rogersmith Posted January 1, 2013 Share Posted January 1, 2013 Is there any insurance out there that covers your bulk vending machines on an annual deductible rather than a per incident deductible? The concern is that if one had service people and many of the machines were stolen by one or more of them (as the service people would know where many of the machines were), but it couldn't be proven that they were the thieves (such that there was no ability to collect from bonding), you could be out a lot of money with a $250+ deductible with respect to the machine at each location that was stolen. Chaining the machines only protects them so much and they cannot be chained at all locations. What do some of the professional bulk vendors with service people do to protect themselves from this situation. Is there an insurance with an annual deductible rather than a per occurrence deductible? Obviously self insurance against catastrophic loss (as opposed to ordinary loss) is not a great idea... Link to comment Share on other sites More sharing options...
treadmill Posted January 1, 2013 Share Posted January 1, 2013 I don't have that problem. I don't have employees. I can't see where one has to have employees. I mean go ahead and service your routes, get to know your location contacts, learn about your machines and what selections work at each location and put that money you would have paid an employee in your pocket. I know when I had my route of 600 machines i had no problem servicing them and didn't need an employee. I am not afraid to work. I can't see having an employee(s) doing this, even if I had 3,000 machines. Link to comment Share on other sites More sharing options...
musser Posted January 1, 2013 Share Posted January 1, 2013 Forget about insuring the equipment the premiums woud be too high to be cost effective. The real worry is liabilty due to an injury claim like choking or like a kid climbing on a rack and falling off or having the rack fall over. Link to comment Share on other sites More sharing options...
rogersmith Posted January 2, 2013 Author Share Posted January 2, 2013 I am only talking about racks and there does come a point at which service people are required if you are going to have enough racks with decent service cycles. Injury liability is not a concern as insurance readily exists for it. I am wondering what measures/insurance bulk vending operators with service people use as per my original question. Does anyone have any experience with this? Thanks in advance... Link to comment Share on other sites More sharing options...
havending Posted January 2, 2013 Share Posted January 2, 2013 It's not cost effective to insure machines weather its from a driver or some one just stealing it. Not if but when it happens you just take the hit. Sent from my Desire HD using Tapatalk 2 Link to comment Share on other sites More sharing options...
musser Posted January 4, 2013 Share Posted January 4, 2013 I am only talking about racks and there does come a point at which service people are required if you are going to have enough racks with decent service cycles. Injury liability is not a concern as insurance readily exists for it. I am wondering what measures/insurance bulk vending operators with service people use as per my original question. Does anyone have any experience with this? Thanks in advance... Your business liability will cover them, provided the carrier knows you have employees. Also your commercial vehicle insurance will cover them if named. And for employee injuries workmans comp. And again, insuring the machines themselves is not cost effective. Link to comment Share on other sites More sharing options...
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