Nearly three quarters of all the products shipped around America come to us via trucks. That’s about $6.5 trillion worth of goods. If you’re a commercial trucker or own a commercial truck fleet, you know that commercial truck insurance is a cost of doing business. If cheap commercial truck insurance is your goal, it helps to understand your requirements, options and how commercial truck insurance quotes are arrived at.

All truck drivers are required by federal law to carry commercial truck liability insurance. This covers damages or injuries to other people. The amount of commercial truck liability insurance required will coverage will vary from state, except in the case of tractor trailers, which must carry a minimum of $750,000 to operate. Commercial truck liability insurance provides both intrastate and interstate coverage.

Commercial vehicle insurance quotes for your truck will be based on several factors. As with all vehicular insurance, the driver’s age will play a big part in determining how cheap your commercial truck insurance will be. So will the driver’s level of experience with the same type of truck. For example, 10 years of experience driving a straight truck will not automatically result in lower commercial truck insurance quotes if that driver switches to a tractor trailer. The number of years a driver is employed is also taken into consideration. Where a trucker drives can also have an impact; a driver whose route takes him or her through a big, congested city can probably expect to pay more for commercial truck insurance than a driver with a rural or small town route.

Of course, among the biggest factors determining commercial truck insurance cost is the trucker’s driving record. Multiple moving violations, whether while on the job as a trucker or while driving a personal vehicle, will push up the commercial truck insurance quote, as will accidents. Both are clear indications that a driver is a poor risk and statistically more likely to be involved in future accidents or moving violations.

If you own a fleet of commercial trucks, your DOT safety rating will be taken into consideration when potential carriers provide commercial truck insurance quotes. Regardless of the size of your fleet, you can exert some proactive control by having a basic safety program in writing that covers such procedures as driver hiring and qualifications criteria, safety training, driver supervision, drug and alcohol testing, vehicle inspection and maintenance and standards for accident investigation and reporting.

Article source: http://www.einsurance.com/journal/commercial-vehicle-insurance-truckers-insurance-basics/

In the case of starting a home business, or moving your business into your home, there are likely to be additional electronic items such as computers, monitors, printers, phones, fax machines, scanners, etc. In addition, depending on the kind of business you are in, there may be supplies, samples and products that you may store in your home for a period of time. In the event of a sudden loss, such as a fire or theft, it could be quite costly to replace all of these items, in addition to the entire contents of your home. Therefore, in estimating the coverage you need for your personal property, do not forget to include items related to your business.

One thing to be aware of – oftentimes Homeowners Insurance Policies and Condominium Owners Insurance Policies limit coverage for tangible business property to a specific dollar amount, i.e. $10,000. Therefore, when shopping for homeowners insurance quotes or condominium owners insurance quotes, be sure to know how much personal property you have that is related to your business and make sure you have enough coverage for that property. In the event that you need more than the policy’s limit for business property, you may need to inquire as to specifically insuring that property. Also be aware that Homeowners Insurance Policies and Condominium Owners Insurance Policies also may contain even smaller limits for your business property away from your residence, i.e. $1,000. Therefore, if you regularly carry with you business property in excess of $1,000, you may want to inquire as to specifically insuring that property as well.

To shop for home owners insurance quotes from homeowners liability insurance companies providing coverage in your state, visit our home owners insurance quotes pages

Article source: http://www.einsurance.com/journal/homeowners-insurance-what-is-covered/

The goods America’s truckers haul each year are worth billions. Motor truck cargo insurance protects the value of the load you’re carrying up to a limit set by you when you purchase commercial auto insurance for your truck carrying cargo. While you aren’t required by federal law to carry this type of business truck insurance, the company you’re driving for probably will insist that you have it.

This type of business truck insurance provides legal liability coverage for both common and contract truckers while they are hauling cargo belonging to someone else. Under this type of business truck insurance coverage, the trucker is the insured party and the covered property is the property of others that is being transported by the insured trucker. In either instance, the trucker is liable for that property as a common carrier under the terms of a bill of lading ( which must be produced to the claims adjuster in the event of a claim situation) or as a contract carrier under terms spelled out in the shipper’s contract.

