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Three signs that you’re not carrying enough commercial transportation insurance

Carrying adequate commercial transportation insurance is essential to those who run a business that depends on commercial vehicles to provide transportation services. You must carefully consider coverage amounts and know how to look for signs that you need more commercial transportation coverage. 

The following are three signs that you’re not carrying enough commercial transportation insurance. 

You’re stressed out about your commercial transportation insurance coverage. 

You can always raise maximum coverage for your commercial transportation insurance policy if you’re worried about having enough coverage. It may give you peace of mind to increase your insurance coverage so that you know that you’re not putting your company at risk financially due to inadequate maximum coverage limits. 

You don’t have enough collision and comprehensive coverage to cover the full value of your fleet.

One of the most significant amounts to consider when calculating your commercial transportation insurance coverage needs is the value of your fleet.

Consider whether you have enough coverage to cover the total value of your fleet. If your coverage maximizes the value of your fleet, you should have enough collision and comprehensive coverage on your policy. 

You’re not carrying enough commercial transportation insurance to cover the full value of your cargo.

If your commercial transportation company is in the business of transporting cargo, make sure your policy can cover the value of your cargo. The clients you transport cargo for will hold you liable if their cargo is destroyed en route while you have that cargo. You must protect yourself with adequate insurance coverage to cover cargo value. 

We provide commercial transportation insurance coverage in Jacksonville, FL at 925 Partners. Contact us via email or phone if you have questions about your coverage needs. 

How to check if your home or business is on a flood zone

Flooding is a serious problem for home and business owners in Jacksonville, FL. The available flood insurance comes with a 30-day waiting period which might not be helpful if flooding occurs during the waiting period. One of the most common challenges among many homeowners is checking whether their property is in a flood zone. If this is your problem, you’re at the right place. This article will outline various ways you can use to check whether your property is in a flood zone or not.

Check the FEMA flood maps

The Federal Emergency Management Agency (FEMA) has a tool that makes it easier to check whether your home is in a flood zone or not. The flood map shows critical information like floodways, zones and risk levels. The map labels specific areas around your property as areas of minimal flood hazard or annual chance of flood hazard.

Ask your flood insurance provider

Your flood insurance provider already knows your flood risk level. At 925 Partners we require your flood risk information when you buy flood insurance for the first time. In most cases, this information helps to determine your insurance rates.

Track changes in topography

With the growing economy, construction and changes in flood plains and topography, flood zone designations can change over time. If your home was marked as a low-risk flood area five years ago, the changes in your neighborhood could change for the worse.  Check different projects in your area and assess how they affect flood risk levels.

Hire a professional

Reading maps is not enough to determine your flood risk, as they change regularly. Consider hiring a property expert to check the property using the right tools and expertise. It’s even more critical if you suspect you’re buying a property in a high-risk flood area. A licensed surveyor can advise you accordingly or get the home elevated above the flood level.

Need more information about flood insurance or flood risk levels in Jacksonville, FL? Contact 925 Partners for all your flood insurance needs, and we will be happy to help you.

Commercial Transportation Insurance FAQs

Are you in the trucking business? While you are doing everything to navigate this line of business, you need commercial transportation insurance to cushion your business against numerous risks in this industry. Want to learn more about transportation insurance? Don’t worry, because 925 Partners of Jacksonville, FL got you covered when it comes to commercial insurance needs.

What is transportation insurance?

As mentioned, this insurance coverage covers small businesses and owner-operators in the trucking business. You don’t need to have a fleet of trucks to invest in transportation insurance. Even if you have one or two trucks, transportation insurance is pivotal for your business.

Generally, you need transportation insurance if you are:

  • An independent own-operator or truck driver
  • Commercial transport/logistics business
  • You operate in any business that has trucks, drivers, and transportation

From a single truck to a fleet of trucks, commercial transportation insurance is not only legally required but cushions your business against multiple risks.

What does transportation insurance cover?

Here are the areas covered by transportation insurance:

  • Physical damage: Like standard auto insurance, transportation insurance has collision and comprehensive coverages to protect your trucks against risks like accidents, fire, theft, and other hazards listed in your policy.
  • Liability coverage: Since trucks are heavy, the liability claims can be pretty significant if you are at fault for an accident. The liability insurance covers you when accused of property damage and bodily injury. It also covers you when sued.
  • Non-trucking coverage: Transportation coverage covers you when your trailer isn’t transporting goods. For instance, bobtail insurance covers the truck after goods have been delivered or when using the truck for personal reasons.

There are plenty of other areas covered by transportation insurance. To learn more about this coverage, please contact 925 Partners. Else, you can pass by our Jacksonville, FL offices to chat with one of our agents.

Why Business Owners Need Commercial Insurance

Are you a business owner in the Jacksonville, FL area? If so, it’s important that you consider getting business insurance. What is business or commercial insurance? This is important insurance that protects you from liability and financial loss in the event of a lawsuit. 

Not My Fault

Sometimes lawsuits arise out of something that is no fault of your own. Even if you do everything right, there is a possibility of injury or damage to others or their property when you create a product or perform a service for them. How do you protect yourself?

