The open road, independence on the job, and a second home on 18 wheels – the life of a trucking owner operator isn’t always easy, but for many, it’s worth it. You are your own business, and if something happens to you or your truck, you’re out of work and out of money. Protect yourself, your family, and your business by making sure that you have the right kind of insurance for your truck, your trailer, and you.
TYPES OF INSURANCE COVERAGE FOR OWNER OPERATORS
While average people are often perfectly honest and would never think to commit fraud against anyone, there are plenty of people who are not. Insurance fraud may seem harmless enough, but when schemers are paid money they’re not due, the result is higher premiums for everyone. Insurance fraud is expensive and illegal. Honest, law-abiding citizens are encouraged to report insurance fraud when you see it. Take a look at these common types of insurance fraud so you know what it looks like.
Inexpensive Charlotte workers compensation insurance coverage sounds like a dream, doesn’t it? For small business owners with no employees, who are typically exempt from workers compensation, it can be a lifesaver – or at the very least, a business-saver.
Ghost policies are a type of workers comp coverage that satisfies mandated requirements for single proprietors or self-employed business owners. When a job requires coverage but you are exempt from needing workers compensation, ghost policies step in to fill the gap at a lower cost. The only thing ghost policies do is fill a requirement for a company or government entity that might be hiring contractors. They don’t provide any actual coverage.
Carrying insurance for your business is all part of owning and operating a company. The coverage you purchase protects you, your business, your employees, and your customers in the event of an unforeseen accident. On average, there is one dump truck-related fatality a week in the United States. In the dump truck business, you need special coverage to properly protect both drivers and customers.
Because of the risks associated with operating a tow truck, finding the right Charlotte tow truck insurance policy is extremely important.
Carrying the wrong amount or kind of insurance is just as bad as not carrying any coverage. Your tow truck insurance will protect you, your drivers, your business, and your customers.
CHARLOTTE TOW TRUCK INSURANCE COVERAGE
Big trucks are a necessary part of life. Without trucks, goods couldn’t get hauled from one end of the country to the other, disabled vehicles couldn’t get towed, trash couldn’t be picked up, and boxes couldn’t be delivered to your front door. Trucks are everywhere on the roads and, unfortunately, accidents happen. Good insurance coverage is imperative in your business.
Your Charlotte commercial truck insurance requirements are determined, in part, by how many people drive trucks for your business, how many miles are traveled each year, and what is being hauled.
No one wants to think about it, but accidents happen. You might travel on the same dark road for years without incident, until one night with icy conditions, decreased visibility, and a deer that runs into the middle of the road.
It happens all across the country:
$18,250 – $36,500 in fines, even if there are no workplace injuries – that’s what you could expect if your business is caught without workers’ compensation insurance coverage for a year.
The North Carolina Workers’ Compensation Act requires most businesses with three or more employees to obtain workers’ compensation insurance with few exceptions. While your employees can opt out of coverage, you cannot. Not providing workers’ compensation can be a very expensive mistake.
The gecko says you can save 15 percent in 15 minutes. The lady with the name tag says her company has the best prices – but they don’t have price tags. Another insurance company will zap you out of trouble with a jingle.
They’re all fun and make great commercials.
But do you really have time to check out three, four, or more insurance companies for your auto or home insurance needs? Each time, you have to submit your information, wait for a quote, and then compare.
The Affordable Care Act, often known as “Obamacare,” is in full swing and millions of people are benefiting from the reform. Young people under 26 still have coverage thanks to their parent’s plans. Those with pre-existing conditions know they will always have coverage. Millions of previously uninsured Americans are able to afford health insurance with the help of competitive rates and subsidies from the federal government.
As an employer or business owner, you may be feeling left out and wondering where the benefit is for you. Consider a private health care exchange for your company and reap many benefits of participation.
