Before buying a Commercial Auto Insurance Policy, you should first check if your Personal Auto Policy could cover your risk, especially if the business is own by one person. You might be able to endorse your personal auto as a business used and pay a small difference in premium but not every company in Florida allow this type of endorsement, check with your agent.

Some other factors besides drivers Motor Vehicle Record (MVR) that determine the premium charge on a commercial auto policy are: “vehicle use” for example, mechanics, electrician, carpenters classified as “service use”; deliveries to businesses classified as “commercial use” and deliveries to residential (homes) classified as “retail use”; another factor is ” radius of operation” or distance vehicle is driven: 50 miles radius is considered “local”; 51 to 200 miles considered “intermediate”; and interstate and out of State. Another factor is “gross vehicle weight” (GVW): 0-10,000 “light truck”; 10,001-20,000 “medium truck”; 20,001-44,000 “heavy truck” and “utility trailer”. It is extremely important to be specific about these factor when providing information to your agent because a claim could be denied for misinformation.

In Florida, most Insurance Companies use symbols to show which vehicles are covered in your commercial auto policy and which could be different for Liability and Physical Damagae. Learn more about Your Covered Auto Designation Symbols.
Some insurers required that all possible drivers be listed in the business auto policy and new hires be reported within certain time, make sure to comply with these requirements to avoid a surprise when you have a loss.

COMMERCIAL AUTO COVERAGE FORM

Section I – Covered Autos.- In this section you are going to see Description of Covered Auto designation symbols, including symbols descriptions. Own autos you acquire after policy begins, depending on the symbol you must report to your insurer within certain time, otherwise it will not be covered.

Section II – Liability Coverage – In this section you can read up on your coverage description, including payments when an insured is liable; whose duty it is to defend and who is an insured, what are exclusions, and limit of insurance.

Section III – Physical Damage Coverage – Your Auto coverage, limits, exclusions, and deductibles which may apply to collision damage only.

Section IV – Business Auto Conditions – Loss conditions, including appraisal for physical damage loss. Duties in the event of an accident, claim, suit or loss; when and how accident happen. Some other general conditions are: concealment, misrepresentation or fraud; policy period; coverage territory, etc.

Section V Definitions.- Such as “Accident”, “Auto”, “Bodily Injury”. “Insured”, “property Damage”, etc.

In case of a loss you should report as soon as practical possible to your agent or insurance company. Learn more about your Business Auto Coverage Form.

Commercial Property Insurance to protect your business. Let us insure your commercial property: apartment complex, warehouses, hotels, motels, retail stores and buildings all kind.

COMMERCIAL PROPERTY INSURANCE.- In the State of Florida one of the most important factor is where your property is located, in a Wind Pool area or not; the majority of the insurance companies are not accepting new business located in the wind pool, either in the east and west coast of Florida but, we can insured your commercial property anywhere in the State. One way to save is insuring more than one type of risk in one policy like: property, general liability and loss of income.
Commercial Property could be insured under one of these Forms: DP1, DP2 or DP3, make sure to understand under which form you are insured.

Flood Insurance Coverage or damage is excluded from all DP Forms, you must buy a separate policy to cover a flood loss.

DP1 FORM.- Is the most limited and basic form of commercial property insurance; cover name perils only: Fire or Lightning, Hurricane, Windstorm or Hail, Aircraft, explosion, Riot or Civil Commotion, Vehicles, Smoke, Volcanic Eruption, Vandalism or Malicious mischief (maybe available by endorsement), Sinkhole (some companies required an inspection for Sinkhole coverage), this is a very limited policy, because everything else is excluded. In Florida most insurers only insured under this form and they might or might not offer general liability also. This form is commonly used for vacant or unoccupied properties.
Claims are settle on an Actual Cash Value (ACV) basics, unless policy was endorsed to Replacement Cost paying a higher premium.

DP2 FORM.- cover name perils only like DP1 form. Plus: vandalism or malicious mischief, falling objects, accidental discharge or overflow of water or steam, Weight of ice snow or sleet, Sudden and accidental damage from Artificially Generated Electrical current, Sudden and accidental Tearing Apart, Cracking, Burning or Bulging and some companies cover theft (check policy); everything else is excluded.
Claims are settle on an Replacement Cost basics.

DP3 FORM.- This is an “All Risk” coverage form, all perils are covered, except what is specifically excluded in the policy. This is the most complete policy form if there is a company willing to take the risk and you are able to afford, accept the offer.These companies will also allow to insured general liability, loss of income and some other additional coverage like theft off premises in the same policy.

Commercial Property or Personal Property Insurance use theses three forms for: Dwelling coverage only, contents coverage only or both. Loss of income can also be included in one of this type of policies.

