Trucking Insurance Coverages in Chesterfield Virginia | (804) 638-9024

The Insurance Advisor Can Shop for the Best Insurance Protection at the Right Price

Trucking Insurance Coverages in Chesterfield Virginia | The Insurance Advisor | (804) 638-9024Virginia and the Federal Motor Carrier Safety Administration have specific insurance requirements for tractor trailers. Some coverages are required by law, like primary liability, and others, such as physical damage coverage, are just smart to have.

The Insurance Advisor is a leader in providing all-inclusive programs for Trucking Insurance Coverages in Chesterfield Virginia.  Our licensed agents have more than 60 years combined experience with automobile liability, general liability, physical damage, motor truck cargo, and workers compensation insurance.  As a business owner who relies on transportation for a living, we understand the importance of having the right insurance in place.

The Insurance Advisor can help you protect your source of revenue, with coverages designed for professional truck drivers and trucking operations. We offer transportation insurance for most types of trucks, including Box trucks, Semi trucks, Flatbed trucks, Front loaders, Tank trucks, Tractors, Dump trucks, Auto hauler trailers, Garbage trucks, Pickup trucks, Flatbed trailers, and more.

Because trucking is a unique industry, insurance carriers offer different types of risks.  Our agents have access to multiple carriers that offer exclusive coverages and options to choose from. We can shop your insurance for you and find a company that is competitive with your specific insurance situation.

Trucking Insurance Coverages in Chesterfield Virginia include:

Trucking Insurance Coverages in Chesterfield Virginia | The Insurance Advisor | (804) 638-9024General Liability Insurance covers damages to another person resulting from an accident you cause.  Coverages Include:

  • Bodily Injury and Property Damage Liability
  • Personal Injury and Advertising Injury Liability
  • Medical Payments
  • Products / Completed Operations
  • Damage to Premises Rented to You – Note: Coverage available for 7 days or less

Primary Liability Insurance – covers the damage you might do to other people or property.  Primary Liability Insurance does not cover you or your truck, theft or bodily injury.  Click here to learn about the minimum amount of primary liability insurance that is set by the Federal Motor Carrier Safety Administration.

Motor Truck Cargo Coverage – provides insurance on the goods hauled by a For-hire trucker. It covers your liability for cargo that is lost or damaged due to causes such as fire, collision, or striking of a load. If you are in an accident, commercial cargo insurance will pay for destruction or damage to the load that is being carried.

Removal Expense Coverage  – protects you if your load is accidentally dumped on a roadway or waterway. The coverage pays for the cost to remove debris or extract pollutants caused by the debris.

Sue and Labor Coverage  – pays for costs related to preventing further loss to damaged cargo, legal expenses in the defense or settlement of claims.

Earned Freight Coverage – pays for the freight charges the customer loses because of not delivering a load.

Our agents will sit down with you to discuss the different Trucking Insurance Coverages in Chesterfield Virginia and help you determine what best meets your situation.  Additional coverages include:

  • Trailer Interchange
  • Medical Payments
  • Uninsured Motorist
  • Workers Compensation
  • Trucking Umbrella
  • Physical Damage
  • Bobtail Insurance and Non Trucking Liability Insurance

As a business owner, you want to be sure to get the best value for your money. And to get the best value, there are actions you can take to prove to the insurance companies you are a responsible driver and/or business owner. Detailed record keeping will not only help the business owner stay organized, but will give you the upper hand when searching for the best insurance rates.  Nonetheless, best practices for a trucking company should include maintaining a list of vehicle types, vehicle uses, recording the mileage of each vehicle and the distance each vehicle travels each year.

As your partner in business, The Insurance Advisor is dedicated to providing you with the right transportation insurance solutions. Whether you are an owner-operator or manage a full fleet,  give us a call for a free consultation on your trucking business.

(804) 638-9024

Additional Resources:

Virginia Department of Transportation

Virginia Department of Motor Vehicles

Virginia Trucking Association

Virginia Department of Insurance

Federal Motor Carrier Safety Administration

Click here for the Virginia Trucking Guide.

Transportation and Livery Insurance | (804) 638-9024

The Insurance Advisor Offers Transportation and Livery Insurance Coverages. We Tailor Insurance Packages that Protect Your Source of Income.

