Vending machine operators maintain a various types of vending machines that may hold candy, snacks, drinks, or even small gifts. Responsibilities of a vending machine operations business includes choosing locations for new vending machines as well as being sure their existing machines are full, and checking the machines on a regular basis to remove the coins from the vending machines. It can be a very profitable business when you choose the right location and offer a variety of items. There are also risks associated with being a vending machine operator; injuries can be caused due to how heavy the machines are, along with the risk of theft or vandalism of the vending machines. Protect these and other risks by purchasing adequate vending machine operations insurance.
Types of Vending Machine Operations Insurance
As a vending machine operator, you have a number of insurance policies to choose from. Each listed policy will cover different risk exposures associated with business in general and for vending machine operators in particular.
The most recommended and comprehensive business insurance policy for vending machine operators is general liability insurance. General liability is going to cover a wide variety of risk exposures including property damage, personal injury, legal claims, and damage fron natural disaster or extreme weather conditions. For example, if one of your vending machines falls over and destroys the property of the business it was located at, you will be responsible for the damages caused by the machine. Instead of paying for these costs out-of-pocket, you can get coverage with your general liability insurance policy.
If your equipment or goods are damaged while in storage or being transported, how will you cover the losses? What if something is stolen from your company vehicle while you are loading a vending machine indoors? These types of instances can actually be covered by insurance with a policy called Inland Marine. Inland Marine insurance is in place to protect businesses who provide services, such as vending machine operators. The next time you visit a job site, you will feel more protected knowing you have this additional coverage.
A good portion of your job as a vending machine operator deals with driving to sites where you have vending machines to load and unload them, as well as moving new vending machines to their location. Since you’re using a vehicle for business purposes, it should be covered by commercial auto insurance. Commercial auto offers protection against damages incurred during an accident with the company vehicle, including personal injury and damage to the vehicle itself. Many commercial auto insurance policies will also cover other instances relating to the vehicle, such as damage from vandalism, and theft of contents.
Most US states require businesses to have worker’s compensation insurance if they have employees. If your vending machine operations company has at least one employee, they should be protected by worker’s comp. This type of insurance is in place to protect your staff in the event that they become injured or ill while performing their normal work duties. For workers who are handling vending machines, they are at risk for bodily injury, especially if they are loading or unloading machines. If an employee receives an injury due to their work, whether it is a back injury they got over time, or a machine fell over on them; the medical care, treatment, and lost income is going to be covered under worker’s compensation.
Vending machine operations insurance exists to protect your business assets, employees, and the vitality of your business. Protect the hard work and money you have put into your company by obtaining business insurance that will cover your various risks.