Montana Propane And Fuel Dealers Insurance Policy Information
Montana Propane And Fuel Dealers Insurance. If you supply and deliver propane or other types of fuel to homeowners and business owners, you are doing more than just supplying your customers with the fuel that the need to power their properties; you are also making sure that they have they have something that they need to remain comfortable and function properly. Your company serves a vital role in the role of owning a home or a business.
Fuel oil dealers distribute liquid heating oil to residential or commercial customers. They may also deliver kerosene or propane. Firms typically deliver fuel to established customers with whom they have a contract stating specific responsibilities and duties. Drivers may deliver directly to customers on their routes, or they may first pick up the fuel from a separate distribution point. Drivers may also have some responsibility for collections.
While your business is vital because it meets the specific needs of your clients, there are also key risks that are involved with being a propane or fuel dealer. Propane, gas, oil, kerosene, and other types of fuels are highly combustible and can start a raging fire in no time. They can also do extensive damage to a property if they leak during a delivery or if a delivery truck becomes compromised. Plus, you also need to consider the safety of your employees.
Given the risks that are associated with operating a propane or fuel dealership, it is vital that you protect yourself, your clients, and yourself from any perils that may arise. The best way to do that is with the right Montana propane and fuel dealers insurance coverage.
Montana propane and fuel dealers insurance protects your business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.
What Type Of Insurance Coverage Should MT Fuel Dealers Have?
There are a few different types of insurance policies that MT propane and fuel delivery companies should carry. Each policy provides coverage for specific risks that are associated with running this type of business. The most important insurance policies a company in this industry should have include:
Commercial General Liability: Your company interacts with various people on a regular basis, such as vendors, clients, and contractors. If someone suffers an injury or somebody's property is damaged and your company faces a lawsuit as a result, commercial general liability insurance will offer you the protection you need. This type of policy covers things like personal injuries and damaged property.
It will cover the legal costs, medical costs, and replacement costs that are associated with any claims. It will also provide coverage if your company damages someone else's property while a delivery is being made; the truck hits a mailbox or a fire breaks out, for example.
Business Auto: If you are in the propane or fuel supply business, you rely on your vehicles to make deliveries to your clients. What happens if an accident involving one of your vehicles happens and someone is injured, property is damaged, or your truck is totaled? A MT commercial auto insurance will provide coverage for any mishaps that may occur with your company vehicles so that you don't have to pay damage, repair, or replacement costs out of your own pocket.
Workers' Compensation: You count on your employees to take orders, deliver your products, and offer stellar customer service. They count on you to provide them with the protection that they need in the event that an accident happens on the job. Workers comp will provide your employees with the financial coverage they need should they be involved in a work-related accident or develop a work-related illness.
It will cover the cost of medical care, lost wages, job placement assistance if the employee is rendered unable to return to work with your business. It also offers compensation for the survivors of a worker should death be the result of a work-related accident or illness.
These are just some of the types of Montana propane and fuel dealers insurance coverage you should carry. Following is a list of some additional coverages you can get:
- Fuel dealers automatic fill endorsement
- Fuel dealers property extension
- Misdelivery of liquid products
- Missed delivery coverage
- Pollution coverage for spills or leaks
- Unloading and loading coverage
To learn exactly what types of insurance policies your company needs, it is important that you speak with an agent that understands your risks.
What Is The Cost Of MT Fuel Delivery Insurance?
There isn't a definitive answer to this question. The cost of insurance coverage will vary from company to company, and provider to provider. Several factors, such as the size of the business, the type of clients you serve, and the fuels that the company works with are all taken into consideration when determining the cost of insurance. Again, an agent that is associated with a reputable insurance brokerage will be able to determine how much your coverage will cost.
Commercial insurance coverage is important for a propane and fuel delivery company. Make sure that you protect yourself, your business, your employees, and your clients with the right type of coverage.
Montana Fuel Oil Dealers Risks & Exposures
Premises liability exposure may be limited if there is no fuel storage on premises and no customer visits. If fuel is stored on the premises, fire, smoke, fumes, and vapors may spread to neighboring properties. There may be an attractive nuisance hazard with tank storage in the yard that must be controlled with fences and other barriers to prevent unauthorized access.
