In our last post, we talked about how to protect your business against third party claims of bodily injury and property damage. If you missed, you click here to read that post.
Let’s talk about ways to ensure that you round out your business’s protection.
Commercial Auto Liability
If your business owns vehicles or you or your employees use your personal vehicles in the course of your business, you have any kind of advertisement on your vehicle or you are hauling materials to job sites, your General Liability policy likely contains an exclusion for commercial auto liability. Consider a commercial auto policy to protect your business.
Coverage to protect your employees from injury or illness while on the job. Employees are one of your business’ biggest assets. And injury or illness to them, could mean that they are out of work for a period time with no way to support their families. Worker Comp coverage, not only protects your business from a financial loss, it allows your injured employee to recover without the burden of medical expenses and replacement of their lost of income. Make sure that you as the owner are also covered in your workers comp policy.
Your General Liability policy will not cover loss to things like: your office furniture, electronics, tools and equipment. Your home insurance has very limited – if any – coverage for your business property and a high deductible. You need commercial property coverage or a contractors tools and equipment policy.
If you or your employees make a mistake in the course of your work, your professional liability coverage will help cover the ensuing loss. Things like: violating your contractual obligation to your your customer, providing advice that causes your customer financial harm, or failure to deliver a product or services as promised might be covered with a professional liability. And yes – even contractors need this coverage.
Insurance is complex but you don’t have to go at it alone. Leal Insurance Service can help you navigate the ins and outs of insurance to make sure that your business is properly protected.
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This information is provided to assist you in understanding the coverage being offered and does not modify the terms and conditions of any insurance policy, nor imply a claim is covered. Specific coverage terms vary by class of business. See your policy for full details