Saturday, November 24, 2012

Eight Typical Sources of Directors Liability Claims

The latest business conditions have developed into a legal trap for the administration of an organisation. The decisions generated by directors and officers can affect business partners differently. For that reason managers can be directly subjected to claims from an array of places:

1. The Company Itself Whilst the board of directors are not able to prosecute itself, a named regulator or an administrator are able to take authority over an enterprise and pursue company directors for breaches of their company duties or negligence.

2. Investors Executives are increasingly getting held accountable for the overall financial performance of corporations by investors. Assertions normally include allegations of inferior or inexact disclosure, defective solutions to takeovers, mismanagement, personalized exploitation, misappropriation and/or clashes of curiosity, misleading, deceptive and mistaken disclosure in prospectus records.

3. Workers A corporation's own employees are a typical origin of insurance claims towards managers. Actions could be brought towards management along with claims of defamation, inappropriate retrenchment, constructive contract termination, along with sexual pestering & discrimination around the office.

4. Superannuation Fund Receivers Superannuation managers have a great level of burden, to be certain their own effectiveness results in gains for fund personnel. Very little evidence must be displayed regarding motive or carelessness, to discover that any violation of a trustee's responsibilities has happened.

5. Collectors Lenders can hold company directors accountable for helping a company to deal while insolvent, by enduring to take assignments and incur money owed with this understanding.

6. Clients & General Population Company Directors might have to deal with compensation claims of misleading and fraudulent conduct under Market Practices and Fair Exchanging regulation. Managers will also be subjected to allegations of error, due to breaches in his or her responsibility of care owed to the community.

7. Challengers Sector challengers might make lawsuits that an organisation is in violation of a number of anti-competition rules, like the Business Procedures Act. Actions can open up to provide allegations of collusion and breaches within the Corporations Law, for instance deceitful and deceiving practice.

8. United states government & Regulatory Bodies Company officers have tasks and requirements, which arise due to a variety of regulations. A breach of any on the subsequent statutory requirements can result in officers being the subject of inspection and justice by governing offices:

Organization and investments legislation Superannuation Commerce methods and fair trading law Equivalent chance and anti-discrimination laws Occupational health and safety legislation Tax and Superannuation legislation Dangerous goods law Environmental safety guidelines Personnel compensation Customs and excise laws

Importance of Insurance for Shops and Retail Stores

Shops and retail businesses principally deal with perishable goods and to some extent with non-perishable goods. They have to maintain substantial quantities of inventory as well as ready-for-sale stock of such goods. They also need physical stores and objects used to market or display their products to the consumers.

Considering these various aspects, retail businesses are exposed to various kinds of risks ranging from competition and emergence of new products, change in attitude of customers etc., to man-made and natural hazards for inventory and property. These risks are same for every retail business - large, medium or small. However, these risks can be insured. In the current scenario, the risk liabilities and cost involved in replacement of lost inventories, demand considerable finances which retail businesses can ill-afford, especially at times of sudden emergencies. It is for this reason, insurance is very important for such businesses in protecting them from all kinds of risks.

Inventories and stock For shops and retail businesses, it is important to have in hand, a ready-to-serve inventory to replace the sold out goods. Hence, it is significant to protect them from damage/loss caused due to natural calamities (such as torrential rains, lightning, earthquakes, etc.,) and man-made causes like fire, vandalism, and pilferage by employees/intruders, etc. As the owner of a retail business, you should protect them by buying an appropriate insurance cover, given the sheer size of materials and cost of buying new inventory involved.

Shelves and fixtures Display of merchandise is an important aspect of retail stores. They use different types of shelves (made up of different materials such as glass, metal, wood, etc.,) for broad and attractive display of products. Also different types of fixtures such as hangers, rods, etc., and electrical fixtures such as lightings, etc., are used for clear and attractive presentation of products. As these shelves and fixtures are inflammable and fragile, they are vulnerable to different types of damages caused due to fire accidents, natural disasters or even slight negligence in placing products on shelves.

