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Commercial Auto Insurance: Quotes & Coverage

As already noted, commercial auto insurance will cover business vehicles that are either owned by the business or the individual that is using the vehicle for business purposes. The types of vehicles that can be covered by a commercial auto policy are manifold and include the following: Passenger cars. Vans. Pickups.

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How Much Does Commercial Auto Insurance Cost

What Does Commercial Auto Insurance Cover? One way in which personal and commercial auto insurance are similar is the fact that both offer a wide range of coverage that protects you and your vehicles, including: Property damage liability: Covering costs that result from damages caused to someone else’s property.

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OCIPs & CCIPs: Understanding Wrap-Up Insurance …

Commercial Auto Insurance: Since it’s very hard to confirm that auto damages occurred while on the job and false claims are a lot harder to identify, OCIPs will not include commercial auto insurance. If the contractor needs auto insurance, they are going to have to buy it themselves.

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What Is Excess Liability Insurance

Excess liability insurance covers claims that exceed the limits of a primary insurance policy. If a business hits the per-claim or aggregate coverage limit on a particular primary policy, excess liability insurance will kick in to cover the amount in excess of the underlying policy limit. When excess liability insurance is designed to extend

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How to Grow Your Insurance Book of Business

For most veteran insurance brokers and agents that are already established, growing their book of business may mean having to venture into uncharted waters. The time always comes in a broker’s career when they reach a natural ceiling of how much their business can grow through networking, referrals, and modest advertising.

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Does My Company Need Business Insurance

If you and your employees are using vehicles for any business processes, you’re going to need to purchase a commercial auto insurance policy to make sure that you’re protected from potential losses resulting from vandalism, theft, or accidents and resulting third-party bodily injuries and property damage.

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Additional Insured vs. Loss Payee

A loss payable clause is usually added to a commercial property or commercial auto insurance policy, especially when there are items involved in the work that are being leased or financed. If you are listed as a loss payee on your business partner’s policy, the named insurer must notify you of all claims filed or changes that are made to the

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Cannabis Insurance: Policies Your Business Needs

An employee’s personal auto insurance will not provide coverage in the event of an accident or robbery, as this policy usually excludes business use. That means that your business can be held liable for damage to vehicles, injuries, and medical bills. Leveraging a hired owned and non-owned policy can improve your risk management program.

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Certificate of Insurance (COI): What Is It & How to Get It

The certificate of insurance was created in order to make it easier to show proof of insurance to your clients and business partners. Instead of sending them your entire insurance policy contract to see, you can send them a one-page document detailing all the most vital information related to your policy. If you have personal car insurance

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What Is Third-Party Liability Insurance

A mechanic working for your auto repair company damages a car that your customer brought in for repair. These are a few standard examples of what typical third-party claims look like. In such cases, your third-party liability insurance would cover legal costs, medical bills for bodily injuries, and repair costs for property damage.

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What Is An Additional Insured Endorsement

Most commonly, you’ll see businesses add additional insured parties to commercial general liability, professional liability, and commercial auto insurance policies. Important Note: Adding an additional insured party to a policy does not mean that they will always have the same exact coverage and benefits as the named insured.

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How Much Does Restaurant Insurance Cost

Commercial Auto Insurance. Does your restaurant offer deliveries or catering services? Then you should have commercial auto insurance as well. Even if you are a small business or catering service and you’re using your personal vehicle to bring your customers food, you should purchase this coverage, because your personal auto insurance is not

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The Average Cost of Employee Benefits

Life Insurance. Life insurance benefits can help replace your employees’ income if they pass away. Adding life insurance as a group coverage is an attractive option for both the company and employees, since it’s relatively inexpensive, costing a few hundred dollars annually.

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Insurance for Startups: Custom-Built Coverage

Operations Begin: Commercial General Liability Insurance. Protects your business as it grows. Covers lawsuits claiming bodily injury or property damage from your product or operations. Provides coverage for personal and advertising injury, such …

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A Guide to Drone Insurance for Drone Companies

Enhancements can include coverage for kidnap & ransom, business travel accident, and contingent auto coverage. Commercial Crime Insurance: Commercial crime coverage will protect the drone company from criminal activity (employee theft, forgery or alteration, computer fraud, embezzlement, etc.). The policy offers first and third-party coverage.

