Below you will find some of the most common coverage's carried by businesses along with their respective definitions.
Commercial Auto Insurance – Unlike personal auto insurance, businesses have specific needs when it comes to insuring their commercial vehicles.
A commercial auto policy is similar to a personal auto policy, but it includes some unique coverage's and limits. For example, your policy may include the following coverages:
· Liability Limits– A commercial policy will typically carry limits of $1,000,000 per occurrence.
· Hired Autos – Covers vehicles you rent for business purposes.
· Non-Owned Vehicles – Liability protection for businesses when employees use their vehicles on company time (coverage is in addition to employees’ personal auto policies).
Statistically, a company’s greatest likelihood for a large loss will arise from a vehicle-related claim. Contact us to discuss how to protect your company and its vehicles.
Property Insurance – Insurance coverage for your company’s building, inventory, office contents and other fixed assets.
General Liability Insurance – A traditional general liability insurance policy covers lawsuits that arise from bodily injury and property damage inflicted upon others. It can also cover damages in other areas like libel and slander.
Worker’s Compensation – Workers compensation insurance protects your business and employees should they be injured on the job. While it is mandated in most states, workers compensation rates, coverage's and limit options will vary based on the nature of your business.
Group Life and Disability Insurance – In addition to group life and disability insurance, our agency can help your company with key personnel life insurance. Key personnel life insurance is life insurance policy taken out by the business to protect itself against the financial loss it could potentially suffer from the loss of one its key employees. Key personnel life insurance can also be between partners to fund the sale of their respective shares of stock in the untimely passing of one of the owners.
Business Interruption Insurance – Coverage for the loss of revenue from covered claims. This coverage provides revenue to the business until they are able to fully restore operations. The amount paid by the insurance company can include ongoing expenses, additional expenses incurred by the business due to the claim, employee payroll and lost revenue.
Articles – Good topics for articles include anything related to your company – recent changes to operations, the latest company softball game – or the industry you’re in. General business trends (think national and even international) are great article fodder, too.
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