As business owners, we understand the special protection businesses need to prosper. Whether your business is big or small, simple, or complex, we have the special knowledge and expertise to identify ways to properly insure your business.
Some types of insurance needed by businesses include:
General Liability Insurance
Every business needs General Liability insurance to protect it from the exposure to lawsuits and damages from bodily injury and property damage caused to someone while doing business. The amount of coverage and the cost of this insurance varies depending on the size and type of business as well as the experience of the business owner.
Professional Liability Insurance
This is specific to advice and opinions given in a professional capacity. Financial harm may be caused from bad advice that does not fit the categories of General Liability. Think of Medical Malpractice, Errors and Omissions etc.
Cyber Liability Insurance
This can be an additional coverage to a Business Owners Policy, or it may be a stand-alone policy. This protects a business from harm caused by cyber attacks of various kinds, Ransom, Data Breach, Business Reputation, and Third-Party Indemnity.
Business Interruption Insurance
Usually this is an additional coverage to a comprehensive insurance package. If your business is unable to operate due to a covered loss, the lost income for that period is covered by this line item, or by a standalone policy.
Commercial Auto Insurance
When your business owns vehicles you will need Commercial Auto Insurance. There are higher limits available here than with a personal policy, also many contractors have requirements that can only be met with a commercial auto policy. If your personal auto has a company wrap or company logos, then you might also consider this. Adding Hired and Non-Owned auto coverage to your Business Owner Policy may be a way to fill this potential gap as well.
Employment Practices Liability
Lawsuits for wrongful termination or failure to hire can be lodged whether a business is guilty of bad practices or not. This insurance covers a business accused and will defend or pay damages.
This is protection for employees injured on the job. It also protects your business from employee lawsuits and additional damages.
Commercial Umbrella Insurance
With all these other policies underneath it, a commercial umbrella is an inexpensive and efficient way to increase the overall limit of insurance when required or desired.
These are only some of the coverages and policies to be aware of. When we talk, we will ask you enough questions to help you decide what you need for your specific business.