JOHN WYCOFF specializes in General Liability, Workers Compensation, Commercial Automobile, Equipment, Umbrella/Excess, and Pollution insurance for plumbers, electricians, AC/Heat technicians, framers, and most other artisans engaged in service, repair, and construction. Please download the form's on the right and after you have them completed email them to us. thanks!
Basic Coverage at the Lowest Price: Good option for businesses that have a stable driver and vehicle list and is willing to call to add or endorse any drivers within 30 days of hire.
Standard Coverage at a Great Price; Great option for businesses that have frequent changes in their driver list. Adds the Additional Driver Endorsement which allows eligible drivers to be added during the current policy term without notification as long as they were hired 30 days after the policy inception date. You must notify the insurance to add them on at the time of renewal.
The Best Protection for Your Money; Best option for businesses with frequent changes in their driver list, those that hire or borrow non-owned vehicles, and business required by their customers to carry insurance that covers all owned, hired, and non-owned vehicles (when eligible). This adds the Additional Driver Endorsement as in the standard policy but adds the Non-owned and Hired Auto endorsements provide liability coverage for vehicles rented, leased, borrowed, or hired from an employee, partner, family member, or any other member of the business or household. Also, when eligible, this adds Any Auto Coverage, which provides liability protection for any owned vehicle listed or acquired during the policy period. Any changes made during the year must be added at the time of renewal.
DISCOUNTS THAT CAN BE APPLIED:
WHAT IS A CERTIFICATE HOLDER, ADDITIONAL INSURED, WAIVER OF SUBROGATION, ETC.?
A certificate of insurance may be requested when obtaining a permit or bidding on a job. You may request these from us at any time at no charge. We will fax or email a copy to you and the person requesting the certificate (Certificate Holder). Simply call or email us with your name or company name and provide the name of the Certificate Holder that is to appear on the Certificate of Insurance, address and fax or email.
However, at times those Certificate Holders may have additional requirements that my lead to policy endorsements. An endorsement is an amendment or addition to an existing policy which changes the terms or scope of the original policy. These are sometime referred to as riders. The cost of these endorsements depend on the endorsement itself and the company you are insurance carrier. We will always provide you with a fee schedule at the time you choose to bind/renew your policy.
Types of Endorsements:
Additonal Insured- a person or organization that enjoys the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy. According to Wikipedia, The usual reasons for including other parties as additional insureds is due to the close relationship or legal requirements between the original named insured and the additional insured. In most cases it is beneficial for a party to be covered as an additional insured on the policies of other parties because this will reduce the loss history of the additional insured and lower its premiums. The losses will be posted against the policies of the party providing the additional insurance and their premiums will rise accordingly. Typically, a larger and more powerful business will require that smaller entities (desiring to do business) have the larger business named as an additional insured. They will be notified of intent to cancel or cancellation.
Waiver of Subrogation- prevents one party’s insurance carrier from pursuing a claim against the other contractual party in an attempt to recover money paid by the insurance company to its insured or to a third party in resolution of a covered claim. Usually in favor of the Certificate Holder.
Primary and Non- Contributory-only required from a person or entity already added as an additonal insured to your policy. It is an endorsement that makes your policy the first to pay in the event of a claim and does not allow your policy to seek contribution from another policy. The reason your contractor requires that is because they do not want your insurance to seek contribution (shared expense) from their insurance policy after it pays a claim on their behalf.
Ongoing and Completed Operations- It is standard practice for an already listed additional insured contractors to require that coverage to extend to ongoing and completed operations. This practice protects the contractor and owners from losses that occur during the course of construction, as well as claims arising out of the completed project (damages found after the project is completed). Often times, damage resulting from a subcontractor's work isn't apparent for years after the work has been completed. When that claim occurs, a suit is often filed against both the general contractor and the subcontractor, and the general contractor will tender the defense back to their subcontractor. Thus the reason for the requirement. They are “builiding walls of defense” to hurdle through before the claims actually need to payout through their own policy and be counted as a loss against them.
Contact John Wycoff for a more definite explanation on what your requirements are and to help you build the best policy suitable for your business needs!
