Whether your business is a full-service travel agency or you are an independent travel agent, you are going to need insurance to cover your commercial risks because disasters and accidents happen every day. And they can happen to anyone, no matter how careful they are.
Let's look at a few vignettes:
A woman books a 14-day Cunard cruise to St. Petersburg and the Baltic for four, for a grand total of $43,196.00. You are giddy. And so, apparently, is the woman, because she pushes her chair back, stands up to go, turns around, and falls off the slightly raised platform your desk and visitor's chair sits on.
She lies on the ground, her muffled sobs showing you how hurt she is. After a 911 call, the ambulance arrives and the EMTs put her on a backboard because she tells them she cannot move her limbs.
This could cost you thousands. Multiple thousands. Except that you have general liability insurance coverage which will cover the medical, ambulance, and hospital costs. And it can pay legal fees for bodily injury and personal injury.
General liability coverage also provides personal and advertising injury coverage that will also protect you from any misunderstandings which a client might have based on your advertisements which resulted in booking the wrong trip or a trip that was anything other than what the client wanted.
General liability is included in a Business Owners Policy (BOP).
A business owners policy is a flexible kind of insurance which is tailored to the needs of travel agents or travel agencies.
A business owner's policy covers physical business assets such as your offices and other business structures as well as the contents of those structures. They also protect offsite business equipment.
It will also protect from loss of valuable papers, electronic data, accounts receivable, and/or income which occur due to the damage.
Commercial automobile insurance will protect you or your company against auto accidents which involve your company or personal car if that accident occurred while it was being used for work purposes. And it may include rental or loaner vehicles from the same thing.
Workers compensation is required by law in all but one state, though that one state holds the employer responsible for job-related injuries. So, you will most likely think it prudent to get a workers compensation policy no matter where you live.
Workers compensation pays for medications, medical treatment, and loss of wages. and if the injury results in the employee's death, it will pay standard death benefits to the employees family. If the employee is no longer going to be unable to work in the position he or she used to work in, the workers comp insurance will pay for retraining for a new career.
It will also pay for any legal fees that result if the employee files a lawsuit claiming you or the company was at fault.
If you want to get competitive insurance quotes for your travel agency business, there is a button labeled "Start Quote Now" at the top of this page. Enter your zip code into the blue box above and click on the button.