As a business owner, you know more than anyone how important it is to protect what you have worked so hard to build. Many types of companies are required to have certain levels and types of insurance, but it’s still a good idea to be covered even if it is not mandated. Insurance Advisors Agency, Inc. can help you with the following types of commercial policies:
- Commercial Property – Covers damage to your business property and products stored on the premises.
- Commercial Liability– Covers damages to third parties.
- Commercial Auto – Similar to a personal auto policy, but has different coverage for business use of your vehicles.
- Worker’s Compensation – Covers injuries to your employees.
- Surety and Fidelity Bonds – Covers fraudulant acts or provides a promise to pay if an obligation is not met.
- Commercial Umbrella – Covers in excess of your other commercial policies.
- Special Event Insurance – Covers your liability exposure and property for a variety of special events – including trade shows.
Additionally, a “Business Owner’s Policy”, commonly called a “BOP”, combines certain coverage into one policy to make things easier for you. Please give us the opportunity to look at what type of business you have and recommend what types of coverage that are right for you.
Commercial Property protects your business against the loss or loss of use of company property. Company “Property” includes many types including: buildings, computers, money, inventory, machinery, valuable papers, and lost income or business interruption.
Liability insurance is intended to protect business owners from claims that may come from a third party. Liability could stem from accidents, failure to meet contractual obligations, manufacturing defects, and other sources. There are many factors that determine the rates for liability insurance. The limit of liability (often one, two, or three million dollars), the risk factors associated with your type of business, gross receipts, and total payroll expenses.
A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. You may need a commercial auto policy if your vehicles are owned by a corporation, used in hauling goods for hire, or if the vehicles have a high gross vehicle weight.
Workers’ compensation insurance protects business owners and employees from claims resulting from on-the-job injuries. It protects your business from lawsuits while also providing employees with compensation if they are injured while working. By law, most employers are required to provide coverage for lost wages and medical bills incurred as a result of accidents or illnesses incurred while on the job.
Surety and Fidelity Bonds
We can help when it comes to Contract Payment and Performance Bonds, Fidelity Bonds on Employees, Code Compliance Bonds, Judicial and Court Bonds, and Professional Service Bonds. Just give us a call and we will shop around to get you the best rate we can offer.
Most package policies provide a liability insurance limit of $1 million for any one loss and $2 million aggregate. If these limits feel too low for your real economic security, you should consider a commercial umbrella policy. It can provide additional layers of protection in million-dollar increments.
Special Event Insurance
Special Event insurance can ensure that you are covered for unexpected occurences during a corporate event, a concert, local trade show, and even your wedding! You may even be required to purchase event insurance if you are setting up booth space at a vendor fair. Contact us at (970) 255-8240 and we will make sure you are covered no matter what may happen on the big day!