The shelves and fixtures are one of the important factors that contribute to the physical storage of goods. So, any damage caused to them may not stop the business, but may cause potential damage to the business and also inconvenience to the customers, which may lead to temporary interruption in the business.

Buildings and premises Retail stores are usually housed in buildings (single storey or multi-storey) which are either owned or taken on lease. Any damage to the building (either by natural disasters or by man-made accidents), can cause massive loss to the shops and retail businesses therein. And if the building is owned by the shop owner, then he has to bear the huge cost of damaged goods as well as the building. In such cases, buying insurance for the building and housing is significant as the financial condition of businesses cannot endure the sudden strain caused by the damage.

Liability claims As a retail business owner, you are vulnerable to risks of liability originating from customers, employees, general public, vendors, etc., if any damage is caused while conducting business in your premises. All these groups are potential agencies causing risks of liability to your business. It is therefore, necessary for you to buy insurance for your shop/business that covers liability claims.

The litigation involved in such cases debilitates your confidence and you would not be able to concentrate on your core business. Be rest assured by buying a suitable insurance cover to protect your business against all these potential risks.

Being in retail business, you are exposed to a host of risks from diverse demographic as well as calamitous situations. These factors spell disaster for your business. To protect your businesses, you can buy insurance, for which you have certain options, of which retail shop insurance is the best.

• Shop insurance - a comprehensive package As already stated, retail businesses are subjected to various kinds of risks - legal risks, damage to goods, property and inventory. Hence, you are in need of insurance to protect you against all these risks. But instead of having individual insurance coverage for all these risks, a single, comprehensive policy called shop insurance is available, which covers all the potential risks associated with retail businesses.

• Protects from unpredictable losses Quite apart from the potential risks to your business, there are certain situations that might not be in your control, e.g. unfavourable business situation such as a general recession in the economy as a whole. Under such circumstances you have to shut down your business temporarily or inject fresh investment or liquidate. As finances of retail businesses are not strong enough to endure repeated financial strain, you can make the best decision by buying shop insurance.

• Helps in doing the business with much confidence Assurance of protection offered by retail business insurance coverage helps the business grow. It would help you enhance the goodwill among different interest groups you deal in course of your business, which is one of the critical factors for the growth of your business.

Remember, buying insurance for your retail business is not an investment as is supposedly perceived. Insurance protects your business against the effects of loss causing factors. By this, it enhances the profitability of your business in the long run and thus, makes it possible to foray into new domains.

Learning the Basics: Truckers Insurance

It is a confusing process selecting commercial truck insurance for your big rig. When making the last coverage decision there are several questions that need asked.

What coverage protects me if I injure someone else or someone else's property? What coverage can protect me if I get injured? What coverage will give repairs to my truck if I get in an accident? What coverage will protect my cargo?

Truckers Insurance: Why it's important

Commercial truck insurance is a necessity for all truckers. Coverage decisions will should be enough to protect you from any possible catastrophes. Even if it is not your fault your livelihood could be taken away in a split second. With the proper insurance you will have piece of mind knowing that you are not just one mishap away from being out of work and possible bankrupt. Here are the most common forms of commercial truck insurance offered:

Primary Liability Insurance - covers the damages or injuries to someone else during an accident where you are at fault.

Non-Trucking Liability Insurance - covers damages or injuries to others while the truck is not dispatched on a job. Most truckers will need this coverage because there will be times that the truck is driven for personal reasons.

Bobtail Insurance Coverage - covers property damage or injuries that you cause while the trailer is not attached to your truck even if you are on a job. For example, you may drop off your load and while in transit to your next load you have an accident. Bobtail insurance coverage would cover you in this case.

Bobtail and Non-Trucking are similar but different

Non-trucking liability insurance and bobtail coverage are often confused with each other because of their similarities. Primary liability coverage is mandatory for all truckers. These other types of liability coverage can offer protection for situations that fall between the cracks. An accident in your truck could happen at anytime when it is in use. Knowing how you use your truck will help decide which coverage you will need.