Your legal liability under this type of business truck insurance will differ depending on whether you are a common carrier or a contract carrier. Basically, as a common carrier you assume full responsibility for the safe delivery of the cargo you’re hauling. In other words, you have strict liability or liability without fault, except under several circumstances. These include: an act of God (an unanticipated storm, for example); public enemy (a terrorist attack, for instance); inherent vice (something is inherently wrong with your cargo beyond your control) ; act or fault of the shipper like shoddy packaging; or public authority (a government agency confiscates your cargo or places it under quarantine). As a contract carrier, your individual contract with the shipper will spell out the details of the liability you’re assuming. 

Under most business truck insurance policies covering cargo liability, your risk exposure begins when the cargo is delivered to and accepted by you. It ends when you deliver the shipment to the specified destination and it is accepted by the designated consignee. However, be aware that there are several conditions and extenuating circumstances regarding delivery that may affect your cargo liability, so read your business truck insurance policy carefully and understand truckers insurance basics.

Article source: http://www.einsurance.com/journal/business-truck-insurance-cargo-coverage/

The basic Texas commercial truck insurance requirement is commercial auto insurance, which provides any business-owned or leased commercial truck with coverage for property and personal damages to others. Depending your policy, your Texas commercial truck liability insurance may also include collision and damage coverage for your vehicle.

Texas commercial truck insurance will typically include this coverage:

• Bodily injury liability covers bodily injuries to others caused by a truck owned or operated by you.

• Property damage liability pays for property damages caused by a truck owned or operated by you.

• Medical payments for hospitalization, doctor treatments and similar expenses are covered for anyone who is accidentally hurt while riding in or getting in or out of your truck.

• Personal injury protection or PIP is the part of your Texas commercial truck insurance that covers medical, hospitalization, rehab, loss of income and loss of services fees that result from injury to you or any family member who lives with you in the event of an accident or injury while operating your commercial truck. If you or a resident family member die as a result, your Texas commercial truck insurance may also pay death and survivor benefits.

You may also want to look into optional Texas commercial auto insurance coverage to provide the broadest protection for yourself and your assets. These include:

• Comprehensive and collision coverage for the loss or damage to your truck. These policies typically have deductibles set by you.

• Uninsured and underinsured motorist coverage allow you to recover bodily injury damages from an accident caused by another, legally liable driver who has no insurance or insufficient insurance.

• Additional expense coverage (for rental cars, food, lodging, etc. while your truck is inoperable).

• Hired auto liability coverage provides liability for trucks hired under contract by you or loaned to you.

• Hired auto physical damage coverage is a short-term policy that covers any commercial vehicle you rent, borrow or lease to use for business.

• Employer’s non-ownership liability coverage is for private-passenger vehicles used by anyone to do business on your behalf.

• Motor truck cargo legal liability is a form of Texas commercial truck insurance that pays for any damages to cargo or loss of cargo you’re responsible for.

Article source: http://www.einsurance.com/journal/texas-commercial-truck-insurance/

Although not necessarily tangible like the “nuts and bolts” of your company, another important insurance to consider is whether your business needs business interruption insurance (also sometimes called “business income coverage”). In the event of a total loss as discussed above, you might need to replace all of the contents of your business. This could take a while. In the meantime, how do you run your business? For this reason, you may want to consider purchasing business interruption insurance, which covers your business’ net income that it would have earned and continuing normal operating expenses, including payroll. Business interruption coverage will help you keep your business operating after a loss until the damage is rectified and the necessary property is replaced. Hopefully your business will be back up and running in no time, but it is comforting to know that if it’s not, you’ll be covered.

When searching for business insurance quotes, don’t forget to insure the bricks and mortar. You’ll want to make sure that all physical property, from the building itself down to the paperclips, is insured. You’ll also want to consider purchasing business interruption insurance, so that if you ever do have to replace your business’ property, you’ll still be in business when you’re done.

