Business & Commercial Insurance

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Business Commercial Insurance
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Business Commercial Insurance Information
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Commercial Auto
As a business owner, you need 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. In fact, many business
people use the same vehicle for both business and
pleasure. If the vehicle is owned by the
business, make sure the name of the business
appears on the policy as the "principal insured"
rather than your name. This will avoid possible
confusion in the event that you need to file a
claim or a claim is filed against you.Whether
you need to buy a business auto insurance policy
will depend on the kind of driving you do. A good
insurance agent will ask you many details about
how you use vehicles in your business, who will
be driving them and whether employees, if you
have them, are likely to be driving their own
cars for your business.
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General Liability
If you have a personal umbrella liability policy,
there's generally an exclusion for
business-related liability. Make sure you have
sufficient auto liability coverage.Unfortunately
for every business owner, the chances of getting
sued have dramatically increased in the last
decade. General Liability insurance can prevent a
legal suit from turning into a financial disaster
by providing financial protection in case your
business is ever sued or held legally responsible
for some injury or damage.General Liability
pays losses arising from real or alleged bodily
injury, property damage, or personal injury on
your business premises or arising from your
operations.
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Workers Compensation
Workers compensation laws were created to ensure
that employees who are injured on the job are
provided with fixed monetary awards. This
eliminates the need for litigation and creates an
easier process for the employee. It also helps
control the financial risks for employers since
many states limit the amount an injured employee
can recover from an employer.Workers
Compensation Insurance is designed to help
companies pay these benefits. As a protection for
employees, most states require that employers
carry some form of Workers Compensation
Insurance. 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
a very good idea, particularly if you have many
employees, or if they are engaged in hazardous
activities.
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Do I need workers compensation insurance?
Employers have a legal responsibility to their
employees to make the workplace safe. However,
accidents happen even when every reasonable
safety measure has been taken. To protect
employers from lawsuits resulting from workplace
accidents and to provide medical care and
compensation for lost income to employees hurt in
workplace accidents, in almost every state,
businesses are required to buy workers
compensation insurance. Workers compensation
insurance covers workers injured on the job,
whether they're hurt on the workplace premises or
elsewhere, or in auto accidents while on
business. It also covers work-related
illnesses.Workers compensation provides
payments to injured workers, without regard to
who was at fault in the accident, for time lost
from work and for medical and rehabilitation
services. It also provides death benefits to
surviving spouses and dependents.
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Contact Us
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