Commercial or Business Insurance covers many different aspects of your business. Commercial exposure is broad and the type of insurance and coverage is very important. The most common types of Commercial Insurance policies are:
Commercial Auto - Covers liability, property damage, medical payments, uninsured motorist, collision and comprehensive. Unlike a Personal Auto Policy, Commercial Auto policies can carry higher single limits of liability (Up to $1,000,000). There are additional discounts available for small or large fleets (5 or more vehicles).
GL (General Liability) - General Liability typically cover bodily injury, property damage, personal injury (libel or slander) and advertising injury.
BPP (Business Package Policy) - Broad coverage options Including liability, products and completed operations, fire legal liability, medical payments, business contents, loss of income, Inland Marine coverage, employee dishonesty and more.
Workman's Compensation - Pays for medical care and benefits to employees for injuries sustained on the job. May also pay benefits to dependents of employees killed by occupational accidents (Mandatory for employers in California).
John Alsop Insurance Agency offers a variety of commercial insurance. The most common types of commercial insurance are property insurance, liability insurance, and workers' compensation.
In general, property insurance covers damages to your business property; liability insurance covers damages to third parties; and workers' compensation insurance covers on-the-job injuries to your employees. Liability insurance covers injuries that you cause to third parties. If someone sues you for personal injuries or property damage, the cost of defending and resolving the suit would be covered by your liability insurance policy. A general liability policy will cover you for common risks, including customer injuries on your premises. Workers' compensation insurance covers you for an employee's on-the-job injuries. Businesses with employees are required by various state laws to carry some type of workers' compensation insurance. In most cases, workers' compensation laws prohibit the employee from bringing a negligence lawsuit against an employer for work-related injuries.
Depending on your business, you may want additional specialized coverage. An example of specialized coverage would be business interruption insurance. Business interruption insurance covers lost income and expenses resulting from property damage or loss. For example, if a fire forces you to close doors to your business for three months, the business interruption insurance would reimburse you for salaries, taxes, rents, and the net profits that would have been earned during the three-month period.
John Alsop Insurance Agency also offers crime insurance. Crime insurance covers theft, burglary, and robbery of money, stock, and fixtures from employees and outsiders.
Products offered: Corporate auto, service trucks, construction trucks, back hoes, limousine, taxi, mid-size trucks, bobtails, apartments, retail skip malls, office buildings, Home Owners Associations, Inland Marine, Workers Compensation, and many others.
Please refer to your policy for specific definitions of coverage and limitations or exclusions. Our Agency represents multiple insurance companies and all policies vary as to coverage, terms, conditions and restrictions or exclusions. We are always available to discuss specific questions you have about any of insurance products we offer. Call us today.
Disclaimer: Insurance coverages and discounts are subject to availability and qualifications. Other terms, conditions, limitations, and exclusions may apply.