Business Insurance Options and Products Available

There are five (5) main coverage areas that you should consider in your business insurance package. They include general liability coverage, property coverage, Business interruption coverage, crime protection coverage, and workers compensation.

Commercial General Liability

This insurance covers damages you may be required to pay others as a result of your actions or negligence. It usually includes coverage for bodily injury, property damage, personal injury and medical payments. This extremely important insurance provides protection for incidents such as injuries to customers or visitors when they are on your premises. It also covers damage to the property of others caused by you or your employees.

Commercial Property Coverage

This covers the risk of financial loss due to damage to buildings, inventory and other property of a business. In the event of damage caused by fire or storm, Commercial Property insurance can help repair or replace the buildings, inventory, equipment, machinery and other business property affected.

Business Interruption

This coverage will reimburse you for the loss of earnings (profit) due to an interruption in your operations. If your business location is destroyed, this coverage could provide you with the resources to take care of utilities, payroll, loans and other obligations while the business is in the process of being restored.

Crime Protection Insurance

This coverage provides reimbursement for losses due to forgery, theft, employee dishonesty and numerous other offenses. It covers crimes committed by employees, intruders, customers, professional criminals and others.

Workers Compensation Insurance

This covers your obligation under Workers' Compensation laws, which make the employer responsible for stated damages in the event of a work-related injury or illness. Medical expenses for accidental injury to an employee in the workplace - whether it be from a minor incident or a serious disaster, or involve temporary or permanent disability, loss of work time, alternative vocational training or related costs are all covered by Workers' Compensation. This insurance can also provide separate coverage for employers' liability in the case of a Workers' Compensation claim.

Note: Each insurance policy will differ, in terms of amounts covered, so be sure to sit down with your insurance agent and review your business insurance needs thoroughly.