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COMMERCIAL INSURANCE

Commercial Policy Options


  • Businessowners Policy (BOP)- Generally reserved for smaller businesses, the BOP combines various insurance coverages with additional protection into one convenient package. BOPs will often include coverage for:
    • Property Damage - Building and/or Business Personal Property
    • General Liability- Personal and Advertising Injury, Bodily Injury and Property Damage to Others.
    • Business Income- Lost income due to business interruption.
  • Commercial Auto- Covers your employees and vehicles for:
    • Liability
    • Medical Payments
    • Comprehensive/Collision
    • Uninsured/Underinsured Motorist
    • Borrowed or rented autos
    • Employees using their own cars for the business
  • Commercial Property- Some of the important aspects of your business that commercial property helps protect:
    • Building
    • Outdoor sign
    • Furniture and equipment
    • Inventory
    • Fence and landscaping
    • Others' property
  • General Liability- a basic policy covers Personal and Advertising Injury, Bodily Injury and Property Damage to Others. You can enhance a basic policy with additional options to meet specific needs of your business.  Some options include:
    • Hired and Non-owned Auto Liability Insurance- Provides auto liability coverage for short-term auto rental or for employees using their personal auto during the course of business.
    • Umbrella Policies- Extends coverage over and above your other liability coverage. Designed to protect against unusually high losses when the policy limits of one of the underlying policies have been used up.
    • Product and Completed Operations Liability Insurance- Provides protection for bodily injury and property damage that occurs away from your premises that are caused by your products or your work. The amount of coverage and the level of risk depend on your business type.
    • Employment-Related Practices Liability Insurance- Covers wrongful termination, wrongful refusal to employ, invasion of privacy or defamation claims made by your employee against you, the employer.
    • Directors and Officers Liability Insurance- Provides coverage for situations where a poor decision was made by a company’s board of directors or officers resulting in a claim for damage. Coverage can be provided for condominium associations, golf courses and churches.
    • Liquor Liability Insurance- Protects you against claims for injury sustained by reason of you selling, serving or furnishing any alcoholic beverage during the course of your business operations.
    • Fire Legal Liability- Provides coverage for fire damage to premises you rent or occupy with the landlord’s permission. You must have been negligent in causing the fire for this coverage to respond.
  • Crime- also known as fidelity insurance – is often overlooked, leaving businesses vulnerable to significant financial losses. Crime-related losses are not typically covered by commercial property insurance, so it’s important to make sure your business is protected. Some crime coverages offered are:
    • Employee dishonesty
    • Forgery or alteration
    • Theft of money and securities
    • Burglary and robbery
    • Computer fraud