Your business is an investment. You put your heart and soul into it and you and your employees depend on it as a source or income. What if something were to happen to your business? Having the right business insurance can protect you during incidents such as: employee allegations, fire or water damage, lawsuits, or accidents to name a few.
Our commercial insurance department can help provide your business with a comprehensive overview of your business insurance needs.
No matter the business, large or small, we can customize insurance plans to suit the liability exposures of your company and get you insurance specific to your operations.
Whether you’re a start-up seeking a quote or a long-time business and would like a complimentary review of your existing coverage, you can call us at our toll-free number or reach us through our online contact form on this page.
|Vehicles||General Liability||Workers Compensation||Bonds|
|Professional Liability||Property||Umbrella||Employee Benefits|
As a business owner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel — liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the “principal insured” rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.
Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.
General Liability (Form B2)
Whether your business is a sole proprietorship, is small with a handful of employees, or is a large corporation, you’re going to need general liability insurance.
If you’re the subject of a lawsuit against your business, you can face costs from litigation, court costs and settlements. These costs can be astronomical, and without general liability insurance, would be expectedly crippling for any business.
Your general liability insurance policy can include coverage for:
- Advertising Injury (injury to a third-party brought about by the business’ advertising its goods and services. This can occur by copyright or trademark infringement. It can also occur as a claim of libel, slander, or invasion of privacy).
- Personal Injury
- Bodily Injury
- Property Damage
You’ve poured your heart and soul into your business. It is an investment, emotionally and financially. General Liability Insurance is the most universal business insurance on the market. Don’t hesitate to take the first step in making sure your business is protected.
Workers Compensation (Form B2)
Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.
Workers Compensation Insurance is designed to help companies pay these benefits. As a protection for employees, most states require that employers carry some form of Workers Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.
Do I need workers compensation insurance?
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they’re hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and business owner’s policies (BOPs) are sold as package policies, they don’t include coverage for workers’ injuries.
Bonds (Form B2)
Owning a business means taking risks. We offer a variety of bond and license services to ensure that your business is protected. While there are many Bonds from which to choose, they can be issued for an extensively wide range of circumstances, and choosing the right bond to suit your needs can be a difficult task.
The professional and knowledgeable bond specialists at Ideal Insurance Agency will work with you to develop a business solution to help meet all of your bonding goals. In addition to providing quality surety products, we also provide various licensing and permit services to ensure that your business runs to the letter of the law.
Our business solution services include:
Performance Bonds Contractor’s Bonds ERISA Bonds Fiduciary Bonds Sub-Division Bonds Court Bonds Conservator Bonds Surety Bonds Fidelity Bonds Public Officials Liquor Licenses
Professional Liability (Form B2)
In today’s litigious society, lawsuits against businesses are common. And as a business owner, you need to be prepared to protect the integrity of your company if an incident or mistake turns into a claim.
We understand that mistakes happen. That’s why we’re committed to helping you create a Professional Liability policy that keeps your day-to-day operations protected should your business be held legally liable.
What Does Professional Liability Cover?
While it’s important for your business to have general liability coverage for property damage and bodily injury, Ideal Insurance Agency recommends adding Professional Liability Insurance to your business portfolio because it insures the people and/or entities of your business from negligent claims made by third parties, or even internal sources.
From failure to render a service to malpractice suits, Professional Liability can provide a wide variety of options, such as:
Errors and Omissions Liability (E & O)
E & O covers any mistakes made by employees who work on behalf of your business, if your business charges fees for your services. It can include coverage for any errors such as failure to perform or violations of contract. Depending on your industry, your insurance needs will vary.
Directors and Officers Liability (D & O)
Having financial protection for your business’s Directors and Officers can prevent loss in the event that they are held liable from actions related to their corporate positions. This can include anything from conflicts of interest to mismanagement of company assets and violation of laws.
Fiduciary covers claims that involve the violation of the Employee Retirement Income Security Act, or ERISA. If a manager, for example, violates the financial obligations of ERISA, having the right coverage can protect your company if held liable in situations from imprudent investments to failure to enroll employees.
Employment Practices Liability
With proper insurance, your business can be protected if a worker claims that his or her rights have been violated. This can include violations from sexual harassment and discrimination to violations of the Americans with Disabilities Act (ADA), mismanagement of employee benefit plans, and wrongful termination.
Commercial Property (Form B6)
Property insurance protects against loss or damage to your business’ physical assets. That’s why business property insurance is such an important investment in ensuring the strength of your business. Whether you own your building, lease your workspace or work at home, property insurance has you covered.
A lot of things can go wrong, things you might over never planned for. A fire hits your business, and now no one can enter the building, property insurance pays to get your building back in working order. Even if that fire destroys all your office equipment it will also be covered. Let us tailor a property insurance plan that works for your business’ needs.
Umbrella (Form 6)
An umbrella insurance policy supplements your existing general liability, auto liability and employer’s liability limits. Sometimes accidents happen, but are not covered by your existing business insurance programs, with umbrella insurance you have coverage. If there is huge accident and the damages are above the limits instead of paying out of pocket we can cover you.
How much commercial umbrella insurance coverage do you need? There are factors that go into determining the answer, like the type of business you own and how much coverage you already have. Let one of our experts figure out the best plan for your business.
We are committed to health insurance for our commercial customers, who need group coverage for their employees. With the changing face of health insurance in today’s market, we are staying abreast of the latest developments that will affect the coverage you expect as well as the cost impact upon you. We have the best health insurance markets available in our area, and we will always present to our customers the best options at the best price available.
Life insurance is an integral part of many employee benefits packages. When provided by an employer, employees appreciate the value of life coverage and the additional security it provides to their families. Gilbert Insurance Group can help employers design a plan from a wide variety of optional plan designs to customize a Group Life plan.
401(k) plans are tax-deferred retirement savings plans for employees. The employer sets them up and each company has a slightly different 401(k). They are part of a family of retirement plans known as “defined contribution” plans – the amount contributed is defined by the employer or the employee.
We offer a wide variety of plans designed for your needs:
- Group Health
- Group Life
- Supplemental Insurance-AFLAC