Texas requires everyone to carry liability insurance at all times. The required minimum is 30/60/25. However, you have the option to increase the limits for just a few dollars more per month. Ask us to compare the difference for you! Not all companies offer the increased options. Beware of named driver policies versus the standard policies that allow permissive use. What does this mean? It's the difference of whether your policy covers only the listed named drivers or if it will extend the liability to any licensed, non-excluded driver whom you allow to borrow your vehicle. ASK, even if state law requires all agencies to disclose if it is a named driver policy! Cheapest isn't always your best option. You may end up paying more out of pocket in the long run.
What does 30 / 60 / 25 mean?
These numbers represent the maximum pay outs on your policy. If you have 30/60/25, it means you have $30,000 per person, $60,000 maximum per accident for all involved passengers and $25,000 property damage limits. Property damage could be a vehicle or other property you run into such as a fence, light post, building etc. If you cause an accident, your policy will pay up to those limits to the other person(s) for the injuries you caused to them, their passengers and/or their property.
We recommend you always consider limits above the state minimums. Most new cars cost more than $25,000 and if your insurance limit is used up, the remaining amount will come out of pocket. Imagine if you were to cause damage to a $75,000 luxury vehicle or worse yet, cause a death!
Remember, a personal policy will not cover a commercial vehicle or use of a personal vehicle for commercial use. But a commercial policy will cover a personal vehicle plus it is tax deductible!
Liability(BI/PD)-Required- You are at fault - Pays the other Driver (Bodily Injury)/Passenger (Bodily Injury)/Property Damage (Car, fence, post etc.)
Uninsured/Under-insured Motorist (UM)- (optional)- You are the victim of an improperly insured or uninsured driver or a hit and run-
Medical or PIP(optional)- Provides medical coverage up to the selected amount of coverage. Covers you, your passengers in the event of an accident, regardless of fault (recommended you use UM first if you are the victim of improperly insured driver or hit and run). PIP is a bit more costly because it also pays for a portion of your lost wages due to the collision. It is important to consider if PIP for someone who does not regularly receive a paycheck from an outside employee such as self-employed, non-employed, disability, stay at home mom, retirees etc.) is suitable. In this instance, you may consider simply medical coverage. Coverage is on YOU, not the vehicle. Thus, it follows the listed driver(s), so if you are in a "Friends" car and involved in a collision in which there is no coverage available for you, then you could potentially still use this portion of your policy! ☺
Comprehensive/Collision (AKA Full Coverage-Optional)
THIS DOES NOT COVER THE DRIVER OR PASSENGER(S) IN ANY WAY. THIS IS FULL COVERAGE FOR THE VEHICLE ONLY.
Basically this is required when the auto is under a lien to protect the lien holder interests in the event a car is totaled. It covers the complete repair and/or replacement of your vehicle at current cash value (except manufacturer defect and engine) once you cover the deductible. Usually that is $500 for each part (comp and collision). The higher the deductible, the lower your premium. BUT don't raise it so much that it is counterproductive in comparison to your vehicle's value.
Collision is just that-collision (Wreck)-Whenever possible-not your fault- use UM rather than Collision, to avoid the "assumption" of guilt and affecting points on MVR and potentially increasing rates and losing discounts for safe driver.
Comprehensive is ANYTHING else that can happen to that auto-theft, fire, vandalism, hail damage, tornado, etc...
To this you can add:
*Towing or Roadside Assistance (optional)- suggest you get the max due to the miles and trips that you put on your vehicle (roadside assistance, lockout etc.-usually reimbursable unless they send someone out that is available and that will bill. Progressive will usually allow you to sign and drive away and the claim is submitted to them). In all instances, contact your insurance first before assuming you are covered.
Rental (optional)- Allows you to rent a temporary vehicle when yours is in repair due to claim repair or while obtaining replacement. It is limited to your selected amount of coverage per daily rate/maximum rate per occurrence.
Remember: ALWAYS get a police report, regardless if no one is hurt. This helps in claims. NEVER admit guilt/liability. Always take pictures of your vehicle before and after collisions. Take names/numbers of witnesses immediately. Always call your agent before filing a claim to see if you have coverage for that particular incident. Get estimates!
Texas Commercial Liability Services
615 E Abram St Suite C
Arlington, TX 76010
Available 8:00am - 4:00pm M-F