Business/Commercial Insurance is a very valuable protection to insure the continuation and reputation of the services offered. It is a vital part of every business plan and a critical slice of the company’s budget. Business/Commercial insurance includes a very wide array of coverages and options to protect almost every part of a businesses composition.

For example, here is a partial list of coverage types that impact a business owner:

Commercial General Liability Coverage Types:

• Premises Liability
• Product Liability
• Professional Liability
  • Malpractice Insurance
  • Errors & Omissions Insurance
  • Professional Services Liability
• Completed Operations Liability
  • Construction Defects
  • Installation
• Commercial Liability Umbrella

Commercial Property Coverage Types:

• Business Buildings and Improvements
• Lessee’s Risk
• Business Contents (Personal Property)
• Business Equipment & Fixtures
• Boiler & Machinery
• Equipment Breakdown
• Builder’s Risk
• Property of Others
• Valuable Papers
• Computers & Electronic Equipment
• Glass & Signs
• Debris Removal

Commercial Vehicle Coverage Types:

• Business Vehicle Liability
  • Owned Vehicles
  • Leased/Rented/Non-Owned Vehicles
• Vehicle Physical Damages (Collision/Comprehensive)
  • Owned Vehicles
  • Leased/Rented/Non-Owned Vehicles
• Personal Injury Protection
• Towing/Emergency Road Service/ Rental Reimbursement
• Cargo Coverage

Company Defense Coverage Types:

• Crime Insurance
• Employee Dishonesty Insurance
• Directors & Officers Liability Insurance (D&O)
• Employment Practices Liability Insurance (EPLI)
• Business Interruption Coverage
• Business Income – Extra Expense Coverage
• Loss of Income or Rents
• Business Continuation – Buy/Sell Agreement
• Business Continuation – Key Man Insurance
• Business Disability

Employee Coverage Types:

• Workers Compensation Insurance
• Group Medical
• Group Life
• Group Dental
• Disability
• Retirement Income

As you can see, a business owner is presented with a dazzling array of insurance coverage selections, and he needs to recognize what each coverage can do for him, and weigh it against the cost to decide if he wants to obtain the coverage. Many insurances are mandated by the State as well as by the financial obligations that businesses place on themselves when they finance equipment, buildings or other necessities which allow them to be productive in their chosen fields of labor.

We like to discuss each of these options with each business we encounter to be sure that they are covering the things that mean the most to them.

From coverage that protects against slip-and-fall claims, to repair of buildings from fire or storm damage, to theft of equipment or inventory or business vehicles, to the coverage that cares for injured employees and their families, or to the coverage that makes it possible to continue the business if a partner dies, there are many parts to the insurance puzzle. We would love to have the chance to review your business insurance needs and see that you have all the pieces in their proper place so you are protected from the unforeseen elements that may cause losses to you. We are fortunate to have some of the best companies available to meet these needs, and would love to talk to you. Please call or email and ask for Lon.

For more information on Workers Comp Insurance visit our Hartford Business Insurance Elearning Center.