Business & Commercial Insurance

Commercial Auto

The car you use for your business requires the same coverages as a car you would use for personal travel. These coverages include:

• Liability

• Collision

• Comprehensive

• Medical payments (known as personal injury protection in some states)

• Coverage for uninsured motorist

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. Whether you need a business auto insurance policy can depend on how you use vehicles in your business, who will be driving them and whether employees are likely to be driving their own cars for your business.

General Liability

If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.

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 protects against:

• Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury

• Property Damage coverage for the physical damage to property of others or the loss of use of that property

• Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided

• Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents

• Contractual Liability extends to any liability you may assume by entering into a variety of contracts

• Other coverage includes: Reasonable Use of Force; Borrowed Equipment; Liquor Liability; Non-Owned Vehicles (such as aircraft and watercraft); Fire, Lightning or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types

Workers Compensation

Workers compensation insurance covers workers injured on the job as well as work-related illnesses, without regard to who was at fault in the accident, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It pays for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.

Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.

Do I need workers compensation insurance?

In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities. Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered.