Large Business Insurance

Liability: The Liability of Large Businesses is much different than other types of industry. A Large Business has many types of ongoing operations simultaneously, each proposing new challenges for their Liability exposure. With so many different types of business activities, multiple suppliers and distributors, tens to thousands of customers, clients and employees, those in charge of running Large Businesses need to know that they have an insurance agency they can trust and a policy that properly protects their unique exposures.

Property: Property of Large Businesses also greatly differs from that of other businesses. For example, you could have costly equipment and machines, merchandise that is held for sale, merchandise shipped to a warehouse, supplies delivered to you daily, expensive mainframes and end-user computers as well as all your property spread amoung several locations. All this must be taken into account when insuring your property, or else you're put at greater risk for an underinsured or uninsured loss.

Business Automobile: Our agency offers multiple options for Business Automobile coverage to help assure maximum flexibility for you. This can include specialty autos, such as those that require a CDL or those used to carry passengers for a fee. A fleet policy can also be written to help save premium.

Umbrella: Umbrella coverage is important for everyone, but a necessity for Large Businesses. Since the services, products and operations of a Large Business impact so many people, as well as a multitude of employees, a large and costly lawsuit is much more likely. Because of this, the importance of excess insurance can not be overstressed.

Inland Marine: If you are a Large Business that ships property from one palce to another, whether it be a warehouse, a store or equipment taken to another location, you require "Inland Marine" insurance. This coverage protects this equipment both on and off your premises. This could be anything from merchandise to an expensive piece of equipment taken to another facility.

Builder's Risk: One aspect of Large Businesses is their ability to grow at a very fast rate. This means that remodeling and new construction are taking place, often times at the same place where current operations are ongoing. This type of exposure could very well require a Builder's Risk policy, which will protect your "under construction" portion of the building. With multiple markets available to us, we can work to secure your coverage for a great price.

Equipment Breakdown: Equipment Breakdown is another key coverage for a Large Business. This is because a Large Business often relies upon certain pieces of equipment to keep its operation going; it could even be just a single piece of equipment that allows a Large Business to operate. If this piece of equipment were to suddenly break, your entire operation could be shut down. This is why Equipment Breakdown coverage is necessary for a Large Business

Business Income and Extra Expense: One of the main causes of a business failing after a loss is the lack of adequate Business Income and Extra Expense coverage. Business Income coverage helps to supplment your lost income after a covered loss. Extra Expense coverage helps to pay for the additional expenses you incur as a result of that loss, including expenses such as temporary locations and rented equipment. These two coverages helps to enable your business to continue to operate as if at normal capacity during the period of restoration after a loss, a period which could take weeks or even months to complete.

Other Considerations

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.