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.
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.
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.
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.
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.
Big rig owners carry heavy loads over dangerous roads in all types of weather throughout the year. Along with hours on the road hauling the freight can come risks to yourself and your loads. As a driver or truck owner, you can easily protect yourself from problems with the cargo by purchasing insurance for semi-trucks. Here are a few of the many reasons to obtain the coverage.
When you store freight in a storage unit or warehouse, you need to protect the goods and yourself with liability insurance. Your policy can be tailored to meet your needs with specific
All you need to do is specify the amount of liability you agree to assume.
The cost of insurance is much less expensive than losing a load of electronics or heavy equipment. With the number of accidents that occur each year involving big rigs, it is essential to protect yourself with truck cargo and freight insurance.
How you operate, the loads you carry, and the time you spend on the road are all part of the risk exposure you operate under each day. Communicate any concerns about exclusions or coverage to your insurance broker to create a policy that fits your needs.
To provide adequate insurance for semi-trucks you drive or own, protect yourself with a cargo policy and liability insurance policy. Make the phone call today to better understand what coverage is available.
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.
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.
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.
Purchasing an insurance policy may bring you peace of mind, but your liability policy may leave expensive gaps or exclusions. There are coverage limits as well, and resolving an incident could exceed what your insurance policy provides. When this happens, an excess liability or umbrella policy could help make up the difference.
Knowing the Difference
Though the terms are sometimes used interchangeably, there are noted differences between excess insurance vs umbrella coverage. With umbrella policies, the insured is given higher liability limits as well as a broad scope of coverage for the policy itself. Umbrella coverage can usually fill in gaps like coverage territory, such as moving from a national scope to a worldwide application. With an excess liability policy, the insured is provided additional coverage beyond the financial limits established by the underlying policy. However, because the financial limits are extended, the policy may be more restrictive when written.
Either policy you choose, you need to carefully read through to find out inclusions and exclusions. The policies themselves don’t follow a standard format, making it easier for you to overlook a crucial detail or simply assume a situation is covered.
The distinction between the two policies can become blurred, especially when agents are talking to you about the benefits of carrying additional coverage. With this information, you should have a better understanding of what policy will best cover your liabilities.
With the arrival of the summer boating season, rental companies are preparing for the influx of tourists clamoring to get out on the water. Taking on the business of renting watercraft comes with inherent risks. Weather hazards, craft issues, operator errors and other boaters all have the potential to pose a significant legal and financial burden.
When the craft you offer for rent includes personal watercraft, you require protection designed specifically for these types of boats. Standard boat insurance does not cover sea-doos, jet skis, or wave runners.
Procuring the Right Coverage
Your insurance for your rental craft should cover your business and your customers in case of accidents and injuries. A good insurance policy offers coverage for:
- Hull damage – Repairs and replacements for damaged boats can be costly. If your personal watercraft property is damaged, you need to be sure that your policy protects your investment.
- Watercraft damages – As the owner of a personal watercraft rental company, you are entrusting your property to the care of someone else while they operate your boats. A good insurance policy offers protection in the event a renter is injured, or another person’s property is damaged, while the machine is in use.
- Liability – A good liability plan is necessary to protect your company against accidents and injuries occurring on the premises.
Insuring jet skis, see-doos and wave runners is a special consideration when you operate a personal watercraft rental company. To stay afloat, make sure your business and your customers are protected as the summer season gets underway.