As a business owner, you have enough on your mind without having to worry about your insurance needs. You want to have the confidence that the business you’ve built is covered by a company that understands your business insurance needs. No matter your type of business give us a call we can help!
Commercial business insurance provides wide-ranging protection for businesses and their subsidiaries under a single policy. There are various types of commercial business insurance that takes care of property, liability and workers’ compensation, to name a few. While property insurance covers damages to business property and products stored within the premises; liability insurance provides coverage for damages to third parties; and workers’ compensation insurance covers injuries to employees.
Commercial business insurance is an important aspect of any business that cannot be ignored especially if the business premises are leased or rented and even otherwise. Whatever your commercial insurance needs, we can design a protection program that’s right for you.
BUSINESS OWNER POLICY
Typically a BOP policy includes:
General Liability – When someone is hurt on your premises or by something you do while representing your company on or off premises.
Business Personal Property – Your building/office contents such as desk, computers, chairs, inventory, etc.
Business interruption insurance – Covering losses that cause you to shut down operations or reduce production for a time.
Loss of Business income -If operations are shut down due to a covered loss this replaces the normal income for up to one year or longer if selected.
Employee Dishonesty -Protection when an employee commits forgery, embezzlement, theft of property, etc.
Hired/Non-Owned Auto – Protection for the employer when an employee uses their personal auto for company business such as making bank deposits or picking up supplies and are involved in an accident. Non-owned is when you need to lease/rent a vehicle to replace a company vehicle that is out of service.
TYPES OF COMMERCIAL POLICIES
Business Owner's Policy - A business owner's policy combines business property and business liability insurance into one
Worker’s Compensation – Provides compensation and/or medical care for employees who are injured in the course of employment. Also provides additional protection called Employers Liability in case they are sued as a result of negligence causing the employee’s injury.
Commercial Auto - An auto insurance policy designed to protect all the vehicles used in the course of doing business. The policy provides liability in the event your employee is involved in an accident and hurts someone and or does physical damage to the other vehicle. The limits of liability required may depend on the use of the vehicle or even the gross vehicle weight. Some companies allow or will provide coverage for commercial auto polices even if the vehicles are used for personal use.
Commercial Liability Umbrella– also known as excess liability. This policy kicks in when your primary Business Office Policy has exceeded its limits of liability. The commercial umbrella policy has an option where defense cost may or may not be included in the limits of coverage