Insureon Blog

5 Essential Insurance Policies for Businesses on the Move

5. July 2016 08:09

business woman driving a car

For a small-business owner, picking up certain insurance policies probably feels like a no-brainer. You have property your business depends on, so you purchase Commercial Property Insurance. Easy peasy, lemon squeezy.

For some businesses, it may be that simple. But if your operations take you away from your primary location, you might need one of these additional policies to protect your business.

1. Commercial Auto Insurance

Imagine you’re a consultant, and you get a new client in the next town over. Being the hands-on person you are, you hop in your car to meet them at their location. Unfortunately, you get in a tiny fender bender on the way. What's worse: your personal auto insurance may not cover it.

We understand. You thought you were being responsible, but the fact is most personal auto policies don't cover work-related driving, including errands and business trips. For that, you may need Commercial Auto Insurance.

If you have a vehicle in your business's name, Commercial Auto is a must.

2. Hired and Non-Owned Auto Insurance (HNOA)

Now imagine you’re lucky enough to have an underling to meet that client instead. Any accident in your employee's car is their problem, right?

Not so fast. Because the driver is your employee acting under your direction, you could still be held liable for accidents that happen during business errands. However, Hired and Non-Owned Auto Insurance may cover accidents your employee causes when driving for work.

Hired and Non-Owned Auto Insurance may come in handy if you…

This policy can be purchased as a standalone policy, but many small-business owners choose to add it as a rider to their Commercial Auto Insurance.

3. Inland Marine Insurance

Property Insurance is typically tied to the address on the policy. That’s fine for a lot of businesses, but it can leave considerable coverage gaps for others, including…

Inland Marine Insurance can supplement property coverage for these professionals because it's a “floater policy.” That means it moves with the property it covers and can pay if that property is damaged in transit or at a location away from the primary business address.

Additionally, Inland Marine policies can cover…

Get more details in the blog post “What is Inland Marine Insurance?

4. Special Property Insurance Coverage Endorsement

The Property Insurance gap is a particular problem for cleaning businesses because the majority of their operations take place at their clients’ offices. As a result, many opt for a Special Property Insurance Coverage Endorsement (SPICE). SPICE typically offers…

Note: SPICE is a rider that needs to be added to a Commercial Property Insurance policy.

5. Special Event Insurance

As your business grows, you may find yourself hosting…

Events like these are all fun and games until someone gets hurt. But because these events aren't your normal business operations, your General Liability Insurance may not cover the accidents and injuries that happen during them.

Even if you only plan to host a party for a small group of investors, Special Event Insurance may be in order. It can usually cover third-party injuries and property damage, such as an attendee’s slip-and-fall injury.

Wondering if this coverage is for you? Get your questions answered in "How (and When) to Purchase Special Event Insurance."


Business Interruption Insurance | Commercial Auto Insurance | General Liability Insurance | Inland Marine Insurance | Insurance Terms Explained | Property Insurance | Small Business Risk Management | Tips for All Small Businesses

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