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Product Liability Insurance: Cost, Coverage & Quotes

Product liability insurance is in some ways similar to general liability insurance, but it is a unique form of insurance that is specifically designed for businesses that manufacture and sell products. Product Liability vs. General Liability

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How Much Does Commercial Umbrella Insurance Cost

Insurance rates vary considerably by state. Businesses operating in high-population, metropolitan areas will usually have higher premiums than those in less urban areas. If your company has property in a high-risk area or a particular area that is known for natural disasters or crime, your premium will also be higher. Auto Insurance Policy

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What Are Insurance Loss Runs and Loss Run Reports

Insurance Explained. Loss run reports are, essentially, the insurance world’s equivalent to credit scores. Just as a bank would want to see your business’s credit score before offering you a loan, insurers want to see a loss history before providing coverage. This report will reflect on how well the business is operating and managed.

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Commercial Umbrella Insurance: Policies & Quotes

One bad accident can easily outcost your auto insurance and leave you exposed. Basically, your industry type and your company’s level of exposure to the public are the two main factors that drive the need for commercial umbrella insurance. The greater the risk of third-party liability claims, the greater the need for umbrella coverage.

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Restaurant Insurance: Coverage You Need & Quotes

Commercial auto insurance acts much like a personal auto policy but also includes coverages specific to business operations. Employment Practices Liability Insurance (EPLI): EPLI provides protection against employee claims related to issues such as wrongful termination, harassment, and discrimination.

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Embroker Access: Insurance Platform For Brokers

Get access to our best-in-class insurance products, instant quotes, and the industry-leading management portal for brokers. Partner With Us. In cooperation with Munich RE and Everest RE. Built by brokers for brokers. Best price and broad terms. What You’ll Get. Growing Commissions.

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Is Business Insurance Tax Deductible

Commercial Auto Insurance: This policy covers liability and property damages related to accidents that occurred in business-owned vehicles while an employee of your company was operating it. One of the most important things to note with commercial auto insurance is that you cannot claim both a deduction of your auto insurance premium and the

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Commercial Property Insurance Cost Breakdown

For example, damages to your business vehicles, even though they are technically business property, should be covered by a commercial auto policy. And while property insurance will enable you to replace or repair your damaged or destroyed property, it will not provide you with the financial help needed to keep your business afloat while repairs

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Retail Insurance: What Policies Do Retailers Need

If your retail business delivers products, or you have drivers that deliver products from warehouses to your stores, then you are going to need a commercial auto policy to protect your drivers in the case that they get into an accident. Inland marine and cargo insurance should be considered as well if you are transporting products regularly

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A Guide to Real Estate Risk Management

Any agent or broker that spends a lot of time in their vehicle should seriously consider purchasing commercial auto insurance because if you get into an accident while driving for work-related reasons, your personal auto insurance is not going to cover those costs. If you’re looking to cover cars that your company rents for agents or the

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How Much Does Builders Risk Insurance Cost

When calculating a premium for this policy, insurers will look at the following factors, among others: When insurers are asked by clients how much they can expect to pay for builders risk insurance, a common calculation that usually gives a good estimate is that the policy will cost 1-5% of the construction project’s total budget.

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Do You Know What Your Business Insurance Policy Covers

Questions 3 & 6: Commercial Auto Insurance on Company Vehicles . Most states require by law that company vehicles be insured by a commercial auto insurance policy and some states may even require uninsured or underinsured motorist coverage. The amount of insurance required varies depending on the state, number of passengers, vehicle weight, and

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Commercial Property Insurance: Coverage & Quotes

Commercial property insurance helps protect your business against asset loss. It is a core coverage in business owners policy (BOP) insurance. While the terms of a policy and explicit coverage vary from policy to policy, there are virtually no industry-specific differences. The policy terms, limits, and retention should be tailored to reflect

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Insurance for Nonprofits: Liability Coverage You Need

Commercial Auto Insurance: If your nonprofit uses cars, trucks, and vans in your daily operations, they will not be covered by a personal auto insurance policy. A commercial auto insurance policy provides liability coverage that will pay for damages to third-party property or injuries resulting from accidents involving your vehicles.

