Tips for Insuring Your Cargo

Moving cargo from one place to another always comes with a risk. Cargo could get damaged, lost or stolen, and sometimes whole shipments don’t make it to their final destination. The good news is that cargo insurance can reduce the financial risk involved with transporting goods.

In order to ensure smooth movement of cargo, consider choosing a U.S. based insurance company to get the best support. If you ship internationally, you might already be aware that sometimes business partners use an insurance company in their own country. It is recommended that you insure your cargo anyway as it can be troublesome having to deal with an insurer located in a different country. Always handle your own responsibility and don’t rely on someone else. Furthermore, make sure you document every shipment and its value in case there’s a dispute with a claim in the future. Be sure to check with your insurance company what modes of transportation and factors are covered. While most policies cover the standard risks, some don’t cover loss resulting from war or piracy. If in doubt and for the sake of peace of mind, consider an “all risk” policy. A company specializing in insurance solutions for unique risks can help you get the coverage you need.

The consequences of not having cargo insurance could be devastating for your company. Having an adequate insurance policy ensures that your business can keep moving.

Using Insurance to Protect Your Corporation

No matter what kind of a corporation you run, it is likely comprised of departments, employees, and possibly shareholders. Although the corporation may have rules and regulations the employees are expected to follow, the corporation is ultimately responsible for any action made by its employees. So no matter what kind of business you run or product you sell, having a corporate insurance broker to help ensure you are covered is essential to protecting your business.

Professional Liability

Professional liability insurance protects a company against lawsuits resulting from errors or misinformation that may have been shared during consulting or other professional services. Whether you own a construction company, a dentist’s office or a law firm, professional liability insurance can protect you and your business.

Product Liability

Product liability protects a business against flaws in the products they sell that may be potentially harmful to those who use them. For example, if a car seat is found to be unsafe after it is released to the public, this insurance can help take care of the recall as well as any possible injuries that may have occurred. This insurance is essential for any company selling products to consumers.

No matter what type of business you run, if you are selling services or merchandise to the public, corporate insurance is a must. A corporate insurance broker can help you choose the right insurance to protect you and your business.

Essential Coverage of a Business Owner’s Insurance Policy

Whether you own a large corporation or a small business, it is important that you have a business owner policy to cover any losses or legal liabilities that your company should be subject to. When shopping for policies for your business, make sure that the one you purchase includes the following types of coverage:

Property Coverage

As a business owner, you have a lot of money invested into your property. Property can include your building, equipment, documents and any personal property on the premises. Whether your business is vandalized or your cyber information is attacked, an adequate business owner policy can ensure that you are properly compensated for your losses and damages.

Liability Coverage

Despite preventative measures you might take, your business is susceptible to lawsuits. From workers compensation claims to product liability claims, you are at risk for lawsuits that stem from disgruntled employees and customers. Liability coverage can protect you from financial ruin the face of a legal dispute.

Business Interruption Coverage

Your business operations may become interrupted for any number of reasons that are out of your control. Mother nature may decide to throw a freak storm your way that damages the roof of your building, or a cyber attack may render your business inoperable for an extended period of time. Business interruption coverage can cover any losses accrued as a result.

If you own and operate a business, a business owner policy can protect you from loss and liability. When shopping for plans, make sure that the plan you choose has the above coverage for ultimate protection.

5 Things Affecting Your Commercial Insurance Premium

No matter the type of business you own, it’s important to have the right commercial property insurance coverage in Orlando. Your business is more than the property and employees making it up; it’s also your source of income. You need to protect all aspects of your company from harm, and a commercial insurance agent has the knowledge and experience to help you decide upon the best protection for your business.

Questions That Affects Your Premium

Whether you’re looking for a Business Owners Policy, a Commercial Package Policy or just the standard Commercial Property and General Liability coverages, the following things affect the final cost of your premium for commercial property insurance coverage in Orlando.

  • How close is your business to the shore?
  • Do you have a large or small business space?
  • Does your business exist in a high-risk area or conduct hazardous activities?
  • How old is the building within which your business resides?
  • What type of equipment does your business use?

Make Sure You Have the Right Coverage

Orlando’s geographical location means hurricane damage is a danger your business has to contend with beyond the regular threats of theft, fire and liability. It’s important to have your commercial property insurance coverage in Orlando reviewed on a regular basis by a trusted commercial insurance representative. You work hard to make your business a success, and you should take the time to ensure your insurance coverage is adequate to your needs.

Is Cargo Insurance Worth the Cost?

We totally get it: Running a business is not cheap and the budget can quickly become overrun with expenditures. Materials, equipment, facilities and staff are all necessary line items you need to produce and turn a profit. But what about cargo insurance programs? Can you get by without them or are they just as critical to your company’s success?

Lack of Insurance Can Sink Your Ship

It is best to answer this question with an example of a legal principle used when transports are performed by ocean carriers. If the vessel is damaged at sea or the call is made to jettison your goods in order to save the ship, you are partly responsible for sharing and covering the losses. Carriers are not obligated to cover losses that happen for reasons beyond their control.

You could lose hundreds of thousands of dollars in goods if you do not carry insurance. This amount of money far outweighs the price of a premium for any policy. The cost of cargo insurance programs varies from roughly $0.15 to $0.35 per $100 value of the shipment and most policies cover your goods throughout the entire supply chain.