Physical Damage Coverage - covers damage to your truck if you are in an accident and includes theft as well.

Motor Truck Cargo Insurance - coverage protects you if your load was damaged during transit.

Medical Payments Insurance - covers medical bills if you, a family member or an employee was injured while driving or riding in the truck.

Uninsured Motorist Insurance - provides protection if you are in an accident with someone who does not have any insurance or does not have enough insurance.

Even on the basic commercial truck insurance policy there are many choices for you to make. Don't make the mistake of choosing insurance based solely on the price like many truckers do. Price is an important factor, but the right amount of truckers insurance can be a decision that can make or break your truck business.

Understanding Insurance: Commercial Insurance 101

Want to save you time and money down the road, if you own your own business than it is important to match the insurance you carry to the company you keep.

Especially important is commercial auto insurance, you might want to talk to your independent insurance agent who specializes in that particular area if you're not sure what kind of commercial auto coverage you need. You need the protection that's right for your type of business and your independent agent can work with your to put together a package that will meet all your business needs.

You need to have coverage that is right for your industry and the size of your company when you have a business with commercial vehicles. Your business needs an independent agent who specializes in commercial auto coverage that can offer your business with the kind of advice you need to make the right choice.

Tips to help you find a commercial auto insurance agent:

A captive agent represents only one insurance company, an independent agent represents a number of insurance companies, so chose wisely and be sure and get objective advice. Independent agents can offer coverage options for various companies and will be more flexible, increasing your odds of getting a good combination of coverage, price and service that fits your business needs.

Websites such as driceinsurance.com can give you coverage option information and a way to find a good independent agent in you local area. So do some research on the websites of larger insurance companies gain some knowledge of the options you have available to you.

Referrals, seek referrals. Other business owners you may know, business and professional organizations, can give you some great referrals. Chances are other business in your line of business will be able to recommend an agent that they've worked with.

When it comes to business related insurance, one size does not fit all. That business you started in the garage or at the dining room table with just one vehicle has grown to the point where you have several vehicles and you have to move to a large commercial warehouse.

As your business keeps growing so will your insurance needs. Don't be caught being underinsured when something unforeseen happens. Just one incident could make you lose every thing you have worked so hard and for so many years to do. It is just not worth all the problems.

Compare and Save With Commercial Truck Insurance Quotes

I can think of lots of ways I would rather spend my free time than reviewing my insurance policies and comparing quotes or talking with my truck insurance agent. When was the last time you reviewed your policy? Do you just renew it each year?

We all know time is money, however if you aren't going over all of your commercial insurance policies then you might be leaving some money on the table. Some people would rather not invest the time it takes to get truck insurance quotes. And that is a judgment call only you can make.

But by not getting these quotes and reviewing your policy each year you are setting yourself up for disaster and spending too much money in the process. Some truckers have found that they were overpaying by 40%. Unfortunately, there is not way of know if you are overpaying on your truck insurance policies without reviewing them with your truck insurance agent. The money you might be saving could be quite large. Truck insurance rates change all the time and rates differ from company to company. Saving this money on your commercial truck insurance could be more beneficial to you than you might think when you take into account the taxes into the equation; your savings have a multiplier effect.

After being in an accident the last thing you want to find out is that your insurance company is not going to pay. Some gap in your policy you did not know about. Your agent wanted to present you a cheap truck insurance policy and left a hole in your coverage. I'm sure not something you want to find out about sitting on the side of the road with your load. You never want inadequately covered.

And on the flip side is being over insured what a waste of money. Are you paying for more insurance than you will ever need? Insurance companies sell you security and some will over sell to boost their commissions. Most agents are honest and have integrity, but you still should review your policy on an annual basis. Your needs could have changed too.

By getting multiple truckers insurance quotes will give you a better understanding of the proper amount and types of coverage you need for your unique situation. Everyone's situation is different, so when it comes to your truck insurance get some quotes and discuss them with your agent.

