Mail Clerk Insurance – Cost and Coverage

Whenever you budget the expenses of your business, Mail Clerk insurance must be near the top of the list because you can’t always know exactly what can happen in the future.

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With the protection provided by general insurance and all the other types of insurance we will tell you about, you can protect your business and yourself in case something unforeseen happens.

Like any business owner, for your Mail Clerk enterprise, you must consider how much financial risk you are taking on.

Business Insurance for Mail Clerk

If your Mail Clerk business runs without proper insurance, you are taking an enormous chance not just of losing some money but of a final wipe-out.

This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the upshots of their actions. 

In this article, we are giving very general guidelines for small businesses to highlight what the main kinds of insurance that you need are, and where available, a rough guide to how much you can expect to pay.

The question is, can you afford to NOT have insurance for your Mail Clerk business?

What this means, for any Mail Clerk business owner, is that if some person claims that your business caused them some physical or economic damage, a court can award damages far beyond the total size of your business.

Your Mail Clerk business is not sheltered by laws in the same way as states are, where edicts can place a “cap” on the maximum level of liability.

In some states, like New Jersey, there are specific monetary levels that limit the amount a judge can award in any case against the state.

In a court case, it’s purely the right of the jury to award whatever amount they deem appropriate, even sometimes giving a person more than they have claimed.

When you are running your Mail Clerk operations, you can’t deny responsibility for the results of your actions.

Even more importantly, unless you have spent beforehand the money necessary to have your business running as an LLC, all of that liability belongs to you as a person.

What does Mail Clerk insurance protect you from?

For your Mail Clerk business, the most important kinds of insurance are intended to cover the risks to your business from accidents, from unexpected events, and from mistakes.

As well there are some official kinds of insurance that various states require.

In the next few paragraphs, we will describe the most important points any Mail Clerk business owner should consider when negotiating the insurance needed.

The main headings of insurance for your Mail Clerk businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any Mail Clerk business is dealing directly with members of the public, and that means you usually have the danger that some accident can happen to them personally or else something of theirs can be spoiled.

In such a case, they can demand compensation.

General liability insurance policy for your Mail Clerk business insures you against claims coming from injury to customers or damage to their property.

It protects your Mail Clerk business from the claims themselves and in addition to any follow-on court costs and legal fees of the lawsuits.

In many cases, it should help you to qualify for extra business from city and state organizations, where contracts insist on proper liability insurance.

The usual level of general liability insurance for your Mail Clerk business would be with a cap of $1 million for a single submission and a total of $2 million for the whole year.

See the table in the costing section below for average prices of general liability insurance for your Mail Clerk insurance operations.

Professional liability insurance for your Mail Clerk business

In the event where a customer alleges some negligence, errors, or omissions in how you conducted your Mail Clerk business for them, you can quickly be involved in a law suit.

Even if the matter against you is ruled in your favor, the cost of defense can be large, and the impact on your reputation can be damaging.

Every small Mail Clerk business should have enough professional liability insurance to cover a single claim of $25,000, with annual cover of $50,000.

See the table in the cost of Mail Clerk insurance section below for average prices of professional liability insurance for your Mail Clerk operations.

Product liability insurance

Whatever goods you sell or advice you give about the goods, you are running a risk that customers may claim that the results didn’t meet your description of function, or that your recommendation was basically incorrect.

You need to understand the particular laws of product liability in your own state.

For example, in California, all businesses in the supply chain can be held culpable for injuries caused by products claimed to be defective.

To cover yourself against any possible lawsuit, you need Product liability insurance for Mail Clerk

Only you can determine exactly how much insurance you need.

Best advice is to consult with experienced insurance agents, brokers or company representatives for support.

Commercial insurance

Commercial vehicle insurance for your Mail Clerk business

Be careful! – most policies for private vehicle insurance do not cover any happening like theft or accidental damage when the van is being used for business purposes.

The best way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a proper commercial vehicle insurance package.

Commercial truck policies insure the value of any vehicle in case of accident, malicious damage, fire, or theft.

In addition, in case of any accident, the truck itself, the content and any legal bills, medical expenses, and property damage is insured if your van is involved in a collision.

Most states, other than Virginia and New Hampshire, mandate this type of insurance.

The wanted value of the insurance is calculated on the depreciated value of the vehicle, and your intended level of cover of contents. 

Tools and Equipment insurance

Since your Mail Clerk business needs unique and dedicated equipment, you will realize how much it can cost to replace it in case of any damage, loss, or theft.

The gear may be subject to malicious damage, deliberate fire, theft, other such unforeseen acts.

In addition, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can eliminate your whole business in one stroke.

Unless you can afford to immediately replace such specialized gear quickly out of your own pocket, you should have full-level equipment insurance so that you can immediately buy everything needed to keep your Mail Clerk business running.

It is hard to advise how much equipment insurance you need – it’s really dependent on how much you have invested in your Mail Clerk business’ equipment.

