what kind of insurance do you need for a business?
I am not confident of the kind of insurance policies coverage my father inlaw demands. He started out a courier/delivery (bulk mail & modest offers) assistance & some places tell him he needs to be bonded to make deliveries. Good. I known as a bond company & they stated they dont cover this kind of things & that he demands enterprise insurance policy.
Will that go over what is necessary? That just doesnt audio appropriate to me. I considered he would want to be bonded simply because he might be transporting things of appeal, like contracts, mail, income, paperwork and many others.
What does he require & who gives it?
Best answer:
Reply by misydoll
He demands organization insurance policy, liability insurance and the bonding is component of the organization insurance policy with most firms. Talk to your nearby agent, a person you can believe in. Ususally you would create a policy covering your developing and materials, liability and any vehicles you might be delivering your deals in.
What do you think? Answer below!
December 13th, 2011 at 3:31 pm
Call a broker. He’ll need General Liability, a bailee form since he’ll be in the care custody and control of others property, Commercial Auto and worker’s comp and disability if he has one or more employee.
December 13th, 2011 at 4:06 pm
Each state is different but in my state I’d suggest that he get a business liability policy and a general liability bond. Bonds of this type are not required but they make potential clients feel secure. Also, he sould check with his auto insurance agent as many personal auto policies don’t cover vehicles being used for delivery and he may need a commercial auto policy.
December 13th, 2011 at 4:14 pm
He’s going to need at least three types of coverage. 1. General liability, for the operations and office premises 2. Commercial auto, with PUC filings as he’s transporting for others for a fee, and 3. Inland marine or motor truck cargo policy, possibly wiht a PUC filing, as he’s got the property of other’s in his care, custody & control.
Bonds don’t mean what people generally think they mean.
A competant, independent insurance agent should be able to line him up with the correct coverage. But keep in mind, it’s not cheap, especially if he goes over state lines. Expect to pay about $ 5,000 per year, if there is ONE delivery vehicle.
December 13th, 2011 at 4:51 pm
Fire Insurannce
Float Insurance
Workers Insurances (Job/Employees)
Business Insurance
Employeer(Boss) Insurance, etc…you could go to any of the Insurances company to apply for those policies.