Commercial Liability Insurance
We offer commercial liability insurance packages that are tailored for different types of businesses. Whether it is insurance for your building, business property, equipment, inventory or company vehicles, we offer products and services to protect your business. In addition, we offer group health and retirement plans.
Commercial Property Insurance
Commercial Property Insurance covers the risk of property loss in a variety of commercial situations, including commercial buildings, equipment, furniture, fixtures, inventories, business records, supplies and other physical items. Property Insurance may cover two types of property losses:
- Direct losses may be covered when property is lost, stolen, damaged or destroyed.
- Indirect or consequential losses related to direct losses may also be covered.
Casualty Insurance consists primarily of liability coverage, which protect an insured party against injury or damage claims made by other parties.
Policies provide coverage for liability arising out of:
- Premises and Operation
- Fire Damage Liability (damage by fire to premises rented to insured)
- Personal and Advertising Injury
- Medical Payments
- Products/ Completed Operations
You may want to consider a Business Owner’s Package which combines your Liability, Property, and other types of coverage into one comprehensive policy. This can help you save time and money on your total commercial liability insurance program. And since we live in an age of million-dollar lawsuits, you may also want to add extra liability protection in the form of a Commercial Umbrella Policy. Contact us today for more information; we can tell you more about these plans and if they make sense for you.
Business Auto Insurance
Our commercial vehicle insurance covers automobiles that are owned, leased, hired, or borrowed by businesses, whether they are associations, corporations, partnerships, or sole proprietorship. Business auto insurance may be used to insure private passenger autos and all types of trucks, trailers, semi-trailers, and commercial vehicles designed for use on public roads. We can give you more details about specific coverage and deductibles, and about tailoring an auto plan that is right for you and your business.
Workers Compensation Insurance
Workers Compensation Insurance coverage applies to bodily injury and diseases arising out of and in the course of employment. Any bodily injury must be accidental, and the term includes death resulting from the accident. Only occupational diseases, which are unique to the occupation, are covered. Workers Compensation Insurance provides for the payment of four types of benefits:
- Medical benefits
- Income benefits
- Death benefits
- Rehabilitation benefits
A representative can provide you with complete details on Workers’ Compensation Insurance and recommend cost-effective ways to control expenses through safety engineering and claim services.
Commercial Liability Insurance for Non-Profit Organizations
Non-profit organizations should consider getting commercial liability insurance in case it is sued. It should also consider property insurance to pay for loss of things it owns. A business owner’s policy, a package that includes both, is sold at discounted rates that may make it a good deal even if the organization owns nothing more valuable than its files. An organization with employees may be required by law to have Workers Compensation Insurance and may want it even if not required.
Professional Errors & Omissions (E&O)
While General Liability Insurance is primarily focused on property damage or bodily injury, errors and omissions insurance, also called Professional Liability Insurance, protects you if a client claims that your services caused them to suffer financial loss.
Many professional services companies choose to purchase E&O insurance policies, which are typically issued in increments of $1 million and have per-claim deductibles ranging from $1,000 to $25,000.
Some insurance companies are reluctant to issue professional liability policies, while others specialize in policies for specific professions. Because Altus Insurance Group has access to multiple insurance carriers and is able to work with a wide range of small business professionals, we know how to find E&O insurance coverage that is comprehensive and yet fits your small business’s budget.
It’s important to note that almost all professional liability insurance policies are sold on a “claims-made” basis. This means that the insurance only covers work performed while the policy is in force, and for claims actually filed during the term of the policy. If you cancel your E&O insurance policy without arranging for an extended reporting period, your coverage would end and any claims submitted after the cancellation would not be covered, even though the work was performed while the policy was in effect.
It’s also important to know that there are exclusions in every E&O Insurance policy. Before you purchase this type of policy, you’ll want to think about the most dangerous threats and professional risks for your business and look for a plan that covers those specific risks.
A surety bond is defined as a contract among (1) the obligee or the recipient of the an obligation, (2) the principal or the party who will perform the contractual obligation, and (3) the surety who assures the obligee or recipient that the principal can actually perform said contractual obligation. It is basically a guarantee that a business will perform its obligations and comply with state and federal regulations.
Risk management insurance is a type of insurance policy purchased by companies and organizations in an effort to limit any potential damages to their activities. These damages can be infrastructure-based or economic and are generally identified internally or externally by the enterprise.