What Separates Personal and Commercial Car Insurance?

Why personal and commercial car insurance are different.line of semi-trucks

If your business requires the use of company vehicles, then you must secure the right commercial auto insurance to protect your business’s risk.  But why can’t businesses simply use personal auto policies to protect company vehicles?  Here’s what separates personal and commercial car insurance.

In actuality, personal and commercial auto insurance is not that different.  In fact, both types of insurance essentially offer the same types of coverage.  For instance, personal and commercial auto policies both offer coverage for collision, comprehensive, liability, and so on.  The main difference between these two forms of insurance is the amount of liability coverage each offers.  Because businesses have more assets and face a higher risk for liability lawsuits, commercial auto insurance policies have much higher liability coverage limits than personal policies.  Additionally, commercial policies are also equipped to cover a wider array of vehicles, such as delivery vans, shipping trucks, as well as standard cars.

There is also a special form of commercial auto insurance designed to cover heavy-duty vehicles.  Because heavy vehicles cause more damage in an accident than light vehicles, they need higher liability coverage limits.  So, if your business owns things like minibusses, cement mixers, semi-trucks, tow-trucks, and so on, then talk with your commercial insurance provider to make sure you have the right amount of coverage.

This is what you need to know about the difference between personal and commercial auto insurance.  Do you need help securing coverage for your company vehicles?  If so, then contact the experts at Miller Carlisle Insurance Services.  We are ready to assist you with all your business insurance needs today.

Try Out These Suggestions to Secure Your Business’s Insurance

How to choose the right coverage for your business.businessmen at work

If you run a small business, then it’s vital that you secure the right commercial coverage to keep your company safe.  However, with all the insurance options out there, it can be difficult to determine which coverages best meet your needs.  To help you secure the business insurance you need, here are some of the suggestions that you should try.

Know the Basic Forms of Coverage

While every business has its own unique insurance needs, there are certain forms of coverage that all businesses should carry.  Some of the most essential types of commercial coverage include the following:

  • General liability– Protects against customer, vendor, or other third-party injuries or property damages that your business may be held responsible for.
  • Commercial property– Protects your business’s physical structure as well as the equipment, supplies, inventory, and other property housed inside of it.
  • Business interruption– Offers financial support to keep your business afloat when your business’s normal operations cannot proceed as usual.
  • Workers compensation– Offers coverage for employees that are injured or become ill while on the job. This insurance covers an employee’s medical treatment, a portion of their lost wages, and the cost of their rehabilitation.

Secure Mandatory Forms of Insurance

It’s important to understand that certain types of business insurance are legally mandated.  For instance, every state requires businesses to carry some minimum amount of workers compensation insurance.  Additionally, certain states require companies to offer their staff disability insurance.  Finally, if you are renting or leasing a space for your business, then your landlord or lending agency might require you to carry commercial property insurance in your contract.

Learn About Specialty Coverage Options

In addition to basic and mandatory forms of business insurance, there are many other types of coverage that can be secured to address your business’s unique risk factors.  Some of the most common types of coverage include the following:

  • Product liability
  • Professional liability
  • Employment practices liability
  • Commercial auto
  • Cyber liability
  • Equipment breakdown
  • Home-based business
  • Commercial umbrella

In addition to these forms of insurance, there is a wide array of additional coverage options that you can secure for your business.  You should speak to an experienced insurance provider to learn about which coverages are right for your company.

Here are some of the things that you should do to secure the comprehensive coverage that your business needs.  Need help with your business insurance?  If so, then contact the experts at Miller Carlisle Insurance Services.  We are ready to get you covered today.

Does General Liability Insurance Cover Injured Employees?

Will your general liability coverage take care of injured staff members?employee with arm in a sling

If you run a business, then you are responsible for the wellbeing of your staff.  Most business owners look to ensure the safety of their employees by securing the right insurance protection.  Unfortunately, some business owners incorrectly assume that their existing policies, such as their general liability insurance, provide coverage for injured employees.  It’s important to understand that general liability insurance only provides coverage for customers, vendors, and other third-party injuries.  The only way to secure coverage for your staff is with the right workers compensation insurance.  Here’s what you need to know.

  • Workers Compensation Insurance

The only way to protect your employees from workplace injuries and illnesses is with the right workers compensation insurance.  This type of coverage will address an injured employee’s medical expenses, lost wages, and rehabilitation costs.  However, workers compensation doesn’t just protect your employees—it also offers safeguards for your business as well.  For instance, should an injured employee decide to waive their workers compensation benefits in favor of suing your company, then this workers comp coverage can be converted to pay for your business’s legal and settlement costs.

  • Mandatory Coverage

Almost every state in the U.S. requires businesses to offer some minimum amount of workers compensation insurance coverage.  So, not only is offering workers comp coverage a great way to show your staff that you care about them, but it also ensures that you are not leaving yourself vulnerable to costly fines and legal trouble.

Interested in securing the right workers compensation insurance to keep your staff safe?  If so, then contact the experts at Miller Carlisle Insurance Services.  We are ready to assist you with all your business’s insurance needs today.

Small Business Owners, Watch Out for These Liability Risks

Don’t let these liability threats get the best of your small business.Small Business Owners, Watch Out for These Liability Risks

As a business owner, you know that your company faces a considerable amount of risk every day. However, some of the most serious risks are those stemming from a liability issue. Here are some of the most common liability threats that you need to look out for.

Product Liability

If your business manufactures or distributes products, then it can be liable for any injuries, property damage, or other losses that the product causes. Additionally, your business can be held responsible if a customer claims that your product was falsely advertised.

Employment Practices Liability

Employment practices liability issues arise when an employee (current, former, or prospective) accuses your company of unfair hiring protocols or mistreatment in the workplace. Common employment practices liability claims include discrimination, sexual harassment, retaliation, breach of employment contract, wrongful termination, and so on.