Watch the video for more information!  Click here to contact us now or call (804) 638-9024

 

Chesterfield Virginia Business Insurance

Do You Need a BOP or CPP for your Chesterfield Virginia Business Insurance?

 

 

Chesterfield Virginia Business Insurance | The Insurance Advisor® of Chesterfield | (804) 638-9024There are two types of Chesterfield Virginia Business Insurance policies available in Virginia.   The Business Owners Policy or BOP and the Commercial Package Policy or CPP.  These two types of policies are explained below.

Insurance for Different Business Types

On the right sidebar of this page, we have include links to a number of business insurance resources.  Click on any of the different business types to learn more about the insurance coverages for that type of business.   Please call one of our commercial insurance agents at The Insurance Advisor® of Chesterfield for any assistance.

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Business Insurance Chesterfield Virginia

Protect What You’ve Worked So Hard To Achieve

Business Insurance Chesterfield Virginia | The Insurance Advisor® of Chesterfield | (804) 638-9024Your Business is Your Dream. Ensure You Protect it.  Don’t get stuck in a rut searching online for ” Business Insurance Chesterfield Virginia ” –  not everything you read will meet your business insurance needs!  The Insurance Advisor® of Chesterfield will breakdown the facts and provide you the resources you need to understand business insurance and help you make the best choice, for the best price.

As a business owner, you want to have the confidence that the business you’ve built is covered in the event of loss. Partnering with The Insurance Advisor® of Chesterfield to handle your business insurance coverage needs can keep you focused on your business. The Insurance Advisor® of Chesterfield offers several options for business owner’s protection and we have the resources to customize a tailored Business Owners Policy (BOP) for your business. A BOP includes general liability, property coverage, contents coverage, and products. Other business insurance needs may also include worker’s compensation, commercial auto insurance, errors and omissions, builder’s risk, cargo, vacant property, bonds and special events.

Keep in mind, if your business services include counseling clients on legal, tax or other advisory topics, a BOP does not cover professional liability, auto insurance, workers’ compensation, health or disability insurance – all of which need to be purchased separately. Other businesses may have particular risks that will require more customized coverage than what’s included in a standard BOP.  For example, a jewelry store has different risks that a home-based business.

If we determine your business does not qualify for a BOP, we will move onto Commercial Package Insurance Policy (CPP) options.  CPPs can be issued to include almost any type of coverage offered, from property and liability to auto, crime, inland marine and professional liability. When your business risks goes beyond the coverages in a BOP, the flexibility offered by a Packaged Policy provides the opportunity to design a policy specifically for the needs of an organization. It also enables you to have almost all your coverage in one convenient package.

Most Commercial Package Insurance Policies offer expanded coverage endorsements. These endorsements provide additional coverages or increase the base current coverages for lower premiums than purchasing each coverage separately. We know this all sounds so confusing, this is why we encourage you to contact one of our licensed agents to discuss your options.  Our trained staff knows the right questions to ask to ensure we meet the needs of our customers and protect one of their most valuable assets.  We know you work hard, let us work for you!

During your business review with one of our professional agents, we will go through your insurance requirements step by step.  After we have determined whether you will be better insured by a Business Owner Policy or a Commercial Package Insurance policy – we’ll then review your property.

Property insurance coverage protects small business owners from losses of damage to physical space or equipment and as a result of theft. For insurance purposes, a business’ property includes the physical building in which it resides, as well as its other assets.  With property insurance you can buy either actual cash value or replacement cost insurance. Actual cash value insurance reimburses you for the value of lost, damaged or stolen goods after depreciation is taken into consideration. Replacement cost insurance reimburses you the amount it would take to replace, rebuild or repair damages with materials of similar kind and quality, without deducting for depreciation.

