[ad_1]
Not long ago, I received an email from a gentleman who will set up a mobile oil change business in Florida. He was worried about what kind of insurance he may have and was under the impression that 1 million commercial liability policy was needed and beyond work truck vehicle policy commercial vehicle replacement. Well then, let’s talk about this; is he right?
It turns out that he is most definitely, you see a commercial vehicle is not the same as completed activities or potential liability while working. For example, if the car catches on fire you are working on, commercial auto policy is not going to take it. Do you see the point? So, this is advice I explained to him;
You probably want to get a commercial insurance policy; $ 1,000,000 aggregate, 300K event for general liability, with “garage keeper liability is” a signal, and there will be some customers who may require more, and also require the addition insured, not just a certificate of insurance on file .
Commercial Auto Insurance is another need, but most commercial business strategy will write them together as one. Find a good “commercial insurance broker” and have them scout out their sources, usually a broker-agent knows very well Underwriters (as in the speed-dial) and can get you a good rate and the underwriter will understand the difference between mobile and fixed costs. General commercial liability insurance is partly based on estimated gross income.
not the plan or you will pay too much, and do not underestimate or you can get audited by the insurance company or they could easy see that you are not a viable exit. Believe it or not, most commercial insurance policies do a clause in its insurance contracts they may audit you and signing policy you agree in advance that the withdrawals. Thus, it is unwise to fake information or underestimated. If you feel you may have underestimated you need to call you Agent server and explain that sometimes they will add a premium, sometimes up plans for next year’s gross sales.
Now that Florida is a great market for mobile oil changes, however, let’s not forget that there is some competition there, some long 25 + years, in fact, and so, the insurance is only one element or piece of information that one needs to consider before a company of this kind. Please consider all this and think about it, and develop a strong business plan.
[ad_2]
Source by Lance Winslow