Liability Insurance

What sort of liability insurance does one need for a sole-proprietor HVAC Repair business?

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2014-03-21 20:15:46
2014-03-21 20:15:46
(CGL) Commercial General LiabilityThe type of insurance you need is called "Commercial General Liability" also sometimes referred to as "Contractors Liability Insurance"

As an Sole Proprietor providing a repair service you are considered to be engaged in a commercial activity. This type of repair usually comes as a service or repair contract, hence the contractor reference

Good luck

AnswerA local Insurance Broker is the best way to find business insurance. They are not a captive agent like Farmers, State Farm and Allstate. They have the ability to shop the market to get you the best rate.
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An insurance broker or agent licensed in your state can help you find liability insurance for your HVAC Company.

I just got a quote in Nebraska for 250 yr for general plus 500 yr for commercial excess liability.

That is the type of insurance policy that a car dealer or repair shop would carry. Covers their business risks.

You need a garage keepers liability policy which will include coverage for the motorcycles in your possession, liability while testing them, liability for the premesis and your work, etc. If you have employees you will also need work comp insurance. If you are just starting this business up, I would estimate 1% of your total gross reciepts as insurance costs, with a minimum of $2,000 annually.

Garage Keepers LiabilityThe type of coverage you need is a "Garage Keepers Liability" Insurance Policy. This Commercial Lines Policy is the appropriate insurance coverage for an Auto Repair Business and is widely available through most commercial underwriters.Just contact a local agent that offers commercial insurance in your area.Auto repair businessIt's important to make certain your policy covers: Products/Completed Operations Insurance for all completed work you perform on vehicles.Personal and Advertising Injury Insurance - In case you slander another firm in your advertising.Medical Expenses Insurance - In case a patron is injured on your premises.These coverages are all usually provided through a Commercial General Liability Insurance Policy.Best of luck with your businesses. Remember to compare quotes so you get the best prices and the best plan to meet your needs.

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The insurance that I carry for my Detail business is $500,000 policy that covers the trailer and its contents with comp and collision because I'm mobile, higher coverage for the tow vehicle, and coverage for any repair on and in the vehicle that I am working on.

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Chancel Repair Liabilty insurance is a liability for some people that own property in England and Wales. Chancel Insurance is located in England, where it is very commonly known.

94381-0-Fire Suppression Systems -installation, servicing or repair

The term "Liability" means anything you are libal for. The best way to put it is the liability section of an insurance policy covers other people's bodies and stuff, in the event you harm either of those things. The medical and car repair bills for anyone else involved in an accident you caused

No. Physical Damage coverage to your own vehicle would be covered in this instance if you purchased the coverage, but liability only would not repair the damages.

No - they are not exempt - there really is no requirement for General Liability insurance such as there is in some states for auto insurance. To my knowledge there are no general laws that require any company to carry General Liability insurance. There may be local or state laws that require proof of insurance to access privileges, such as being licensed to conduct business in a town or state. Many entities require proof of coverage such as customers, lienholders, mortgagees, licensing entities (city, state, business, professional licenses), and many more. I do not believe there is a blanket "law" or requirement that applies to all business entities. In practical fact, it is the stakeholders in and around any business that "require" insurance to make the risk of doing business with the entity one that is somewhat controlled. Auto warranty companies may be only selling a promise to provide a service through another entity - the dealer or repair shop - and therefor try to advise an unhappy customer that they don't need insurance, i.e. go see the entity that was to provide the maintenance/repair. That does not mean the warranty company does not have insurance; most probably they carry both General Liability and Professional Liability. It is most likely they carry a VERY high deductible and REINSURE the rest and are probably part of a Risk Retention Group which further reinsures the exposure.

No, you can spend that check anyway you like. It's your money. The insurance company doesn't care if you repair your car or not. You could decide you will take the train to work, it is your business.

It would be impossible for someone to answer this question based on the information provided. There are many factors that go into determining your premium. You are better off just calling up your provider of choice and getting a quote.

I'm thinking of starting a home repair business. Where do I find the legal requirements, such as business license or certifications, for the state of Florida? How much insurance should I carry?

No Fault insurance ONLY deals with medical injuries to you if you are driving. No Fault has nothing to do with property damage liability. If you hit a parked car, then your Property Damage Liability coverage would pay to repair the parked car and your own Collision coverage (if you have it...it's optional) would pay to repair your car.

