Business Owners Insurance Defined

What is business owners insurance anyway? Business owners is actually the many different types on insurance that we put together to fit the needs of your business. There is no one size fits all answer. Please come visit us in person or give us a call (435) 752-0101 and we can see what risks your business has and find the types of business owners insurance that is right for you. Because we are independent of any one insurance carrier we can provide you with exactly the business insurance you need.

GENERAL LIABILITY

General Liability protects businesses from lawsuits and similar claims arising from an insured’s liability.  It covers damage or injury caused by negligence during business operations.

PRODUCTS & COMPLETED OPERATIONS

Mistakes get made on the assembly line and accidents happen during construction.  Product liability provides coverage for legal liability a manufacturer incurs for producing or selling a faulty product. Completed operations covers the liability incurred by a contractor for property damage or injuries that may happen to a third party once contracted operations have ceased or been abandoned. This is applied to construction products or the manufacturing of consumer goods and medicines.

BUILDING & PERSONAL PROPERTY

Your property is valuable.  This policy covers direct physical damage or loss to your commercial building and its contents.  Fire, theft, vandalism, wind, hail – we cover it all.

This does not include earthquakes or floods.  Separate policies cover those issues.

WORKERS COMPENSATION

When there’s an on-site accident, you can be held liable.  Workers compensation insurance provides payments to injured workers on the job, regardless of who is at fault.  It covers lost time from work, wage replacement, and medical and rehabilitation services.

CONTRACTORS EQUIPMENT

Construction is expensive.  Don’t let damage or loss of equipment raise the prices even further.  This policy covers equipment and tools at construction projects and job sites. The coverage follows the equipment from one jobsite to the next and while in transit. It protects against theft, vandalism, fire, windstorm, and typically flood and earthquake as well. Coverage is provided on a scheduled and/or unscheduled basis, at your option.

DIRECTORS & OFFICERS

This liability insurance is payable to the directors and officers of a company or organization.  It covers losses in the event that the insured faces legal action for an alleged wrongful act.

BONDS

Sometimes things just go wrong.  Although you do your best to be honest, but you can’t always control every person who works for you.  Surety Bonds protect you against losses resulting from a failure to meet contractual obligations. Fidelity Bonds cover the policyholder for losses that incur as a result of any fraudulent acts by specified individuals or loss caused by dishonest acts of its employees.

EMPLOYMENT PRACTICES- EPLI

This type of insurance policy protects business owners against suits dealing with wrongful termination, sexual harassment, discrimination, emotional distress, etc.  You hope these never come up, but if they do, it’s good to have a little backup.

ERRORS & OMISSIONS

It’s always best to be on the safe side.  This liability coverage protects businesses from claims of negligence or failing to perform professional duties or services.  Potential causes that wouldn’t be covered by general liability if legal action is needed fall under this policy.

LOSS CONTROL

A consultant works to survey your business to find effective ways in controlling loss from possible accidents, exposures, etc. Our management practice looks to reduce a possible loss and/or lessen the severity of a loss if it occurs by developing safety recommendations within the business, property, and for employees.

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