Several months ago one of my drivers hit someone on a moped who had serious head injuries. I have a $1,000,000 policy that’s probably going to max out by the time all bills are paid. My insurance company dropped my coverage when renewal came up. My agent has been shopping around and only could find one company that wanted to offer coverage and that was at $60,000/year. This is the second incident that happened in the past 5 years. The first was an employee who had already punched out and was off the clock for nearly an hour. On his way home someone walked off the curb without looking. He had empty delivery bags in his back seat. Even though he was off the clock, my insurance settled for $250,000. Their rationale was even if there was a 1% chance of losing the suit, they couldn’t take the chance.
I have been in business for almost 15 years and delivery makes up almost 40% of my business. So I’m sending out an SOS Help!! Much appreciate any ideas.