Business insurance is a complex system of products, each designed to address the needs of a set of industries with common liabilities and risks. That’s why so many companies need to opt into a sequence of coverage options, sometimes using different carriers to meet those needs. If you work in the petroleum industry, there are some insurance types that are unique to your business, as well as others that are more common across industries that you also need. If your business has employees, you’ll need workers compensation. General liability is also a basic requirement, and if you have public storefronts, possibly public liability insurance as well.
Finding Coverage for Petroleum-Specific Risks
Once you have the basic insurance types that businesses with storefronts and customers all have to deal with, you also need to consider vehicle coverage for your delivery vehicles, as well as coverage that is specific to the risks involved with transporting and dispensing propane. Luckily, there are a few insurers who specialize in understanding propane dealer risks. If you find the right one, you might even be able to bring all of your coverage options together into a single umbrella policy that addresses all the coverage needs you have across your entire company. That way, you can save money and simplify your insurance planning and review each year.
Knowing that anything can happen on the road, staying protected is key to maintaining a reputation and ensuring trucking operations continue. Motor truck cargo liability coverage is designed to protect the insured and the owner of the goods during transportation. Unlike other forms of vehicle insurance, this type of coverage can seem complicated.
What It Is
At a minimum, for-hire trucking requires carrier liability. This limited coverage typically includes injuries or damage to property but not the cargo being transported. Any damage to the precious cargo clients entrust a trucking company with could come with devastating financial results. Cargo liability, which is often required by clients, offers protection for specific or a series of shipments. While every policy is different, it is designed to cover losses such as fire, theft, water damage, collision and equipment failure.
What to Consider
The cargo itself factors into how the policy works. Limits and costs depend on the type of load, where it is being transported from and its destination. In many cases, certain types of cargo are excluded from this coverage. These often include:
- Art, jewelry, money or paper
- Alcohol, pharmaceuticals or tobacco
- Live animals
- Cargo with another carrier
- Items owned by the insured
- Shipping containers
According to www.truckinsure.com, it is also important to factor in theft, which is capped, and unattended vehicle coverage, which typically means zero coverage, when developing transport plans and choosing the right insurance package.
Emergencies and accidents can happen anywhere, even in Miami. With storm season hitting harder each year and crime being a constant danger, it is a wise decision to create some shield of protection around the people and items you love. A Miami insurance agency can help you do just that. Each agency has a team with the skills and knowledge to build policies that work in your favor. Here are a few policies you should consider before finalizing your contract with an agency.
Miami is a marvelous city for residents and businesses. Still, even this paradise can be a hit with a dangerous storm. Flood insurance can help you deal with damage to property at your home like floors, walls and furniture. This coverage can also help businesses repair their electronic systems and foundation.
While it is not required by state law, boat insurance is crucial if you want to save your wallet from tough expenses. Rates will depend on your boat’s size, your personal history and your planned boat use. There are different policies that fall under this coverage like property damage and liability insurance so make sure to ask your provider about will work for you.
Marine coverage helps large businesses with their property while it is shipped. This insurance can include protection for equipment, theft, infestation and delivery delay. If you are ready to create your personalized coverage, then call your local Miami insurance agency today!