There are many important factors that commercial car carriers must consider when they’re selecting insurance. When you’re getting coverage for your vehicles that are used for transport, you need to get policies that will comply with all applicable regulations and also address the full scope of your liability exposure.
Coverage for car carriers may be regulated by the state in which they base their operations. However, depending on a carrier’s cargo and activities, it may be necessary to obtain coverage that is greater than minimum regulatory requirements.
Liability for Damage to Cargo
A car carrier can be liable for any damage to cars that it is carrying. It’s important that its liability insurance is adequate to cover the full value of potential damage to its cargo.
Even the most experienced drivers could be involved in an accident with another driver. Regardless of who is actually at fault in an accident, a semi driver’s liability could be significant.
A fault in the equipment that secures and unloads vehicles could result in an accident that causes serious property damage or personal injury.
Insurance is an integral part of a car carrier’s risk management plan. It’s advisable to work with an insurance company that is experienced in serving clients in your field and can help you obtain the right coverage.
Cleaning companies have unique operations and risk exposure that require careful consideration when a company is making insurance coverage elections. A comprehensive package policy needs to incorporate several different elements.
Addressing Risk Exposure
Coverages for cleaning companies need to encompass many different forms of risk exposure that cleaning companies take on in their day-to-day operations. When companies go onto another individual’s or business’ premises to work, it’s possible that they could damage property there. In addition, they may even face claims for damage that they weren’t actually responsible for creating.
Business Property and Automobile Insurance
A commercial package policy for a cleaning company will need to include coverage for personal property used in cleanings, such as equipment and supplies. In addition, it will need to include a policy for the vehicle that it uses to travel to different locations.
A cleaning company may be required by law to carry workers’ compensation protection. This will help provide for an individual’s medical expenses if he or she is hurt on the job.
Cleaning companies should work with an insurer that has extensive experience serving clients in their industry. They can offer practical insight as to what types of policies will be required to build a complete package and guidance about selecting appropriate coverage levels.