Article source: http://www.einsurance.com/journal/insurance-for-businesses-nuts-bolts-policies/

No one policy insures it all. Insurance policies are meant to “dovetail” each other. So, for example, what’s covered under one type of policy is generally not covered under another type of policy, and may even be expressly excluded under other policies. Therefore, if you are shopping for business insurance quotes for your business, you’ll want to consider exactly which coverages you need. Depending on the size and nature of your business, you may need to consider all of these coverages. In this article, we discuss the “basic” business liability insurance policies – Commercial General Liability and Automobile Liability insurance policies.

In the event that your company is sued, you will want to have insurance to cover the cost of the lawsuit and any judgment or settlement. However, before any such lawsuit is filed, you will need to obtain insurance. Therefore, now is the time to consider whether your business has the insurance it needs.

Does your business need commercial general liability insurance? Commercial general liability insurance generally covers “bodily injury” and “property damage” caused by an “occurrence.” Therefore, if conduct by your company causes another bodily harm or damage to another’s property, your company will be potentially covered under its commercial general liability policy. Commercial general liability policies (“CGL policies”) also cover “personal injury” and “advertising injury,” “personal and advertising injury” or “personal injury and advertising injury.” These coverages are defined as including a specific set of listed offenses, such as wrongful eviction and copyright infringement. Therefore, if your business commits certain business-type offenses specifically listed in your CGL policy, your business may be covered for those offenses. CGL insurance is a “business basic” – most businesses need this type of insurance.

Does your business need business automobile liability insurance? Business automobile liability insurance generally covers damages because of “bodily injury” or “property damage” caused by a specified class of vehicles. For example, maybe your company only owns one vehicle that is used for deliveries – you might only need to insure that vehicle. Or, perhaps your employees own their own vehicles that they use in their employment for your business – you may need to insure “any” vehicle. “Bodily injury” and “property damage” arising out of the use of an “auto” is expressly excluded in commercial general liability policies. Therefore, if vehicles are used in your business, you will want to consider purchasing business automobile liability insurance.

When considering what insurance your business needs, a good place to start is obtaining quotes for commercial general liability and automobile liability insurance. These types of liability insurance are “the basics” and are purchased by many businesses.

Article source: http://www.einsurance.com/journal/insurance-for-businesses-the-basics/

Does your business need workers compensation and employers liability insurance? If your business has employees, you may be required to obtain workers compensation insurance. Each state has its own rules and requirements regarding workers compensation, but generally employers are required to purchase workers compensation insurance. Workers compensation and employers liability insurance covers bodily injury by accident or bodily injury by disease to an employee.

Does your business need employment practices liability insurance? If your business has employees, you’ll want to consider whether you need employment practices liability insurance (“EPL insurance”). EPL insurance provides coverage for certain employment-related practices, such as discrimination, wrongful termination, sexual harassment, etc. Therefore, if your business has employees, you should consider whether you need EPL insurance.

Does your business need employee benefits programs errors and omissions coverage? If your business has employees and your business provides employee benefits programs, any error in the administration of an employee benefits program will likely be excluded by any commercial general liability or employers liability policy. Therefore, if your company offers an employee benefits program, such as participation in a 401(k) program, you should consider whether your company needs employee benefit programs errors and omissions insurance.

If your business employs staff, you’ll want to consider protecting your business assets from claims by employees. Therefore, when purchasing insurance for your business, be sure to consider whether your business needs workers compensation and employers liability insurance, employment practices liability insurance or employee benefits programs errors and omissions insurance.

Article source: http://www.einsurance.com/journal/insurance-for-businesses-employee-policies/

As professionals, your business’ employees may be held to a very high level of care. Professionals in any given area of expertise will be expected to be knowledgeable in their area and will be held to the “standard of care” of a professional in their field. Professional liability insurance covers professionals for injury caused in the event of a breach of the professional’s duties to his or her client. Therefore, in the event that you make a mistake that damages your client, you will want to have professional liability insurance.

There are a variety of different types of professions for which businesses (including companies, partnerships and sole practitioners) may need to have professional liability insurance, for example, realtors, architects, engineers, dentists, doctors, lawyers, etc. In the event that your business operates in a field in which its employees have a special expertise, particularly one in which the employees have to be licensed in order to practice, you may want to consider whether your business needs professional liability insurance.

