How to Start and Fully Insure a Business
Below is a brief overview of our business insurance policies. Let us help you decide on your unique needs today. Contact us to set up a complimentary consultation.
What kind of insurance do you need?
We can coordinate coverage for your business and personal life. Below are descriptions of coverage. Let us know if you need more information on any of these policies.
Builders Risk Insurance
The Builders Risk Policy is designed to provide coverage for direct loss or damage from covered causes of loss to buildings and structures under construction. The form applies to new construction as well as to renovations, remodeling, and improvements to existing buildings.
Business Auto Insurance
A BAP generally offers:
- Liability coverage-protection for physical injury to other persons or their property because of an accident related to your covered vehicle including legal defense cost or expense
- Comprehensive coverage-handles loss from any cause except collision. A limited, less expensive option is available. It only protects against a set of specific causes such as fire, lightning, explosion, vandalism, and several others)
- Collision-takes care of damage from crashes with another object or overturn of the vehicle
- Towing and labor costs for disabled vehicles
- Loss of use / Rental vehicle coverage-if you damage a rental car, this option helps to reimburse the rental company for income it loses because the vehicle is out of use. Also, there may be limited coverage for injury or damage that you cause to others while using a rented vehicle anywhere in the world.
Business Owners Policy
BOPs protect buildings as well as other features such as additions (completed or being built), indoor and outdoor fixtures, machinery and equipment, landlord furnishings, and maintenance property (such as mowers, snowblowers, ladders, etc). BOPs also cover outdoor furniture, floor coverings, and appliances used for refrigerating, ventilating, cooking, dishwashing, and laundering. The building coverage also applies to materials, equipment, supplies and temporary structures located near the insured premises.
Commercial Property Insurance
Commercial property policy provides coverage for real and personal property that is used in a business.
Directors & Officers Insurance
D & O coverage supplements the protection provided by general liability policies since the former responds to legal actions filed by shareholders, customers, scorned merger partners, and creditors.
Employment Practices Liability Insurance (EPLI)
The best defense against employment practice claims is to know the law in your state and then having policies and procedures that meet or exceed its legal standards.
General Liability Insurance
Commercial general liability (CGL) policy is extremely broad in nature. It insures the bodily injury liability and property damage liability exposures of a variety of commercial businesses, enterprises, and ventures. The broad nature of these forms eliminates having to select and group individual or specific hazards, with the resulting potential gaps in coverage.
Like a business or a homeowner, a nonprofit organization needs to protect its property from loss in a fire, by theft, or from many other hazards. Nonprofits can be lawsuit targets as well. Without insurance, a lawsuit could prove financially devastating. Whether a human services, arts, educational, civic, or other type of nonprofit, your organization should be protected by liability insurance to cover defense costs and damages.
Professional Liability Insurance
Professionals, such as doctors, lawyers and accountants, have long been held highly accountable for the consequences of their decisions. While such professions are still the “Big Three” there are a growing number of other occupations that represent an exposure to liability loss that needs special protection, including pharmacists, architects, engineers, opticians, beauticians, insurance agents, consultants, and many others.
An umbrella liability policy could be the difference between bankruptcy and an on-going business venture. The umbrella policy would take over where the business auto policy stopped, providing defense coverage and additional limits to pay large judgments.
Workers’ Compensation Insurance
Workers’ compensation and employers liability coverage insures against claims for work-related injuries or diseases suffered by employees that are compensable by statute and/or imposed by law as damages.