What sort of insurance do you involve for a business?
I am not sure of the type of insurance coverage my father inlaw needs. He started a courier/delivery (bulk messages & small packages) service & some places tell him he requirements to be bonded to make delivery. Fine. I called a bond company & they said they dont cover such things & that he requires business insurance.
Will that cover what is needed? That merely doesnt sound right to me. I thought he would entail to be bonded because he may be carrying things of value, similar to contracts, mail, dosh, documents etc.
What does he need & who provides it?
Answers:
Fire Insurannce
Float Insurance
Workers Insurances (Job/Employees)
Business Insurance
Employeer(Boss) Insurance, etc...you could be in motion to any of the Insurances company to apply for those policies.
He needs business insurance, liability insurance and the bonding is factor of the business insurance with most companies. Talk to your local agent, someone you can trust. Ususally you would write a policy covering your building and supplies, liability and any vehicle you might be delivering your packages surrounded by.
He's going to inevitability at least three types of coverage. 1. General liability, for the operation and office premises 2. Commercial auto, near PUC filings as he's transporting for others for a fee, and 3. Inland seafaring or motor truck cargo policy, possibly wiht a PUC file, as he's got the property of other's within his care, custody & control.
Bonds don't anticipate what people roughly think they be going to.
A competant, independent insurance agent should be able to chain him up with the correct coverage. But preserve in mind, it's not cheap, especially if he go over state lines. Expect to pay roughly $5,000 per year, if there is ONE labour vehicle.
Each state is different but contained by my state I'd suggest that he get a business liability policy and a standard liability bond. Bonds of this type are not required but they make potential clients perceive secure. Also, he sould check near his auto insurance agent as many personal auto policies don't cover vehicle being used for labour and he may need a commercial auto policy.
Call a broker. He'll need General Liability, a bailee form since he'll be within the care custody and control of others property, Commercial Auto and worker's comp and disability if he have one or more employee.