What Commercial Insurance Covers

Good commercial insurance in Jacksonville, FL should cover the following (to comply with insurance laws):

  • Property damage: covers damage to others’ property as a result of your products or services
  • Commercial Auto: covers accidents resulting in damage to your company vehicles or accidents involving others’ property
  • Workers’ compensation (required in Florida): covers workers’ compensation claims that result from company actions or conditions or that occur at work

Why You Need It

If you have a business that works with others’ property such as vehicles, recreational equipment, real estate, or other properties, it can be quite costly if you damage someone’s property.

Commercial auto coverage will cover you in the event of an accident that damages your company vehicle or other vehicles that you are using under your business name.

Workers’ compensation is required coverage in Florida, so you should always carry this.

About Liability Insurance

Liability insurance for your business is just as important as an auto liability. This type of insurance pays for damages, injury, and loss of another person who proves that your company’s actions caused their loss or injury. This is necessary insurance to protect your assets.

Start Here

One company you should check out to learn more about this type of insurance is 925 Partners in Jacksonville. They have all of the types of commercial insurance that you need to protect your company from the unexpected.

When you worry about what the future might bring and need to protect your business from liability contact 925 Partners and rest easier. 

7 Terms You Should Know for Commercial Insurance

Whether you own a small business or a larger company, you’ll need to have some level of commercial insurance. It can be a good idea to know some of the basics before you shop around for your insurance provider and the specific policies you want or need. The team at 925 Partners of Jacksonville, FL, and the surrounding area can provide you with many of these answers, though there are some terms you should know in advance.

Business Owners Policy (BOP)

This is a package policy with liability and property insurance combined so that small business can spend less when they have to get multiple policies.

Business Interruption Insurance

This is put in place if your business needs to shut down, and it’s because of a covered loss reason. The coverage typically will reimburse for the expenses you’d have if your business had continued operations.

Commercial Auto Insurance

Commercial auto insurance provides coverage to your employees and company’s vehicles if there’s been injuries and/or damage. It does not matter if these automobiles are owned, rented, or leased. The policy also covers any passengers at the time.

Employer’s Liability Insurance

This protects an employer if their employee files a lawsuit after being injured in the workplace or while conducting work duties. Workers’ compensation benefits don’t allow much room for the employee to sue after such an injury.

General Liability

This is a broader version of the employer’s liability. The company can be held liable for injuries or damages to another party while on the premises (as well as those that occur from company property or employees during their assigned work duties off the premises).

Loss Control

A means for a company to help minimize how much loss they experience.

Named Peril

A hazard or event that is listed and covered by your policy – in many instances, a certain type of policy will only cover those that are clearly outlined in your insurance policy document.

It’s much easier to sign up for commercial insurance with the help of experts. Talk to someone at 925 Partners of the Jacksonville, FL area, and you won’t be disappointed.

Is Commercial Insurance Required in Florida?

There is no one-size-fits-all commercial insurance policy for your business in Jacksonville, FL. Still, some parts of commercial insurance will be required if you want to operate a business in the state of Florida. There are two types of commercial insurance required in the state, but an agent at 925 Partners can help you determine which coverage is best for your business, even if it isn’t required. 

If you want to operate a business in Florida and have four or more employees, whether part-time or full time, then you will need to have workers compensation insurance. If you run a business in the construction industry, then you must have this type of commercial insurance, even if you have only one employee. Workers’ compensation covers medical bills for any work-related illnesses or injuries. If you have business-owned vehicles in the state, then you will also need to have a commercial auto insurance policy. The policy should have $10,000 for liability for bodily injury and $10,000 for property damage liability. Just like personal auto insurance, it covers property damage and injuries after accidents. Keep in mind that a personal auto policy will generally exclude you if you are using your car for commercial purposes.

Even if it is not required, it’s still best for businesses to have some added liability protection. General liability can be needed to cover common risks, such as customer injuries and property damage. Professional liability insurance can be used to protect you if your work depends on the expertise and includes things such as client lawsuits. Depending on the size of your business, you may be able to get a business owner’s policy to help you bundle general liability insurance and property insurance and protect your company against a variety of different business risks.

Contact 925 Partners in Jacksonville, FL to get a quote on commercial insurance.

3 Commercial Insurance Tips for Jacksonville Area Business Owners

Commercial insurance can make the difference between overcoming a catastrophe and having to close one’s business. 925 Partners is here to help guide business owners in the greater Jacksonville, FL area during the commercial insurance selection process. These three tips can help you find a policy that provides the appropriate coverage and the right level to help keep your business protected.

3 Tips for Choosing a Commercial Insurance Policy

  • Calculate your inventory when it is at its highest level — Inventory can be a significant asset that can be difficult to value as it fluctuates throughout the year. Make sure that your protection level is equal to the highest level of value.
  • Your commercial fleet or other vehicles that are used for business purposes — If your business relies on your fleet to get the job done, it can be devastating to have those vehicles off the road. Make sure that you have coverage that will protect you during those downtimes. The same holds true if your employees are using their own vehicles for business. Make sure that your policy provides all of the coverage you need. 
  • Make sure that your liability protection is adequate — Slip and fall accidents and other liability situations can cause some severe headaches for business owners. If you are in an industry that experiences a high level of liability risk, be sure that your commercial policy provides adequate coverage. Working with a local agent to determine the right coverage can make all the difference.

Ready to learn more about how the right commercial insurance policy can help keep your Jacksonville, FL area business protected? Contact the team at 925 Partners today and let us help you with all of your insurance needs.

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