Commercial Lines – Business Insurance

Business Insurance: Product Optionsblacksmith

Whether you have a small business as a carpenter, Auto repair shop, electrician, landscaping, retail store, etc…, or a larger company involved in manufacturing, car dealership, import/export, etc.., you will rest easier knowing your assets are covered by the appropriate insurance policies. ¬†We provide access to the policies business owners need, such as.

General Liability Insurance

The cornerstone of most risk management plans, General Liability Insurance steps in when a third party sues over bodily injuries, property damage, or advertising injuries. A “third party” can be anyone who you don’t employ. GL Insurance can cover legal costs, medical damages or replacement property expenses.

Commercial Property Insurance

Because most small businesses rely on some sort of office space, equipment, or inventory, Property Insurance is another key piece in your risk management arsenal. It pays to repair or replace insured property when it has been damaged or lost in a covered event, such as a fire, windstorm, or theft.

Business Owner’s Policy (BOP)

A Business Owner’s Policy (BOP) is offered generally to small businesses. By combining two popular coverages – General Liability and Property Insurance – a BOP keeps your client’s rates low while still providing them with basic liability and property coverage. Some BOPs also include Business Interruption Insurance, which covers lost revenue when a property claim forces your client’s business to temporarily halt.

Commercial Auto / Hired & Non-Owned Auto Insurance

Commercial Auto and Hired & Non-Owned Auto Insurance protect the vehicles you use to conduct business. Commercial Auto covers the vehicles you own, both when they are damaged and when they cause damage. Hired and Non-Owned Auto Insurance covers liability for damages caused by the vehicles your client rents, leases, hires, or borrows for business purposes.

Cyber Liability InsuranceLaptop_Keyboard_by_TomvdW

Any company that relies on the Internet for their business should carry Cyber Liability Insurance. It covers the costs associated with data breaches, such as notifying clients affected by the attack, hiring forensic services, and rehabilitating your public image after the breach. Certain Cyber Liability policies can cover your client’s legal expenses if they are liable for a third party’s data breach.

Errors & Omissions (E&O) Insurance

Errors and Omissions Insurance protects against claims of professional negligence. If a disgruntled customer alleges they suffered a significant monetary loss because of incorrect or incomplete work, E&O Insurance pays for your client’s legal expenses.

Professional Liability Insurance

Professional Liability Insurance kicks in when a third party sues, claiming a financial loss because of your error, malpractice, or misrepresentation. Basically, if a customer or business partner sues for negligence, Professional Liability covers attorney fees and settlements or judgments.

Employment Practices Liability Insurance

Employment Practices Liability Insurance protects your client when they are accused of unfair hiring practices. If an employee – prospective, former, or current – makes an allegation of wrongful termination, sexual harassment, or discrimination, EPLI covers your client’s litigation expenses (e.g., lawyer fees and settlements).

Workers’ Compensation Insurance

If you have employees, state laws may require you to carry Workers’ Compensation Insurance . This coverage is twofold. The first part pays for medical expenses and lost wages when an employee suffers an occupational illness or injury. The second part, called Employers’ Liability Insurance, provides coverage when the employee alleges negligence led to the work illness or injury.

Umbrella & Excess Liability Insuranceumbrella 2

These two policies are very similar in that they strengthen the protection of General Liability, Employers’ Liability, and Commercial Auto / Hired and Non-Owned Auto coverage. Umbrella Liability Insurance can be applied to all three policies when their limits have been exceeded and you need more coverage. Excess Liability Insurance can only be applied to one of these three policies.

Liquor Liability Insurance

Most states have dram shop laws that hold a business liable when owners or employees serve alcohol to a visibly intoxicated patron who harms others. That means if a customer kills someone in a drunk driving accident after drinking alcohol your business provided, the deceased’s family members could sue. This makes Liquor Liability Insurance essential for any business that manufactures, serves, or sells alcohol.

Special Event Insurance

Special Event Insurance addresses your liability when hosting a short-term event, such as a sports tournament or a client outing. If an attendee or spectator ends up getting hurt or suffering property damage, Special Event Insurance kicks in, paying for medical expenses or damaged property. If the third party chooses to sue, Special Event Insurance pays your legal expenses.

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