Appraising Jewelry to Insure Protection of Its Value

The average price of gold jewelry has more than tripled in the past 10 years, which means anyone who hasn't reappraised their rings, watch, or other high-quality items (like an 18K gold necklace) since it was first purchased or shortly after, may realize that there's a good chance it's underinsured. The rise in their value, not only with gold, but also with platinum and silver, will probably not be reflected by current insurance policies that insure these items. That is why it's not only advisable to appraise jewelry once every year but to also look at the type of insurance coverage that is protecting these precious items in the event of loss. One may be surprised that the right coverage is not in place.

Homeowners insurance offers limited protection

Most individuals automatically assume their basic homeowners insurance provides coverage for their jewelry. What they may not realize is that a homeowners policy, or a renters policy, does provide some coverage but only for a limited amount. Jewelry, like fine art, stamp collections, and other valuable items have a limited pre-set amount of coverage. Further, in most policies not all perils are covered. For example, a homeowners policy does not usually cover damage or loss of all or part of an item. What's more, these policies have severe limitations on coverage for theft, sometimes as low as $500. And then there's the policy's deductible.

Options available for high valued items

For higher-priced jewelry or the family heirlooms passed from one generation to the next, it is recommended that individual items are appraised and insured. This is done through a Personal Articles Floater, which can be written as a stand-alone policy or attached to a homeowner's policy. With this type of insurance, the coverage is generally very broad, covering all risks worldwide, with only a few exclusions.

There are several top-rated insurance companies that cater to this market within their private client services division that provide high-end homeowners insurance and other products. Premiums vary from state to state, and they can also vary among companies serving the same area. Often the best rates are secured by insuring jewelry with the same company that is issuing other policies including homeowners or auto. An independent insurance agency will be able to advise where to best secure coverage.

Most individuals automatically assume their basic homeowners insurance provides coverage for their jewelry. What they may not realize is that a homeowners policy, or a renters policy, does provide some coverage but only for a limited amount. Jewelry, like fine art, stamp collections, and other valuable items have a limited pre-set amount of coverage. Further, in most policies not all perils are covered. For example, a homeowners policy does not usually cover damage or loss of all or part of an item. What's more, these policies have severe limitations on coverage for theft, sometimes as low as $500. And then there's the policy's deductible.

Understanding PI Insurance

One of the most popular choices for insurance is Professional Indemnity Insurance, otherwise known as PI Insurance, or PII. PI Insurance is a policy which covers a contractor in the event of a mistake or negligence on their part leading to financial losses for the end client. (Whilst this may sound like something a contractor won't need given their expertise in the area they're working in, accidents happen and it's not uncommon for most limited companies to prove they have a PI policy in place before taking up a contract with them.) Basically, a contractor's professional indemnity is covered by the policy for any mistakes that they make that result in a claim.

Aside from the cover it offers, PI is a great way to point out to HMRC that a contractor is a Limited company that takes financial risks, therefore a contractor and not an employee for your end client. This isn't the be all and end all of IR35, but it's an excellent starting point that serves to strengthen a contractor's position.

Successful contracting starts with status. For contractors, it should be made perfectly clear that as a self-employed professional, they're operating as part of their own business, and they are not actually an employee for the end client. This is related to all the advice that exists and circulates about being outside of IR35. One of the best ways to show that a contractor is in fact their own business is having an element of financial risk, and having an insurance policy is considered under this bracket.

The benefits of PI Insurance are vast, and the protection the policy provides is vital. When choosing the right PI Insurance however, contractors should take into consideration the following factors:

How long the policy lasts (The usual policy lasts for a year and is purchased annually) Liability Cost (When purchasing the policy, make sure you chose the correct liability cost depending on the risks that your occupation entails, and potential for error that exists) Getting the right policy (It may seem very simple, but many people still purchase either far too much or far too little Insurance than they should do)

Contracting is a line of work that experiences high risks, and often contractors can incur huge claims being made against them. As a professional working for a limited company, their mistakes are not covered by a corporate umbrella or large business, therefore insurance is needed in the cases where a contractor may make a mistake resulting in the financial loss of the client they may be working for. Basically, contractors need insurance to give them ample protection should the worst happen during a contract, and the finger then points at them. PI Insurance really is the essential insurance for contractors, being both a vital form of protection and a great tool in demonstrating status.

