Running a small business involves a significant investment. Business insurance protects your investment by minimizing financial risks associated with unexpected events such as a death of a partner, an injured employee, a lawsuit, or a natural disaster. Unless you are an employer, business insurance is generally not required by law, however, it is common practice to purchase enough insurance to cover your assets. If your business is an LLC or a corporation, your personal assets are protected from business liabilities; however, neither business structure is a substitute for liability insurance, which covers your business from losses.
Your state government determines insurance requirements for businesses. Most states require businesses with employees to pay for workers compensation insurance, unemployment insurance, and state disability insurance. Your state may require insurance of specific business activities. For example, if you own a car or truck and use it for business purposes, you may be required to purchase commercial auto insurance. Finally, your financial lender or investors may require you to maintain life, business interruption, fire, flood or other types of insurance to protect their investments.
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Insurance is complex . Without the help of licensed and knowledgeable people, costly mistakes can jeopardize the solvency of your personal assets. Because clients needs are vastly different, we prefer to conduct a short telephone interview (usually 10-15 minutes) to determine the program which is specific and appropriate for you.
Call us at 1-800-220-6613 . For your convenience we have set up some forms that include many of the questions we will ask you when you call. You can complete and submit a form if you like and we will contact you. We have people who will answer your questions.
Property insurance covers everything related to the loss and damage of company property due to a wide-variety of events such as fire, smoke, wind and hail storms, civil disobedience and vandalism. The definition of property is broad, and includes lost income, business interruption, buildings, computers, company papers and money.
Property insurance policies come in two basic forms: (1) all-risk policies covering a wide-range of incidents and perils except those noted in the policy; (2) peril-specific policies that cover losses from only those perils listed in the policy. Examples of peril-specific policies include fire, flood, crime and business interruption insurance. All-risk policies generally cover risks faced by the average small business, while peril-specific policies are usually purchased when there is high risk of peril in a certain area. Consult your insurance agent or broker about the type of business property insurance best suited for your small business.
- Commercial Buildings
- Business Personal Property
- Floater Policies for Tools and Equipment
- Flood Insurance
Business owners purchase general liability insurance to cover legal hassles due to accident, injuries and claims of negligence. These policies protect against payments as the result of bodily injury, property damage, medical expenses, libel, slander, the cost of defending lawsuits, and settlement bonds or judgments required during an appeal procedure.Commercial LiabilityCommercial AutomobileWorkers CompensationDirectors and OfficersEmployee BenefitsEmployment Practices LiabilitySurety/BondingFidelity BondsUmbrella/Excess Liability
Professional Liability Programs
- Accounting Firms
- Architects and Engineers
- Dentists and Oral Surgeons
- Healthcare Facilities
- Imaging Centers
- Law Firms
- Nursing Homes
- Physicians and Surgeons
- Real Estate Agents
10 Ways to save on your business insurance without sacrificing coverage
There s more to saving money than reducing your premium. With our approach to business insurance there are 10 ways to save when you renew!
- KNOW YOUR INSURER : We represent a number of fine companies, and we know which ones want your business. In short, we do the shopping for you.
- GAPS AND OVERLAPS : Take advantage of our commercial coverage survey that eliminates expensive overlaps and reduces the chance of devastating gaps.
- RETAIN AFFORDABLE RISK : By prudent risk retention, you use deductibles to reduce your overall insurance expenditure.
- DON T UNDER-INSURE : Just as we help you not to over-insure, we work with you to review and consider all of your exposures.
- DON T GUESS AT LIMITS : Very often increased limits especially liability are only costly when you underestimate the high-end of a lawsuit.
- DON T OVERLOOK EXCESS . A liability policy that picks up where your primary coverage leaves off can not only save you money it can save your business.
- BUSINESS INTERRUPTION : Can any business owner afford to lose his/her income while waiting to rebuild after a fire or other catastrophe? The answer is NO!
- CHECK FOR DISCOUNTS : Often insurers will provide discounts on the Policy when proper fire walls, sprinkler systems, burglar alarms, etc. are in place.
- PRODUCTS LIABILITY : Because you don t manufacture the products you sell, doesn t mean you can t be sued and won t have to pay lawyers.
- MULTIPLE INSURERS . Sometimes it pays to split your coverages, we can do that when it makes economic sense to use more than one carrier.
MOST IMPORTANT : Before you just write another check to renew your coverage, give us a call. We ll help you save money on your business insurance without sacrificing coverage. If your current business policy(s) are renewable within 90 days, please call us immediately, and we ll work on a competitive quote right away!