PROTECTING YOUR BUSINESS
From small to large businesses, we protect it all. We'll help you navigate the various types of coverages and help you get what you need so your business is protected. See below to learn more about the various coverages we offer.
Provides coverage for any property owned by a commercial entity. This includes business personal property as well as building coverage. You are able to cover the full replacement cost of an item/building or you can cover it as the actual cash value of the item which factors in depreciation of the items covered. This coverage can be stand alone, included in commercial package with liability or included in a business owners policy.
General liability provides your business with protection for bodily injury and property damage claims. This coverage also gives defense protection for lawsuits against your business.
A business owners policy provides comprehensive coverage to protect your business from potential issues. It includes coverage for both liability for harm your business causes others as well as any property that you own that is necessary to running your business. If you own the building you operate out of, this policy would provide coverage for that, but even if you don’t, your business property such as computers, furniture, etc. would be covered. There are enhancements available to give you extra protection for many other losses as well. Business owners insurance is available for select types of operations that qualify.
Workers compensation is a very important coverage for business owners and employees, and it is a New York State mandatory coverage. If an employee is injured while working or has a work-related illness, Workers Compensation will kick in. It will cover the medical costs, rehabilitation, and lost wages the employee incurs. Additionally, it will pay in the terrible event of a work-related death, a death benefit to the surviving family of the employee who died.
Provides wages if you are disabled by injury or illness while off the job or becomes disabled due to pregnancy. Disabled employees receive weekly cash benefits to replace the wages lost due to the illness or injury. All NY-based employers are required to provide disability benefits to all eligible employees.
Provides extra liability coverage for your business. This coverage kicks in when the costs exceed your general liability or other liability policy limits. This policy covers items such as legal fees, medical bills, damage expenses. Business owners should consider a commercial umbrella if they think the cost of a claim could ever exceed the liability limits, they have in place. An umbrella would also provide extra coverage for your commercial auto policy.
Like personal auto coverage, commercial auto provides liability and physical damage coverage to vehicles registered to a business. If one of your business’s vehicles are involved in a car accident this coverage will provide legal protection in the event of a lawsuit and also pay for any awards given to the injured party. Comprehensive and Collision coverage pays for repairs to your business’s vehicles after a covered loss minus your deductible.
Bonds, also known as "good faith and measure of integrity" are issued to guarantee that certain duties or obligations are fulfilled. Bonds are written to a specified "penalty" amount that the bonding company pays if the obligation is not fulfilled. Types of bonds include:
- License and permit
- Labor and materials
Cyber Liability provides coverage for losses due to a breach in your business’ network, and includes coverage for events such as hacking and ransomware attacks. Even if you don’t collect personal information or payment information, small businesses are quickly becoming the target of ransomware hackers who prevent you from accessing your system or files and demand payment to release them. This could take hours or days and be very costly to your business. Cyber Liability would provide coverage for this type of loss and our partner experts can help diagnose and solve this issue in a timely manner. This policy would provide coverage for the cost of the interruption of your business, as well as the cost to inform your clients of the breach.
Directors and Officers liability (also known as D&O) protects the personal assets of directors or officers if they are personally sued for any wrongdoing while they are serving as officers for a corporation or on a board of directors. We believe this coverage should be considered by all businesses, no matter the size of the corporation or non-for-profit organization.
Directors and Officers insurance covers:
- A corporation's directors and officers when the company cannot compensate the individuals
- A corporation when it compensates the individuals
- Coverage allocation between directors and officers and the insured organization
Professional Liability/Errors and Omissions Coverage protects businesses and their employees for any mistakes or inaccurate professional advice given to their customers that causes harm or loss to them. It also would cover negligence on the business or any employees.
Liquor liability insurance covers businesses or events that serve alcohol to an intoxicated person. If that person causes bodily injury or property damage to others, the establishment that served them could be found liable. This policy would provide protection to the policyholder.