All of the following, owned or leased, can be considered business property:

  • Business Inventory
  • Furniture and Equipment
  • Computers and Electronics
  • Artwork and Antiques
  • Signs and Outdoor Property Not Attached to a Building

Now, to take it one step further, there are three types of property insurance plans.  We know this decision can be a daunting, and yet very confusing endeavor.  It doesn’t have to be!  Our professional staff will help you through this process and determine the best business insurance needs for your business, and at the right price.  The three types of property insurance plans are described below:

Business Insurance Chesterfield Virginia: Basic form property insurance includes losses resulting from a fire, lightning, windstorm, hail and explosion, plus the cost of removing property to protect it from further damage.
Business Insurance Chesterfield Virginia: Broad form property insurance includes basic plus extended coverage for other types of perils, such as a roof collapse (e.g. caused by snow or iceBusiness Insurance Chesterfield Virginia | The Insurance Advisor® of Chesterfield | (804) 638-9024 etc.
Business Insurance Chesterfield Virginia: Special form property insurance includes basic and broad, and covers all direct physical losses except conditions specifically excluded as listed in the policy.

 

The next item we will discuss includes any automobiles you may use for your business.  This can include delivery trucks, fleet vehicles (limousines), and company provided cars, to name a few.  All motorized vehicles, whether used for personal or business purposes, need auto insurance. While the types of coverage provided by personal and commercial auto insurance policies are essentially the same, there are important distinctions. Typically, commercial auto insurance policies have higher liability limits. They also may have provisions that cover rented and other non-owned vehicles, including employees’ cars driven for company business.

Several factors related to ownership and use of vehicles determine whether a personal or commercial policy is appropriate. These include:

  • Who owns or leases the vehicle – you individually or the business as an entity
  • Who drives the vehicle – you or your employees
  • How the vehicle is principally used – for example, transporting people, delivering packages or carrying hazardous materials

We will discuss these matters with you and make the best decision based off of your needs for collision and comprehensive coverage to protect yourself against damage to your vehicle.

For more information about your business insurance needs, contact us today to schedule a free consultation.

 


________________

Why Choose The Insurance Advisor® of Chesterfield?

We’re committed to outstanding customer service

We start by offering the best insurance products at a reasonable price. But it’s the The Insurance Advisor® of Chesterfield team that really set us apart from the competition. With combined experience of 60 years, our sales and support staff members can handle your transactions quickly and efficiently. We service each and every account using out team of insurance professionals and we’re always available to answer your questions.

We’re committed to professionalism

Our dedication to client service comes from a culture of professionalism and respect. All of our associates at The Insurance Advisor® of Chesterfield have strong credentials and all of our policies are presented to you in a consistent and professional manner.

We’re committed to solving problems quickly

The Insurance Advisor® of Chesterfield has unique industry relationships, allowing us to provide exclusive insurance solutions to our customers. Additionally, every staff member is trained to actively listen and provide helpful answers presented in a way in which our policy holders clearly understand.

We’re committed to earning and maintaining your trust

We believe trust is something earned by listening to our customers while providing helpful advice and support. Trust and consistent underwriting practices is what we expect from our carrier partners, and in return we owe the same level of service to you.

Business Insurance Arnold MO

What Type of Business Insurance Do You Need?

Business Insurance Arnold MO | The Insurance Advisor® of Chesterfield | (804) 638-9024

Business owners may not understand the importance of business insurance, and may not have the time or understanding to ensure they have the best protection based on their needs and risks. If you have been searching ” Business Insurance Arnold MO ”  look no further!  The Insurance Advisor® will review your policy and make recommendations based off your needs. If you’re business owner, and not sure what kinds of coverage you need to protect your company assets, contact The Insurance Advisor® – we can help!

Regardless of your situation, you’re on the right track in your quest to compare business insurance and protect all of your assets. One of the best ways to get the coverage you need is to work with an independent agent at The Insurance Advisor®.  We have several offices that serve the Arnold Virginia area.  Our agents work with multiple insurance companies that specialize in commercial insurance, which means you can get every aspect of your business insurance coverage handled through one professional, and gain an understanding of your needs.

So, what types of business insurance do you need?  The most common types of business insurance coverages include general liability insurance, commercial property insurance, commercial automobile insurance and workers compensation insurance.

Your specific situation might also require that you purchase additional coverage to meet your business risks. The additional coverage types you may need will depend on the nature of the work you do and include professional liability insurance, product liability insurance, business income insurance, cyber liability insurance and business interruption coverage to name a few.

What Is the Best Business Policy for Your Company?

The first step is to assess your risks by doing an analysis of your business and then review your current commercial insurance prices and policies.  Your specific needs will be based on your company’s size, type and value, as well as the type of work you do.  For example, does your company provide internet services? Does your company deliver goods or services in their personal vehicles?  Do you serve food or alcohol?  Do you offer professional advice that could result in a liability claim? Do you have a building or other property that could be at risk for fire or severe weather damage?

