Commercial Insurance Overview
Property insurance covers the risk of property loss including commercial buildings, equipment, furniture, fixtures, inventories, business records, supplies and other physical items.
Property insurance may cover two types of property losses:
- Direct losses which consists of property that is lost, stolen, damaged or destroyed
- Indirect losses which are related to direct losses
Commercial General Liability Insurance
Commercial General Liability insurance consists primarily of liability coverages, which protects against injury or damage claims made by other parties.
Policies provide coverage for liability arising out of:
- Products/Completed Operations
- Premises & Operations
- Personal & Advertising Injury
- Fire Damage Liability
- Medical Payments
Workers’ Compensation coverage applies to bodily injury and diseases arising out of and in the course of employment. Any bodily injury must be accidental, and the term includes death resulting from the accident. Only occupational diseases, which are unique to the occupation, are covered.
Workers’ Compensation provides for the payment of four types to benefits:
- Medical benefits
- Income benefits
- Death benefits
- Rehabilitation benefits
Commercial Automobile Insurance
A commercial auto policy covers vehicles used in the operation of your business. Depending on the policy, coverage can include business-owned, leased and employee-owned vehicles utilized for business purposes.
Cyber liability covers risks associated with your company’s use of technology such as misuse of email, damages from computer viruses, or losses caused by data breaches.
Protect your professional staff against negligence claims made by patients, clients, members or employees.
- Directors & Officers coverage protects your principals and key decision-makers from personal losses related to the business.
- Employment Practices insures your organization from claims made by employees.
- Fiduciary responsibility reduces the risk associated with employee benefits.
- Contract and Surety Bonds manage risk on major projects.
Garage Liability & Garagekeepers
A garage liability policy will typically cover injuries that occur in your shop as well as liabilities related to business-owned vehicles.
A garagekeepers policy is for damages to vehicles owned by customers while they are in the care of your business.