Commercial Business and Property

The Insurance store offers packages that are suited for different types of businesses. Whether you need insurance for a commercial building, property, equipment, inventory or company vehicles, we offer many products to help protect your firm.

Property Insurance

Property insurance covers the risk of property loss in a variety of commercial situations, including commercial buildings, equipment, furniture, inventories, business records, supplies and other physical items within the business.

There are two types of losses that property insurance typically covers:

• Direct losses may be covered when property is lost, stolen, damaged or destroyed.
• Indirect or consequential losses related to direct losses may also be covered.

General Liability

Liability coverage's protect the the insured from the risks of liabilities imposed by lawsuits and similar claims.

Policies provide coverage for liability arising out of:

• Premises and operation
• Fire damage liability (damage by fire to premises rented to insured)
• Personal and advertising injury
• Medical payments
• Products/Completed Operations

You may want to consider a Business Owners Package (BOP) which combines your Liability, Property and other types of coverage into one comprehensive policy. BOP's can help you save time and money on your total insurance program, and since we live in an age of lawsuits, you may also want to add extra liability protection in the form of a Commercial Umbrella Policy.

Commercial Vehicles

Commercial auto policies insure vehicles that are owned, leased, hired or borrowed by businesses, whether they are associations, corporations, partnerships or sole proprietorships. Commercial vehicle coverage may be used to insure private passenger autos and all types of trucks, trailers, semi trailers and commercial vehicles designed for use on public roads.

Workers' Compensation

Workers’ Compensation coverage applies to bodily injury and diseases arising out of and in the course of employment. Any bodily injury must be accidental, and the term includes death resulting from the accident. Only occupational diseases, which are unique to the occupation, are covered.

Workers’ Compensation provides for the payment of four types of benefits:

• Medical benefits
• Income benefits
• Death benefits
• Rehabilitation benefits

One of our representatives can provide you with complete details on Workers’ Compensation Insurance and recommend cost-effective ways to control expenses through safety engineering and claim services.

Frequently Asked Questions

What is the difference between Replacement Cost (RC) and Actual Cash Value (ACV)?
Replacement Cost is the current cost to replace property. Actual Cash Value is the replacement cost less depreciation.

How does an audit work?
At the end of the policy term, the insurance company will review the policy and either charge or credit the policyholder based upon an audit of estimated figures. Examples of estimated audit able items include sales and payroll. Audits can be performed onsite by an auditor or via mail or telephone. A premium is charged for audit estimations.

Why do I need certificates of insurance from sub-contractors?
An audit may require you to show proof that sub-contractors had their own insurance coverage. The sub-contractors' certificates of insurance will prevent you from being charged for their exposure.

What is General Liability?
General Liability provides coverage if you are liable for damages to other individuals arising from your premises, general operations (ongoing and after completion) and products manufactured or sold.

What does Products/Completed Operations mean?
Products/Completed Operations refers to the liability coverage for damages caused by your operation or products after the point at which you no longer have control of them.

What is Business Interruption/Extra Expense coverage?
Business Interruption/Extra Expense coverage provides coverage for income loss and the expense of establishing a temporary site during repairs due to damages related to a fire.

What is the difference between "Named Insured", "First Named Insured" and "Additional Insured?"
Named Insured's are those listed by name in the relevant block of the policy's declaration page. Although the named insured is commonly one person, partnership, corporation or other entity with insurable interests, multiple named insured's may be included.

First Named Insured is the first "named insured" listed on the policy declarations (front page of the policy). This insured acts as the legal agent for all named insured's in initiating cancellation, requesting policy changes or accepting any return premiums. The first named insured may also be responsible for payment of the premiums.

Additional Insured is an entity to which a policy's coverage is extended. An additional insured must be added to the policy prior to a claim being paid. There must be a tied to relationship between the additional insured and named insured. Being an additional insured on another's policy does not eliminate the need for someone to have his/her own Commercial General Liability policy.