Protecting your business from disgruntled employees is essential to growth and success.
Every business is responsible for upholding their employees to a certain standard. In this day-n-age, team members need to understand how to meet goals, how to improve, and when to check in with management.
In the ever-evolving litigious society, should an employee feel that they were wronged in some way, when they are terminated, they can lash back in the form of a lawsuit.
Below are the top 4 reasons why employees sue companies (and how to protect your business!):
Not providing a reason for termination. If you’re an at-will employee, you can fire at will, right? Wrong! Most employees think that they’re great workers, and if they get fired for a mysterious reason, they’ll make up their own reason – or their lawyer will. The reason for termination needs to be clear.
Firing an employee for a bad performance when the employee has good performance reviews. In contrast to the above situation, supervisors need to understand that they’ll need a performance paper trail if they want to fire someone. Without written warnings and a host of good reviews at hand, your case will not be strong.
Poor timing. An example of this is when an employee files an internal complaint about the employer or a supervisor, and then is disciplined for an unrelated event. Employees who file complaints can, of course, be disciplined, but the supervisor better have the documentation in order before making the move.
Out of control greed. For example, the owner of a company drives a brand new Ferrari but tells an employee that the company cannot afford to give him a raise from $9 an hour to $9.15. Should that employee get fired, they’ll likely call a lawyer for this unjust work environment.
Fortunately, commercial insurance can mitigate the costs, should your business be slapped with a lawsuit. Businesses can ensure that your HR and legal teams are doing their best to provide the proper protection and training, and secure your business with reliable commercial insurance for time and cost help defending your business.
For a quality insurance policy for your business, contact the Insurance Agency of Dean Davis, located in Austin, Texas!
Commercial Auto Insurance Costs
Taking risks as a business owner can help you reach your goals. However, taking risks with your insurance will never lead to anything good. While investing in the right commercial insurance policies can seem pricey, it is vital to keep you and your employees protected. To help save money on your commercial auto costs, keep these tips in mind.
- Check driving records – before you allow an employee to be listed on your commercial auto insurance policy, check their driving records. Driving records can have a huge impact on your premiums, so make sure that only the employees with the best driving records are allowed to get behind the wheel of a company car.
- Always have continuous coverage – letting your insurance coverage lapse for any amount of time will mean much higher premiums when you invest in a new policy since most insurers will want to see proof of prior coverage when writing a policy.
- Ask about discounts – just like any other insurance policy that you have, there are many discounts that are available to help keep the cost of your commercial auto insurance low. Some of the most common discounts are when you pay in full, or bundling with your other commercial insurance policies.
- Remember your credit – insurance companies may look your credit history to help determine your premiums. The better your credit, the better your rates will be. Make sure to ask your agent if your credit history is considered for your premiums, and what is specifically looked at.
For all of your commercial insurance needs, contact the Insurance Agency of Deal Davis in Austin, Texas. We will work with you to ensure that you have the right amount of coverage, all at the right price to fit with your company budget.
Commercial Auto Insurance Minimums
If you have any number of company vehicles, you need to invest in a commercial auto insurance policy, also known as a fleet insurance policy. Just like most states have a minimum amount of coverage required for your personal auto insurance, there is also a minimum amount of coverage needed for your commercial auto insurance policy. Investing in the minimum amount of coverage needed can help to ensure that you and your employees stay safe while on the road.
If you are only looking for the minimum amount of coverage for your company cars, you may have a hard time finding a policy. Many insurance providers will not write a policy that only covers the minimum amount because they take on an increased risk when insuring company cars. While you may have to pay a little extra for your commercial auto insurance policy, it simply means that you have added protection.
Unlike personal auto insurance policies, typical commercial auto insurance policies have a combined single limit. This means that instead of separating liability coverage into personal injury and property damage, it is combined into one limit. These coverage limits typically range from around $500,000 to millions of dollars.
The cost of a commercial auto insurance policy will depend on many factors, including how your vehicles are used and the nature of your business. One of the best ways to help save money on your rates is to compare policies. Working with an independent insurance agent will help to make the process of comparing policies much easier.
For all of your commercial insurance needs, contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas. As an independent insurance agency, we will work with you to ensure that you have the right amount of coverage, all at the right price.