Cargo Insurance, by Land, Sea or Air is a Policy that Protects your cargo if it is damage or lost while in transit from one destination to another.

Can your business afford to lose a bundle. Let our cargo insurance to cover your small or big truck cargo, shipping containers worldwide for outgoing and incoming shipments.

Cargo Insurance is like any other type of insurance has limitations and exclusions. Some of the most important factors to consider are: Policy period, is this for a specific period, like a year or temporary, just for this trip.
Where and when is covered, while in transit only or while on your warehouse also. If your are exporting when your responsibility ends as soon as the merchandise leave your warehouse or after the vessel or plane leaves the continental territory. If you are importing the same rules apply where and when you becomes responsible. Would you better be insured with a US company or a foreign company, in case of a claim will make a big difference.
Some exclusions could be acts of war, acts of terrorism and piracy.

If you are a small business owner and not frequently need import/export cargo insurance coverage, you might be better off insuring through your freight forwarder, could cost you less for a better coverage.

We can insured your truck and trailer transporting goods within the State of Florida or within cities going from your warehouse to the Ports or Airports of Miami, Fort Lauderdale, Tampa, Orlando, etc.

Motor Truck Cargo Insurance.- Theft coverage could be excluded if vehicle is unattended.

Marine Cargo Insurance.- Does not cover the ship, for this Hull Insurance is required, which could include furniture inside the ship.

Railroad Cargo Insurance.- Usually has a maximum limit of $25,000 per railcar; because of crossing State lines, check State laws before deciding if more insurance is needed based on cargo amounts.

Open Cargo Insurance.- Designed for frequent users, automatically cover all shipments.

Aircraft Insurance, own or leased airplane, Public and Passenger Liability, Ground Risk Hull Insurance in Motion and not in Motion, In Flight Airplane Insurance and Combine Single Limit.

Aviation Public Liability Insurance.- Cover damages by the aircraft to third party properties like: house, cars, airport facilities and other aircraft struck in a collision. Does not cover damages to the aircraft and injuries to passengers in the insured aircraft. Public or third party liability is mandatory in most countries and limits goes from $1,000,000; $5,000,000 or more.

Passenger Liability Insurance.- Cover passengers riding in the insured accident aircraft who are injured or kill. Policies are sold on per-seat basic with specific limit for each passenger seat. In most countries are mandatory for large commercial aircrafts only, check with country aviation department where airplane is registered.

Combine Single Limit (CSL).- This type of policy coverage combines the Public and Passenger Liability. Has more flexibility paying claims to injured passengers or property damage. Depending on the severity of the injuries and the limits carry in the policy, could be exhausted within a few claims payments.

Ground Risk Hull Insurance not in Motion.- protects the insured aircraft while in the ground and not in motion against perils like: fire, theft, vandalism, flood, animal damage, wind and hail, hanger collapse, uninsured vehicles and some others perils. The Amount of coverage could be actual cash value or an agreed value at the policy inception.

Ground Risk Hull Insurance in Motion (Taxiing).- Coverage is the same as in motion; but there is not coverage while taking off or landing, not many companies offer this coverage alone.

In Flight Airplane Insurance.- protects an insured aircraft against damage during all phases of flight and in ground operation, including while parked or stored. This type of policy is more expensive than not in motion; because most aircrafts are damaged while in motion.

PROTECTS, IF YOU ARE SUED FOR NEGLIGENCE, EVEN IF YOU HAVE NOT MADE A MISTAKE; PROFESSIONAL LIABILITY INSURANCE ALSO CALLED ERRORS AND OMISSIONS.

Professional Liability Insurance main coverage are: Negligence, Misrepresentation, violation of Good Faith and Fair Dealing and Inaccurate Advice; some examples: a designed products not performing as stated in the label, a medical doctor, giving the wrong medicine to a patient, an architect making wrong calculations on a building plan, etc.

A Professional Liability Insurance is a “Claims Made Policy” not “Occurrence“, do not let this policy expired, lapse or cancel; because its retro active date could affect any future claim.

Claims Made Policy Form.- If you are insured under this type of policy, you can report and be covered of a loss any time as long as your retro active date goes back.. if your policy were discontinued for any reason or have changed insurance companies you might have a limited time to report a loss; because your “Retro Active Date” was changed. Usually you have 60 days after your policy has expired to report an accident or incident.

Occurrence Policy.- The best policy, you can report a loss any time and will be covered if the accident or incident happened when the policy was in forced.

Retro Active Date.- A date were your insurance company accepts coverage responsibility of your risk; example, your policy could start 01/01/2014 but your Retro Active Date could be 01/01/2013, this usually happen when you switch insurance companies; make sure you understand this clause.

