Protecting your livelihood with JMD
What are my commercial insurance needs?
Every business owner knows they need commercial insurance. It is critical in protecting company vehicles and buildings, activities and, of course, employees. But how can you be sure you are getting all the coverage your business needs at the best possible price?
At JMD our agents are trained to help. As an independent agency, we are set up to work for YOUR business, not any one provider. This means the best, most comprehensive commercial coverage, tailored to your company’s unique size and needs, at the lowest possible price.
Types of coverage:
Broadly speaking, there are four major types of commercial insurance to consider. Here are the basics on each type and when you’ll need them.
Commercial Auto Insurance
- As with personal auto policies, commercial auto policies can cover liability, comprehensive and collision coverage, rental reimbursement and roadside assistance.
- Policies can be tailored to cover cars, trucks, fleets of cars/trucks and other vehicles.
- In general, if a vehicle is used to perform business-related tasks beyond commuting (like delivering pizzas, hauling equipment or transporting passengers), some form of commercial auto insurance is needed.
Commercial Building Insurance
- Similar to homeowners insurance, commercial building insurance protects your building(s) and their contents against damaging losses.
- Policies can be tailored to cover all types of businesses, from offices, boutiques and restaurants to body shops, gyms and warehouses. Ask us about saving money by covering commercial vehicles within your commercial building policy.
- If you own your company’s building(s), you’ll need commercial building coverage.
General Liability Insurance and Business Owner’s Policies
- There’s no avoiding it, simply by doing business your company takes on exposure to possible claims and lawsuits. General liability insurance provides a blanket of liability coverage against common torts faced by small business owners.
- Policies cover third party suites for:
- Bodily injury: should anyone be hurt on your company’s property
- Property damage: should you or your employees damage anything while working
- Advertising/personal injury: should you face a lawsuit for libel, slander or copyright infringement
- Every small business owner needs a general liability policy. Some businesses may also require a ”BOP,” or business owners policy. BOPs include general liability, property and business interruptions insurance.
Workers Compensation Insurance
- As a business owner you are responsible for the risk your employees take on in doing their jobs. This means you need coverage should an accident occur while a staffer is working.
- Workers compensation insurance or “workman’s comp” covers work-related injuries or illnesses ranging from slip-and-falls to car accidents to death. Coverage can help to cover a range of expenses including medical bills, lost wages, rehabilitation, death and funeral costs and accident-related legal fees.
- Every small business owner needs workman’s comp coverage. Our agents can help you determine just how much is needed.