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Business Insurance

Ready to save on your Business policy?

Covering what you do is what we do.

Business insurance includes a broad range of policy options designed to protect a business from financial loss. Every commercial operation has its own unique set of risks, which means a commercial insurance policy must be tailored to the business.

Many factors, from the size of your company, to the number of workers you employ, the materials they handle and whether you have business vehicles, will determine the specific coverage you need to mitigate risk and protect your company’s financials.

Many business owners find that they must turn to a number of different insurance companies to get all of the coverage needed to cover their risks. If you work with us you can get all of your business insurance policies from one office.

What does Business insurance cover?

Business insurance coverage for a commercial operation can include the following and more:

  • General liability insurance: Covers third party liability claims for injuries to other people.
  • Professional liability and malpractice insurance: Covers professionals against loss due to negligent professional duty, wrongful acts, and advice and services that lead to another person’s loss or injury.
  • Product liability insurance: Covers against faulty products and damage, illness, injury or death that may occur from using a faulty product.
  • Property insurance: Covers loss and damage to your commercial business property due to fires, storms and other causes.
  • Commercial vehicle insurance: Covers commercial vehicles and drivers for collision, liability, property damage, personal injury and “comprehensive” (now known as “other than collision”).
  • Workers compensation: Covers your employees if they become ill or injured while working on the job.
  • Loss of income: Covers your business expenses such as rent and employee wages if you can’t operate your business.
  • Key person insurance: Covers loss of income that may result from the head of the business or other key personnel becoming incapacitated or passing away (also known as key man insurance).
  • Cyber-crime insurance: Provides protection for risks due to Internet use and online communications.
  • Records retention policies: Covers loss of important data and financial records.
  • Specialty coverage: Insurance that covers various specific business risks, such as those of andlords, farmers, and commercial operations that put on one-day events, such as seminars or concerts.

Am I required to have insurance on my Business?

Business insurance is required by law, but only under certain conditions. The following business insurance is required by law if it is applicable to your situation:

Unemployment insurance: Applies to a business that has employees and may be obligated to pay unemployment insurance taxes under prescribed conditions; if these conditions are applicable to your business, then you must register your business with the state work force’s agency.

Workers compensation insurance: If your business has employees, you are most likely legally obligated to carry workers’ compensation insurance, either on a self-insured basis or through a commercial insurance carrier or a state worker’s compensation program. Workers compensation laws vary by state.

Professional liability insurance: Some states require specified professionals to carry insurance against professional liability.

Disability insurance: Several states require that a business have partial wage replacement insurance coverage for employees eligible for non-work related injury or illness. These states include California, Hawaii, New Jersey, New York, Puerto Rico and Rhode Island.

What business insurance do I need?

Depending on the nature of your business and any insurance which you are legally obligated to carry, the following types of business insurance should be considered essential:

  • General liability insurance: Coverage against accidents, injuries and negligence claims
  • Product liability insurance: Coverage against product defects
  • Professional liability insurance: Covers professionals against malpractice, negligence or errors
  • Commercial property insurance: Covers against damage to your business property, such as from fire or a severe storm
  • Business interruption insurance: Protects your business if you are no longer able to conduct your business because of a loss
  • Home-based business insurance: Covers against general or professional liability.

Because commercial insurance needs to be tailored to each business based on risks, it is critical to help us get to know your company and ensure that your coverage adequately protects your business investment.

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