Business Insurance

Commercial property insurance covers damage to property owned by a business. This coverage may pay out to business owners in the event of damage or loss due to such factors as fire, theft, vandalism and weather.

General liability insurance, sometimes called business liability insurance, covers third-party allegations of bodily injury, property damage, and personal and advertising injury against your business. For example, if a visitor to your business is hurt, general liability would pay for their bodily injury and your defense costs if they decided to sue. Personal and advertising injury provides coverage for claims such as libel, slander, copyright infringement and more.

Commercial auto insurance works similarly to personal auto insurance and offers much of the same coverage, including comprehensive, collision, liability and medical payments coverage. Instead of insuring personal vehicles, though, it insures vehicles owned by a business, or used by that business for work purposes. In most cases, personal auto insurance policies do not cover vehicles owned by a business, so it’s important for businesses to ensure they have appropriate coverage.

Commercial umbrella insurance offers an extra layer of liability limits when other policies such as business auto and general liability limits have been reached due to claims. This coverage is important for protecting your business from the financial impact of large claims.

Builders risk insurance provides coverage to structures that are being built, as well as equipment and materials located at the job site. Though this type of insurance is most commonly purchased by the contractor, there are circumstances under which the responsibility for the coverage lies with the building owner. A builder’s risk insurance policy protects against fire, explosions, severe weather, theft, vandalism and more, providing peace of mind on the job site.

As commercial property insurance protects physical assets, cyber liability insurance protects electronic assets from cybercriminals. Cyber liability insurance may cover data breaches, phishing scams, malware infections, ransomware attacks and more in the interest of limiting the financial impact of cyberattacks.

Management liability insurance is designed to protect a business’ managers – directors, officers, C-suite, etc. – from lawsuits and other financial harm brought by employees, competitors, contractors and clients. This may also include crimes committed by employees, such as theft or forgery.

Employment practices liability insurance protects your business against such employment-related legal claims as discrimination and wrongful termination. Litigating employment-related claims can be very expensive, so an employment practices liability policy offers a means of defraying those costs.