May 10, 2023

Most Common Insurance Policies for Last Mile Insurance

Van and truck owners who do last-mile deliveries in California face numerous risks. For instance, vehicles in parking lots are targeted by vandals looking for a quick kill. A theft and vandalism incident often results in lost items, vehicle damages, and injuries. That’s not all—players in the industry face other risks, including accidents, poor road conditions, and human limitations. They, therefore, need last-mile insurance to protect their vehicles, reputation, and business from unforeseen risks. Consider acquiring commercial car insurance to shield your business from unforeseen risks and events. Discuss your options with an insurance professional today. Below are the common insurance policies for last-mile insurance.

Worker’s Compensation Insurance

Employers are legally obliged to provide a safe working environment for workers. Despite the numerous measures to prevent injuries and illness, accidents happen. Fortunately, workers’ compensation insurance protects employees and employers in case of loss. First, it assures injured or ill workers of receiving medical care. Alternatively, it can pay death benefits to the deceased’s beneficiary. It also compensates employees for the income lost while they were not working. Lastly, worker’s compensation insurance protects employers from the cost of lawsuits related to workers injured while working.

Cargo Coverage

As a last-mile provider, you are legally obligated to deliver the cargo safely. Unfortunately, there’s a possibility that your cargo will be damaged in transit. You, therefore, need cargo insurance to protect the goods you’re transporting from collision damage, theft, and other road hazards. Many incidents could occur during transit, and you could lose money if you are uninsured. If the truck is involved in an accident, the goods might be destroyed or stolen. Many unforeseen incidents lead to loss of profits, sales, and reputation. Fortunately, you can minimize the impact of such incidences on your business using cargo coverage.

Auto Liability Coverage

In an at-fault accident, auto liability protects vehicle owners from two types of costs; Injuries to other parties and damage to other people’s property. Auto-liability coverage can pay the following expenses in case of an accident;

Lawsuit and court fees
Damaged property, including walls, fences, signposts, guardrails, and mailbox
Medical expenses for injured drivers, passengers, or pedestrians
Damage to other cars

Commercial General Liability

You’ll also need a Commercial General Liability(CGL) to protect your business against financial loss related to bodily injury, property damage, and false advertising. In a nutshell, CGL casts a wider cushion of protection for you and your business against various liabilities. For instance, if a non-employee is injured in your delivery truck, CGL offers a quick and convenient way to deal with the medical payment. It can help pay the associated medical bills without the need for litigation.

Speak to an Experienced Last Mile Insurance Agent

If your delivery truck is involved in an accident, you stand to lose big time. If uninsured, you might be called upon to pay medical expenses to victims, the cost of replacing damaged property, and lost wages. Fortunately, you can protect your finances by buying a last-mile insurance policy. At Panorama Insurance Agency, we’ve been in business near Northridge, CA since 1973, making us highly experienced and knowledgeable on insurance matters. Contact us online or call us at 818.781.6630 to request a quote.

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