Selecting Travel Agency Insurance


new york travel agency

If you run a New York travel agency and you are planning to do business in the Big Apple, you are likely already aware that you will have to carry certain business elements with you. This might be for such things as employee licenses and/or liability insurance. However, many new agents do not know that more needs to be carried beyond the employee and liability insurance. Many of the other items that are often required in a New York travel agency include non-owned cars and non-owner buses. While carrying these additional items may benefit some agents, it does mean that they have to increase their premiums on the business owner’s policy.

New York travel agency insurance provides a number of different types of benefits for owners of both non-owned and owned vehicles. Most owners will find that commercial auto and liability insurance protects them when they are on the road. When you have a motor insurance policy, you are covered for any damage you or your passengers may incur in an accident. This typically includes damages that occur due to the insured’s negligence, so long as the vehicle was legally insured at the time of the accident.

New York Travel Agency

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Non-owned car insurance requirements vary from state to state, but many states require business owners to have commercial auto coverage. In addition to being protected against accidents, this type of policy provides protection if the vehicle is stolen. In the past, it has been known for someone to steal a company vehicle, only to find out that it had substantial damage or that it was completely ruined. In the case of non-owned cars, this can be prevented if the owner has purchased the commercial auto insurance requirements before he/she starts his/her business.

When it comes to the types of covers that are required for owners of New York travel agencies, many people do not realize that there are different types of policies. There are two common types of coverage: bodily injury and property damage. Bodily injury may not seem like the most important of concerns, but it is. If someone is injured in a traffic accident caused by your company’s negligence, this could lead to permanent physical damage. As well, if you are hit by a non-owned vehicle that is carrying freight, your business income could be seriously affected by these types of exposures.

Important Consideration

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Property damage is also very important for many retail businesses, especially when they have outlets on the street. For example, if a customer trips over a glass from a broken bottle, this could cause serious injuries, either minor or fatal. This would then result in your having to pay for the replacement of all damaged items. While bodily injury and property damage are important for retail businesses, these two insurance coverage types are often neglected by many business owners. This is because non-owned vehicles pose less of a risk for business-related exposure, and therefore, the business income that they bring in should not be weighed less than the income brought in from retail outlets.

The third type of coverage that you need as a New York travel agency owner is professional liability insurance. If a customer feels that he has been harmed by a professional that is employed by your travel agency, he may be able to sue you. As well, this type of coverage can also protect you against damages that may occur from advertising in a way that is defamatory of another party. If your business is sued because of defamatory ads, the result could be serious financial losses; therefore, it is important to purchase professional liability insurance.

Types Of Coverage

The fourth type of coverage that you need as a New York travel agent is commercial auto insurance. Suppose you work with non-owned vehicles on a regular basis. In that case, commercial auto insurance is necessary in order to protect you against any liability that can result from personal injuries that you may sustain while riding in an owned vehicle. Many people that drive non-owned cars do not carry a lot of liability insurance; therefore, they expose themselves to a great deal of personal injury if they injure someone else during a drive. It can also be extremely financially devastating if one of your customers is seriously injured or killed in a non-owned vehicle because you could not carry commercial auto insurance.

Conclusion

In short, having a travel agent business is something that can benefit you greatly, regardless of whether you own your own agency or not. If you want to expand your business and have other people work for you, there is a lot that you can do to reduce the amount of money that you need to pay in order to provide good service. Insurance is a huge part of operating a successful travel agency business; therefore, you should definitely think about purchasing insurance to protect your own assets and those of your customers. Remember, having the right policy is very important when it comes to being a successful New York travel agent. Remember, you will always be working with very important clients; therefore, making sure that they are well protected is imperative.

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