Repair it make a planter out of it sell it for scrap Without collision insurance you are out of luck unless the accident was the other guys fault, in which case his insurance will pay you for the value of your car and collect the remains.

In automobile insurance, collision coverage provides for repairing a vehicle when it is damaged due to the fault of the insured. Liability insurance provides for cost of repair of the OTHER vehicle if you damaged it.

Does filing a windshield repair claim effect the my rates? Most insurance companies view windshield repair as preventive maintenance. If a chip is left unrepaired, it likely will crack out and lead to a costly windshield replacement. Most insurance companies waive deductibles for windshield repair. Windshield repair saves policyholders and insurance companies millions of dollars annually. However, we can't speak for every insurance company. How do I know if I will be covered for the repair? I will be able to tell you within minutes if you have the necessary coverage for windshield repair. On occasion, the insurance company will not be able to immediately verify coverage. As a general rule, a vehicle under 8 years of age is a safe bet. If you have more than liability insurance, coverage will usually pay for the repair. What insurance companies do you work with? We add new companies every day. We work with insurance's of all shapes and sizes. We only know of a handful of companies that choose not to waive deductibles on windshield repair. Will checking on my deductible or inquiring about windshield repair raise my insurance rates? Asking your insurance provider about your policy coverage and deductibles is generally not considered a claim. Will filing a windshield repair claim count towards my insurance policy? In many cases, insurance companies will not count windshield damage as a claim on your policy. What if I only have liability coverage? Because liability insurance only provides coverage for damages to another vehicle,windshield repair services are not covered under your liability policy. We offer multiple payment options including cash, checks, Visa, MasterCard, Discover and American Express. Will all insurance companies waive my deductible if my windshield is repaired rather than replaced? Many insurance companies cover windshield repair at 100 percent coverage with no deductible. We will be happy to help you with your questions regarding insurance coverage. Do I need to contact my agent or insurance company? We're experts at verifying coverage, filing the claim and handling all the paperwork. , We'll contact your insurance company and submit the claim on your behalf.

The website autos.com/auto-repair/car-repair-insurance has a listing of auto repair insurance carriers. Also, it explains the purpose of the insurance and a guide to tell whether or not you need it.

what do you disagree with? amount of repair or total? liability decision? there are many different avenues dependant upon what the disagreement is about.

There are several companies which offer car insurance in New York City. Nationwide auto insurance offers insurance and includes a written guarantee on repairs, a choice of repair shops and the ability to see your repair online. Mercury Insurance notes that Forbes called it "One of America's most trusted companies" and offers several options within it's car insurance service including liability insurance, collision insurance, comprehensive insurance, medical insurance, personal protection insurance and uninsured driver insurance.

Business insurance, generally speaking, helps protect a business from any severe losses. If something bad happened to the business, such as damage to the property or a natural disaster, business insurance may help the company re-coup the damages. There are some advantages and disadvantages to business insurance. A clear advantage is if there is any significant damage to the property the business is in, the business insurance can cover most of the damages. However, like any insurance policy, business insurance has a monthly premium and is usually high to cover most of the typical damages seen in a building or experienced during a disaster. In a bad economic downturn, it could be advantageous to not invest in business insurance and, if the day ever occurs, the business can use its own funds to repair damaged infrastructure. However, many aspects of business insurance can cover expenses that are not foreseen. For example, business insurance can cover the damages a business must pay for workman's comp. Business insurance can also repair expensive capital at a business, such as large industrial machines. It is also important to keep in mind that personal worker insurance can be part of a business insurance package. This includes not just health benefits, but insurance coverage over any other benefits the business wants to provide graciously for its workers. The best strategy then is to invest in a business insurance agent. These professionals are well trained and specialize in knowing the current rates and premiums for specific business insurance policies. For example, the business insurance agent may only suggest that the business invest in workman's compensation insurance, especially if its a labor intensive company. If the business is more technical and has large capital investments, then different forms of equipment insurance could be bought. The agent is mainly looking out for the business' best interests, especially since the premiums could high. Also, it may be easier to find an insurance policy that bundles all these aspects together, such as business insurance that includes liabilities, commercial property, and worker's insurance. Business insurance is one of the surest ways of protecting a company and its assets. Although it is an investment per month, business insurance can save a company thousands or millions of dollars if the worst case scenarios happened.

The Insurance Company is required to indemnify you for your loss. It's your business if you decide to repair the vehicle or use the money in some other way. So, No, you don't have to repair the car and Yes, you can keep the money.


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