Identifying your risks and the coverages needed will help determine which insurance company will meet your insurance needs for the best value.

The Insurance Advisor® will review policies and options and compare insurance prices from several different insurance providers. The following are a few things we will consider to provide you complete protection:

  • Will the liability coverage limits provided adequately protect your business assets?
  • Does the policy offer adequate risks coverage areas for your business activities?
  • Are the premium rates competitive within the business insurance market?
  • Is the coverage deductible appropriate for what you can afford to pay in the event of a claim?
  • Does the insurer have a strong financial standing and few customer complaints?

No two insurance companies are the same, and when you compare business insurance you’ll quickly find that no two policies are the same either. You may find you need a little assistance when evaluating insurance companies and plans to ensure you purchase coverage that is customized to your business.

Business Insurance Arnold MO: The Business Owners Policy

A business owner policy (BOP) is often the most convenient way of protecting your business’s physical and financial assets  The BOP combines building, personal property and liability insurance coverage into one package.   The BOP is an efficient way to provide Virginia commercial insurance coverage that most small businesses need.

Does your business qualify for a BOP

The two keys to BOP eligibility are type of business and square footage. General examples:

  • apartment buildings
  • office buildings
  • buildings used primarily for mercantile, service or processing purposes
  • wholesalers
  • contractors
  • mixed use, e.g., stores in an apartment building.

Business Insurance Arnold MO: The Commercial Package Policy (CPP)

The Virginia commercial Insurance Package Policy can be issued to include almost any type of coverage offered, from property and liability, to auto, crime, inland marine and professional liability and more.  When your business risks goes beyond the coverages in a BOP, the flexibility offered by a Packaged Policy provides the opportunity to design a policy specifically to fit the needs of your business.  It also enables you to have all or almost all of your insurance coverage in one convenient package.

Most commercial insurance policies offer expanded coverage endorsements. These endorsements provide additional coverages or increase your current coverages for lower premiums than purchasing each coverage separately.  After assessing your business risks and determining that a package policy is what you need, we will design a custom insurance package policy with specific coverages to meet your business needs.Business Insurance Arnold MO | The Insurance Advisor® | (804) 638-9024

Use The Insurance Advisor® to assist your in your search for ” Business Insurance Arnold MO .”

It can be time-consuming to compare the commercial insurance products of several different companies, and this is how we can help you!  Our expert agents can find the best business coverage at an affordable premium rate.

Working with an The Insurance Advisor® agent means you can leave the price comparison shopping to us!  We represents multiple high-quality Virginia Insurance Companies like Travelers, Safeco, EMC, Kemper Preferred, Progressive, The Hartford, West Bend, Chubb and dozens more. We will provide a number of business insurance policy options to you and make sure you understand every aspect of your coverage. You’ll benefit from our agent’s knowledge and guidance while still serving as the final decision-maker.

Scary Rising Virginia Insurance Prices

 What To Do About Rising Virginia Insurance Prices?

 

 

Do Not Be Afraid!

Call The Insurance Advisor

A Virginia Independent Insurance Agency

The Insurance Advisor is a full service Virginia Independent Insurance Agency with locations in Richmond, Petersburg, and Chesterfield Virginia.  We represent many top-rated Virginia insurance companies and can find the best coverage for the price.  You get the best value for the Virginia insurance coverages you need.

For our clients’ convenience, our Insurance Agents are available in and out of the office and during non office hours.  Yes,  we give our clients our cell phone numbers. We also answer our office phone–no multi-layered prompts.  We are dedicated to providing the most exceptional and timely customer service in the industry.

 

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A few Virignia Insurance Companies we represent include:  AIC,  Allied,  Anthem,  Arrowhead,  Augusta Mutual,  Blue Cross Blue Shield,  BTIS, CNA,  Dairyland,  Donegal,  Encompass,  Foremost,  Grange,  Hagerty,  Humana;  Kemper,  Main Street,  Lincoln Financial,  Mercury,  MetLife Auto & Home,  Mutual of Omaha, NetComp,  Safeco,  Starr DoveTail, Tapco,  The Hartford, The Tower Group,  Titan,  Travelers,  and many more.

