Enhancing the appearance of your customers is a very rewarding experience. However, the very services you provide put your business at risk. Protection for your assets can easily be addressed through the various insurance coverages listed below.
Coverage for your buildings, furniture and fixtures, machinery and equipment, office supplies, inventory, personal property owned by you and used in your business, betterments and improvements and additional structures on your property to name a few.
This coverage protects you (the “insured”) from the risks of liabilities imposed by lawsuits and similar claims for a covered cause of loss.
Being sued is not something you anticipate, but everyday legal actions are taken due to negligence, personal injury, libel, slander, errors, omissions, faulty products, advertising misprints, etc. General liability coverage plays a major role in providing protection for your financial assets in case of a law suit. Defending a suit, as the policy makes clear, includes the costs of investigating the claim against the insured and handling negotiations with the claimant that may lead to a settlement rather than a court proceeding.
Because many of the services you offer require that you be licensed by the state in which you operate you have additional exposures that are not covered by other liability coverage policies. Professional Liability Coverage is designed to protect you in the event that your service or failure to render a service causes damage.
Equipment Breakdown – This coverage pays to repair or replace mechanical or electrical equipment due to mechanical breakdown.
Business Income – This coverage provides protection against loss of income, or profits due to property loss or damage from a covered peril, such as a fire, windstorm or natural disaster. It can also compensate you for rental income you receive from property you own and rent/lease to others. Payroll is also included in your continuing normal operating expenses.
Extra Expense – This coverage compensates you for additional expense needed to avoid or minimize the “suspension” of business and to continue “operations”.
Hired Auto Liability – This insurance provides coverage for “bodily injury” or “property Damage” arising out of the maintenance or use of a “hired auto” by you or your “employees” in the course of your business.
Non-Owned Auto Liability - The insurance applies to "bodily injury" or "property damage" arising out of the use of a "non-owned auto" by any person in the course of your business.
Many optional coverages can be considered including Back up of Sewer and Drains, Spoilage, Money and Securities, Employee Dishonesty, Outdoor Signs, Employee Tools at Described Premises, Fire Extinguisher Systems Expenses, Reward Payment Money Orders and Counterfeit Money, Forgery and Alterations just to name a few.
In the event you are found liable for a loss and the financial settlement exceeds the liability limits of coverage found on your primary policies, your Commercial Umbrella Policy is designed to provide an extra layer of coverage.