a traditional restaurant, a non-profit organization or even a home health care agency. For this reason, food truck owners need to have a strong relationship with an independent insurance agent who can help them properly protect their investment. Here are 5 coverages most food truck owners need to secure, in order to properly protect their business.
    • General Liability
    • Commercial Auto
    • Inland Marine
    • Cyber Insurance
    • Workers Compensation

Food Trucks

    General Liability
    • General Liability is the first and most essential coverage a food truck owner will need to secure in order to protect their business. It is required by law in most states depending on the way in wh
    ich your business is classified and how much revenue you generate.
    Commercial Auto
    A Commercial Auto Policy will be essential to food trucks.  This will cover the main body of the vehicle if it is damaged in an accident.  It will also cover your liability to the other vehicle in the crash if the accident is the fault of you or your employee. A commercial auto insurance policy is not all encompassing.  The equipment kept inside your vehicle or pulled behind a trailer is not covered by a commercial auto policy.  These pieces of equipment will be covered by an inland marine insurance policy.
    Inland Marine
    An Inland Marine Insurance Policy is designed for specialized equipment that is meant to be in transit. The very nature of the food truck industry makes this coverage essential. One key to making sure all of your equipment is covered, is to have a detailed conversation with your independent insurance agent about what types of equipment you have and exactly how you use that equipment.
    Cyber Insurance
    Cyber Insurance is a necessary coverage far too many food truck owners do not realize they need. Even at a mobile workstation like a food truck, a majority of the purchases will be made with a card or mobile device. Depending upon what type of mobile Point of Sale software you use this can open up your business to becoming a victim of a data breach.  If you secure the proper coverage it can help you recover from the damages your business faces as a result of a data breach. The coverage can help you make your customers whole again and it can help you restore the damaged image of your business as a result of a data breach.
    Workers Compensation
    Workers Compensation insurance is required by law in 48 out of 50 states. Each workers compensation system is regulated by the individual states and each states’ system has specific exclusions based on how many employees you have, the revenues of your business and certain industries.  You may not be required to secure this coverage depending upon your specific state. Even if you are not required to secure this coverage it is more than likely beneficial to you to secure this coverage once you hire an employee not in your immediate family.

Find in-depth information about the best insurance for food trucks at MyInsuranceQuestion.com

Florist

How much insurance does a small Florist really need?

Here are 6 Insurance Policies every Floral Business should consider

How much and what types of insurance coverage a florist needs really depends on the size, type and scope of the business.  If the florist only sells flowers at one location, it may not need all of the coverages discussed in this blog post. If the florist business designs flower arrangements or provides delivery service it opens up your business to an enormous amount of additional risk.  Here are 6 insurance coverage’s all floral businesses should strongly consider securing.

Florist designing a spread of flowers for a wedding.

General Liability

General Liability Insurance will protect your business from property damage and bodily injury claims of third parties.  Third parties can be anyone not associated with your business that is harmed by the actions of your businesses operations.  Included in this group of people can be customers, vendors delivering products to your facility or even a plumber who comes to work on your toilet.

Professional Liability

If you are designing floral arrangements for special occasions like weddings, funerals, Valentines Day or Christmas; you can be sued if the designs are not up to the expectations of the customer.  The lawsuits do not have to be founded to cost your business immensely in legal fees and reputation management.  A Professional Liability Insurance Policy will help your business withstand the costs to defend your self in court and for missed time at work spent defending you and your business.

Commercial Auto/Hired and Non-owned Auto

If your business uses vehicles as a part of normal business operations than you need to secure one or both of these coverages. If the business owns a vehicle and that is the only vehicle used for business purposes than a commercial auto policy should suffice your business, but if you have employees who use their own vehicle or rented vehciles for any part of their job than you need to secure the addition of hired and non-owned auto coverage.

Commercial Property

A commercial property insurance policy is needed if your business owns and operates any property as a part of your operations, no matter the size. It is different than a traditional home owners policy.  Commercial property policies are sold on a replacement cost or on an actual value basis.  It is usually best to purchase a replacement cost policy.  This type of policy will cover the cost to tear down, haul off and replace the property that is damage.  An actual value policy will pay you an agreed upon value of what the property is worth.  In most cases this will not pay the entire amount to make your business whole again.

Inland Marine

If you own any specialized equipment or equipment that is designed to be in transport frequently, you have a need for Inland Marine Coverage.  A commercial property will cover your facility.  A commercial auto policy will cover your vehicles.  If you have specialized equipment you use to design and maintain the arrangements or an attachment to your vehicle like a trailer it will not be covered by either of these policies. This is where an inland marine policy can be added to cover this specific equipment. Taking additional time with your agent to explain all the details of your business can make sure you secure all of the policies your business needs.

Workers Compensation

Workers Compensation Insurance is required by law for most businesses in 48 out of 50 states. The system is managed by the individual states, so it is important for you to check with the proper state governing agency to ensure you are compliant with your states laws and regulations. Even if there is an exclusion for your business to not carry the coverage, it is usually in your best interest to still secure workers comp coverage. This insurance policy will protect your business from being sued for most injuries that occur as a part of normal business operations. It also provides medical coverage and reimbursement of some lost wages for workers injured as a part of normal business operations.