Workers' compensation insurance protects employers from claims resulting from injuries to employees. It protects your business from lawsuits and provides employees with compensation for on-the-job injuries.
By law, most employers are required to provide coverage for lost wages and medical bills incurred as a result of on-the-job accidents or illnesses. For many businesses, this coverage is the largest part of its insurance expense.
Contractor's General Liability insurance is for residential and commercial builders, general contractors, construction managers, design and build firms, specialty contractors or subcontractors, owners or public and private construction projects.
We offer contractor policies for every type of project:
- Property - Contractor Insurance
- Builders Risk Insurance - Commercial Auto
- Liability Insurance - Umbrella
- General Liability Insurance - Workers' Compensation
- Equipment Insurance - Contractor Bond
Most package policies provide a liability insurance limit of $1 million for any one loss and $2 million in any one year. For many businesses, this is inadequate for real economic security. As a result, additional layers of protection in million-dollar increments are readily available in today's insurance market for most businesses.
Business Owners Package, commonly called a "BOP" contains many of the insurance coverages needed by most small businesses. While these policies are not standard, there is great variation from insurance company to insurance company; there are certain common elements. The basic BOP offers business property for both building and contents, and liability insurance protection for the operation of your business. This liability protection will generally include both the operation of your business, at its established location, and the liability from your products or completed operations.
Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP policies do not contain all of the coverages needed by a small business. Notably they do not cover any workers' compensation, professional liability, or business vehicle coverage.
A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. it is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances.
We work with many of the country's top-rated surety companies to secure:
- Contract Payment and Performance Bonds
- Fidelity Bonds on Employee
- Code Compliance Bonds
- Judicial and Court Bonds, including estate guardianship and repletion bonds
- Professional Service Bonds
The general or public liability policy protection for claims of liability that are made by third parties. The policy provides defense protection even if the allegations are groundless. In addition the policy will pay any judgment up to the policy limit of coverage.
Professional liability insurance, also sometimes referred to as Errors and Omissions, is insurance to protect you and your company in the event a client alleges they have suffered a financial loss as a result of an error or an omission committed by you in the delivery of your professional services. Professional liability coverage is separate from a General Liability policy which would cover you mainly for bodily injury or property damage liability.
Normally, it is difficult for businesses or general contractors to work without general insurance. General Liability insurance is intended to guard operators and owners of companies from claims that may come from a broad spectrum of sources. These exposures could be just about anything, including liability engendered by accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.
The liability you select, whether it is one, two or three million dollars, determines the cost of general liability insurance. Also factored into the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general liability insurance, you will first have to make a down payment and then follow it up with installments.
It is the business owner's or general contractor's job to make sure that the people working under him/her are covered by an insurance policy.
Commercial Property protects your business against the loss or loss of use of company property. "Property" can include a variety of types: lost income or business interruption, buildings, computers, money and valuable papers.