Covers your products, materials and equipment that are transported over land (truck or train), or while they're in a warehouse. If involved in a collision, mishandling or cargo theft, Inland Marine Insurance covers the transported goods.
Hired and Non-Owned Auto Insurance protects your small business that hires vehicles or allows employees to borrow company vehicles for business purposes. You're covered for claims of personal injury and property damage if any of your vehicles is involved in an accident.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
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!
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.
Business crime insurance, also known as commercial crime insurance, protects against organization-related crime and the resulting losses for your small business. When someone defrauds, embezzles, forges documents, or commits theft, you're covered for the losses.
What risks could a vending machine operator face?
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.
My vending machine accepts credit cards. Should I get Cyber Liability?
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.
Why does a vending machine need 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.
My employees use their personal car to restock the vending machine. How can I insure them?
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.