One of the most common types of business insurance is commercial property insurance, which provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, wind and other natural or manmade disasters are examples of what is typically covered.
General liability, also known as "commercial liability insurance" is a broad commercial insurance policy that covers general liability exposures of a business. Community Insurance recommends that all businesses have general liability coverage in place.
- Professional Liability Insurance (Errors & Ommissions)
Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party's data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. Community Insurance recommends that all professional and technology companies have E&O coverage.
- Employment Practices Liability Insurance (EPLI)
Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees' legal rights. If you have employees, Community Insurance recommends considering this type of coverage.
- Directors and Officers Insurance (D&O)
D&O insurance covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well
Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection in case your business is ever sued or held legally responsible for some injury or damage.
General Liability pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations.
Commercial auto insurance can cover a combination of vehicle types (trucks, cars) and drivers, as well as some types of motorized equipment. It provides for bodily injury liability and property damage while operating a company automobile, and Personal Injury Protection (PIP) for the driver and passenger.
Are you renting cars or are your employees using their own vehicles? This particular coverage provides business insurance coverage for certain liabilities arising from the use of a rented or leased vehicle (hired), or a non-owned vehicle (employee using their own vehicle on company business). Oftentimes this coverage can be added inexpensively to a business auto policy, or in some cases, a general liability policy.
Insurance policies for privately owned vehicles may not cover damage to your privately owned car or truck when it is used for business, even when it's a business such as selling cosmetics, jewelry, or pizza delivery.
Every business is unique – talk to Community Insurance today to find out how to get the best business auto insurance, service, price and value.
While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask your insurance agent to explain all the differences and options.
Workers' compensation coverage pays for medical care and physical rehabilitation of employees injured at work and helps to replace lost wages while they are unable to work. Additionally, this coverage protects an employer from being sued by an injured worker in most cases.
Community Insurance can help your business find complete solutions to your unique workers compensation insurance needs. We'll find solutions that create safer and more productive workplaces, more confident and secure workers, and overall savings that you'll see on the bottom line.
Coverage for office workers using their own vehicles on company business is often needed as well. If you have employees, it is critical that you consider workers comp coverage.
If umbrella policies are good for individuals, then they are imperative for business. When a catastrophic liability loss occurs, an umbrella insurance policy can mean the difference between a business surviving, or not.
The rising costs of lawsuits and judgments are important for today's business owner to consider. Catastrophic liability losses can happen to any business at any time, and a commercial umbrella policy protects you when those losses exceed your basic liability coverage. The time and effort you have taken to build your business is too important for it to disappear after one unforeseen event.
Commercial Umbrella helps you protect your assets by providing liability limits above and beyond your other insurance policies. In some cases, it even broadens your protection. Due to the unpredictable nature of jury awards, Community Insurance recommends that your business insurance program include this coverage.