Business INsurance
Proper insurance is important for the protection of your business assets and for ensuring operations continuity should the unexpected occur. Weather events, accidents, or lawsuits can negatively impact your revenue and livelihood, and because your suppliers, customers, and employees depend on your business operating as normal, these events can affect them as well. Our experienced agents will help you select a commercial policy that properly fits your business to protect it from the unexpected.
General liability: Offers protection in the event that you, your employees, your products, or your services cause bodily injury or property damage to a third party, such as a customer or vendor.
Professional Liability: In most cases, general liability will provide adequate coverage. In other cases, you may need additional protection against potential business errors. This type of insurance is sometimes referred to as Errors & Omissions Insurance and typically applies to businesses that provide specialized services, such as CPA’s, Financial Advisors, Photographers, Dentists, and Doctors.
Building Coverage/Property Damage: Provides protection for your business property and equipment, including computers, office equipment and more, as well as covering the structure in which the property is housed.
Business Interruption: Coverage to pay your expenses in the event that a loss/claim prevents you from opening your doors for a period of time.
Employee dishonesty: This coverage exists to help you regain lost funds or merchandise if employee theft should occur.
Commercial Auto
If you use a vehicle at work to transport employees, products, or equipment, you’ll need separate auto coverage in addition to your Commercial Business Policy. Commercial Auto Policies function much like a personal auto policy and will cover the vehicle for personal use outside of business hours. Commercial Auto Insurance covers the cost of accidents involving business-owned vehicles, including damage to a company vehicle and bodily injuries when you or your employee cause an accident. It also protects against physical damage (comprehensive coverage) while the vehicle is parked (ex. theft, vandalism, fire, flood). Higher limits may be needed if the nature of your work includes hauling considerable weight of tools/equipment or towing a trailer used.
Liability: Required in the state of Tennessee and Mississippi, this coverage protects someone else’s property if your vehicle causes damage.
Collision: The most common need for collision coverage is when you hit something with your vehicle, causing damage to property owned by you or someone else.
Comprehensive: This covers loss or damage due to fire, vandalism, theft, or nature.
Uninsured/Underinsured motorist: Your vehicle could be damaged by someone who doesn’t have any insurance, or doesn’t have enough to cover the damage. Not required, but we strongly recommend it.
Medical payments: This is also optional, but recommended. It covers reasonable injuries you and your passengers sustain in a car accident, no matter who is at fault.
Worker’s Compensation
Required for Tennessee and Mississippi employers with 5 or more full or part-time employees, worker’s compensation is a separate policy from your commercial business policy. Worker’s compensation provides coverage for lost wages, medical expenses, and rehabilitation costs to employees who are injured or become ill as a result of employment in exchange for mandatory relinquishment of the employee’s right to pursue legal action against their employer for negligence. Worker’s compensation also pays benefits to families of employees in the unfortunate event that an employee suffers a fatal injury on the job. Each state has its own respective workers’ compensation insurance laws.
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