Without insurance, you could end up financially shipwrecked. However, for a modest fee, you can focus on continuing to do business and stop worrying about the state of your goods as they make their way toward their destination.

What Liquor Liability Can Do For You

If you own a nightclub and sell or serve alcohol, choosing to get liquor liability for nightclubs can be one of the best decisions you will ever make. Alcohol can cause a lot of problems and instances because when people drink, it can reduce their ability to think clearly and cause them to do things they would not have otherwise done. This can lead to damages and injuries in your nightclub and you will be left to clean up the mess. Liability claims can quickly grow out of hand and without insurance to cover all the fees, you may be forced to shut down your nightclub to pay them off.

If you want to avoid the potentially substantial legal fees that result from a liability claim, it is vital to get liquor liability for nightclubs as soon as possible. Despite public awareness going up for drinking, the number of alcohol related claims have remained fairly stagnant over the years and many nightclubs have suffered significant financial loss as a result of liquor claims. Having the right coverage means choosing the right insurance company who can provide guidance and advice when an incidence does occur. They can also help you eliminate invalid or frivolous claims that can lead you into financial distress.

The Benefits of Warehouse Insurance

Warehouses experience a great deal of movement on a daily basis: they receive, sort, order, cross-ship, package, and deliver goods. The goal is to do all these tasks quickly, efficiently, and, perhaps most importantly, safely. When you run a warehouse, you want to make certain that all your customers’ goods are handled with care and make it to their destinations without incident. You cannot always be guaranteed impeccable handling, unfortunately, as mistakes do sometimes happen. In the cases where mistakes are made, you want someone to back you up to help recuperate the losses obtained as a result of the accident. Look for a company that offers warehouse legal liability insurance in Orlando when finding a plan for your warehouse.

Warehouse legal liability insurance is vital for your business because it takes into account everything that happens in a warehouse and it recognizes how a warehouse operates differently than just ordinary desk-job offices. This insurance plan helps cover the business in the case of damage or loss of a customer’s property while in the business’s facilities. If you want the insurance company to be local, find one that helps protect your company with warehouse legal liability insurance in Orlando. Protect yourself from any potential losses by covering your bases and getting an insurance plan that will make sure your business keeps running strong.

3 Reasons Why Insuring Your Cargo Brings Peace of Mind

Depending on your business, your livelihood may be entirely dependent on the cargo you ship all over the world. That’s why it’s so important to invest in a cargo insurance package that helps you bear the burdens of unexpected consequences that may arise.

Insured cargo helps you feel more at ease because it’s possible to customize your coverage based on changing needs. That might be necessary if whatever’s being hauled is oversized or extremely valuable.

It’s also important to remember that deciding to insure your precious cargo could indirectly bolster your company’s reputation. Your customers likely expect certain levels of quality for the products you sell, but items may potentially get damaged in transit due to issues like rough handling and environmental conditions. Insurance reduces the monetary risk you’d face if customers received goods that were harmed in transit.

Finally, certain types of insurance for cargo allows for continuous coverage from the time items leave your premises to the moment when they arrive at their destinations. That means that if anything goes wrong, you’ll know you’re not liable for the financial and time-related costs that result.

These are only some of the many reasons to make the smart decision to buy cargo insurance. It could positively change the way you do business at home and abroad.

Do Manufacturing Businesses Need Insurance in Florida?

If your business is searching for manufacturer insurance in Orlando, how do you know what kind of insurance your business needs? Most manufacturing companies face unique risks in development and shipment of their products. Some types of insurance are required in Florida. Any business with over four employees who are not owners or proprietors should have workers compensation insurance. Florida also requires business vehicles with four or more wheels to have commercial auto insurance. If your company transports products from state to state, there are special insurance requirements that vary depending on the type of shipment.

Though other types of insurance are not required, most manufacturing businesses face many risks that have the potential to cause accidents or injuries that might harm your company’s reputation. General liability insurance can protect your business by covering injuries and property damage. Product liability insurance is particularly important to manufacturing businesses in case of damage or loss to stock. Equipment breakdown insurance can cover the cost to repair or replace equipment that stops working due to mechanical or electrical breakdown. Business interruption insurance covers your business during an outage or disaster. There are many other types of insurance for a variety of risks that your manufacturing business might face. A qualified insurance professional can help you find the manufacturer insurance in Orlando that you need.

Errors and Omissions Insurance for Manufacturers in Florida

Errors and omissions insurance can be essential for a manufacturing business in Florida. If your business needs Orlando manufacturer insurance, you should consider errors and omissions insurance an important part of your insurance policy. Errors and omissions insurance will cover any financial damages from litigation if there is any error or negligence in the design or manufacture of your products or parts. There are several types of negligence that might require errors and omissions coverage. This negligence could be a design flaw, material or component failure, a manufacturing error, an error in installation of the product, or even a failure to deliver the product as promised. These errors could cause your products to break and the failure of other equipment.

Errors and omissions insurance is different from liability insurance because an injury or accident happened because of your company made the product. The error in design or manufacturing makes your company becomes liable for the financial damages. General liability insurance usually only covers bodily injury and property damage and does not cover other types of losses. Errors and omissions insurance can cover the financial damages of your customer as well as your legal costs. An insurance professional can develop a policy for Orlando manufacturer insurance that has the right level of errors and omissions insurance for your business.