Fuel Dealers Insurance
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What Insurance Do Fuel Dealers Need?
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Product Liability insurance covers your business if you need to recall one of your products. It covers your costs for retrieving the defective product from the manufacturer or seller to prevent any further bodily injury or property damage.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
Frequently Asked Questions
Why do Fuel Dealers need insurance?
This industry consists of establishments that are involved in selling fuel, such as alternative fuels, bottled gas, coal, heating oil, and liquefied petroleum gas.
Fuel dealers sell and deliver fuel, propane, and kerosene to homes and commercial establishments. Your business ensures safe and timely delivery to your customers. But this doesn’t always go exactly as planned. When a disaster or other risk strikes it can result in very expensive fees that could drain not just your business but your personal assets too.
Your insurance will make sure that your business and personal assets are protected by paying for covered risks, like a liability lawsuit, until it has reached its limits. All you have to do is pay a low monthly fee.
What risks do Fuel Dealers face?
As fuel dealers, you sell and deliver fuel to your clients. No business works without risks, and here are some of the risks fuel dealers can face:
- Your fuel delivery truck is involved in an accident and your business is at fault. You’ll be responsible for the property damages, medical expenses and judgments awarded by the court.
- Your property could be flooded causing all your fuel to be useless.
- Because of the strong chemicals in fuel, your employees could become sick on the job. Your business is responsible for paying for the medical assistance and even lost wages if they got sick on the job.
These are some of the many risks that your business can face.
How much does Fuel Dealers Insurance cost?
The cost of insurance for fuel dealers will depend on the size of the business, the number of employees you have and the coverage required. Most insurance companies will ask for more information to get a definite cost for your insurance. To find out the cost of your insurance, apply online to get a free quote or simply contact our customer service representatives.