Cyber Liability

Cyber liability issues occur when your business is the victim of a data breach that compromises the personal information of your customers. If your business is held liable for a data breach, it will be responsible for the cost of notifying customers, recovering lost data, restoring compromised identities, and repairing damaged computer systems. Additionally, you will also face the threat of litigation from affected customers.

These are three of the most common types of liability risks that small businesses face. Luckily, having the right commercial liability policies in place can help you protect against these risks and any others that your company might face. To secure the comprehensive business insurance that you need, contact the experts at Miller Carlisle Insurance Services. Our dedicated team is ready to get you covered today.

Preventing Common Causes of Workplace Fires

Watch out for these common fire hazards at your business.Preventing Common Causes of Workplace Fires

While you might have a fire detection system installed in your place of business, this isn’t enough to completely eradicate your business’s fire risks. It’s also important that you understand some of the fire risks that your company faces and what you can do to mitigate these risks. Here are some of the common causes of workplace fires and what you can do to address them.

Cooking Equipment

Surprisingly, cooking equipment is one of the most common causes of fires in commercial settings. While this makes sense for businesses involved in the food and restaurant industry, cooking equipment is also a major fire risk in other businesses as well. For instance, if you have cooking equipment in your employee breakroom (microwaves, hotplates, toaster ovens, electric tea kettles, etc.), it’s important that your employees are using these items safely and only for their specified purpose. Additionally, it’s important that these cooking appliances are turned off and completely cooled down before you leave them unattended. Finally, keeping flammable items away from hot cooking equipment will also cut down on your businesses risk for fire.

Electrical Malfunctions

Another common cause of workplace fires is the malfunction of electrical and lighting equipment. While you can’t really predict when a malfunction will occur, you can reduce your business’s fire risk by training your staff. For instance, train your staff on how to safely use work equipment to avoid malfunctions caused by improper use. Additionally, your employees should be trained to notice potential electrical issues such as frayed or damaged wiring, issues with lighting fixtures, and broken equipment. As a business owner, you should also make a point to conduct regular workplace safety inspections to catch any potential problems before they become serious.

These are two of the most common workplace fire hazards that you and your employees need to be on the lookout for.  Want another way to keep your business safe?  Make sure you have the proper business insurance protections in place.  Contact the experts at Miller Carlisle Insurance Services for assurance with your commercial coverage needs today.

Essential Commercial Coverages for Your Business

Here are some of the insurance policies your business can’t afford to overlook.Essential Commercial Coverages for Your Business

As a business owner, you know how important it is to secure the right insurance coverages for your company. However, with all the coverage options out there, it can be difficult to determine which policies are most essential. To help you get the coverage you need, here are some of the most basic types of insurance that almost every business can benefit from.

Commercial General Liability

One of the most serious risks that your business faces is the risk of a liability issue. For instance, if your business was deemed responsible for another’s injuries, property damage, or other losses, then your company would be liable for their medical treatment or repairs. Additionally, you might even face a lawsuit. Commercial general liability insurance will ensure that you have the coverage you need to address these costs and, if necessary, pay your legal fees.

Commercial Property

Another major risk that you face is the risk of property damage. For instance, your business could face damages and losses stemming from vandalism, break-in, fire, or extreme weather event. Commercial property insurance will ensure that you can pay for your business repairs. Keep in mind that this type of insurance will also extend coverage to the supplies, inventory, equipment, and other property housed within your company’s building.

Workers Compensation

Workers compensation is one of the few mandatory commercial coverages out there. In fact, almost every state has laws dictating the amount of workers comp insurance that businesses are required to carry. This type of insurance covers the medical treatment and lost wages of employees that are injured or who become ill while on the job. Additionally, this coverage can also be applied to your company’s legal fees, should the injured employee decide to sue.

These are some of the essential coverages that your business cannot afford to overlook.  Looking for assistance with your business’s coverage needs?  Then contact us at Miller Carlisle Insurance Services.  Our professionals are ready to get you covered today.

Should I Get Insurance for My Online Business?

Find out which coverages you need to protect your online shop.Should I Get Insurance for My Online Business?

If you own a brick-and-mortar shop, it’s easy to understand that you need insurance protection for your company’s building, its property, and for any liability issues that could take place on the premises. However, what kind of insurance do you need when your shop is online? If you run an online business, here are some of the essential insurance policies you cannot overlook.

Cyber Insurance

As an online business owner, one of the most serious risks your company faces is the risk of a data breach. Luckily, having the right cyber insurance in place can help you mitigate this risk. This type of insurance provides coverage for the legal fees and expenses that your company might encounter if your customers decide to sue following a data breach. Additionally, cyber insurance offers coverage for notifying customers about the data breach, restoring personal identities of affected customers, recovering compromised data, and repairing computer systems.

Professional Liability Insurance

Also known at Errors and Omissions Insurance, professional liability insurance will cover you if you make a mistake in rendering your professional services. For instance, imagine that your company makes a professional recommendation for a client. If this advice negatively affects a client, they may decide to sue your company for negligence. In this case, professional liability insurance would cover your legal defense costs and the cost of settlement if necessary.

Product Liability Insurance

Finally, if your business sells goods, then you need to invest in product liability insurance. This type of policy provides coverage in the event that one of the products that your company sells causes bodily injury, illness, property damage, or so on. This insurance also provides coverage if your company is accused of improperly marketing a product that they sell and distribute.

If you run an online business, then these are some of the commercial coverages that you cannot afford to overlook.  Need additional help finding the right policies to fit your business’s unique needs?  Then don’t hesitate to contact the experts at Miller Carlisle Insurance Services.  We are ready to assist you with all your coverage needs today.