TRAVEL AGENcy Insurance
Whether you are an independent travel agent or you run a full service travel agency with multiple employees, you get to make a living with exciting, face-paced business activities. Much of your business revolves around meeting people and making their dreams come true. Seemingly small accidents or major catastrophes can bring your business to an abrupt halt however, particularly if you are unable to shoulder the expenses of recovering from those problems.
Small business insurance is a smart business investment that helps protect your business financially. It keeps your assets safe and protects you from the financial burden of accidents and disasters that may arise along the way.
General Liability Insurance
General liability protects your travel agency from bodily injury or property damages your clients may encounter at your offices. If a client catches their finger in the door while entering your office building for example, general liability will cover the resulting medical or hospital costs.
General liability protects you from potential damages that can arise from faulty products that you sell, or mis-understandings in your advertisements as well.
General liability is a comprehensive business insurance policy that is included as part of a Business Owners Policy, or BOP.
Business Owners Policy (bop)
A business owners insurance policy is ideal for small businesses such as your travel agency, because it is flexible enough to provide just the professional coverage you need.
A BOP covers physical business assets from damage and loss. Physical assets include your travel agent offices, additional business structures, the contents inside those structures and offsite business equipment as well.
Business owners insurance protects you from losses of furnishings and improvements you have made such as special interior decor. It also covers your agency in the event that you lose valuable papers or electronic data. If your computers are damaged due to an electrical short for example, or your critical papers are destroyed in a storm, a BOP will cover those losses.
Business owners insurance can also protect you from losses of intangible assets, such as your accounts receivable or income that your agency losses due to business interruptions.
Professional Liability Insurance
Travel agents are professionals, but they are human too. If you make a professional mistake when planning a client's travel arrangements, that mistake can cost your business tremendous amounts of money. If the mistake you make causes financial harm to your clients, professional liability insurance -- or errors and omissions -- can pay the client for the damages done.
Commercial Auto Insurance
Commercial auto insurance protects your company from losses due to auto accidents. If your company or personal vehicle is involved in an accident while using it for work, commercial auto insurance will cover the resulting losses. This protection can include coverage for rental and loaner vehicles as well. Depending upon the level of coverage you choose, business auto insurance will repair or replace damaged vehicles. It will also pay the medical and related care expenses for anyone involved in the accident, and it will protect your company from accidents involving uninsured motorists.
Workers Comp Insurance
If your travel agency has one or more employees, you are required by law to carry workers comp insurance for them. Workers comp pays their medical, hospital and medication expenses if they are injured or made ill while on the job.
Talk to one of our business insurance specialists today to determine how much of which types of commercial insurance coverage you need for your travel agent office.