Commercial insurance protects your business from external risks and losses due to events that may occur during the normal course of business. These risks are often out of your control, and if your business is not protected, you could find yourself on the wrong side of debt or lawsuits that could put your business in jeopardy.
We have put together a list of many of the different types of protections we can offer for your business along with brief definitions. That said, because each business is different in so many ways, from size, industry, customer base, and more, it is best to have a plan tailored for your specific needs. That’s where we come in, and we would love to speak with you in person or over the phone to protect your business now.
Commercial Insurance Types We Offer
- Business Owner Insurance Packages
- Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package. (They also sell coverages separately.) One package purchased by small and mid-sized businesses is the businessowners policy (BOP).
- General Business Liability Insurance
- Protect your business from liability claims. General liability insurance (GL), often referred to as business liability insurance, is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations.
- Commercial Property Insurance
- Commercial Property Insurance protects the stuff your business needs to run. It can pay to repair or replace your business property if it’s stolen, damaged, or destroyed in a fire or natural disaster.
- Business Health Insurance Plans and Packages
- Business Health Insurance plans are available for businesses to offer their employees, which offer insurance coverage that pays for medical and surgical expenses incurred by those insured.
- Commercial Automotive Insurance
- A Commercial Car Insurance policy usually covers accidental damage or bodily injury costs that occur while driving a company vehicle for business purposes. Physical damage and collision covers repairs to your vehicle. Uninsured motorist coverage to protect against damage caused by drivers who don’t have insurance.
- Errors & Ommisions Insurance
- Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy, which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service. Coverage sometimes provides for the defense costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice.
- Special Events Insurance
- If you are having a public event whether a wedding and reception or a festival you need the protection of Special Event Insurance. Our Event Liability Insurance is designed to protect the policyholder against lawsuits, claims made related to bodily injury of others, and property damage to the rented premise.
- Builders’ Risk Insurance
- Builder’s risk insurance is coverage that protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment used in the construction or renovation of a building or structure, should those items sustain physical loss or damage from a covered cause.
- Commercial Umbrella Insurance
- A policy designed to provide protection against catastrophic losses. It generally is written over various primary liability policies, such as the business auto policy (BAP), commercial general liability (CGL) policy, watercraft and aircraft liability policies, and employers liability coverage.
- Employment Practices Liability Insurance
- Employment practices liability insurance, known in the trade as EPL insurance or EPLI, provides coverage to employers against claims made by employees alleging: Discrimination (based on sex, race, age or disability, for example), wrongful termination, and other employment-related issues, such as failure to promote.
- Garage Insurance
- Insurance covering the legal liability of franchised and non-franchised automobile, truck, truck-tractor, motorcycle, recreational vehicle, and trailer dealers for claims of bodily injury (BI) and property damage (PD) arising out of business operations.
- Product Liability Insurance
- Product liability insurance protects against claims of personal injury or property damage caused by products sold or supplied through your business. It is designed to help protect your business by ensuring that if this happens, you don’t have to pay any legal or court costs.
- Restaurant & Bar Insurance
- General liability insurance, or GL, is an important part of any restaurant insurance plan. It could provide protection against lawsuits and other financial liabilities that result from things like slips, building damage, lawsuits and other business related risks.
- Wholesalers & Distributors Insurance
- A type of insurance broker who acts as an intermediary between a retail broker and an insurer, while having no contact with the insured. The same broker can function as a retailer or wholesaler, depending on the specific situation.
- Worker’s Compensation
- Workers’ compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue their employer for the tort of negligence.
- Directors and Officers Insurance
- Directors and officers liability Insurance (often called “D&O”) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.