Fuel dealers sell and deliver fuel, such as automotive gasoline, fuel oil, propane and kerosene, to commercial establishments and homes. They are responsible for ensuring a safe and timely delivery to their customers. A disaster within this business setting can result in extremely expensive damage, so it is imperative that you protect your businesses with a suitable fuel dealers insurance portfolio. When building this coverage package, there are many exposures you need to keep in mind.
Your business will need to cover a lot of property including the building in which you house your business, your business property, any vehicles you use commercially and the fuel itself while it is in your care, custody or control.
Any disaster that involves fuel has the potential to be extremely expensive. As a fuel dealer, you face a number of potential liability lawsuits that could bankrupt your business if you do not have the right liability coverage.
General liability insurance is included as part of most commercial insurance policies. It provides your business with compensation for legal defense fees, court costs and financial damages for many, but not all, potential liability lawsuits. Some liability exposures, however, must be covered by specific insurance coverage as listed below.
Your business is also responsible for covering medical treatment for injuries your employees may suffer while on the job. Workers' compensation insurance provides coverage for this care. It is required in most states.
Commercial insurance policy portfolios provide a wide range of coverage. In addition to the property and liability insurance mentioned above, there are other coverage types that may be beneficial to your company. Some of these include the following:
Be sure to speak with your independent insurance agent about how your business operates so that together you can identify and cover your various exposures.
As a fuel dealer, building the right commercial insurance coverage portfolio can be a complex endeavor, particularly if you are going about it on your own. Independent agents in the Trusted Choice® network can simplify this process. Your agent can help you determine your many exposures and can help to identify gaps that may exist in your coverage so that they can be remedied. These agents can work with a variety of insurance companies to build you an appropriate coverage portfolio at a competitive rate. Speak with a Trusted Choice agent near you to learn more about your fuel dealers insurance coverage options.