BUSINESS INSURANCE 2019-01-24T21:55:07+00:00

Business insurance

As a business owner, you should never leave your hard work and investment open to risks. No matter what type of enterprise you run, we have the insurance for you. Our business insurance solutions can reduce the cost of unexpected losses. These can include incidents such as natural disasters, lawsuits, employee injuries, commercial vehicle collisions, and more. Commercial insurance policies are designed to protect you and your business, any of the following coverages can be included into your personalized plan

No matter how big or small your business may be, our team is here to analyze and understand the unique risks you face. Having strong commercial insurance will make a great difference in your business practices and the way your company functions overall.

Business Owners Policy (BOP)
Commercial Property
Commercial Auto
Workers Compensation
General Liability
Errors & Omissions
Professional Liability
Commercial Umbrella
Bonds

Business Owners Policy (BOP)

A business owner’s package makes things simpler and more affordable by combining all of the essential insurance coverage plans into one plan that covers all circumstances. All BOP packages are different because every business is unique. A Business Owners Policy combines building, business property, liability, owned or non-owned automobiles and more for small to medium-sized businesses. This packaged coverage is generally less expensive than when purchasing coverage separately. With a BOP you have the ability to customize the policy to meet your individual business needs.

Additional coverages:

Extended liability for additional insureds;

Tools and equipment;

Valuable records protection and accounts receivable;

Data breach and more.

Commercial Property

Commercial property insurance provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, windstorm and other natural or manmade disasters are examples of what is typically covered.

There are two main types of commercial properties:

  • Habitational – Apartment Buildings, Condominium Association Buildings.
  • Non-habitational – offices, stores, shops, warehouses, bakeries, restaurants, gas stations, dealerships, factories and etc.   

Commercial property policy by itself is mainly designed for Habitational type properties and those Non-habitational properties which are leased to others (you are just a landlord and not involved in business operations). If you are the owner of the building and you run the business – the proper coverage for you would be a Business Owners Policy (it is a package which includes the coverage for your building).

Common Coverages:

Building. It is recommended to insure it for Replacement Cost Value. Our agents can help you to determine that amount. In some cases Actual Cash Value option is available, but that most likely will not be enough to rebuild your property if loss occurs. Make sure you are choosing the right option. We are here to answer all your questions.

Business Personal Property covers property at a specified location, for example: furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location.

Business Income (Business Interruption) reimburses a business owner for lost profits and fixed expenses during the time that a business is closed due to a covered loss. It applies while the premises are being restored because of damage from an event, such as a fire.

Commercial Auto

Commercial property insurance provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, windstorm and other natural or manmade disasters are examples of what is typically covered.

There are two main types of commercial properties:

  • Habitational – Apartment Buildings, Condominium Association Buildings.
  • Non-habitational – offices, stores, shops, warehouses, bakeries, restaurants, gas stations, dealerships, factories and etc.   

Commercial property policy by itself is mainly designed for Habitational type properties and those Non-habitational properties which are leased to others (you are just a landlord and not involved in business operations). If you are the owner of the building and you run the business – the proper coverage for you would be a Business Owners Policy (it is a package which includes the coverage for your building).

Common Coverages:

Building. It is recommended to insure it for Replacement Cost Value. Our agents can help you to determine that amount. In some cases Actual Cash Value option is available, but that most likely will not be enough to rebuild your property if loss occurs. Make sure you are choosing the right option. We are here to answer all your questions.

Business Personal Property covers property at a specified location, for example: furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location.

Business Income (Business Interruption) reimburses a business owner for lost profits and fixed expenses during the time that a business is closed due to a covered loss. It applies while the premises are being restored because of damage from an event, such as a fire.

Workers Compensation

Workers’ compensation insurance, commonly known as workers’ comp, is insurance that covers medical expenses and portion of lost wages for employees who become injured or ill on the job. Coverage also includes employee rehabilitation and death benefits.

Workers’ compensation insurance is required by law. Choosing not to have workers’ comp puts your business at high financial risk. Not only can you face a lawsuit for workplace injuries, but you most likely will be fined for breaking the law. Keep in mind, workers’ comp protects not only your employees, but your business too. If your insurance is compliant with state law, an employee who receives benefits cannot sue you for their injuries or lost wages.

An employee can only receive benefits if their injury or illness relates to their job duties or employment, regardless of employee negligence.

General Liability

General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business.

Coverage typically includes product protection from financial loss should you be liable for property damage or personal and advertising injury caused by your services, business operations or your employees.

Errors & Omissions

General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business.

Coverage typically includes product protection from financial loss should you be liable for property damage or personal and advertising injury caused by your services, business operations or your employees.

Professional Liability

Professional liability insurance (PLI) is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service.

Coverage sometimes provides for the defense costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice.

Commercial Umbrella

The rising costs of lawsuits and judgments are important for today’s business owner to consider. Catastrophic liability losses can happen to any business at any time. Commercial Umbrella helps you protect your assets by providing liability limits above and beyond your other policies.

Higher limits may be necessary for businesses with high loss potential, high profile, sizable sales, numerous assets, large auto fleets, worldwide presence, significant public exposure.

Talk to our experts about your business operations and we can advise you what kind of liability coverage you need to protect yourself and your company.

Bonds

Here are some of the types of bonds we can provide:

  • Bid Bonds
  • Performance & Payment Bonds
  • Supply bonds
  • License and Permit Bonds (Contractor License, Agent/Adjuster/Broker License, Professional License and etc.)
  • Alcoholic Beverage Compliance Bonds
  • Probate Bonds (Administrator, Executor, Guardian)
  • Trustee Bonds
  • Public Official Bonds (Notary Public, Sheriff, and etc.)
  • Court Bonds
  • Fidelity Bonds
  • Miscellaneous Bonds

Please contact our agency for more information at 708-433-7777!