3 Main Types of Utah Restaurant Insurance

Jell-O may be the official food of Utah, but there is a lot more involved in running a restaurant than just serving it. Besides great food, having restaurant insurance in Utah is key to being successful. Here are three of the main types and what each covers.

Commercial General Liability

One incident of food poisoning doesn’t have to cost you your business in medical bills and legal fees. General liability protects you when mishaps occur to customers. Not only does it cover damages, but it pays to protect your reputation in court.

Liquor Liability

Unless you do business in one of Utah’s nine dry cities, serving liquor is a smart business move. Because people drinking alcohol do not always act smart, however, having insurance to protect you from their actions is very important. A liquor liability policy even pays for personal injuries that occur after patrons have left your establishment.

Workers’ Compensation

Like most states, Utah state law requires restaurants to carry workers’ compensation. This coverage protects your employees in case they are injured at work. It also covers them if they are injured while driving a company vehicle.

There are other policies you might want to include, depending on your unique venue. However, the three above are must-haves for anyone in the restaurant industry.

Why You Need Maritime Insurance for Your Business

As an employer in the maritime industry, you know that protecting your employees is essential every single day. Without them, you wouldn’t be able to run your company or meet the demands of your clients. To fully protect them and your company, you need to invest in the right type of maritime insurance.

What You Need in a Policy

The right type of insurance policy for your maritime business should provide enough liability protection to keep you from ruining your operating budget in the event of an accident. It should also protect your employees whether they’re on your vessel or working on someone else’s property.

This means you’ll need to choose a dedicated maritime employer’s liability policy to fully protect your operation. If an employee gets injured on the job or damages property in the course of their duties, the liability coverage will help pay for the cost of any resulting lawsuits and settlements.

What Happens Without Coverage?

Though maritime insurance isn’t something you’re legally required to have, it’s always in your best interest. Without the coverage, you risk paying high out-of-pocket legal fees and settlement amounts. Depending on the severity of the suit, those payments could disrupt your budget or force you to close up for good.

Invest in maritime insurance as soon as you can. Once you have the policy, you’ll be able to avoid those high out-of-pocket costs.

Getting the Lowdown on EO Insurance

As a provider of professional services, your clients expect you to have adequate coverage for errors and omissions, or E&O. This type of coverage, also known as professional liability insurance helps protect a company from claims and lawsuits based on work product or deliverables. For example, an engineering firm would have E&O insurance to protect them from lawsuits based on a design flaw in a product they sold. Whether the flaw was due to wrong information, missing details or poor judgment, it resulted in damages for a client, resulting in a claim.

What Are Some Common Reasons for E&O Insurance Claims?

Lacking sufficient professional liability insurance threatens your business in the event of a claim. These are some of the most common causes of E&O claims:

  • Poor communication and documentation
  • Misrepresentation of qualifications
  • Insufficient coverage limits
  • Failure to fulfill contractual obligations

An errors and omissions lawsuit can arise from more than just a mistake in a deliverable. Even if you have an existing policy, it’s your responsible to make sure that it’s adequate for the contracts you secure and the risk associated with delivering to your clientele.

What Else Should I Consider?

Other environmental enterprise considerations clarify the need for E&O insurance. Evolving technologies, emerging markets and the use of global collaborative teams present risks to companies’ deliverables. Find an insurer that can put together insurance products that fully address your needs.

The Advantages of Grocery Store Insurance

Running a business always comes with a certain amount of risk and grocery stores are no exception. While this may be surprising, many things can potentially go wrong.  These risks can range from issues with spoiled food to slips and falls.  Luckily, you can add an extra layer of protection with insurance.  Having Grocers’ Advantage grocery store insurance can make all the difference.

What Things are Covered by Grocery Store Insurance?

Having a good insurance policy can protect you against a variety of different things. First, your grocery store is vulnerable to physical risks and property damage. A good grocery store insurance policy can protect you from many different types of property damage. Some of the things covered include:

  • Your inventory/products
  • Equipment
  • Computers
  • Fridges
  • Freezers

A good insurance policy can also provide coverage if you are the victim of a crime.  Grocery stores handle a good amount of cash and make sizable deposits nearly every day.  When sizable amounts of money are present, there is always the chance of a robbery. You also run the risk of having shoplifters take your products. Grocery store insurance can provide protection against these crimes and others committed on your property.

Owning a grocery store can be difficult. Having a good grocery store insurance policy can make a huge difference.

Do You Carry Enough Professional Liability Insurance?

Bankers, mortgage brokers, and other professionals who take on fiduciary responsibilities to people or corporate entities have unique liability exposures. In some ways, the risks they encounter professionally are similar to those encountered by doctors and lawyers, whose work also affects the course of entire lives. Like those other careers, though, financial professionals need very specific coverage that speaks to the exact nature of the sensitive information they handle and the decisions they make on behalf of others. That’s why it’s essential to be sure you are carrying enough coverage.

Evaluate Your Professional Insurance Policies

Mortgage errors and omissions insurance is designed to cover the common risks faced by professionals who act as the go-between, finding mortgage providers for buyers who need homes. Those risks include bad faith actions by employees and agents of your company, as well as the usual range of accidental omissions and oversights that could potentially cost your clients money. Similarly, other financial professionals need their own coverage packages that protect them from the specific kinds of omissions and errors commonly found in their roles within the industry. If you’re buying for a financial institution with staff in many roles that need this coverage, it’s a good idea to work with insurance providers who know how to craft specialized coverage to suit each one.

