General
Liability: Liability
insurance protects you from claims alleging that you were at fault for
causing Bodily Injury, Property Damage and
Personal or Personal/Advertising Injury. This is
commonly referred to as "slip and fall" coverage, as that is a very
common type of claim.
Property:
Property
insurance is protection for equipment, tools, merchandise and other
property your business owns. It is
important to know what type of property you have so that it can be
properly insured. For example, computers are covered in a different
manner than office furniture, and property that leaves the premises
(such as to take to a job) is covered differently as well.
Small
Business Auto: Small
businesses often employ automobiles to make deliveries, visit clients
and any manner inbetween. It is often the case that personal auto
policies will allow only a limited amount of business activity. Because
of this, it is imperative that your business is protected for the
liability assumed while using an automobile.
Umbrella:
Umbrella coverage acts as "excess" Liability insurance over policies
you currently have in force, meaning they would pay covered amounts
that surpass your underlying Limits. This provides you with additional
protection in the case of a covered loss. While Umbrellas do vary, some
also offer additional coverage that would otherwise be excluded from a
normal Liability policy.
Small
Business Owner's Packages: Small
Business Packages are a very common way to package the above mentioned
lines of insurance into one policy. This makes it simple for the
consumer as well as saves premium dollars.
Contractor's Liability: If you are
an individual doing part-time or full-time work as a contractor, you
may not need as much protection as is offered with a "Business Owner's
Package". However, it is still imperative that you consider "Liability"
insurance. We have a market that offers a wide variety of Contractor
policies, which can even include coverage for your tools, at a very
competitive price.
Other
Items of Consideration
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Workers'
Compensation: Workers' Compensation is required by many states
if your business has employees. Workers' Compensation can also cover
accidents that happen to you, helping to pay medical costs as well as
lost wages.
Bonds:
Various
types of businesses require bonding, which is a way to show that
payment is guaranteed. An example of this would be a liquor bond
required to open a tavern.
Special
Events: If
you have special events, such as company picnics or the like, you may
need Special Event insurance. General Liability policies may not cover
these activities.
Professional
Liability: Liability
from any "Professional" act is excluded from most General
Liability policies. To cover this gap, you may need Professional
Liability insurance. An example of who would need this insurance is a
medical office, a beauty parlor, or a lawyer. |
| If you are
interested in a quote for any of these lines of insurance or are still
unsure about what exactly your business might need, please contact us. |
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What
is a "Business Owner's Package"?
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| Small
Businesses typically package their insurance into what is called a "Business Owner's Package".
This enables them to have one policy that covers multiple lines of
insurance. For example, one Business Owner's policy can cover your
building, your business property, your liability and your business
automobile. If you are a small business owner, package insurance is a
good place to start. |
| Why
Purchase an "Umbrella"?" |
Umbrella
policies are an excellent option for Small Businesses because
they are relatively inexpensive, they can be added to an existing
package
policy and they offer a substantial limit of insurance (typically
starting at $1,000,000).
One of the main attractions of Umbrellas is that they sit over multiple
policies. For example, if you had a $1,000,000 Umbrella, it could act
as excess over your General Liability, your Automobile Liability and
your Employer's Liability, allowing any of those policies an additional
$1,000,000 of insurance for a covered loss. |
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