A Professional Liability Insurance does not cover criminal prosecution. Cover name perils only, stated in the policy.

An Errors and Omissions Insurance.- May exclude negligent acts other than errors & omissions (mistakes) and is most often purchased by consultants, brokers and agents, real estate agents, insurance agents, mortgage brokers, appraisers and others like: information technology consultants.

GENERAL LIABILITY INSURANCE, PROTECTS YOUR BUSINESS FROM THIRD PARTY CLAIMS FOR BODILY INJURY, ASSOCIATED MEDICAL COSTS AND DAMAGE TO SOMEONE ELSE’S PROPERTY.

General Liability Insurance; also known as Commercial General Liability Insurance or Business Insurance is a must buy for a business owner, independent contractor, property investor and any other entity or person that want or need to protect their assets. The common form of G.L. is “A Claims Made Policy” not “Occurrence” (see below).

General Liability Insurance is not a voluntary admission of guilt coverage; you have to be found liable of the accusation or be successfully sued.
Limits recommended should be based on: Value of your assets, type of exposure, risk location and other factors; you do not want to be left with a balance to pay in case the policy pays its full aggregate limit. Every insurance company is different and some may include legal defense and punitive damage awards on top of the aggregate limit. Ask as many questions needed before you purchase this policy.

Bodily Injury.- All G.L. policies include this valuable coverage as default, and a deductible may apply

Medical Costs.- Included in most G.L. policies with lower limits; this coverage could also be part of the B.I. payment

Property Damage.- All G.L. policies include this valuable coverage as default, and a deductible may apply

Personal and Advertisement Injury.- Not included in every policy. Cover you for false or misleading advertising, libel slander and copyright infringement

Products Completed Operations.- Depending on the type of risk, your insurance company could or could not offer and be or not be part of your G.L. policy; if you are an independent contractor like: electrician, manufacture, wholesaler, this coverage is a must, you will be covered even after your work was done. On the other hand if you are a professional like: lawyer, Doctor, Architect and others you must purchase a separate policy called Professional Liability or Errors and Omissions to cover this exposure.

Legal Defense.- Might be included in the general aggregate or on top of that and a deductible could apply.

Punitive Damage Award.- Again this could be part of general aggregate or on top, and a deductible may apply.

Claims Made Policy Form.- If you are insured under this type of policy, you can report and be covered of a loss any time as long as your retro active date goes back. If your policy were discontinued for any reason or have changed insurance companies you might have a limited time to report a loss; because your “Retro Active Date” was changed. Usually you have 60 days after your policy has expired to report a claim.

Occurrence Policy.- The best policy, you can report a loss any time and will be covered if the accident or incident happened when the policy was in forced.

Retro Active Date.- A date were your insurance company accepts coverage responsibility of your risk; example, your policy could start 01/01/2014 but your Retro Active Date could be 01/01/2013, this usually happen when you switch insurance companies; make sure you understand this clause.

Learn More About General Liability Insurance.

Workers Compensation Insurance in Florida.- Is mandatory for any employer who has more than 4 employees, full or part time except in the construction industry which is 1 employee or more. An exempt corporate officer does not count as an employee. Minimum limits are: $100,000 per occurrence; $500,000 aggregate and $100,000 per disease; could be increased to higher limits.

We can insured any type and size of business for Workers Compensation in the State of Florida. (Learn more about Workers Comp. Including exemptions).

Workers Compensation premiums are charged based on how risky your occupation is, of course there are some other factor like: loss history, loss prevention programs and others. Example a electrician is more expensive than an office worker. Premiums are calculated for every $100.00 of the company’s payroll that is why a copy of the last RT-6 or UCT-6 Employer’s quarterly report is needed to quote a Workers Compensation Policy.

If an worker or employee is injured, report immediately to your agent or insurance company, because there are some restrictions that can affect your benefits and they are:

Medical.- Doctor’s visits, hospitalization, physical therapy, and some others

Loss Wages and Other Monetary Compensations.- Temporary Total Disability (TT).- If certified by your Doctor that you can not work; 66 2/3 of your wages and can go up to 80% for severe conditions and
Temporary Partial Disability (TP).- When Doctor states that you can go back to work with restrictions and can not earned 80% of your regular wages, your payment benefits will be prorated.

Death Benefits.- Death occurs within a year or 5 years under continuous disability after the accident. Benefits are due and payable up to a maximum total of $150,000; funeral expenses up to $7,500.00; compensation benefits to dependents and educational benefits to surviving spouse.

A Workers Compensation Insurance Policy is auditable, what this means is that an insurance company has the wright to audit your books to check if you are entitle a refund or bill for an additional premium because now has less or more workers or may be their classification (occupation) were changed, example, a construction company had more carpenters than electricians now has reversed, etc.