Contractual liability exposures may arise from keep-fill or automatic delivery contracts. If a driver fails to deliver the product as agreed, the customer may sue the insured for resulting damage to the home or business, such as the bursting of water pipes due to lack of heat in a building during subfreezing weather. Other off-premises exposures occur when fuel oil is spilled at the customer's location, delivered to the wrong location, or delivered into the incorrect receptacle.
Products liability exposure is limited due to the standards and controls in the grading and content of fuel oil. The customer's furnace could be damaged if contaminated fuel or the wrong grade of fuel is delivered. Hazards increase if tanks are not regularly cleaned, especially following a change of fuel formula.
Environmental impairment liability exposure is high due to the potential for contamination of air, surface, or groundwater, or soil from spillage or leakage of storage tanks or the collision or overturn of transporting vehicles. All storage and disposal procedures must meet federal and state regulations.
Workers compensation exposures are very high from the filling of tanks and trucks and the transport of the fuels. Employees who pump or deliver the heating oil may develop respiratory ailments as a result of cumulative exposure to hazardous fumes. Severe burns may result during a collision or overturn of the vehicles. Lifting and pulling hoses can result in back sprains and hernias. Cuts, puncture wounds, foreign objects in the eyes, slips and falls can develop from the repair and maintenance of vehicles.
Property exposure consists of an office and material, equipment, and vehicle storage. Fuels improperly stored on premises can result in fire and explosion. All storage tanks should be well maintained, grounded, and operating correctly. Hazards are higher in the absence of proper controls including separation of storage tanks to limit chain reactions and dikes to control spills.
If repair work on vehicles and equipment is done in the building, there will be other flammables including lubricants, oils, degreasers, and solvents, increasing the fire hazard. These must be properly labeled, stored, and separated. Equipment and supplies stored in the yard can be damaged by wind, vandalism, and theft. Cleaning agents used to remove residue from tanks may be combustible. Due to the high demand and cost of fuels, theft can be a problem. Alarms, guards, fencing, and other security precautions must be in place as appropriate to the location.
Equipment breakdown exposures include breakdown losses to the building environmental control systems, electrical control panels, and other apparatus. If there is any refining or processing, breakdown, and loss of use to the production machinery, it could result in a significant loss, both direct and under time element. Replacement parts may be difficult to obtain on a timely basis.
Crime exposure is primarily from employee dishonesty. Background checks should be conducted on all employees handling money. There must be a separation of duties between persons handling deposits and disbursements and handling bank statements. Other hazards include money and securities if cash payments are permitted in the office or to drivers. Receipts should be issued for any cash payments received. Fuel oil may be a target for theft by employees or third parties. Physical inventories should be conducted at least annually.
Inland marine exposure is from accounts receivable if the dealer offers credit, computers, goods in transit and valuable papers and records for customers' and suppliers' information. Fuel oil can be hijacked, spilled, or it can ignite during a collision. Backup copies of all records, including computer records, should be made and stored off premises.
Commercial auto exposures can be high due to the ongoing transport of fuel oils. Collision and overturn can cause significant personal, property, and environmental losses, particularly if spill controls and procedures are not implemented. Delivery in rural areas may necessitate regular travel over uneven terrain or in inclement weather. Hazards may increase if routes are irregular or if drivers often deliver to unfamiliar areas.
Drivers must be experienced with commercial licenses and have acceptable MVRs. Any drivers with an Haz-Mat license should be regularly tested on tanker handling. Random drug and alcohol testing should be conducted. All vehicles, especially tankers, must be inspected regularly with maintenance logs updated and retained for documentation.
Montana Economic Data, Regulations And Limits On Commercial Insurance
Thinking about starting a new business? Already own a successful business and want to expand your operations? Whatever the case may be, if you want to experience as much success as possible, you are going to want to ensure you choose the best possible location for your specific industry.
No matter how outstanding your goods and services may be, if the area where your business is located doesn't offer a healthy climate that will support your company, chances are you'll struggle to succeed.
If you are thinking about opening up a business in Montana, being familiar with the state's economic trends can help you determine if it's a good location for you. It's also wise to know what type of insurance you'll need to invest in so that you can plan ahead.
With that said, below, we provide an overview of the economic trends in the state of Montana, as well as the commercial insurance requirements for business owners in the Treasure State.
