Business Insurance Bad Luck Cases 1 And 2 (Millburn, New Jersey)

What insurance does a small business actually need? Much of a business's success depends on how well it can overcome obstacles. Our agency is here to help guide you through the perils that you likely don't anticipate. Let's take a look at some examples of these perils through Acme Inc.

Bad luck case number one. Members of the Acme Inc team had been working hard to finalize a sales proposal that was to be presented the following day. Upon completion, they were annoyed to see that the printer was out of ink again. In an attempt to save the day, Julie and Colleen hopped into Julie's car to rush to an office supply store for new cartridges. In her haste, Julie hit another car while she was texting her husband that she'd be home a little late. The other driver and passengers were injured and their car was totaled. The lawsuit that followed targeted Acme because Julie was acting on behalf of the company when the accident occurred. The hefty legal and judgment costs would have been covered by hired and non-owned auto liability insurance up to purchased policy limits.

Bad luck case number 2. During the previous litigation, it was discovered that Colleen wasn't an employee of Acme Inc. She was a 1099 contractor. She was contracted initially to consult on a project, but she did so well it developed into a full-time situation. Although Julie only had minor injuries from the car accident, Colleen in the passenger seat was badly injured and had a long recovery. Acme had workers' compensation insurance that covered Julie's expenses, but not Colleen's. The state identified that Acme had misclassified Colleen, and she should have been classified as an employee. This led to hefty penalties for acne, and they also ended up needing to pay Colleen's medical costs and damages from the lawsuit she later filed. Can you see how some variation of these examples could be applied to your business? Overwhelmed? No worries, we'll guide you through the types of policies that best fit your specific business and what limits make the most sense for each.

We’d be happy to review your insurance coverage options with you! Give us a call at 973-376-1514 or visit www.rbrucehillagency.com