Melbourne, Fla.— A Business Owners Policy (BOP)
could be considered the first step, since it’s the most cost effective and efficient way to provide property and liability insurance for small manufacturing operations. But there are also many other variables that might drive you consider broader options for a more comprehensive coverage.
This type of coverage takes care of any real estate your business owns. The policy also covers the rest of your business’ property—equipment, machinery, raw materials, inventory, and others.
General Liability for Florida Businesses
If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.
It is no secret that Florida business owners are at high risk of getting sued. A General Liability insurance can prevent a legal suit from turning into a financial disaster if your business is ever sued or held legally responsible for some injury or damage. General Liability coverage pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations.
There is a broad range of General Liability protection—
Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury.
Property Damage coverage for the physical damage to property of others or the loss of use of that property.
Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided.
Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents.
Contractual Liability extends to any liability you may assume by entering into a variety of contracts.
Additional types of coverage are also available, ask one of our local commercial insurance specialists at Melbourne Truck Insurance.
Business Vehicle Insurance
What does commercial auto insurance cover, and why is it important? As a Florida Space Coast business owner, you need similar insurance coverage for the company cars, trucks, vans or other vehicles you use in your business as you do for vehicles used for personal travel. A commercial auto insurance policy is required under most circumstances when a vehicle is used for business purposes and meets certain other requirements. It is not just registration that determines the requirement for a business automobile insurance policy. Other factors include ownership by a corporation, use in hauling goods for hire and gross weight of the vehicle. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances.
Typical classes of Commercial Auto Insurance include contractors, manufacturers, retailers, distributors, and wholesalers among others.
The category of commercial trucks involves several types of large vehicles, including:
Big Rig (tractor-trailers or 18-wheeler)
Auto Haulers and Car Trailers
Pick up Trucks
Florida Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. It eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer. This type of coverage is designed to help companies pay these benefits. Although it is not healthcare insurance, the workers compensation policy is designed specifically for injuries sustained on the job.
In Florida, if you have employees, you are required to carry Workers Compensation coverage.
We understand that managing your budget is a key concern, the good news is that you don't have to give up quality to get the right coverage, at Melbourne Truck Insurance we can help you evaluate options, limits, and deductibles and provide your with quotes from several carriers so you can stay in the driver’s seat when it comes to your coverage, and own the process.
If you own —or may be considering to start a business in Florida's Space Coast, Melbourne Truck Insurance offers you insurance options that grow with your business. Compare the offerings from different insurance carriers, and save. Contact us for an initial consultation (321) 329-5556. (321)329-5556