Is my employee covered by my Mastic, NY commercial auto insurance policy when he uses his own vehicle on the job?

When your employees use their own vehicles for business purposes in Mastic, New York, typically they are covered by their personal auto insurance policy. This is a fairly common issue, but tends to generate confusion with many business owners.

In most cases, employees using their own vehicles for business tasks are covered by their personal auto insurance policy, not your commercial insurance policy. There is one significant exception, however.

Should your employee be transporting goods, office items or people for a “fee,” the employee’s policy seldom cover losses. Legally called "livery," similar to taxis, employees transporting items or people–and receiving a fee–invalidate their personal auto coverage.

If your business involves delivering things, such as packages, flowers or pizza, employees using their own vehicles may not be covered by their personal auto insurance. Talk to your independent agent, as your staff may also not be covered by your commercial policy, as written, since their vehicles are not owned by your company.

Fortunately, employees using their autos for routine business tasks should be protected up to the limits of their personal car insurance policy. General business usage, such as running to get office supplies, occasional customer visits or attending seminars, should keep your staff covered by their insurance, not yours.

Simple errands, like picking up lunch for the office, also should not pose employee coverage problems. However, rare or occasional use is different from employees driving their personal vehicles regularly, such as sales persons using their cars daily to call on customers.

Ask your independent agent if your coverage includes "non-owned" autos, which protects your company if an employee, has an at-fault accident while using his or her own vehicle. Whether you have company-owned vehicles or not, you should have this coverage.

Contact us, your independent agent in Mastic, New York, to be sure you’re properly protected for liability losses caused by employees when driving their own vehicles for business purposes. We’ll explain what protection you have, along with suggesting additional coverage if you need it. Since we work for you, not one company, we’ll give you the best advice for your business to keep it protected at all times.

Are there any guidelines to be followed after a business loss has occurred in Selden, New York?

When you suffer a loss in Selden, New York covered by your commercial insurance package, you should consider these guidelines. Contact your independent agent, as we can help you follow claim guidelines specified by your business insurance carrier.

Business or Income-Producing Real Property Losses

In the event of a total loss of your property, use the following formula to estimate the reimbursement.

· Calculate the adjusted basis of the property on your books. This includes the purchase price plus any improvements you’ve made, MINUS

· Best estimate of salvage value, MINUS

· Any other insurance coverage or reimbursement you expect from a third party.

To avoid tax consequences, you must reinvest your insurance reimbursement in similar property. If your commercial property is destroyed by a natural hazard, leading to the federal government to declare the location as a disaster area, you’ll have more liberal reinvestment rules, possibly even qualifying for a local or federal grant.

Business Interruption Coverage

Understand a potentially important difference in the purpose of the reimbursement. The language in your business interruption policy should specify the guidelines you must follow and may identify the nature of your company’s reimbursement. Your insurance payment will compensate you for one–or both–of the following reasons.

· Replacement of lost profits. This compensation is taxed as ordinary income to your company.

· Reimbursement for lost use of your property. This compensation may equal a "recovery of capital" lost in the covered damage. Replacing lost capital is not a taxable gain unless you receive more that the adjusted cost basis of your property.

In all cases, contact your Selden, New York independent agent to be sure you follow all insurance company guidelines when you suffer a loss covered by your commercial package. We’ll help you comply with all claim submission guidelines.

Since we work for you, not your insurance company, we’ll help interface with the claims department on your behalf. Should you consider changing your commercial coverage, we’ll give you multiple online quotes for different policies and advise you about the best choices for your situation.

I am Currently Having a New Home Built in Selden, NY and I am Insuring this Under the Homeowner Policy. The Homeowner Policy Includes an Exclusion for Theft of Building Materials Prior to the Completion and Occupancy of the Home. Is There a Way to Cover Theft of These Building Items?

If you are building a new home in Selden, New York, it is important to take measures to reduce the risk of theft. Depending on your homeowner’s policy, your building materials may not be covered if they are stolen. Fortunately, options are available to help reduce your risk of theft.

Basic Policy

The exception in your current policy is designed to limit the risk to the insurer. You may be covered to rebuild if a fire or similar situation arises, but you may pay the out-of-pocket cost of replacing materials if items are stolen before the house is completed.

Due to the exception, the current policy may not be the best option for your needs. The basic policy is not addressing all of your concerns, so it may be time to consider an alternative homeowners insurance plan.

Compare Options

Working with an independent agent can help you compare your insurance options and find a policy that does not limit your protection.

Although it may be possible to find an insurer who will cover the cost of replacing stolen building materials, most insurers will not cover personal belongings that are kept on the property until after the project is completed or it is possible to lock the doors and prevent thieves from entering the building.

A policy that does not allow you to make a claim for stolen building materials while you are working on a new house may not be appropriate for your needs. Contact us to talk to an independent agent to learn more about the coverage options that may be available.

RV Insurance And Auto Insurance in Selden New York Are Similar But Different

If you use your RV for vacations only, at a glance, RV insurance requirements resemble regular motor vehicle insurance. You’ll need the typical liability coverage, but if you live in your RV, insurance needs are a bit different. It morphs to homeowners insurance and you’ll need to have insurance coverage for other things such your personal items.

Liability Coverage

In Selden, New York, no matter what you drive, you need liability insurance coverage that pays for bodily injuries and property damage. For example, state laws require that you purchase insurance that covers a minimum of $25,000 for each person and $50,000 for each accident to pay for medical expenses. You’ll also need at least $10,000 to pay for property damage expenses.

No Fault

In New York, you need to carry at least $50,000 in no fault insurance coverage. With “no fault” coverage, your insurer pays for the expenses you incur in an accident — regardless of who is at fault. This means that the other driver can’t sue you for minor injuries resulting from an accident that you cause. Note, however, that the other driver can sue you if his injuries are serious.

Uninsured/Underinsured Motorist

Some vehicle owners drive without insurance coverage. Others have insurance, but not enough coverage to pay for your damages or injuries. For this reason, the state requires that you carry a minimum of $25,000 for each person and $50,000 for each accident for protection against uninsured/underinsured motorists.

Coverage for Your Motor Home

You might want to consider other coverage for your RV that might not be available in your automobile policy. For example, you might want to make sure you have “full-timer” coverage. Typically, this is liability coverage for your personal items and living expenses. Some RV insurance policies also include coverage for campsite expenses for which you might be liable.

At a glance, RV insurance and auto insurance might seem the same, but make sure you have adequate coverage. Contact our offices today and speak with an independent agent, who will make sure you have the coverage you need to protect your vehicle.