 

Access Risks    Shop Companies    Save Money
“We Do The Shopping For You”

For Your Business

Our Virginia Business Insurance offerings include products and risk management services–we are your full service Virginia insurance solution–from commercial property and casualty to employee benefits–we have you covered.  There is no need to have multiple agencies to provide the Virginia Commerical Insurance coverages and services for your business.

For Your Personal Life

Our Virginia Personal Insurance and Financial Services offerings also include insurance products and risk management services–we are your full service Virginia insurance solution–from auto, home, boat, RV, motorcycle, and power sports to health, life, and fixed annuities–we have you covered.  There is no need to have multiple agencies to provide the Virginia insurance coverages and financial services for your personal needs.

The Best Value and Customer Service 

The Insurance Advisor agents combine years of experience and top-rated companies and products to provide exceptional service and value to our clients.  Our trained, professional staff will do the research, analysis, and shopping for you.  You save time and money and get the best value for the Virginia insurance and services you need.

Call or visit our office today for a free, no obligation risk assessment and quote.

 Let us do the research and find the best value for the Virginia insurance you need.

Chesterfield Virginia Workers Comp Business Insurance

Employers have the legal responsibility of paying for the job-related injuries of their employees

To ensure your business carries sufficient workers compensation coverage, turn to The Insurance Advisor® of Chesterfield, a full service Independent Insurance Agency representing many of Virginia’s premier personal and commercial lines insurance carriers.  Our agents specialize in Chesterfield Virginia Workers Comp Business Insurance and will ensure you have the best Workers Comp Business Insurance coverage that meets your needs.

Our well-trained insurance agents know how to match the laws with the workers compensation coverage that is required in Saint Louis and Jefferson counties including Chesterfield, High Ridge, Arnold, Imperial, Valley Park, Ballwin, Eureka, Pacific, House Springs, Hillsboro, Sunset Hills, Crestwood, Manchester and St. Clair, Virginia.Chesterfield Virginia Workers Comp Business Insurance | The Insurance Advisor® of Chesterfield (804) 638-9024

Employer funded insurance pays for Job Related Illnesses—Exposure to Chemicals, Radiation and Pollution at the Workplace, Job-Related Diseases—Which Occur over a Long Range of Time That Relate to Heart, Lung and Digestive Problems, Job-Related Injuries—Accidents and Repetitive Actions That Result in Injury.  Contact The Insurance Advisor® of Chesterfield to review your policy and make sure you have the right protection.

Chesterfield Virginia Workers Comp Business Insurance does not cover Injuries resulting from Alcohol or Drug Injuries, Injuries an Employee Does to Himself or Herself, Injuries That Occur While off the Job and Not Related to the Job.

Workers compensation insurance protects the employer and employee in Chesterfield Virginia.  Workers compensation pays for the cost of injuries and illnesses employees acquire while on the job, whether they are performing the job on or off premises in Chesterfield Virginia. Job related injuries or illnesses can be costly and it is wise to carry sufficient workers compensation insurance coverage.

For the employer, workers compensation covers liability from lawsuits and claims that happen on or for the job. For the employee, workers compensation pays for medical care from work-related accidents or illness.

Employees have the right to sue and employer if a business does not carry workers compensation insurance. So, it is important to provide workers compensation coverage, as well as to make sure employees know that.  The state requires employers to post notices in places where employees easily can notice and read the information.

Businesses with employees are required by law to pay for certain types of insurance: workers’ compensation insurance, unemployment insurance, and, depending on where the business is located, disability insurance.

Businesses with employees are required to carry workers’ compensation insurance coverage through a commercial carrier, on a self-insured basis, or through the state Workers’ Compensation Insurance program. Visit your state’s Workers’ Compensation Office for more information on your state’s program.

Businesses with employees are required to pay unemployment insurance taxes under certain conditions. If your business is required to pay these taxes, you must register your business with your state’s workforce agency.  The Insurance Advisor® of Chesterfield agents can help steer you in the right direction.

