WHY DOES AN INDEPENDENT ROUTE OWNER NEED INLAND MARINE COVERAGE

A general insurance policy covers the protection of the assets present at the location of your business. But if your business requires the movement of goods and equipment from one place to another, you might need an inland marine coverage. An inland marine insurance policy refers to a policy which helps protect items which are in transit. This policy covers items ranging from high-end digital cameras which are used in the photography business, snacks, meats, bread and other products for delivery, or the bulldozers used in the construction business. An independent route owner has a lot to benefit from an inland marine insurance policy. 

One great way to start a low upfront expenses business is to offer mobile services such as independent delivery route. The provision of mobile services is also an amazing way to grow an existing business even though it co9mes with its own unique risks. Independent delivery routes are great business opportunities that come with a lot of flexibility and profitability.  However, they are exposed to risks such as the damage of goods in accidents or the goods getting destroyed while in transit. The goods might also get stolen while in transit. A commercial property policy, as well as a commercial auto policy, might not provide adequate coverage for such incidence and thus an inland marine insurance coverage which offers protection for equipment and goods in transit becomes inevitable for independent route owners.

Also, commercial insurance policies often exclude items which are not on the premises of the company’s address. Also, a commercial auto insurance policy might exclude coverage for food and other products which are being transported in the insured delivery vehicles. Even when the policy covers the products being conveyed in the delivery vehicles, the limit of the policy might be less than the value of the products being conveyed. Inland marine insurance policy fills the gap created by the commercial insurance and commercial auto insurance. It ensures that independent route owners enjoy full and comprehensive coverages. You can always contact IDA to select the best policy that offers robust coverage for your independent delivery routes.

Comments

Post a Comment

Popular posts from this blog

Safety and Health Tips for Snack Truck Driver

Image
If you are a Snack truck driver and always busy driving here and there to promote your business, without a proper resting mechanism, this could result in the deterioration of your health. For efficient and safe driving, you could do the following. Take regular breaks If you are driving too much and not taking breaks in between this could be highly detrimental to your health. This routine could affect your back and lead to backaches. It becomes very difficult to drive with backaches and to function properly. It is suggested that after one hours drive, you should park your vehicle somewhere and get out of the vehicle and stretch yourself for 10 to 15 minutes. You could also go for a little walk which will make you feel better. Use an armrest As you are always driving your arms could get tired. You could find the right posture and an armrest to put your arm there whilst changing gears. Such supports could be highly beneficial for drivers who drive very for very long. Neck support p...
Read more

Professional Liability vs. General Insurance Liability

Image
As a business owner, having coverage against liability is not a luxury. Both General Liability Insurance and Professional Liability Insurance can offer the needed coverage for your business and employees, but the two policies are quite different. General Liability Insurance is a type of insurance policy that protects a business from damages that resulted from someone getting injured on the premises of the business. It covers the cost of property damage, bodily injury, medical expenses, defense, libel, slander, judgments and settlements which resulted from someone getting injured in the business facility. Professional Liability Insurance protects businesses in the event that they are sued due to malpractice, error or negligence in the services rendered to a customer. It covers the costs of settlement, defense, and judgment. Typically, this coverage applies to professions where a professional code of conducts exists or where there are standards which are used in measuring and ev...
Read more