Whether you own and operate one truck or a large fleet, are a local business or operate nationwide, Morris & Reynolds can help with your business auto insurance needs. We offer a full range of business auto coverage from the world’s leading insurers including:
Motor carriers and truckers
Excess auto liability for self-insured companies
Excess & Umbrella Liability
BUSINESS AUTO INSURANCE BASICS
Business auto insurance generally provides coverage for your business, you or someone you permit to use a company car, truck and/or van. If you own, operate, lease or use vehicles in your business you need business auto insurance to comply with state law and to protect your business.
Examples of coverage’s commonly found in a business auto policy include;
BODILY INJURY & PROPERTY DAMAGE LIABILITY: Most states, such as Florida, require certain levels of minimum liability insurance. Customers, suppliers and other entities will also often require you to carry this coverage. This type of coverage protects you from bodily injury and/or property damage that you do to others and that you are found to have caused due to negligence. It can also pay the cost to defend you when an accident results in you being sued in a lawsuit.
Bodily Injury Liability insurance applies to damages you cause to someone else. It can be used to pay the injured person’s medical bills, lost wages, pain and suffering caused your negligence.
Property Damage Liability Insurance pays to repair or replace property that you negligently damage. This includes other vehicles or property, such as a boat, a trailer, a house or other such property you might hit with your car or truck.
In order to properly protect yourself and your assets carrying an appropriate limit of liability is very important and as such high limits are suggested.
HIRED AUTO LIABILITY & PHYSICAL DAMAGE: If your rent or lease a truck for a short period of time you need this coverage. Hired Liability extends your Bodily Injury and Property Damage Liability for negligence claims to vehicles you rent. Hired Physical Damage extends Comprehensive and Collision coverage to the rental vehicle’s physical damage from exposures such as fire, theft, windstorm or collision (an accident).
NON-OWNED AUTO LIABILITY: This coverage extends your Bodily Injury and Property Damage Liability coverage for negligence claims to vehicles that your business does not own. In the event, for example, an employee uses their own vehicle to make a sales call or run an errand on behalf of the business such as to make a bank deposit and has an accident your Business Auto coverage can be extended to protect your business in the event you are sued.
UNINSURED AND/OR UNDER-INSURED MOTORISTS: Uninsured motorists coverage pays for medical bills if someone who is uninsured strikes you or if you’re a victim of a
hit-and-run driver. Although optional in Florida Uninsured Motorist coverage is required in some states.
MEDICAL PAYMENT: Medical payments coverage can pay for the medical expenses suffered by all persons injured in or upon any automobile or while being struck by an auto you do not own. Should you hit a pedestrian then this coverage would not apply to the pedestrian’s injuries but would apply to any injury you or your passengers suffer.
PERSONAL INJURY PROTECTION: Personal Injury Protection (PIP), also called ‘No Fault’, coverage pays for initial medical expenses, lost wages and funeral costs in the event of a death, for you and your passengers, who are injured in an accident. PIP coverage is required in 16 states, including Florida. Florida’s minimum coverage is $10,000.00 for Personal Injury Protection and $10,000.00 Property Damage Liability.
COMPREHENSIVE DAMAGE: Comprehensive is physical damage insurance on your vehicle for losses other than a collision such as fire, theft, flood and windstorm. In Florida, the cost of repairing or replacing a damaged windshield is covered without a deductible. Losses for comprehensive and collision claims in a basic personal auto policy are paid based on depreciated value, also known as actual cash value, not the value of a new car.
COLLISION DAMAGE: Collision coverage is just that, physical damage insurance that protects your car in the event of a collision and is nearly always purchased with comprehensive coverage. It covers repair or replacement cost of the vehicle that has collided with other cars/objects or has rolled over. Losses for comprehensive and collision claims in a basic personal auto policy are paid based on depreciated value, also known as actual cash value, not the value of a new car.
RENTAL CAR & TRUCK COVERAGE: How to insure a rental car depends on many variables, including the auto coverage you carry, the rental agreement, how the rental company’s collision damage waiver is worded, and even your credit card company agreement. In fact, there are so many variables that we have created an outline on just that topic. Contact us and request a copy of Morris & Reynolds’ HOW TO INSURE A RENTAL CAR.
EMERGENCY ROADSIDE COVERAGE: Often called Towing & Labor coverage, this pays for the cost of towing your car if it becomes disabled and is combined with collision coverage.
Your limits is typically the maximum amount referred in your policy, and is paid per incident.
LOAN / LEASE GAP COVERAGE: This coverage is used to provide coverage for cars with outstanding loan balances or leased vehicles. It pays the difference between the actual cash value at the time of the loss, less the deductible, and the vehicle’s payoff value.
CUSTOMIZED EQUIPMENT: Coverage can be endorsed to remove a common policy exclusion for customized equipment permanently installed other than installed by the car, truck or van’s manufacturer. Coverage is paid as the lesser of the actual cash value or the cost to repair or replace the item (s). Examples of custom equipment include: (A) Any dealer-installed equipment that is not offered by the original manufacturer such as after-market audio or video equipment, (B) Special equipment such as: running boards, roll bars, lighting, bed liners, camper shells, and trailer hitches, or (C) Customized wheels, spoilers, suspensions or performance-related equipment, tanks, booms, lifts and buckets among other equipment.
A UNIQUE APPROACH TO BUSINESS INSURANCE
Business insurance is our business. When it comes to your coverage and the risks your enterprise and people face we treat your business as if it were our very own. At Morris & Reynolds we offer a unique, hands on, passionate relationship with our clients that in most cases last decades because of the reliable, results oriented, solutions we provide from year to year. Some of the benefits of our business insurance work for our clients include;
SUPERIOR MARKET KNOWLEDGE, RELATIONSHIPS & INSURER ACCESS
Morris & Reynolds represents and has access to the entire market of leading insurers for all of the risks our business insurance client face. Many of our relationships with major insurers span decades and in some cases date to the founding of our firm in the 1950’s. We also take pride in representing cutting edge and emerging insurers from around the globe to structure the coverage, limits and costs you need and deserve.
