Commercial Insurance: Property
What We Offer
Building coverage applies to described structures and includes fixtures, machinery and equipment that are owned by the building owner, attached to a covered building, and permanently installed. Such related property may be covered by endorsement when it is not permanently installed. Business personal property coverage may be written to cover all contents and personal property belonging to the insured, located as described, for a specified amount of insurance.
Inland and Ocean Marine
This division of insurance is designed for specific classes of property of concentrated high value that are, generally, subject to risks associated with movement and transportation as well as theft and causes of loss to which most business personal property is vulnerable.
Business Auto coverage insures vehicles that are owned, leased, hired or borrowed by businesses, whether they are associations, corporations, partnerships or sole proprietorships. Business Auto coverage may be used to insure private passenger autos and all types of trucks, trailers, semitrailers and commercial vehicles designed for use on public roads.
Business Owners Policy
This policy is designed like a commercial homeowners policy. It provides property, liability, inland marine, crime and hired/non-owned auto in one neat package. While customization is permitted the options are fairly limited when compared to the commercial package policies.
• Questions & Answers •
What is General Liability?
General Liability provides coverage if you are liable for damages to other individuals arising from your premises, general operations (ongoing and after completion) and products manufactured or sold.
Why do I need certificates of insurance from sub-contractors?
An audit may require you to show proof that sub-contractors had their own insurance coverage. The sub-contractors' certificates of insurance will prevent you from being charged for their exposure.
How does an audit work?
At the end of the policy term, the insurance company will review the policy and either charge or credit the policyholder based upon an audit of estimated figures. Examples of estimated auditable items include sales and payroll. Audits can be performed onsite by an auditor or via mail or telephone. A premium is charged for audit estimations.
Does my policy cover physical damage to a vehicle I rent?
This damage will be covered only if that type of coverage is purchased.
Do you need additional insurance coverage if you drive a private vehicle for business?
Most personal auto insurance policies will exclude business use of your personal auto. So the answer is you most likely will need a seperate business auto policy if you are using your auto for business. There are a few exceptions to this. Some personal auto insurance policies do have a business use class that was intended for the accountant, lawyer, counsultant type who drives from client to client all day long. Or possibly even a real estate agent might find coverage on the personal auto policy. Each insurance company has different rules on what types of "business use" they will tolerate.