Personal and Business
Commercial and personal autos are often one of your biggest assets. Auto insurance protects against potentially crippling financial losses and the sheer inconvenience of being without transportation. Remember, not all car insurance is created equal. Some auto insurance policies simply meet legal requirements. In most states, this means your auto insurance will cover the damage you cause to other cars in collisions. However, auto insurance in some no-fault states will also cover your own car or truck. Additionally, the law usually states that auto insurance policies must cover some medical bills that result from a car crash
Because your business faces the unexpected on a daily basis, there are always risks involved. A Business Owners Policy (BOP) combines business property and business liability insurance into one convenient policy. It’s a combination policy bringing together two types of coverages.
The first type is property insurance. Property insurance covers risks associated with your business’ premises, equipment and loss of income. In addition, it often includes any associated loss of business. The second type is liability insurance. Liability insurance covers damage to people you deal with and their property. However, it’s important to note that liability insurance usually doesn’t cover risks related to professional services–meaning damages that result from you giving clients inaccurate advice, for instance.
No matter what kind of business your run, consider the benefits of business owners insurance. From startups to established businesses, we will develop a custom plan for you. Contact us today to get started!
Workers’ compensation insurance covers employees injured on the job or in auto accidents while on business. It also covers work-related illnesses. It’s an investment in the safety and security of your employees. The precise rules vary from state to state, but the general rule is that your business must take out workers’ compensation insurance for employees that pays out if they are injured at work. This ensures that should an employee be injured on the job, they will be covered.
As a business owner, knowing the risks of injury is one thing, but understanding what workers’ comp covers is equally important. In principle, the workers’ comp payouts will cover medical bills, care costs and a portion of any lost wages. Plus, in the worst-case scenario, workers’ compensation insurance will cover funeral costs and death benefits.
No matter the size and nature of your business, there are always uncertainties. General liability insurance mainly covers bodily injury to people outside of your business and physical damage to their property. A few exceptions to this principle include data loss and reputation damage (for example, if one of your business’ staff members defames a client). It’s important to note that general liability coverage doesn’t apply to cases where you are sued for giving inadequate professional advice. Errors & omissions insurance (E&O) can help to protect your business from that specific type of risk.
Business auto insurance, also called commercial auto insurance, takes all the elements of normal auto coverage and adds on extra protection. When obtaining commercial car insurance you can usually get much higher liability coverage to reflect the fact that a business typically has more assets at risk than an individual would. Additionally, with commercial auto insurance, you can get collision insurance. This type of coverage pays out for damage to your commercial car or truck no matter who caused the collision–a protection that’s often a must if you lease or finance commercial vehicles.
Fire, flooding, theft, or accidental damage are unfortunate incidents that could not only damage or destroy your property but could also devastate your business. Whether it’s buildings, commercial vehicles, or equipment, losing these assets would be a potentially critical setback for your business. A commercial property insurance policy can protect against the cost of replacing lost or damaged property. Additionally, commercial property insurance can cover any associated losses–such as lost income–that are caused because part or all of your business is temporarily knocked out of action.