Business Insurance

Having the proper business insurance coverage at an affordable rate can make the difference between the success and failure of your business. Allow our commercial insurance experts to help guide you to success.

 

What is Business Insurance?

 

 

Business insurance protects your investment by minimizing financial risks associated with unexpected events such as a death of a partner, an injured employee, a lawsuit, or a natural disaster. 

Business Insurance is a broad name for different coverages available to the business owner to protect against losses and to insure the continuing operation of the business. 

Major Types of Business Insurance

General Liability Insurance 

  • A standard insurance policy issued to business organizations to protect them against liability claims for bodily injury and property damage arising out of premises, operations, products, and completed operations; and advertising and personal injury liability.

Commercial Auto Insurance

  • Covers cars, trucks, motorcycles, and other road vehicles owned by or operated within a business. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom. Commercial auto insurance may also offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from events other than traffic collisions.

Commercial Property Insurance

  • Covers risk of loss to an organization’s buildings or personal property. Usually includes buildings, personal property of the insured business or business owner, personal property of others on site and in the insured’s possession. Coverage can be provided on an all risk or specific perils basis.

Commercial Umbrella Insurance

  • Commercial Umbrella insurance is liability coverage that is in excess of specified other commercial insurance policies and also potentially primary insurance for losses not covered by the other policies. When an insured business is liable to someone, the insured's primary insurance policies pay up to their limits and any additional amount is paid by the umbrella policy (up to the coverage limit of the umbrella policy).

Professional Liability Insurance

  • Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice and service-providing companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. Professional liability coverage sometimes also provides for the defense costs, including when legal action turns out to be groundless. 

Business Owner's Package

  • A Business Owner's Package (often called a BOP) is an insurance policy that combines protection from all major property and liability risks in one package. It typically combines all the basic coverages required by a business owner into one bundle. It is usually sold at a premium that is less than the total cost of the individual coverages. Business Owners Policies usually target small and medium-sized businesses and typically contain business interruption insurance, which provides reimbursement for up to a year of lost revenue resulting from an insured property loss.

Workers Compensation

  • Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.

Group Health Insurance

  • Group health insurance coverage is a policy that is purchased by an employer and is offered to eligible employees of the company (and often to the employees' family members) as a benefit of working for that company. A group health insurance plan is a major part of many employee benefits packages that employers provide for their employees. 


Contact us to learn more about the right business insurance for you.

 

 
Owner's Package Insurance (BOP)

Get all your business insurance needs covered under one Business Owner's Package Insurance policy. We'll get your business covered in the most affordable way.

What is a Business Owner's Package Insurance Policy?

 

A business owner policy packages all required coverage a business owner would need. Often, BOPs will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance . Based on your company’s specific needs, you can alter what is included in a BOP. 

Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverage’s.

 

What's Covered with a Typical BOP Policy?

 

BOPs typically include: 

 

  1. Property insurance for buildings and contents owned by the company -- there are two different forms, standard and special, which provides more comprehensive coverage.

  2. Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.

  3. Liability protection, which covers your company's legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.

 

In most cases, BOPs do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You'll need separate insurance policies to cover professional services, vehicles and your employees.

Contact us to learn more about the right Business Owners' Package Policy for your business.

 
Event Insurance

 

Make sure the unexpected doesn't ruin your next planned event. We are insurance professionals who understand your risk and needs. Give us a call and get your event insured today.

What is Event Insurance?

 

Event Insurance covers the legal liability you or your company may hold from certain types of claims arising from accidents taking place during an event you host. 

Subject to the specific coverage terms, conditions and exclusions, it offers protection for the host / honoree for damage to the facility caused by a guest or vendor, bodily injury to guests they are found liable for, and alcohol-related accidents they are found liable for.

 

Do You Need Event Insurance?

 

No matter the size of your event or how well prepared you are, you never know when the worst-case scenario could become your reality. It's the small things that cause the most problems if you're not properly covered. So even the most basic coverage policy could prove to be a big help in the long run.

Contact us to learn more about the right insurance for your upcoming event.

 
 
Group Benefits

 

Having the proper business insurance coverage at an affordable rate can make the difference between the success and failure of your business. Allow our commercial insurance experts to help guide you to success.

What are Group Benefits?

 

Group benefits are insurance that covers a group of people who are usually the members of societies, employees of a common employer, or professionals in a common group. 

Group coverage helps reduce premium costs because it reduces the insurance carrier's risk by creating a pool of people to insure who are together for reasons other than obtaining insurance. Group benefits can also be a powerful incentive to keep and attract great employees.

 

Major Types of Group Benefits

 

Group Health Insurance 
Group health insurance coverage is a policy that is purchased by an employer and is offered to eligible employees of the company (and often to the employees' family members) as a benefit of working for that company. A group health insurance plan is a major part of many employee benefits packages that employers provide for their employees. 

Group Life Insurance
Group life insurance (also known as wholesale life insurance or institutional life insurance) is term insurance covering a group of people, usually employees of a company, members of a union or association, or members of a pension or superannuation fund. Individual proof of insurability is not normally a consideration in the underwriting. Rather, the underwriter considers the size, turnover, and financial strength of the group.

Group Disability Insurance
Group Disability Insurance is a type of group insurance that provides regular income replacement payments to an insured member of the group in the event of an eligible disability resulting from illness or injury. Coverage is generally offered in two types: short-term disability (STD) or long-term disability (LTD).

Group Accident/Supplemental Insurance
Supplemental insurance is extra or additional insurance that you can purchase to help you pay for services and out-of-pocket expenses that your regular insurance does not cover in the event of an accident or other covered loss.

Group Dental/Vision Insurance
When organizations want to offer the best dental and vision care benefits to attract and retain the best employees they need to work with our group dental and vision experts. We have access to the benefit plans that will keep your group members, employees, and their families healthy. 

Contact us to learn more about the right benefits for your group.

Workers' Compensation

 

Let us help you make sure your adequately covered for workers comp. We'll get you a great rate and keep your business going strong.

What is Workers' Compensation Insurance?

 

Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.

 

Additional Information about Workers' Comp Insurance

 

While plans differ among jurisdictions, provision can be made for weekly payments in place of wages (functioning in this case as a form of disability insurance), compensation for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form of health insurance), and benefits payable to the dependents of workers killed during employment (functioning in this case as a form of life insurance).

General damages for pain and suffering, and punitive damages for employer negligence, are generally not available in workers' compensation plans, and negligence is generally not an issue in the case.

Contact us to learn more about the right workers compensation insurance for your needs.

 
 

Insurance Bonds

 

If you need an insurance bond to bid on or get hired for a new job call us. We're insurance bond experts and we'll get it taken care of you... Fast!

What is an Insurance Bond?

An insurance bond ensures contract completion in the event of contractor default and are typically required by project owners when seeking a contractor to fulfill a contract. 

The contractor obtains a bond so the insurance company is obligated compensate the project owner

for the financial loss incurred if the work is not completed. 

 

Typical Insurance Bond Types

 

Although there are many types of insurance bonds, the four most common types needed by business owners are:

 

  • Bid Bond - Ensures the bidder on a contract will enter into the contract and furnish the required payment and performance bonds if awarded the contract.

  • Payment Bond - Ensures suppliers and subcontractors are paid for work performed under the contract.

  • Performance Bond - Ensures the contract will be completed in accordance with the terms and conditions of the contract.

  • Ancillary Bond - Ensures requirements integral to the contract, but not directly performance related, are performed.


Contact us to learn more about the right insurance bond for you.