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Having the right business insurance is no accident
Driving schools are a business that is fairly immune to economic problems. There are a steady number of children coming of age, and a percentage of adults who need to learn how to drive in this country as well. As the owner of a driving school, your focus is on keeping new customers coming in while keeping your existing students happy. Part of owning a driving school business also entails making sure your customers, employees and assets are protected as fully as possible. That’s why it’s important to make sure you have the appropriate levels of business insurance coverage.
General liability is commercial insurance that protects you in a broad variety of ways. It can protect you from risks that you planned for as well as unexpected events and hazards that weren’t previously considered. General liability grows with your driving school so that new locations and services are covered automatically as you add them. Key areas of commercial general liability insurance include:
General Liability Insurance Includes:
- Premises Liability - Premises liability insurance protects you from accidents that happen at your driving school. If a customer injures themselves by slipping on a wet floor for example, your premises liability coverage will pay for their doctor’s care or hospital visit when warranted. Likewise if a student’s property is damaged on your business premises – for example if another student driver runs into someone else’s vehicle – your premises liability coverage will pay for the repairs of the property that was damaged.
- Products Liability - Products liability protects you from problems that can arise due to products you sell at your driving school. It can also protect you from problems that arise due to your school's advertising practices. If, for example, your driving school runs a magazine advertisement that features the photo of a teenage boy and the photo does not have a proper model release, your company can be sued for using it. Your products liability coverage can help pay for the litigation expenses, pay settlements, and pay other damages or pain and suffering judgments.
- Completed Operations - Completed operations coverage protects your driving school when legal issues arise over operations that were completed in the past. For example, if one of your driving school instructors taught someone a driving technique that was later found to be illegal, that customer could be faced with fines or other legal actions due to what was taught to them. They may sue your driving school for these damages. Your completed operations insurance can help pay for the legal fees and costs associated with claims of this sort.
Business Owners Policy
General liability insurance is included with another type of business insurance known as a business owners policy, or BOP. A BOP focuses on providing you with commercial coverage for your tangible and intangible business assets. This insurance can be customized to fit the needs of your driving school, and may include coverage such as the following.
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
Business auto insurance protects your company from financial hardships caused by auto accidents. If you or one of your employees is involved in an auto accident while driving for business-specific purposes, your auto coverage can pay for bodily injuries, property damages and more.
Workers comp coverage is required by law in most states. This insurance pays to help your employees if they are ever injured on the job. If an employee is hurt in a job-related accident, workers comp will pay for their hospital, doctors, physical therapy and related medical expenses.
Commercial umbrella insurance provides you with extra protection above and beyond your other business insurance policy limits.