We know your business means everything to you. It’s also important to us. As an owner of a growing business, you face tough challenges every day. Make sure your business has adequate insurance protection.
While your day-to-day operations are complex, understanding Business insurance doesn’t have to be. There are coverage options available to protect just about every aspect of your business from employee injury to natural disasters. Some insurance is required by law and others by business associates, such as lenders and landlords. Obtaining the right type and amount of insurance for your business will help you avoid gaps in coverage where you need it most.
Minimum Coverage Options
– Property Insurance can fund repairs or replacements for damaged physical assets when disasters like vandalism, fire, windstorms, or hail strike.
– Liability Insurance can protect against financial losses resulting from claims of injury or property damage caused by you or your employees and your products or services.
– Workers’ Compensation Insurance can satisfy your employees’ medical needs in the event of an accident or disease and make a quick return to work possible, while removing lawsuit potential by current or former employees.
– Business Auto Insurance can get you on the road again quickly after an accident and ensure your business is protected against losses from injuries to other drivers, passengers and pedestrians for which you and your employees are liable.
– Business Crime Insurance can protect against fraud, theft, forgery or robbery.
Tailor your Business Insurance Policy with these additional insurance options:
> Employment Practices Liability – can cover your business if discrimination, sexual harassment or wrongful termination claims are made by present, former or future employees.
> Life Insurance for Business Owners – can help you plan for business succession, survive the loss of a key employee or partner and retain/reward your top people.
> Umbrella can shield your business from potentially ruinous lawsuits with additional liability coverage.
> Bailee – can protect against damage to customers’ goods, including jewelry and clothing.
> Transportation and Cargo – to cover against goods that are damaged or lost when transported by one of your vehicles or common contract carriers.
> Spoilage for perishable goods – when they spoil due to a mechanical breakdown or power outage.
> Delivery/Catering Non-Owned Auto – if an employee is involved in an auto accident while driving a personal automobile on company business, such as in a delivery or catering service.
What is Business General Liability Insurance?
General liability insurance protects your business from another person or business’s claims of bodily injury, associated medical costs and damage to property. Some examples of what could be covered are below:
Bodily injury – A client falls over your bag and you are legally liable for the injury. We will cover the subsequent claim and related medical expenses up to your General Liability policy’s limits of liability.
Property damage and data loss – You spill coffee on a client’s server causing damage and loss of data. We will cover the subsequent claim up to your General Liability policy’s limits of liability.
Personal injury – One of your employees is at lunch. He talks to the owner of the shop about one of your clients in a false and unflattering way. The client learns of this discussion and sues for slander. We will cover the subsequent claim, up to your General Liability policy’s limits of liability, and pay for an attorney to defend you if necessary.
Get Liability Insurance That Best Meets Your Needs!
General liability insurance will not protect you from everything. For example General liability will not cover you against claims of negligence, even if it isn’t you or your business’ fault. Some people buy other business liability insurance along with general liability.
> Professional liability insurance, also known as E&O Insurance, is coverage for another person’s claims against businesses that provide professional and personal services.
> Business Owners Policy (BOP) is enhanced insurance that combines general liability insurance and property insurance.
Why do you Need General Liability Insurance?
You should consider general liability insurance coverage, also called commercial general liability insurance, if you or your employees:
> Interact with clients face to face – If you visit a client’s place of work, or clients visit yours
> Have access to a client’s equipment – For example, IT professionals should be covered against potential claims with IT business liability insurance
> Represent your client’s business
> Use third-party locations for any business related activities – For example, architects should make sure that they’re covered with architects business liability insurance
> Are required to have general liability insurance before entering into a contract