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Essential coverages for your vending machine business
When you also have equipment or operate from a store
All Basic plan benefits and:
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
As a vending machine operator, you have expensive trucks and employ drivers who spend a lot of time on the road. Coverage of employees and business assets is essential in case of incidents that may harm them, third-parties or the sites on which you deliver. If you have a warehouse there is the possibility of damage as well as property damage where you deliver, so keep it all covered.
Hired & Non-Owned Auto covers liability expenses when a vehicle is used for work purposes but your business doesn't own the vehicle. This included vehicles rented for temporary purposes like when doing events and employees using their own cars to conduct work errands. It will cover medical treatment and vehicle repair damage when a vehicle is involved in an accident.
Usually a state-mandated insurance, Workers' Compensation will provide cash benefits and medical care when your employee gets sick or injured on the job. It also provides cash benefits for lost wages for until the employee is able to work again.
Theft and vandalism is a common occurrence in vending machines. Protect your business from these incidents by carrying this insurance. Crime Insurance will cover the expenses from the merchandise, money or property loss when your business is victimized by someone perpetrating the crime. It covers expenses for forgery, robbery, or any other form of business-related crime.
Product Liability insurance provides protection for when your vending machine business is responsible for putting a defective product in the vending machine that caused injury to the customer who bought it. The insurance also protects your business should you need to recall one of your vending machines.
Inland Marine is a type of vending machine insurance that deals with moving your business property from one location to another. It protects your business when your vending machine is in transport and has suffered an accident that incurred losses to your business.
General Liability protects your business from property damage, third-party bodily injuries and advertising mistakes that your business has incurred. It pays the cost to defend or settle a suit, and medical expenses that could happen from a "general" claim like for example a slip and fall claim.
Vending machines risk damage from time to time because they are often left unattended. During transport, vending machines could get damaged or destroyed in an accident or during loading or unloading. You are also responsible for the products sold in the vending machine including the cause of a customer's illness. Your employees could charge you for employer negligence when they got sick or injured on the job.
Yes. Your vending machine could be tampered without your knowledge that puts your customers' credit card at risk. If that happens the cost of informing your customers, credit monitoring and court expenses could put a huge dent in your business expenses. Cyber Liability will pay for these costs as long as you are within the limits of the vending machine insurance.
A common misconception is that there is no risk if you don't own the property where your vending machine resides. However, you are faced with a unique set of risks that could instantly destroy your business reputation and well-being. You risk financial ruin from fire, flood, auto accidents and many other perils. And because vending machines aren't monitored all the time, they could be stolen or vandalized and cost you a lot in repairs or replacement.
Since your employees conduct business operations, you need to insure them with Commercial Auto insurance. Commercial Auto insurance is similar to personal auto insurance but with higher limits and better coverage. Moreover, if they are involved in an accident at the time they are tasked to restock the vending machine, a personal auto insurance won't be able to cover it since it is regarded as a business operation.
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