Business Insurance
Commercial/Business Auto
As a business owner, you need to have the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel — liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. Many business owners use the exact vehicle for both business and personal. If the company owns the vehicle, make sure the business’s name appears on the policy as the “principal insured” instead of your name. This will avoid possible confusion on the occasion that you require to file a claim or a claim is filed against you.
Whether you need to buy a company auto insurance plan will depend upon the driving you do. Our representatives will ask you many details about how you use vehicles in your company, who will be driving them and whether employees if you have them, are likely to be driving their own cars for your business.
While the significant coverages are the same, a business auto policy differs from a personal auto policy in many technical aspects. Ask Plemons Insurance Sales Professionals to describe all the differences and options.
Commercial General Liability
Unfortunately for every business owner, the chances of getting sued have significantly increased in the last decade. Commercial General Liability insurance can prevent a legal suit from transforming into a financial catastrophe by providing financial protection if your business is ever sued or held legally responsible for some injury or damage.
Commercial General Liability pays losses from actual or alleged bodily injury, property damage, or personal injury on your company premises or arising from your operations.
Broad Range of Commercial General Liability Protection
- Bodily injury, including the expense 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 delivered.
- Products Liability is a more specialized product liability insurance that protects your business against lawsuits from product-related injury or mishaps.
- Contractual Liability extends to any liability you may assume by participating in a variety of contracts.
- Other coverage consists of 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 And Marketing Injury; and specialized liability protection for specific business types.
Workers Compensation
Workers Compensation laws were developed to guarantee that employees who are injured on the job are provided with set monetary awards. This eliminates the requirement for litigation and creates a more straightforward process for the employee. It also helps control employers’ financial risks since many states limit the amount an injured employee can recover from an employer.
Workers Compensation Insurance is designed to assist businesses to pay these benefits. As security for employees, most states require that employers carry some Workers . Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be an excellent idea, particularly if you have many or are engaged in hazardous activities.
Do I require workers compensation insurance?
Companies have a legal responsibility to their staff members to make the work environment safe. However, incidents happen even when every sensible safety measure has been taken.
To protect companies from lawsuits resulting from workplace accidents and to offer medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, companies are required to buy workers compensation insurance coverage. Workers settlement insurance coverage covers employees injured on the job, whether they’re hurt on the workplace premises or elsewhere, or in auto accidents while on company property. It also covers work-related illnesses.
Workers settlement provides payments to injured employees, without regard to who was at fault in the accident, for time lost from work, and for medical and rehabilitation services. It also supplies death benefits to making it through partners and dependents.
Each state has different laws governing the amount and timeframe of lost cash flow benefits, the provision of medical and rehabilitation services, and how the system is administered. For example, in most states, there are regulations that cover whether the worker or employer can choose the physician who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and company owners policies (BOPs) are offered as package policies, they don’t include coverage for workers’ injuries, but many providers will bundle the policies together for better protection for your business. Call, e-mail, or complete a quote request form to schedule time with our Professional Sales Agents.