Importance of Insuring Your Pub/Bar Business With a Specialized Policy

Pub/bar business involves considerable risk because of the very nature of the business, the people and consequences involved thereof. All this will impact the business with adverse repercussions in the form of loss resulting from accidents, vandalism and so on, leading to financial liability. In this context, having an insurance policy that is specialized to cover all the risks faced by pubs or bars plays a significant role.

What does pub insurance cover? Pub business, like any other physical business, needs insurance for building, stock and equipment. Additionally, this business is at great risk of facing liabilities from public and employees. Hence, a specialized pub insurance policy should cover all these risks.

• Public liability: Pubs are greatly frequented by public, especially during nights. As people who visit pubs are mostly in enjoyable mood and many times under the influence of alcohol, it is the responsibility of the pub owners to keep their premises as safe as possible. In any event of accidents, caused due to the negligence on part of the pub employees, the owners may face huge legal liabilities and compensation claims.

• Employer's liability: Employer's liability involves the compensation that has to be paid by the pub owner in the event any of his employees gets injured while on duty. To cover employer's liability is mandatory to every pub business. Every employer is obliged to purchase this insurance under law. This insurance protects the owner of the pub/bar from such liabilities posed by employees to employers.

• Stock and contents of the business: Your pub/bar deals in food, beverage drinks and other non-durable goods. Combined with this is the equipment like fixtures, furniture, electrical equipment, etc. Any damage to these would impact your business considerably. Pub/bar insurance protects your business against such losses caused to your stocks and contents due to theft, fire, vandalism, floods, lightning and so on.

• Covers pub/bar building: Besides covering these losses and liabilities, pub insurance covers the damage to the building that houses the pub/bar. This is important from the standpoint of time-lags involved in the turn-around of the business. The sooner your building is repaired, the sooner can you resume your business. For this, pub/bar insurance would be of great help to you.

Additional covers can be included Another advantage of this insurance is that it is flexible enough to accommodate any of your needs, other than those covered under the insurance. For example, if your business is seasonal, and is operational during a particular month(s) of the year, the premium could be adjusted to that.

Given the risk involved in pub/bar business, it is sensible to buy the insurance. Pub/bar insurance is easily purchasable from brokers. While doing so, you should consult reputed brokers. Browse the Internet and research thoroughly. You can even give the details of your business, like size, type, preferred types of premiums, etc. on an insurance brokerage website. Doing so, you can get approximate insurance you need to purchase for your pub/bar business.

How Copyright Protection Works in the IPR and Entertainment Industry

Copyright is a term describing laws to reserve the rights of creative works to their original creators, or subsequent legal owners, for a specific period of time. A copyright is not the same thing as an industrial patent, which protects inventions and designs of tangible physical objects. Copyrights are instead related to intellectual property-music, books, art works, movies and films, and technology like computer software and databases. IPR insurance provides the copyright owner with the resources needed to take action against unauthorized use of intellectual property and receive compensation.

What's Covered Copyright laws typically grant the author or creator-or another party who legally holds the rights to the creation-the legal right to either permit or prohibit particular acts involving his or her unique work. These include: Reproduction in any media that might be applicable such as print or sound recordings, distribution of copies for sale or free, and performance, broadcasting or any other dissemination in a public media. Translation into additional languages and conversion or adaptation into some other genre -adapting a book into a Broadway play, for instance-is also limited by the copyright holder.

Limitations Copyright laws in the entertainment industry incorporate limitations that allow for use of creative expression without fulfilling the usual procedures to gain rights or compensate the creator. Often, if a creative work is not written down or formally recorded in some manner-certain dance choreography, for example-its use may not be restricted by copyright. Another example of copyright limitation would be governmental decisions, transcripts of legal texts and other official documents. These are generally open to free use by anyone.

