BUSINESS INSURANCE OVERVIEW

Businesses present unique exposures for insurers, so it is harder to generalize about coverages. The categories of policies listed below are only an outline of the coverages available through our available international carriers.

We can offer you the following types of business coverage:

• Automobile
• Bonds
• Business Owners Package (BOP)
• Business Interruption
• Commercial Umbrella
• Ocean Cargo & Transit
• Property / Liability
• Workers Compensation
  

Whatever your commercial insurance needs, we can design a protection program that's right for you.

AUTOMOBILE (COMMERCIAL)

A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. It is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight of the vehicle. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances.

Commercial automobile insurance policies are not regulated in pricing, as are private passenger policies. There is price competition between insurance companies for good commercial automobile insurance.


BONDS

We work with many of the country's top-rated surety companies to secure:

• Contract Payment and Performance Bonds
• Fidelity Bonds on Employees
• Code Compliance Bonds
• Judicial and Court Bonds, including estate guardianship and repletion bonds
• Professional Service Bonds

BOP (BUSINESS OWNERS PACKAGE)

Business Owners Package policy, commonly called a "BOP" contains many of the insurance coverages needed by most small businesses. While these policies are not standard, there is great variation from insurance company to insurance company; there are certain common elements. The basic BOP offers business property both building and contents, and liability insurance protection for the operation of your business. This liability protection will generally include both the operation of your business, at its established location, and the liability from your products or completed operations.

Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP policies do not contain all of the coverages needed by a small business. Notably they do not cover any workers compensation, professional liability, or business vehicle coverage.

Business Owners Package (BOP) Quote Form


BUSINESS INTERRUPTION

If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the time frame and the damage. From the time the loss occurs until your business is running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.


COMMERCIAL UMBRELLA

Most package policies provide a liability insurance limit of $1 million for any one loss and $2 million in any one year. For many businesses, this limit is inadequate for real economic security. As a result, additional layers of protection in million-dollar increments are readily available in today's insurance market for most businesses.

Commercial Umbrella Quote Form


OCEAN CARGO & TRANSIT

Most property policies do not provide much coverage for property in transit domestically or internationally. For businesses where goods being shipped is a risk, special coverage is available through cargo and transit policies.


PROPERTY / LIABILITY

The general or public liability policy provides protection for claims of liability that are made by third parties. The policy provides defense protection even if the allegations are groundless. In addition the policy will pay any judgment up to the policy limit of coverage.


WORKERS COMPENSATION

By law, most employers are required to provide coverage for lost wages and medical bills incurred as a result of on-the-job accidents or illnesses. For many businesses, this coverage is the largest part of its insurance expense.

Workers Compensation Quote Form