What Other Equipment Repair And Maintenance Is All About:
In this industry, workers maintain and repair electronic and precision machinery such as dental equipment, diagnostic imaging equipment, navigational instruments (e.g., radar, sonar), optical instruments, precision equipment calibration, surgical instruments, and weighing equipment (e.g., balance, scales).
What type of insurance does this industry need?
- General Liability: This policy protects your business in case of third-party claims, such as bodily injury or property damage. Getting the right General Liability policy in place can help you get more jobs and grow your business. General Liability insurance is often considered to be a core coverage, particularly for businesses that regularly physically interact with customers and do work at other people’s properties. In addition, a General Liability policy is usually required for you to get a job.
- Workers Compensation: Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work. Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.
- Inland Marine: Inland Marine insurance covers goods in-transit either on land or through shallow water, as well as certain types of movable property (such as medical equipment). If your business has valuable equipment which regularly needs to be moved, then this can be a core policy to protect your property.
- Commercial Auto: Commercial Auto insurance provides coverages such as liability, collision, comprehensive, medical payments and uninsured motorist coverage. Any vehicle on the road must be insured, and any incidents that occur while a vehicle is being used for business purposes may not be covered by a personal auto policy. That's why it is so important to make sure you have Commercial Auto insurance for any vehicles owned by the business.
- Hired & Non-Owned Auto: This insurance protects the business in the case of any incidents involving a vehicle that has been hired by the company to be used for business-related purposes. It also provides coverage in the case your business uses other vehicles which are not property of the business, such as having delivery drivers use their own vehicles. If your company hires vehicles or allows employees to use their own vehicles for business purposes, you will want to consider this insurance.
