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R&R Insurance Blog

Do You Need Inland Marine Coverage?

Posted by the knowledge brokers

construction truck.jpgWithout inland marine coverage, your business’s personal property is not covered if it is being transported off site. A business’s personal property can include: machinery, equipment, stock, leased property, furniture, and any other property owned and used by the business.

For example, if you are a contractor and you transport tools and equipment between the workplace and job site, you will need an inland marine policy that covers contractor equipment.  Or, if you are a photographer and shoot on location, the photography equipment will need to be covered on an inland marine form. Basically, if you use equipment that does not stay at your premises, you may need to include it on an inland marine policy.

A business auto policy covers your vehicles, but what about mobile equipment such as a cherry picker, bulldozer, or even a golf cart? If you have mobile equipment that is not subject to compulsory insurance laws and used off public roads, it is not considered an auto. Therefore, you will need to insure that liability under your general liability policy and also insure it on an inland marine policy to cover any physical damage.

How can you determine what to insure?  Keep your agent informed. Let us at R&R know what you need insured and what you use it for. We will make sure that all your property has the appropriate coverage.

For more coverage information, contact a knowledge broker.


Topics: Business Insurance, coverage for business, Inland Marine

Are You Covered for Punitive Damages?

Posted by the knowledge brokers

Punitive Damages_Restaurant KitchenAre you aware of punitive damages? Do you know if they are excluded from your current insurance policy? Society Insurance recently released an article covering the basics of punitive damages and how not having the proper coverage can affect your business.


Society states that simply put, punitive damages are a monetary award given to a plaintiff for the sole purpose of punishing a defendant for wrongful acts. They are not awarded in every case; acting maliciously or having an intentional disregard for the rights of the plaintiff are reasons for such an award. Gross negligence is a factor.


Punitive damage awards are above and separate from normal compensatory damages a plaintiff receives such as medical bills, lost wages, pain and suffering, etc.


An article by the Milwaukee Journal Sentinel outlines a case in Wisconsin where a $100,000 award for punitive damages was upheld. It involved a restaurant customer finding hair in his steak that was put there intentionally by a cook. The lawsuit claimed the cook had done it before. The jury’s verdict was a punishment for the restaurant not taking corrective actions with the cook sooner.


Unfortunately for defendants, some insurance carriers have excluded punitive damages in their policies. To learn more about the proper coverage for your business, contact a knowledge broker at R&R.

Topics: Insurance Policies, punitive damages, Business Insurance, coverage for business