Do your employees drive as part of their daily work duties? Whether you have delivery drivers or just send employees on errands, your drivers need extensive car insurance coverage.
If your employee gets into a car accident on the clock, you’ll be liable for damages and injuries if your employee caused or contributed to the accident. The other driver could sue your employee directly, but when they realize the other party was on the clock, they’ll probably sue you instead.
When your employee gets into a car accident with an underinsured driver, and the accident is not your employee’s fault, you’ll be left to pay for company vehicle repairs out of pocket if you don’t have the right insurance coverage. If your employee was driving their own car, they’ll be responsible for the physical damage.
To cover yourself and your employee in a car accident, here’s why you need more than just a standard car insurance policy. You also can’t rely on workers’ comp to carry you through an auto accident situation.
Workers’ compensation insurance won’t cover property damage or third-party injuries
Unfortunately, workers’ compensation will only cover your employee’s injuries in a car accident. If your company vehicle is damaged or totaled in an accident, you’ll be paying for repairs out of pocket.
Workers’ comp won’t save you from lawsuits, either. If someone involved in the crash decides to sue your company, you’ll end up with some hefty bills. If you’re found liable for injuries to someone other than your employee, and you don’t have the proper coverage, you can expect to watch your bank account get drained paying for their medical bills.
Having workers’ comp is essential, but it’s not enough when dealing with a car accident. If your employees drive company or personal vehicles, every driver needs higher limits for the following coverage:
- Underinsured/uninsured motorist coverage. Having employees drive on the clock is risky. Even great drivers can get hit by other people, and if they don’t have insurance, the damage won’t be covered. That’s why you must carry underinsured/uninsured motorist coverage.
If you reject higher coverage for underinsured/uninsured motorists, you could leave an injured employee hanging. That’s what happened to a Verizon employee when they tried to file a claim after being hit from behind at a traffic light. Verizon had rejected higher coverage amounts, but nobody knew the coverage had been rejected. Had the employee known, he would have purchased his own additional coverage. The court ruled in favor of the employee, stating he should have been notified of the rejection.
- Collision coverage. This coverage will help pay for the cost of repairs to the vehicle. Either your employee needs to carry this coverage or you need this coverage for your company vehicle.
- Liability insurance. This coverage helps pay for property damage and injuries to third parties when you’re at fault. If your employee causes a car accident, this coverage will help pay for damages. This coverage should be a non-negotiable condition of employment for all drivers.
- Comprehensive insurance. This coverage pays for damage to a vehicle that isn’t caused by a collision. If you’re going to hire employees to drive, they need to carry comprehensive insurance.
Say your employee parks their car while performing their job duties, and someone slashed their tires. Your employee might end up suing you for the damage. Don’t risk it – require all driving employees to carry comprehensive coverage.
- Hired and non-owned auto coverage. This will provide coverage after your employee’s personal coverage is exhausted.
If you’ve opted out of workers’ compensation, your financial liability is huge
You might have opted out of workers’ comp, and if so, you’re not alone. Some states don’t require employers to carry workers’ compensation insurance. For example, holding a policy is optional for most businesses in Texas. However, if you’ve opted out of carrying workers’ comp, your liability is huge.
If your employee gets injured in a car wreck and you don’t have workers’ compensation, and your auto insurance policy isn’t enough to cover their injuries, you’ll be paying out of pocket.
Workers’ comp was created specifically to allow injured employees to get compensation for their injuries without clogging up the legal system. The entire scheme is pro-employer. It’s a no-fault system where employees are covered even when they’ve contributed to or caused their own accident.
Not having workers’ comp will turn out to be a bad choice if an employee gets injured in a car accident on the clock. The biggest risk is getting sued in a personal injury lawsuit.
If your employees drive, get extensive coverage
When selecting your auto insurance coverage options, get higher coverage whenever possible. Whether your employees drive their personal vehicles or your company cars, you can’t afford to be without extensive coverage.
This Canadian Entrepreneur Tells Us The Highs and Lows of Running A Successful Hemp Company
East of Toronto lies a Canadian hemp company called The Hemp Spot which offers over fifty plus products.
CEO and founder, Jacob Moore started the company in 2018. Moore’s interest in hemp began when he was looking for a healthier protein product that would help with recovery and pain remedy. Moore has an autoimmune disease called Ankylosing Spondylitis, which can cause some of the small bones in someone’s spine (vertebrae) to fuse. This can cause less flexibility and can result in someone having a hunched posture.
His discovery of hemp protein helped with the pain however, he realized there were not a lot of Canadian hemp products readily available. Knowing there might be others who were also suffering from joint pains or who were looking for safer, healthier options to help with recovery, Moore created The Hemp Spot.
“We are your local one-stop-shop for all things Canadian hemp. We have a variety of Canadian hemp products supplied by various Canadian hemp farmers and small Canadian hemp businesses,” said Moore.
Even though Moore found a natural product that would help many Canadians, he faced
numerous obstacles to get his business started. Banks gave Moore a hard time because of the misconceptions and stigmas surrounding hemp. Banks deemed hemp as marijuana. Although growing industrial hemp has been legal since 1998.
“When hemp was grouped in with marijuana it was declared an illegal substance. Slowly people began to ignore the benefits for the environment and for themselves. Till this day many people believe hemp is marijuana and has a high amount of THC,” said Moore.
To clarify, hemp comes from the same species of plant as cannabis however, it has lower levels of tetrahydrocannabinol (THC) compared to cannabis. The first license to grow industrial hemp for commercial purposes in Canada was issued in May 1998. Unlike its sister plant (cannabis) hemp takes around 90-120 days to grow, compared to four to eight months growth time for cannabis.
Moore continues to have problems advertising his company online because social media platforms such as Facebook bundle hemp with marijuana under their advertising regulations. As of 2019, Facebook has made some adjustments to their advertisement laws, which allows hemp companies in the U.S. to promote their businesses, as long as they’re promoting non-ingestible hemp.
“It may say hemp companies can advertise on Facebook/social media but hemp companies (in Canada) like myself are not allowed to promote, even when we try to promote our Hemp Face cloths. I’ve been flagged for selling illegal substances. I wish we were allowed to advertise however, we’re not able to,” said Moore.
Similar to advertising companies, Moore had to prove to banks that hemp was not a marijuana product. Nonetheless, Moore’s resilient spirit has allowed him to mount a thriving business and also to educate the public.
His company has helped many Canadian hemp farmers. Hemp expels four times more carbon dioxide than trees, and helps reduce greenhouse gases in the air. “We want everyone to experience hemp for all that it is; to utilize it as a food supplement, to clothe ourselves, to help transportation grow, and to help shelter families,” said Moore.
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