Category: Commercial Insurance

Businesses grow and change all the time, which means that, at some point, you might need to modify your commercial insurance policies. While your policies are contracts, they are not completely set in stone. An insurance endorsement can add, take away, or exclude certain types of coverage. While some endorsements are added by your insurance…

When shopping for commercial insurance, it can seem like the choice of insurance companies is endless. There is so much you need to learn about each company, including whether they are “non-admitted” or “admitted.” These two terms relate to how insurance carriers are classified and the regulations they must follow. The differences between the two…

When reading your commercial insurance policy, you might come across the term “waiver of subrogation.” Waiving subrogation rights means that your insurance company will be prohibited from “stepping into your shoes” and suing a negligent third party. Many companies will require a waiver of subrogation from a business that performs work on their behalf. Since…

Unfortunately, workplace accidents and injuries happen. When they do, it can be very costly for a business. If one of your employees is injured on the job, they can claim workers compensation benefits to help pay for their medical expenses, lost wages, and disability benefits. These benefits will be provided by the employer’s (your) insurance…

If you own a business, commercial insurance is a must. Depending on the type of business you own, you could need a number of different commercial policies. Having all of these different policies can come with a hefty price tag. The bad news is there’s no getting around having commercial insurance; just one mistake could…

You have probably heard or read about something like this in the news- a large company is hacked, leading to a major data breach. For example, not too long ago, big box store Target was the victim of a hacker, and thousands of customers had their sensitive information exposed. Fortunately for big companies like Target,…

One of the first steps in getting your business up and running is making sure it is insured. Once it is fully insured, you can rest easy knowing that your hard work is protected in the event of any mistakes, damages, or other liability issues. But it is important to remember that insurance is an…

The terms claim and lawsuit are often used interchangeably, but they have very different meanings and affect your business in very different ways. If you own a business, it is important to know the difference so that you can handle each situation properly, both in regards to the individual who is making a complaint against…

It is easy to find cheap commercial insurance, but, more likely, a cheap plan will not provide the coverage that your business needs. If a policy is a lot less expensive than others, there is usually a reason: most cheap plans do not cover what  other policies do. Saving money by cutting corners will just…

Insurance terminology can be confusing, you’re a business owner, not an insurance expert. It can be difficult to differentiate between terms, but it is crucial to understand the differences in order to ensure that you are getting the right coverage, and that you are in compliance with your plan’s conditions. For example, there are two…

When you own a small business that offers advice or services, there’s always a risk of lawsuits due to errors and omissions. Even if you have done your job to the best of your ability, something can still go wrong. Sometimes customers just aren’t happy with your work, and they could decide to sue your…

Having commercial insurance is important for your business. The right coverage mitigates any financial risks and protects you in case of any unexpected events. To make sure that your business has adequate insurance coverage, you need to review your commercial insurance policies annually, rather than just allowing them to automatically renew. Using a business insurance…

Running a small business often means finding ways to save money. One way that many small business owners do this is by leasing their property rather than buying it. There are multiple reasons to go this route: for example, not only will your initial investment be less when you rent property, but renting your property…

Having enough commercial property insurance coverage is crucial to protecting your business. Whether you’re choosing to insure the actual cash value (ACV) or the replacement value of your real property (your building) and business personal property (everything in it), you need to purchase a policy that will cover as much as possible in case disaster…

If your business is really taking off, and you’ve decided to expand, then you’ll need to start thinking about updating your commercial insurance policies. When you first started your business, you purchased the right amount of commercial insurance, but as your business grows and changes, so do your insurance needs. The last thing you want…

If there’s one thing that can really wreak havoc on your business property, it’s water. Flooding, heavy rains that come with hurricanes, and burst pipes can all cause serious damage and cost you a lot of money in repairs and lost income. In fact, water damage is the second most common commercial insurance claim type,…

Wouldn’t it be great if insurance was simple, and your policies were written in plain English? An accident wouldn’t be called a “coverage trigger” and you wouldn’t have to scramble to figure out if your policy was “claims-made” or “occurrence based.” Not to mention all that fine print about how flooding is only covered if…

Sometimes it feels like big corporations get all the breaks. They have the money and the leverage to get the best deals on everything. But small businesses like yours are what make up the backbone of our economy. In fact, did you know that over 99% of U.S. companies are considered small businesses, and over…