Article source: http://www.einsurance.com/journal/insurance-for-businesses-liability-policies/

Your Employment Practices Liability Insurance policy can help protect you from a smorgasbord of potential law suits, if you take care to get the broadest coverage available.

Here is a short-list, by no means inclusive, of some things to look for in your Employment Practices Liability Insurance coverage:

Get an EPLI policy with a broad definition of who is insured. This should include the company as an entity, along with the officers, directors and every type of employee (full-time, part-time, temp, leased, loaned and seasonal). The importance of this will become readily apparent if you’re ever sued for a sexist slur made by temporary receptionist to a job applicant, for example.

Your Employment Practices Liability Insurance policy should also have a broad definition of what constitutes a claim. You want to be covered for every eventuality including monetary damages, every conceivable kind of legal proceeding from criminal to regulatory, settlements, judgments, lost pay, your defense fees and punitive damages.

Wrongful Employment Practices is another area of your EPLI that needs to be broadly defined because if it isn’t you won’t believe the things you could end up paying for beyond the obvious sexual harassment and race discrimination. Read the fine print to be sure your Employment Practices Liability Insurance coverage includes every violation of federal, state, local and common law about employment discrimination, deprivation of career opportunities, defamation, retaliation, negligent job evaluation and failing to have an acceptable employment policy document – in short any wrongful act you or someone in your employ could potentially perpetrate on another person in your employ.

Watch out for exclusions, too. For instance, make sure your Employment Practices Liability Insurance policy does not exclude any of the aforementioned wrongful practices that may have taken place before you got the policy. That way, you don’t have to worry about being sued by that disgruntled vice president of marketing you fired three years ago for pilfering paperclips.

These are just a few of the things to look for in effective Employment Practices Insurance coverage. To be on the safe side, you might want to check with your business attorney before you sign any policy.

Article source: http://www.einsurance.com/journal/epli-coverage-you-cant-be-without/

Here’s something else to keep small business owners awake at night: somebody you never met could sue you for discrimination. Your general liability insurance for small business probably won’t provide coverage, but third-party employment practices liability insurance (aka third-party EPLI) will.

For starters, wrap your mind around the fact that we’ve become a nation of victims just waiting for somebody to offend or otherwise injure us, preferably somebody like you with money or assets. And wherever there’s an aggrieved party, there’s a lawyer ready to file a suit on his behalf. You’ll sleep a lot better knowing you have the broadest liability insurance coverage possible, including third-party EPLI.

There are two basic types of third-party claims that can be brought against you. The first is when your employee claims to have been harassed by a third party. It could be a receptionist who repeatedly complained to you that the package delivery guy makes suggestive remarks every time he drops something off. You don’t do anything about it and she sues you for tolerating a hostile work environment. Your failure to act on her complaint makes you liable. If she has a smart attorney, she’ll also sue the delivery guy’s company. If you have third-party employment practices liability insurance, you’re covered.

The other type of third-party claim is when someone in your employ (full-time, part-time, temporary, seasonal, contracted – doesn’t matter) harasses or discriminates against someone while on the clock (whether it’s at your place of business or not doesn’t matter.) For example, the attendant at a skate park you own tells a Hispanic patron she can’t come in because the park is full, then turns around and lets in three Caucasian kids. Or one of your real estate agents refuses to show a house to a person in a wheelchair because she doesn’t want tire tracks on the carpets. You’re on the hook if they decide to sue. If there’s a pattern of this type of behavior you could even be the subject of a class action suit…just because you hired insensitive slobs. A third-party EPLI policy will pay your court costs and any awards to the plaintiff (depending, of course, on how your policy is written.

But don’t rely solely on your employment practices liability insurance. As a business owner, you have to shoulder some responsibility. Doing due diligence, like conducting orientation and periodic training for employees about harassment and discrimination and having written policies in place, may even result in a lower third-party employment practices liability insurance quote.

Article source: http://www.einsurance.com/journal/third-party-epli-basics/