Each job injury is unique and requires a proper time to heal.  If an employee works with an attorney, he/she will be encouraged not to rush back to work and perhaps request to be put on light or full duty until they are healed completely. Some of the most common injuries include the following:

Back Injuries                                     Herniated Disks & Neck Injuries

Brain Injuries                                     Knee Injury Compensation

Amputation                                       Rotator Cuff & Shoulder Damage

Paralysis                                          Permanent Total Disability

Hand & Wrist Injuries                        Cases Involving Death

Employees who have been injured on the job may also request financial compensation for lost wages, damages for permanent injuries (either total or partial), vocational rehabilitation assistance and/or death benefits for the families of workers killed on the job.

 


Why Choose The Insurance Advisor® of Chesterfield?

We’re committed to outstanding customer service

We start by offering the best insurance products at a reasonable price. But it’s the The Insurance Advisor® of Chesterfield team that really set us apart from the competition. With combined experience of 60 years, our sales and support staff members can handle your transactions quickly and efficiently. We service each and every account using out team of insurance professionals and we’re always available to answer your questions.

We’re committed to professionalism

Our dedication to client service comes from a culture of professionalism and respect. All of our associates at The Insurance Advisor® of Chesterfield have strong credentials and all of our policies are presented to you in a consistent and professional manner.

We’re committed to solving problems quickly

The Insurance Advisor® of Chesterfield has unique industry relationships, allowing us to provide exclusive insurance solutions to our customers. Additionally, every staff member is trained to actively listen and provide helpful answers presented in a way in which our policy holders clearly understand.

We’re committed to earning and maintaining your trust

We believe trust is something earned by listening to our customers while providing helpful advice and support. Trust and consistent underwriting practices is what we expect from our carrier partners, and in return we owe the same level of service to you.

_____________________________________________________________________________________

Personal Insurance Coverage for Different Needs

On the right sidebar of this page, you will find links to a number of personal insurance resources.  Click on any of the different personal insurance coverages categories to learn more about specific insurance issues and coverages.   Please call one of our insurance agents for any assistance.

The Best Business Insurance: BOP or CPP?

 Business Insurance: Do You Need a BOP or CPP ?

There are two types of business insurance policies available in Virginia.   The Business Owners Policy or BOP and the Commercial Package Policy or CPP.  These two types of policies are explained below.

Insurance for Different Business Types

On the right sidebar of this page, we have include links to a number of business insurance resources.  Click on any of the different business types to learn more about the insurance coverages for that type of business.   Please call one of our commercial insurance agents at The Insurance Advisor for any assistance.

The Business Owners Policy

This policy is intended for main street businesses and combines building, personal property, and liability insurance coverage with other attractive options into one package.   The BOP is an efficient way to provide the business insurance coverages that most small businesses need.

Are You Eligible for a BOP?

The two keys to BOP eligibility are type of business and square footage. General examples:

  • apartment buildings
  • office buildings
  • buildings used primarily for mercantile, service or processing purposes
  • wholesalers
  • contractors
  • mixed use, e.g., stores in an apartment building.

Square footage guidelines can relate to overall building space or a business’s rental space. Generally, the cutoff for BOP eligibility is 25,000 square feet; however, this varies between business insurancecompanies.  We will determine if a business is eligible for a BOP and if the BOP option is the best value.

BOP Coverages

Business Insurance Personal Property Coverage

Business personal property coverage can include:

  • a building owners’ business personal property in an apartment building
  • office business personal property
  • business personal property for merchants, wholesalers, and service or processing organizations
  • commercial condo unit owners.

When you own a building, the same BOP must cover both the building and the business personal property. Otherwise business personal property can be insured alone in a BOP. This is good for businesses that lease or rent space.

Different BOP Forms

The BOP named peril form will:

  • have coverage for a dozen or so perils such as fire, lightning, windstorm and hail, sprinkler leakage, and vandalism
  • usually cost less.

The Special peril form will:

  • have coverage for all risks of direct physical damage except as limited in the policy
  • have broader coverage than one setting forth specific perils.

Additional Coverages

By nature, the Special form has more coverages built in. The Standard form has approximately a dozen additional coverages.  Among these are:

  • debris removal
  • counterfeit money orders and paper currency
  • increased cost of construction
  • forgery exterior glass and lettering (this includes replacement and repair of items on the outside of the building, commonly advertising-related materials)
  • collapse and water damage.