Commercial Property insurance

Any Mail Clerk business that owns or rents space in a building should have a commercial property insurance policy.

If you own the space, you may already have a substantial capital investment, along with a big liability if there’s a mortgage.

Your physical building location must carry insurance coverage for the value of the premises and contents against unexpected occurrences like fire and storms, and against deliberate damages like theft and vandalism.

If your Mail Clerk business works in areas of high risk, like California or South Carolina, supplementary coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Washington, where intense cold snaps can cause damage to outer coverings of Mail Clerk business premises, there is a need for more supplementary cover than in warmer climes.

Although the level of cover depends completely on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of Mail Clerk insurance section below to give some estimate of the average prices per million dollars of property insurance for your Mail Clerk business.

Temporary insurance by month, week or day for your Mail Clerk business

Is your Mail Clerk business working part-time or casually, or is the level of business variable?

Using short-term insurance makes excellent sense. Business insurance by the month, day, or week – temporary insurance for Mail Clerk – are special policies where you can cover a specific period when you want to be covered.

By only paying for that period of cover, you will save by having less premiums but still having the same risk cover.

The essential feature of short-term insurance is that you purchase the cover for a defined period – a designated date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.

When you are expecting periods of better business activity, get the existing cover improved.

Talk to your insurance agent, broker or the company’s representatives to see what options you have.

Business Owners Policy BOP for your Mail Clerk business

You have the option to combine most of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.

A BOP integrates commercial property and public liability insurance by amalgamating these coverages into one insurance policy, which can save you money.

BOP insurance will protect you if any claims of injury or property damage are made.

It is mostly the right choice for small and medium-sized Mail Clerk businesses, such as yours.

There are some limits that will rule whether BOP is suitable for your own business.

BOPs do not cover your professional liability or commercial vehicle risks.

Also, the size of your business will rule whether you are allowed to take out BOP cover.

The typical business that is allowed to take a BOP policy must have no more than one hundred employees, and not more than five million dollars in annual turnover.

Plus, you must separately take out the mandated worker’s compensation, health and disability insurance as determined for your state.

Workers Compensation insurance for your Mail Clerk business employees

In almost all states, it is mandatory to have workers compensation insurance when your Mail Clerk business has one or more employees.

Workers compensation insurance covers the operation against any costs that arise if a worker experiences an injury or becomes sick as a result of work.

The benefits provide for medical expenses, death benefits, lost wages, and vocational rehabilitation.

Failure to meet a state’s laws in this regard can leave you as the employer having to pay penalties levied by the states.

Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only authorize coverage from the government-run monopoly state funds.

In these states, you can’t get your workers compensation obligations from private insurance companies.

Workers compensation rates are calculated based on the employee’s pay, and usually come out at around $1.00 per $100 per month.

However, you must consult the relevant authorities in your state.

Average costs of these types of insurance

Although every Mail Clerk insurance level is unique, there are enough examples of average quotes from insurance companies for us to give approximate guidelines, including what are the cheapest rates offered.

Of course, you should always check with an insurance representative what’s relevant for your business.

The list below is of annual premiums we have researched for the main types of insurance your Mail Clerk businesses needs.

Types of insurance Price range
Equipment insurance $315 – $1225
Public liability insurance $295 – $600
Commercial insurance $870 – $2225
General liability insurance $700 – $1015
Commercial vehicle insurance $1710 – $2565
Product liability insurance $270 – $655

Cost of insurance for your Mail Clerk operations depends on many different factors.

We have estimated these figures for small freelance Mail Clerk businesses.

In larger states like New York, premiums are generally about 20%-30% higher than national averages, but in smaller states like Oregon, they usually are about 20%-30% less.

The location and size and type of your Mail Clerk business can have a big effect on the cost of different policies.

You should talk to professional insurance agents and brokers, or insurance company representatives.

As well you can let the internet do the work for you by looking for insurance companies near where your business is located.

Another useful source of information is the local Better Business Bureau in your town.

FAQ

What is small business insurance for Mail Clerk operations?

This is an umbrella term used to describe standard insurance policies designed to protect Mail Clerk business owners from risks like bodily injury, property damage, claims of negligence.

Does my Mail Clerk business have to have insurance?

Some of the forms of insurance are not mandatory for you to open your business, but they can protect you from risks in your business operations.

Certain other forms are required by state law, such as workers compensation and vehicle insurance.

What does a small Mail Clerk business insurance policy cover?

Liability insurance provides insurance against lawsuits or claims filed by a customer for bodily injury, property damage, or negligence.

The exact cover will vary based on your own operations.

See the table in the costing section above for average prices of the best policies for Mail Clerk insurance.

How much will Mail Clerk business insurance cost?

On top of the size of the business, several other factors, such as location and claims history, are used to determine your policy’s cost.

You should talk to professional insurance agents and brokers, or insurance company representatives.

You can search for more information insurance for Mail Clerk, in the search box below, and follow the relevant links.

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