Do you fully understand your insurance policy? One of the most important steps in running an equipment distribution business is finding the appropriate machine dealer insurance coverage. Whether you are a new or established business owner, you want to make sure that you have a comprehensive and up-to-date policy that keeps your business safe. When getting started, you want to first understand what is included in your general liability policy in order to further tailor your coverage to fit your needs.
Most importantly general liability policies for businesses commonly cover a range of common job injuries. A solid policy should include any injury incurred by employees on your location as well as injury to third parties caused by the activities of the company. This basic coverage is essential to any machine company because your employees and potential customers will likely be working closely with heavy and potentially dangerous equipment. Additionally, policies frequently cover injuries caused equipment used off-site.
Your business’ reputation is an essential piece to your success, and general liability helps secure your image. Many machine dealer insurance policies guard you against slander and libel or disparagement, which could greatly harm your success. Additionally, these policies protect you against copyright infringement.
As you develop the right policy for you, it is important to understand what your general liability includes. Next, you want to understand the unique needs of your individual corporation and consider additional coverage.