Don’t worry, we’re not ignoring loss of business income and extra expenses from a direct insured loss. Frequently a loss from a fire or other insured peril goes beyond the direct damage caused by the fire. Even minor damage can close your business for a long time. This means your business has no income to maintain salaries and other expenses. Don’t ignore loss of income protection!

* Tip. Business interruption coverage is not a luxury.

Coverage Extensions

Recall that extensions are an opportunity for you to have certain property covered after a loss. Extensions are controlled by:

  • a limit on expendable dollar amounts
  • an after-the-fact additional premium, or
  • a territorial restriction.

The ISO BOP’s make provisions for the following:

  • newly acquired property
  • personal property off-premises
  • outdoor property personal effects (non business property)
  • valuable papers and records
  • collapse and water damage.

Coverage is limited in these areas. You may need specific insurance to cover one or more of these extension areas for your business.

Exclusions & Conditions

Exclusions and conditions are common in insurance policies. BOP’s are no exception. You’ll find some exclusions and conditions from policy to policy, regardless of the type of insurance. Conditions are normally procedural matters and loss adjustments. Exclusions are matters the insurance is not designed to cover.

Note. Remember an insurance policy must be read as a unit, not as independent paragraphs or sections.

“One policy does not fits all business insurance needs.”  Business  insurance needs are all different.  Everyone has a different type of property, amount of property, location, ownership, and so on. Your insurance coverage protection should closely reflect your risk of loss.   This customized approach allows you to save money– you pay for only the insurance you really need.

 

The Commercial Package Policy

The commercial Package Policy can be issued to include almost any type of coverage offered, from property and liability to auto, crime, inland marine and professional liability.  When your business risks goes beyond the coverages in a BOP, the flexibility offered by a Packaged Policy provides the opportunity to design a policy specifically for the needs of an organization.  It also enables you to have almost all your coverage in one convenient package.

Most policies offer expanded coverage endorsements. These endorsements provide additional coverages or increase your current coverages for lower premiums than purchasing each coverage separately.  After assessing your business risks and determining that a package policy is what you need, we will design a custom insurance package policy with specific coverages.

Here are a few main coverages included in most packages:

Protection for Your Commercial Property

Commercial property coverages:

  • buildings, including additions under construction, permanently installed machinery and building glass
  • business personal property
  • leased business personal property used in your business
  • property of others left in your care for which you are legally liable
  • sales samples

Your business personal property doesn’t stay in one place, and neither does your coverage.  Most policies cover your business personal property while in transit, at trade shows, or temporarily at locations you don’t own or lease.

After a covered loss, your policy may pay for the extra costs of:

  • removing debris of covered property from your premises
  • cleaning up pollutants from land and water on your premises
  • taking inventory and preparing claims statements
  • securing appraisals
  • recharging fire extinguishers

A property loss can slow down or even stop your operation until repairs are made – and that may mean lost income. You receive several business income coverages that can reimburse your loss of income and necessary extra expenses you incur to keep your business operating after a covered loss.

Options to Suit Your Needs

  • Ordinance or Law Coverage – provides coverage for the necessary demolition of the undamaged portion of your building and subsequent upgrades to meet current building codes after a covered loss.
  • Inflation guard coverage – provides coverage for inflationary increases in your building and business personal property values. The limit of insurance on your policy automatically increases at the annual percentage rate you choose.
  • Equipment breakdown coverage– provides coverage for loss resulting from the sudden and accidental breakdown of machinery and equipment used in your business.
  • Utility services – provides coverage when a covered loss to a power, communication or water utility interrupts service to your premises, which then causes a covered loss to your building, business personal property or loss of income.
  • And Many MoreContact us for a detailed risks assessment and insurance proposal.

 

The Insurance Advisor, LLC  is a full service Independent Insurance Agency that represents many top-rated companies.  We assess risks and shop companies to find the best coverage for the price.  Our clients get the best value for the insurance they need.

A few of the companies we represent include:  Travelers, Safeco, Main Street, Metropolitan, Mercury, Lincoln Financial, Dairyland, Titan, Victoria, Foremost, Arrowhead, Alfa Vision, CNA, Zurich, Kemper, Augusta Mutual, Anthem, Mutual of Omaha, and many more.

Call, request a quote by email, or visit us at our office today for a free, no obligation risk assessment and quote.  Let us do the research and find the best value for the Insurance you need.