We carry workers comp and liability insurance right now. We realized that we were not covered for our drivers. We got a quote for drivers coverage and needless to say the policy is ENORMOUS and it is an annual premium, not monthly, which is a huge chunk of change, about 2% of our annual sales…
Those that have delivery…do you have this insurance to?
If so is your 2% of your annual sales?
We have non owned auto coverage, it runs about 1 % of our delivery sales. Wife insists on having it.
You are nuts to be in the delivery business and not protect your interests. If one of your drivers gets in a bad accident, or has not paid their insurance bill or some other thing you will be sued. Just defending the suit could cost you your business even if you win.
Your driver’s auto insurance DOES NOT COVER YOU or your business. If you are named in a suit (and you will be) the driver’s insurance will not defend you. You will also find that your general liability coverage excludes delivery (unless you have lied to your insurance company and told them you do not deliver, in which case they will not cover you anyway)
Who has assets to go after? Your delivery driver? You? Your business? Your investors? Whoever has the assets is who will be pursued.
Add 30-40 cents to your delivery charge and buy the insurance!
We are definitely buying the insurance, just wanted to see if everyone else’s was around 2% of their sales…
I would like to suggest that you get a quote from Concklin Insurance. Ask for George Tomlinson @ (630) 268-1600. They write a comprehensive policy that combines both business and non-owned. It reduced our non-owned premiums by over half when we 1st switched to them.
I don’t know if they can underwrite in GA, but getting another quote can’t hurt.
We also deal with George at concklin. Good guy. Our rate is closer to 1% of sales, but it is not based very much on sales.