Bryan Posted June 12, 2012 Share Posted June 12, 2012 Hey there! I just got a call from one of my locations (I actually have a machine in both of their stores), and they are telling me that the machines need to be removed because they are liable for any "free standing machines" because they can fall on a child and injure them. If I were to buy liability insurance (which I know I need to do anyway), would this solve the problem? I was always under the impression that the vendor was liable for the machines and not the location. I just hope that there is an easy answer for this problem because I would hate to lose two locations. Thanks for the help! Bryan Link to comment Share on other sites More sharing options...
PerformaVending Posted June 12, 2012 Share Posted June 12, 2012 If you are insured for liability, then the location has nothing to fret about. I think 2 Million is the norm these days, and I can't think of a situation in which a bulk machine can do that much damage. Get a good independent agent to track you down something inexpensive (less than $500 a year if you can) and get yourself insured. Present them a proof, and you should be fine from there on out. Link to comment Share on other sites More sharing options...
havending Posted June 13, 2012 Share Posted June 13, 2012 Can the location be sued? Sure they can but that is where your insurance would kick in and pays the claim. Buy insurance or go pick up your machines. Link to comment Share on other sites More sharing options...
Action Vending Posted June 13, 2012 Share Posted June 13, 2012 I have been wondering about the insurance issue when most of you guys say two million in insurance for $500 per year is that for an entire business, per machine or per location. Link to comment Share on other sites More sharing options...
PerformaVending Posted June 13, 2012 Share Posted June 13, 2012 I have been wondering about the insurance issue when most of you guys say two million in insurance for $500 per year is that for an entire business, per machine or per location. For me, it's the whole works- every machine is covered by that one policy from the singles to the MB Snacker units that never saw action, and since it covers the machines as a separate entity, the location is in no way liable. One and done. Now, that's for bulk machines, I'd imagine that full line is different. Link to comment Share on other sites More sharing options...
Smiley Posted June 13, 2012 Share Posted June 13, 2012 Get the insurance. If the location is still nervous have them to sign a contract with a clause where you agree to hold them harmless if your machines do any damage. Try to make the length of the contract 5 years so at least you'll get some security against getting kicked out. Link to comment Share on other sites More sharing options...
Bryan Posted June 13, 2012 Author Share Posted June 13, 2012 Thank you so much for the replies everyone. I knew in the back of my head that insurance was something I really needed to pay attention to anyway, it's simply the cost of doing business. I spoke with a State Farm agent today and he said that with my current 9 machines I could get $1 million in coverage for $275 a year (about $22/month). The only issue was that I'll need my parents to buy the coverage for me because I'm only 17. And smiley, I like the contract idea. Would this be a simple document or would this be something a bit more official that I would need a lawyer to look over? Link to comment Share on other sites More sharing options...
Smiley Posted June 13, 2012 Share Posted June 13, 2012 I'd go with a simple document. Define bulk vending. Give yourself an exclusive . Agree on a percentage, if commission. Agree to hold them harmless.Agree on term. Maybe a few other things I'm forgetting right now. There might even be a sample somewhere on this site. Link to comment Share on other sites More sharing options...
Bryan Posted June 13, 2012 Author Share Posted June 13, 2012 I like your thinking smiley! If anyone could post an example of this sort of document or show me where to find one it would be much appreciated! Link to comment Share on other sites More sharing options...
bullyfrog Posted June 13, 2012 Share Posted June 13, 2012 I don't think you can sign a legal contract if you're under 18 either. Sent from my MB855 using Tapatalk 2 Link to comment Share on other sites More sharing options...
PerformaVending Posted June 13, 2012 Share Posted June 13, 2012 If you can't sign a legal contract, than give them the same assurance (minus any "contractual" parts) and call it a guarantee. Add on proof of insurance and talk to them- unless they have other motives for booting you, I can't see a business wringing it's hands over this. If you are insured, and can provide legal proof you are insured they are not liable for your equipment. Period. Link to comment Share on other sites More sharing options...
Bryan Posted June 13, 2012 Author Share Posted June 13, 2012 I'm pretty sure if I signed a contract involving myself and someone else it would still be considered a legal agreement, but like Performa said, hopefully they would be okay with guarantee. Aygain, thanks for all of the help everyone, I'm not sure where I would be without you guys! Link to comment Share on other sites More sharing options...
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