Why Fiduciary Liability Insurance Matters for Your Business

As a fiduciary, you bear the responsibility for your clients’ finances. You promise to act in their best interest at all times even if that means losing out on opportunities to increase your commissions. Unfortunately, accidents happen and, when they do, you may be liable for the damages. Fiduciary liability insurance is a simple way to protect your business and your reputation.

What This Coverage Does

Fiduciary liability coverage protects you from having to pay settlement fees, legal fees and attorney fees out of pocket if a client sues your company. This helps you better preserve your budget and makes it possible to keep your company afloat during and after the lawsuit. Without the policy, many businesses find it difficult if not impossible to recover after even a single lawsuit.

What To Look for in a Policy

Remember, your general liability insurance isn’t going to be enough to fully protect your company if you’re in charge of overseeing any type of investment or monetary contributions. Investing in a fiduciary liability insurance policy is the only way to cover your bases.

When shopping for a policy, keep the following in mind:

  • The coverage limits
  • The reputation of the insurance company
  • The premium amount

By being selective and reviewing each insurance policy in detail, you’ll be able to find the right coverage for your company.

Insurance for Independent Electricians

Insurance is important for any business, but when you work for yourself it’s literally your best protection against misfortune, injury, or professional loss. You need coverage that takes care of your tools, your health, and your liability in the event of errors that result in losses to your customers or others. No one likes to think about it, but everyone makes mistakes sometimes, and that’s what insurance is there for. Sometimes, it’s not even something you can control, it’s just a result of circumstances on that job, so you need a provider who settles claims quickly to keep customers content with your service.

More Than Just Professional Liability

While protecting your customers is important, you also need equipment and vehicle coverage for your operation. What kind? It depends on whether you own your vehicle and the business uses it or vice versa. This is just one of the issues that have to be configured for comprehensive self employed electrician insurance that works for you. Don’t forget coverage for yourself in the event of lost business if you get injured. Your health insurance can take care of your medical bills, but you need additional coverage if you want to make sure you have the funds to get back on your feet and reopen your business after an injury.

Types of Sanitation Company Insurance

Sanitation is an essential part of today’s society. Whether it’s permanent or portable sanitation, making sure the companies who provide these necessary services are protected is beneficial both for the companies and the community. Knowing what kind of sanitation company insurance is available can get your company on the right path to ensuring the safety of yourself, employees, and residents.

General Liability

The most common form of insurance is general liability. This protects companies from claims or lawsuits over accidents you might be liable for. If someone gets injured on your property or using one of your services, you are protected under this insurance.

Property Insurance

This insurance prevents you from paying for any damage that occurs on your property out of pocket. Any weather-related damage can be covered under this type. In some cases, vandalism and theft are also covered under this policy, though you can take out coverage for those specifically. This is a good idea if you have a lot of expensive equipment stored on site.

Workers Compensation Insurance

Workers’ compensation insurance may be legally required in your state. If not, it is still a good idea to get it. In the event of an injury on the job, an employee can get their expenses covered without suing you.

Covering all your bases with the right insurance policies is vital in today’s business. Not having coverage risks financial downfall in the future.

Building an Employee Benefits Package for Your Company

Offering your employees an excellent benefits package will help you recruit and retain an outstanding workforce. Many employees value benefits almost as much as salary, so it’s important to choose benefits that are desirable yet affordable.

Health Insurance

Employers with a large number of employees are generally required to offer health insurance, so it’s one of the most essential employee benefits to budget for when you’re building a benefits package. Typically, an employer will pay a percentage of an employee’s coverage costs in a group plan.

Disability Insurance

In the event that an employee is unable to work due to an illness or injury, disability benefits can compensate them for the time that they need to recover. Short-term disability will address absences that aren’t significant in duration and long-term disability can cover absences that are greater than six months.

Life Insurance

Many employers can affordably provide life insurance policies to their workforce. Policies can be for a set amount or they can be equivalent to an employee’s annual salary. The policies will remain in effect for the duration of someone’s employment.

In order to build an attractive benefits package that will fit into your operating budget, you should work with an insurance provider who is experienced in serving businesses in your area. 

Commercial Dump Truck Insurance

Commercial trucks provide a variety of essential services throughout the country. They transport everything from dry goods to fuel to motor vehicles. One type that delivers more on a local level but is still critical to infrastructure is a dump truck. The standard version has the dump bed mounted on the same body as the cab, but there are also dump trailer versions that can be hauled with a separate truck-tractor. These are all considered a heavy-duty commercial vehicle and require specialized insurance.

Typical Dump Truck Policies

Dump truck coverage is a particular line of insurance geared towards these unique vehicles. General liability insurance is typically required in order to operate one of these trucks. This protects you in the event an accident causes bodily injury or damage to the property of others. This would be the bare minimum of coverage and would not cover you or your truck. This is why you should consider these additional options as well:

  • Physical damage – can be collision, comprehensive or both. These will cover the cost of damage or loss to your truck due to various circumstances.
  • Medical payments insurance – covers the cost of your medical bills if you are injured because of an accident.

If you drive or operate a dump truck then it is important to understand your insurance requirements and options. A knowledgeable agent will help cater a policy to your situation.