ALL FORMS OF INSURANCE, EMPLOYEE BENEFITS & RISK RELATED SERVICES
Our dedicated professional people are your consultants, problem solvers and partners. We help assess your needs, evaluate solutions and suggest alternatives for your organization. We build a high level of familiarity with your company so we can offer the insights that satisfy your changing risk-financing needs. Some of our products and services include:
Alternative Risk Financing, including Captives and Risk-Sharing Pools
Claims Management & Administration
General Property and Casualty Insurance
Group Health Insurance & Employee Benefit’s
Malpractice and Errors & Omissions
Pension & Retirement Plans
Professional Liability including Directors and Officers and Employment Practices
Risk Management & Loss Control Services
Workers Compensation and Employers Liability
AGGRESSIVE, TRANSPARENT, NEGOTIATIONS
Your protection, goals and bottom line are our sole focus. The coverage and costs that we negotiate, in fact all we do, is focused on your protection needs, goals and bottom line. We are known as aggressive negotiators who have our clients’ best interest at heart. Always.
We also enjoy serving our clients in the most transparent manner possible and are happy to discuss and disclose our compensation and answer your questions about that important topic with you. Morris & Reynolds is a truly independent insurance agency and has been since 1950. Our focus is never on stockholders, stock prices or an insurance company preference but our clients’ goals, dreams and desires. Always.
PEACE OF MIND
Insurance is more than a legal contract, it’s your peace of mind. At Morris & Reynolds Insurance we take your protection, and peace of mind, to heart in all we do from the coverage we structure, the insurers we suggest and the day to day service and care we provide to our clients. When you need us most, we will always be there.
VISION & INNOVATION
At Morris & Reynolds Insurance our clients receive the best of both worlds. We are well known for our ‘old fashioned, reliable and responsive service that dates to the founding of our agency in 1950. We are also known for employing cutting edge technology and offering the latest in coverage innovations and ideas to serve our clients’ ever evolving needs. Services such as The Protection Portal, Morris & Reynolds MyWave and the Morris & Reynolds Risk Management & Loss Prevention Services are just a few examples of our forward thinking approach to service.
AWARD WINNING, EDUCATED, PROFESSIONAL PEOPLE
Our Client Service Underwriters, Client Advocates and Professional Agents are deeply committed to their profession and career-long learning. Our award winning TEAM of professional people, the finest people in insurance, is unique to Morris & Reynolds Insurance. In order to offer our client’s the very finest results possible we constantly seek improvement by way of training, performance measurement and process reviews.
Our corporate office is an approved and certified testing site for the prestigious Insurance Institute of America and their curriculum is part of our ongoing TEAM educational efforts. Morris & Reynolds Insurance is proud of the awards that TEAM members have received from a variety of industry associations and insurers, including the Florida Agent of the Year, The National Agent of the Year and The Customer Service Representative of the Year Honors to name a few.
A UNIQUE APPROACH TO RISK REDUCTION
Every day we work to provide you with the very best coverage, care and solutions available. Our extensive range of professional services, designed to manage your risk and make you and your business more efficient, include:
ANNUAL UPDATING & RISK REVIEW
Businesses change and evolve. Because of this, Morris & Reynolds conducts annual audits of your coverage and the exposures, risks and facts that your insurance is based upon. Working many months in advance of your renewal, we ensure that the coverage and exposures are current so that your renewal will progress as your business does.
Coverage such as workers compensation and general liability are based on estimated exposures that are then audited by the insurer after the policy year ends. Our team of experts is available to assist in the preparation of your audit or even conduct the audit with the insurer for you, to save you time and money.
We place an extreme emphasis on your claims. Morris & Reynolds employs licensed, professional insurance adjusters that manage your claims all year long with state of the art automation. Your assigned Claims Manager at Morris & Reynolds is your expert advocate, dedicated to resolving claims quickly and fairly. Whether it is a simple auto claim, a major fire, a devastating hurricane or a complex lawsuit, we will be right next to you doing our best to support you during what we know can be a traumatic time.
ROBUST, ANNUAL, MARKET RESEARCH & AGGRESSIVE NEGOTIATIONS
Morris & Reynolds represents hundreds of the world’s leading insurers, brokers, wholesalers, reinsurers and alternative risk related firms in the industry. As your agent, we aggressively seek solutions from all leading insurers in the marketplace and negotiate one insurer against another to arrange the best possible coverage and cost for you.
RISK MANAGEMENT & LOSS CONTROL
Protecting your business and bottom line through risk management and loss control can have a dramatic impact in lowering your insurance costs and risk related expenses. The risks that you face can come from a variety of sources including project failures, legal liabilities, natural disasters and even deliberate attacks. We proudly offer you best in class risk management and loss control that can help identify, control and manage the risks you face.
STEWARDSHIP & DEEP ANALYSIS
Success in reducing your risk and its associated costs are often found deep in the details of your coverage, claims and business. For this reason, Morris & Reynolds provides a range of detailed stewardship reports and analysis related to your coverage, options, performance, claims and other risk related metrics that are useful in constructing your Protection Plan and managing your risks.
MORRIS & REYNOLDS MYWAVE
Morris & Reynolds’ MyWave is a truly dynamic internet-based portal that delivers robust, time saving tools and information related to employee benefits, human resources and risk management. Simply log on to your customized homepage to find valuable detailed information as well as interactive postings.