March 14th, 2010 | 
Author: I am not sure of the type of insurance coverage my father inlaw needs. He started a courier/delivery (bulk mail & small packages) service & some places tell him he needs to be bonded to make deliveries. Fine. I called a bond company & they said they dont cover such things & that he requires business Insurance.
Will that cover what is needed? That just doesnt sound right to me. I thought he would need to be bonded because he may be carrying things of value, like contracts, mail, cash, documents etc.
What does he need & who provides it?
He’s going to need at least three types of coverage. 1. General liability, for the operations and office premises 2. Commercial auto, with PUC filings as he’s transporting for others for a fee, and 3. Inland marine or motor truck cargo policy, possibly wiht a PUC filing, as he’s got the property of other’s in his care, custody & control.
Bonds don’t mean what people generally think they mean.
A competant, independent insurance agent should be able to line him up with the correct coverage. But keep in mind, it’s not cheap, especially if he goes over state lines. Expect to pay about $5,000 per year, if there is ONE delivery vehicle.
Posted in Business Insurance
He needs business insurance, liability insurance and the bonding is part of the business insurance with most companies. Talk to your local agent, someone you can trust. Ususally you would write a policy covering your building and supplies, liability and any vehicles you might be delivering your packages in.
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Call a broker. He’ll need General Liability, a bailee form since he’ll be in the care custody and control of others property, Commercial Auto and worker’s comp and disability if he has one or more employee.
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Each state is different but in my state I’d suggest that he get a business liability policy and a general liability bond. Bonds of this type are not required but they make potential clients feel secure. Also, he sould check with his auto insurance agent as many personal auto policies don’t cover vehicles being used for delivery and he may need a commercial auto policy.
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based on SC Nationwide insurance guidelines
He’s going to need at least three types of coverage. 1. General liability, for the operations and office premises 2. Commercial auto, with PUC filings as he’s transporting for others for a fee, and 3. Inland marine or motor truck cargo policy, possibly wiht a PUC filing, as he’s got the property of other’s in his care, custody & control.
Bonds don’t mean what people generally think they mean.
A competant, independent insurance agent should be able to line him up with the correct coverage. But keep in mind, it’s not cheap, especially if he goes over state lines. Expect to pay about $5,000 per year, if there is ONE delivery vehicle.
References :
agent, 21+ years
Fire Insurannce
Float Insurance
Workers Insurances (Job/Employees)
Business Insurance
Employeer(Boss) Insurance, etc…you could go to any of the Insurances company to apply for those policies.
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