Free and Not-So-Free Use Free use is another copyright limitation, which allows use of creative work in the entertainment industry without authorization by the copyright owner or compensation to the copyright owner. Free use typically applies to scenarios where reasonably small portions of a larger work are excerpted or quoted and the name of the original creator of the work is properly included in mention. Free use also extends to using portions of a creative work for the purpose of education or for use in news reporting. If a copyrighted work falls under the category of a non-voluntary license, the portion of work may still be used without specific authorization; however, the holder of the copyright must be compensated. This is another scenario in which the resources of IPR insurance could be critical to receiving payment for copyright violation-particularly for the smaller, individual player in the entertainment industry who may not possess the assets or clout to pursue violations without insurance backing.

Copyright Duration No copyright lasts forever. A copyright is valid for a specific span of time during which the rights of the copyright owner are fully enforceable under the law. Generally, the beginning of the copyright is considered to be the moment the work has been created or placed in some permanent form such as written down, recorded or photographed or filmed. Copyright laws are designed so the copyright will outlive its original owner by some period of time so that his or her heirs may benefit from the original creator's work. In the United States and the European Union, for example, the laws state that the copyright of works of creative and entertainment arts remain viable for 70 years following the death of the original creator.

IPR insurance is a valuable complement to the array of copyright laws that protect creators in the entertainment industry. It provides the assets and security to allow parties of all sizes to compete on a level playing field in the enforcement of copyright laws and obtain just, proper compensation when they are violated.

Do You Need Emergency Roadside Service for Your Business?

It doesn't matter if you have a small or large business, if you have employees that drive company vehicles you need emergency roadside service. This type of coverage has many benefits that can help your company succeed. For example, it can help to ensure that your employees get to where they need to be on time.

You never know when something will happen to one of your vehicles even if you do keep regular maintenance up on them. Some things just can't be prevented and it's when these emergencies occur that you need a plan in place to help take care of the problem fast and efficiently.

This type of service can help your company run more smoothly. Consider this. One of your employees is on the way to a meeting with a client that could have a huge impact on your company's future but on the way, he stops for fuel and when he tries to crank the vehicle, it won't start. The battery is dead.

By the time you get him help or he finds help on his own, he may miss the meeting and the account is lost. However, it's possible for him to still make the meeting on time when you have emergency roadside service.

Emergency Roadside Service Protects Your Employees

Another reason that your company needs emergency roadside service is to protect your employees. They are the heart of your business no matter what type of company you have. They are a huge part of what makes you successful and you need to protect them anyway you can. One good way to make sure your employees has help when driving a company vehicle, is to have roadside assistance. If the car leaves them stranded for any reason, help will soon arrive.

You also don't want them to work on your vehicles because it's putting their health at risk. Suppose they have a flat tire, try to change it themselves and the jack slips out from under the vehicle injuring your employee. That would cause a lot of problems for everyone. It would be best to have a plan to help take care of roadside emergencies instead.

Emergency Roadside Service Can Save You Money

You may not realize it now but emergency roadside service can save you money. Think about how much it would cost to have your car towed if it breaks down and compare that to the cost of purchasing this type of service for one year. If that's not enough to justify the cost, multiply that expensive by how many company vehicles you have.

Of course, all of your vehicles probably won't need a tow within a year but your drivers could encounter other emergencies. You may have an employee who is rushing to get to a meeting who leaves the keys locked in the car. If your drivers travel a lot, it's possible for someone to run out of gasoline. They could even end up stranded on a long stretch of highway with no sign of life for miles.

Will you have time to take him fuel? Do you have anyone sitting around the office not doing anything important? Probably not but you will have to send someone to help if you don't have roadside assistance. You can't just leave them stranded to figure out to do for themselves.