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Business Insurance Trends & Product Updates

Commercial auto insurance provides financial protection for your business when accidents involving your work vehicles occur. Read More . Embroker News My Path to Insurtech – Tyler Chalk. My Path to Insurtech – Tyler Chalk 4 min read.

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Commercial Package Policy (CPP)

Commercial Auto Insurance: Covers damages related to vehicles owned by your business or private vehicles used for business purposes. Commercial Crime Insurance: Covers financial losses resulting from employee dishonesty , burglary, fraud, forgery, and other business crimes.

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Commercial Real Estate Insurance: Cost, Quotes & More

A commercial auto insurance policy provides liability coverage that will pay for damages to third-party property or injuries resulting from accidents involving your business vehicles. You’ll also be able to get coverage for any medical bills of your own and damages that your vehicles may incur. Crime Insurance Policy:

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SaaS Insurance Guide: Coverage for Software Companies

Workers Compensation Insurance: Workers comp will pay for medical care and lost wages if an employee suffers a work-related injury. For SaaS companies, the cost of this policy will be on the lower end since most work is behind a desk. The lower the risk of physical harm or injury on the job, the lower your rates will be. Once your SaaS company has an …

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Embroker 101: Modern Insurance for Growing Businesses

Embroker is the leading digital commercial insurance brokerage. We pair industry-leading tech and data capabilities with specialized expertise to make insurance work better for your growing business. With the aid of technology and data, our empowered brokers find you the best value on the right coverage and protect your valuable time.

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Roofing Contractor Insurance Coverage Guide

Commercial auto insurance will cover damage to third-party vehicles and offers personal injury protection and medical payments for you and your employees if someone is injured while operating a work vehicle. It will also cover third-party bodily injuries if you or your workers are involved in an accident in which a third party is injured.

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Business Owners Policy: BOP Insurance Coverage & Quotes

A Business Owners Policy (BOP) is a package of insurance policies that the majority of business owners need to have—which is why insurance carriers bundle these coverages and sell them as one product. More often than not, a BOP is sold to small and medium-sized businesses, since large corporations tend to have more complex risks that require

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Construction Insurance: Coverage & Policies for

Commercial Auto Insurance: Vehicles are usually very important to the work of contractors, which means that all of the cars, trucks, and vans that you use in your construction work should absolutely be covered in your insurance coverage. A commercial auto insurance policy provides liability coverage that will pay for damages to third-party

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Business Owners Policy vs. Commercial Package Policy

A CPP can include a plethora of coverages, including errors and omissions, auto insurance, employment practices liability, pollution liability, and more. A CPP allows you to bundle the exact policies you need and enables you to pay less for them than it would cost you to buy every one of those policies individually.

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Business Interruption Insurance Coverage & Policies

Business interruption insurance helps replace the lost income and other expenses if a business is forced to temporarily shut down due to a covered peril that affects its commercial property. Covered perils typically include natural disasters such as fire, wind, or lightning, as well as theft and falling objects.

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What Types of Business Insurance Does Your Company Need

Commercial Auto Insurance: If you or your employees use a vehicle for business, it probably won’t be covered under personal automobile insurance. Commercial auto insurance will extend auto coverage to business operations. Employment Practices Liability Insurance (EPLI): Any business with employees should look into EPLI.

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Creating a Risk Management Plan for Your Business

Commercial Auto Insurance: Protects you, your employees, and any other hired drivers against financial responsibility in the case of a work-related car accident involving injury to people or property. Workers Compensation Insurance:

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Commercial General Liability Class Codes

Insurance companies can deny coverage to a business because of its class code, For example, imagine you own a car dealership and have recently purchased general liability insurance for your business. Later that year, you decide to add auto repair services to your business. If you or one of your workers gets injured repairing cars, there’s

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