Economic Trends For Business Owners In Montana
As of December, 2019, the Bureau of Labor Statistics reported that the unemployment rate in the state of Montana was 3.4%; that's 0.1% lower than the national average, which was 3.5% at the same time. This rate remained steady throughout the entire 2019 fiscal year, and it is expected to either continue remaining steady or improve in coming years, according to economists.
Unemployment rate is a vital statistic for business owners, as it indicates the job market of a location, which is a strong determining factor in the success of businesses in the region.
There are several areas throughout the state of Montana that are seeing economic booms and where businesses are flourishing. Among those locations include the following cities and the areas that surround them:
- Great Falls
Several industries are seeing substantial growth in MT; however, there are particular sectors that are really thriving in Montana. Among those sectors include:
- Advanced manufacturing
- Hospitality and tourism
- Information technology
- Oil and gas production
- Retail development
If you are considering opening a business in any of the above-mentioned areas, your chances of success in Montana are favorable.
Commercial Insurance Requirements In Montana
The Office of the Montana State Auditor, Commissioner of Securities and Insurance regulates insurance in MT. Montana mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Montana requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Montana also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Contractors & Home Improvement Insurance
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
- Air Conditioning Systems Installation Repair
- Appliance Repair & Service
- Blacksmith & Metal Workers
- Boat Repair & Dry Docks
- Boiler Contractors
- Builders Risk
- Building Cleaning & Maintenance Services
- Cabinet Installer
- Cable And Satellite TV Installer
- Chimney Sweep
- Cistern Contractors
- Contractor Liability
- Curtain Cleaners
- Deck Builders
- Door And Window Installers
- Dryer Vent Cleaning
- Drywall Contractor
- Electrical Contractors
- Environmental Remediation Contractors
- Fence Installation
- Fire Sprinkler Contractors
- Fire & Water Restoration Contractors
- Flooring Contractor
- Furniture Repair
- Garage Door Installer And Repair
- General Contractors
- Glass Contractor
- Glazier Insurance
- Gutter Installation And Repair
- House Cleaning
- HVAC Contractor
- Insulation Contractor
- Janitorial Cleaning Services
- Lawn Care
- Lawn Irrigation Sprinkler System Installation
- Oil And Gas Well Drilling Contractors
- Paperhanging Contractors
- Plastering And Stucco Contractor
- Pressure Washing Contractors
- Propane And Fuel Dealers
- Rug, Upholstery & Carpet Cleaning
- Sandblasting Contractors
- Security Alarm
- Septic Tank Cleaning
- Siding Contractor
- Sign Installation & Repair
- Solar Panel Installers
- Snow Plow
- Stone And Tile Installer
- Surety Bonds
- Swimming Pool Contractor
- Swimming Pool Service And Maintenance
- Tool Grinding And Repair
- Tree Surgeon
- Tree Trimming
- Tank Cleaners
- Upholstery Shop
- Waste Haulers & Garbage Collection
- Water Well Drilling
- Welding Contractor
- Wildlife & Pest Control
- Window Cleaning
A contractor that wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Physical damage coverage for tools, supplies and equipment, both on and off the contractor's premises, is a concern. Liability exposures at the premises of the contractor, and at the premises of the contractor's customer, must be properly addressed along with completed operations. Business insurance is very important as is workers compensation insurance protection for employees.
Contractors may work under a general contractor as a subcontractor in larger construction projects - like a new commercial site or residential subdivision. They can work on smaller projects directly with a home owner, usually specializing in renovations or remodels.
In business insurance speak, often called 'artisan contractors' or 'casual contractors', they are involved in many aspects of construction and contracting work – and include various trades and skills. Carpenters, painters, plumbers, electricians, roofers, tree trimmers, landscaping are just a few examples. They may do roofing, fencing, drywall, tile work and many other trades that involve skilled work with tools at the customer's premises.
An artisan contractor performs a single trade or job, and each has its own specialized liability needs with its own exposures to risk and accidents. Contractors liability insurance can offer coverage for bodily injury, property damage, advertising injury and medical payments.
Most artisan contractors should have commercial general liability at the very least, but many need broader coverages - like an umbrella to increase their limits of liability, inland marine policy to protect their tools, workers compensation if they have employees, and even commercial auto if they use vehicles for business purposes.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.
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Also find MT local small businesses by General Liability Class Code and learn about Montana small business insurance requirements for general liability, business property, commercial auto & workers compensation including MT business insurance costs. Call us (406) 637-8400.