Just as every business differs from the next, so do the insurance needs of each business. The selection of types of business insurance remains vast. Your business will not require every type of business insurance. Let DePaulo Agency of Scotia, NY help you better understand which choices best suit your business.
- Business owner’s policy (BOP): a money-saving bundle combining the four most needed policies to protect the business’ property and liability.
- Builder’s risk or Construction insurance: covers commercial buildings under construction.
- Business interruption insurance: real property insurance the pays for repairing or replacing real property damaged by a named peril plus lost income from the business interruption.
- Commercial auto: full coverage policies for the business fleet that covers each licensed driver operating a fleet vehicle.
- Crime insurance reimburses a business’s losses from burglary, theft, robbery, and other property crime.
- Debris removal insurance: covers costs of debris removal following a named peril so that construction can take place.
- Directors’ and officers’ liability policy: insures the company for the settlements of lawsuits involving the corporation’s or non-profit’s C-level officers and directors plus the attorney fees and court costs.
- Equipment breakdown or boiler and machinery insurance: covers costs of repair or replacement of boilers, machinery and other equipment plus business interruption losses.
- Errors and omissions insurance (E & O): typically carried by doctors, lawyers, manufacturing firms, publications, etc. to cover settlements when an accidental error injures a third-party.
- Glass insurance: pays for the replacement of plate glass and windows damaged by named perils.
- Inland marine insurance: pays for damage to third party property in transit and stored at the business.
- Liability insurance: pays for injury to a third party caused by the business.
- Professional liability or malpractice: pays for the settlement, business losses, court costs, and attorney fees due to injury to a third party caused by a professional failing to provide an appropriate standard of care.
- Ordinance or law insurance: pays for the demolition and reconstruction of a damaged structure that must be brought up to updated building code standards.
- Property insurance: pays for personal or real property damage.
- Tenant’s insurance: covers the repair of damage to the lessee’s building improvements made by employees of the lessee.
- Workers’ compensation insurance: pays for employees’ medical care and lost wages when they incur a workplace injury or illness.
Stop by or call DePaulo Agency of Scotia, NY today to learn more about insuring your business. We can provide the insurance policies you need to protect your business. Contact us today.