Insurance for your business needs
Every commercial vehicle probably has some exposure to automobile liability or physical damage as a normal part of its operations. Business Auto Coverage provides valuable protection for your commercially owned vehicles, as well as for "hired/non-owned" including rentals, loaners or leased vehicles. This comprehensive auto liability and physical damage coverage for commercial risks also has three counterparts the garage policy, the truckers policy and the motor carrier policy.
Insurance to protect you against lawsuits
Unfortunately, for every business owner, the chances of getting sued have dramatically increased. General liability insurance can prevent a legal suit from turning into a financial disaster. Commercial General Liability Coverage Forms are extremely broad in nature. Each insures the bodily injury liability, property damage liability, and completed operations exposure of a variety of commercial businesses, enterprises and ventures. The broad nature of these forms eliminates having to select and group individual or specific hazards, with the resulting potential gaps in coverage.
Insurance for employee injuries and illnesses
Workers' compensation provides the mandatory benefits prescribed and required by the various state laws for accidental work-related injuries that occur in the course of employment, subject to its terms and conditions. It must be emphasized that the injury must arise from and be related to the injured worker's job duties. Coverage also applies to the related costs for disease or death that occur as a result of the accident. The concept behind workers' compensation is that employees relinquish their right to sue employers if they suffer a job-related injury or illness.
Inland Marine Insurance
Inland marine insurance began as an extension of ocean marine insurance. Many customers needed coverage for property that moved on land between the dock and the final inland destination. The item was not yet a traditional property exposure because it was not at a specific or described location. Inland marine insurance coverage was developed to meet the need for insurance coverage on property in transit on or over land and not at fixed locations.
Inland marine insurance includes various policies that are available to cover your equipment and materials in the field, as well as computer equipment. Most business personal property policies limit the amount of coverage that is available for those types of exposures. These policies are normally written on an "all risk" basis subject to routine exclusions.
Builders' Risk Insurance
Builders' risk policies cover a building or structure throughout the course of construction. The coverage is on an Inland Marine policy form where the coverage's are extremely broad, and is subject to limited exclusions. Coverage includes theft and vandalism of materials and supplies from the moment it is delivered to the job site. Protection would include materials in-transit at temporary locations. Determining the limit of insurance can be the key in keeping a builder in business.
Builders' risk coverage is available for use by any party having a financial interest in a building or structure being constructed or renovated. Any such party may be a named insured under builders' risk coverage. The party can be the building owner alone, the building contractor alone or the building owner and the building contractor jointly. It includes any type of building under construction, regardless of the intended occupancy after construction is complete. The builders' risk coverage provided must end when construction is complete or when the building or structure is put to its final or intended use.