Some types of roadside assistance plans include hotel and other traveling discounts. Trip and routing services can also save you money and time because it helps to keep the driver from getting lost when traveling somewhere new. There are many benefits associated with emergency roadside service, making it a great investment for any company.

Achieving Lower Rates Through Safety

Achieving cost-effective coverage for a company is a matter of safety. Safety measures can lower rates in both the short term and the long. Short-term savings include the discounts from the provider due to the measures implemented up to its standards. Long-term savings include the avoidance of expenses, such as increased coverage costs, that arise from making safety-related claims. These long-term savings are achieved through measures implemented up to the company's standards.

Scheduled Safety Evaluation

Achieving the best safety measures for lower rates requires scheduled safety evaluation. The most common mistake that companies make is that they perform the safety evaluation just once or far too infrequently. All companies should reevaluate safety at least on a yearly basis. They should do this even if the policy term is longer than a year.

Third-Party Assessment

The second biggest mistake that companies make regarding safety is that they rely solely on an in-house assessment. The better approach is to balance that in-house appraisal with an evaluation from the policyholder and a third-party firm that specializes in safety for that particular industry. Safety concerns within an industry change rapidly, and such firms provide considerable benefits.

Regular Training

Strong safety measures for lower rates also require regular training for the employees that are affected by them. Understanding is more than just knowing, and a company should not assume that employees will appreciate safety measures without hands-on instruction. In addition, safety training should be an ongoing process even if the safety measures themselves do not change.

Incentives

Many companies have great success providing incentives to individuals and groups that are able to maintain safety standards over a period of time. Employees achieve such success by not having an accident or other mishap that requires the company to make a claim on its policy. It might seem odd to pay more for safety up front, but this can provide great financial benefits over the long term.

Vendors and Subcontractors

When it comes to executing safety measures for lower rates, a company must also take into account all vendors and subcontractors. There are many scenarios where these individuals and groups directly affect the company's risk. In these cases, the company should approach these vendors and subcontractors as if they were employees.

Off-Site Considerations

A company that provides services off-site must also take those sites into consideration. It is not good enough to have safety measures in place at the headquarters only. The risk off-site can be as great and, in many cases, greater than the risk at home.

Conclusion

Achieving lower costs associated with risk is more than just any single safety measure. Effective and efficient safety is a process, the execution of a plan that continues to evolve. Without this approach, a company will pay much more than necessary.

How to Compare Commercial Roadside Assistance Plans

You already know what a valuable resource a good roadside assistance plan can be, but with the myriad of different programs to choose from, how do you compare companies in order to make the best decision for your company and its employees?

Choosing the plan that costs the lowest, is one option, but the odds of receiving poor quality service from a company who is scrimping everywhere they can in order to provide cheap coverage is also more likely to provide shoddy service. They might pay low wages to their customer service representatives who are more likely to be untrained and less concerned about the customer on the other end of the line. They will probably use towing companies who may not have the best drivers or up to date equipment. The saying is often true: you get what you pay for.

So how do you find the plan that offers the best value and will cater to your budget without compromising on service?

Compare all services provided by each company. Which services are the most important for your company's needs? What is the mileage limit for towing? If you or your driver has to be towed over that limit, what is the charge? Lockout service: What is the amount that will be covered if keys need to be retrieved from the company vehicle? Does the plan cover tire exchange and battery service (jumpstart)? Does the plan cover fuel delivery if a vehicle runs out of gas, and how much fuel will you receive? Are the number of service calls limited per year? If so, how many doe you get? Does the company offer trip and routing service? What is the average response time when an emergency occurs? Call the company's emergency assistance number. How long does it take before you reach a live person? Is the representative friendly, knowledgeable, and willing to answer any of your questions? Search online reviews to determine the quality of service that the company's past and present customers have received.

The time it takes to assure that you'll be covered by the best commercial roadside assistance plan, is well worth the effort. It can save you money as well as help to ensure your employees are safe should a company vehicle become disabled.

By finding the right roadside assistance program for your commercial vehicles, you'll be setting up your company, and its employees for greater success.


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