Commercial Insurance

 

Business owners should carefully consider their commercial insurance needs, which offer a range of vital protection related to the business. From vehicles to property and the employees within the business, owners can safeguard their investment and lessen the risk of a scenario affecting its growth and presence. The following areas represent some of the primary commercial insurance needs that any business should approach.

 

 

BUSINESS OWNER PACKAGE (BOP)
 

A businessowners policy, also known as BOP insurance, combines various insurance coverage with additional protection into one convenient package.

If you’re not sure what coverage is right for your business, or have not considered a BOP, learn how a BOP insurance policy from Nationwide can protect your business. 

Do you need a businessowners policy (BOP)?

   A BOP insurance may be right for your business if:

Your business is located outside of your home

You have fewer than 100 employees and less than $5 million in sales

You have property or equipment you need to protect

You want to protect investments you've made in your business

What does a BOP cover?

Commercial Property

General Liability

Business Income

Equipment Breakdown

 

 

Commercial Auto Insurance
 

A vehicle that is used within the context of business must have its own policy; a personal car insurance policy is not enough, as it won’t cover items that relate to business. If your business uses vehicles to perform routine or even occasional operations, a commercial auto policy is a must.

Below are some of the coverages included in a commercial auto policy

Bodily injury liability coverage – pays for bodily injury or death resulting from an accident for which you are at fault and provides you with a legal defense.

Property damage liability coverage – provides you with protection if your car accidentally damages another persons property. It also provides you with a legal defense.

Combined single limit (CSL) – Liability policies typically offer separate limits that apply to bodily injury claims for property damage. A combined single limits policy has the same dollar amount of coverage per covered occurrence whether bodily injury or property damage, one person or several.

Medical payments, no-fault or Personal Injury Coverage – usually pays for the medical expenses of the driver and passengers in your car incurred as a result of a covered accident regardless of fault.

Uninsured motorist coverage – pays for your injuries and, in some circumstances, certain property damage caused by an uninsured or a hit-and-run driver. In some cases, underinsured motorist coverage is also included. This is for cases in which the at-fault driver has insufficient insurance.

Comprehensive physical damage coverage – pays for damage to or replacement of your car from theft, vandalism, flood, fire, and other covered perils.

Collision coverage – pays for damage to your car when it hits or is hit by another object.

 

 

Commercial General Liability Insurance (CGL)

 

Every business needs to protect themselves from accidents or injuries that may occur on their business grounds. General Liability insurance coverage can protect your Indiana business from these unexpected expenses.

A typical policy will cover those accidents or damages that occur on-site or as a result of using goods or services sold by the company. In addition, coverages can be designed to cover additional costs like attorney fees or court costs.

Most businesses need general liability insurance to protect themselves against:

 
Lawsuits, investigations and settlements
Medical damages, attorney fees and Injury damages
Abuse coverage for liability
 
Just keep in mind that the following typically aren’t protected:
 
Employee injuries
Auto-related coverage
Intentional acts
 
 
Commercial Property Insurance
 

A commercial property insurance policy could be thought of as a commercial version of a homeowners policy. Commercial property insurance can protect your business against everything from a minor hiccup to a major loss.

 
For example:
A fire could destroy your building and the contents inside
A burst water pipe could damage valuable documents
A storm could damage your outdoor sign
 

Whether you own your freestanding building, lease an office or work at home, business property insurance protects your business' physical assets.

Commercial property insurance helps ensure the future of your business. It helps protect:

                             Your building                                                            Your outdoor sign

                             Your furniture and equipment                                   Your building

                             Your outdoor sign                                                     Your furniture and equipment

 

 

Workers Compensation
 

Workers that are hurt on the job can rely on workers compensation for lost income and medical expenses. This coverage is commonly required by employers, and it often extends to temporary employees as well.

A serious workplace injury could financially devastate your business. Many small businesses can’t afford to pay medical bills out of pocket, whether it’s treatment for carpal tunnel syndrome or a broken leg.

Coverage and benefits can be obtained for the worker no matter who is at fault. For those workers injured in the workplace, medical expenses and income replacement may be necessary. Our network of companies and experienced agents can analyze your insurance needs. By contacting us today, we can assist and guide you through these complicated steps.

 

 

 
Errors and omissions

 

Errors & Omissions (E&O) insurance is a form of liability coverage that protects your business from claims of professional negligence. Considering the fact that these cases can be lengthy, the potential cost to the business can sometimes be catastrophic.

Even suits with no merit that are filed can damage your business if you're not protected. We don't leave you to fend for yourself. We'll help you evaluate your E & O protection on an ongoing basis to make sure you have the right policy at the right price for your particular business needs.

Some of the categories or professions that typically protect themselves from Indiana E & O risks are:

                                           Consultants                                           Financial Advisors

                                           Architects                                              Real Estate Appraisers

                                           Brokers & Agents                                  Attorneys

 

 
Professional Liability
 

Professional Liability Insurance or PLI is a form of liability insurance necessary to help protect businesses in the service or consultant industry. A claim of negligence can be very damaging to a growing business and if the claim results in monetary damages can be catastrophic.

We have the experience and expertise to evaluate the risks associated with your service or consultative related business or profession in Indiana and provide appropriate coverage through one of our highly rated insurance companies.

Professional Liability Insurance covers potential losses that are not typically covered with a general liability policy. Some of the businesses / professionals we help are:

                                            Insurance Agents                                                Consultants

                                            Brokers                                                                Lawyers                                                     

                                            Engineers                                                            Accountants

                                            Medical Professionals

 

 

Give us a call today and let us help you find the right coverage for your business or profession.