A Business Insurance Overview
We know that choosing the right commercial insurance is an important decision. Our agency has the experience to market your insurance and provide you with options for your business. Whether you are a storeowner, distributor, office professional, or wholesaler, you need insurance to protect your business against the unique risks and exposures you face. The right insurance allows you to tend to your business with confidence that it is protected. Here are the types of insurance you should consider when selecting and designing your business insurance:
General Liability—Covers third party liability claims from a customer or visitor on your premises, or who may be injured by your business activity or product.
Example: A customer slips on your driveway, trips on your steps, or injures himself on your premises, or customer is injured because of your product or service.
Business Property Insurance—Insures your building and contents, both on and off premises.
Example: A fire destroys your entire building and equipment.
Employee Dishonesty Coverage—Protects your company from financial loss resulting from employee theft of money, securities, or property.
Example: An employee steals money from your company.
Workers Compensation—Provides compensation for your employees for medical care in the event they are injured on the job, including medical benefits, income benefits, death benefits, and rehabilitation benefits.
Example: You own a delivery company, and an employee is injured while making a delivery.
Business Auto—Provides insurance coverage for your company’s cars, trucks, trailers, vans, or other vehicles.
Example: You’re a beverage distributor making a delivery in the company van when another vehicle runs a stop sign and hits you.
Non-Owned Auto Coverage—Protects the company for vehicles owned or used by others (such as an employee) that are used in the business of the company.
Example: One of your deliverymen is driving his personal automobile to make a delivery and hits another vehicle. This results in a lawsuit against your company.
Professional Liability—Covers you for the failure to perform professional services. If you design something or perform work which does not meet standards or expectations, you could be sued for the cost of the contract, damages, or lost business revenues by your customer.
Example: You are an architect and one of your buildings has developed a mold issue due to poor roof design.
Business Interruption Insurance—Provides protection from loss of income and extra expense if your business suffered a loss and you were unable to operate for a period of time.
Example: A major storm hits and your restaurant is completely flooded. You have to close for a month to repair all of the damage.
Equipment Breakdown Insurance—Provides coverage for the accidental breakdown of equipment.
Example: A power surge damages your computer network.
Over the past 26 years, Worthington Insurance, Inc has been a part of its vibrant tight knit Yardley community. Worthington has shared in the joys of participating in various festivals and parades and the sorrow, along with our neighbors and clients, of flooding in our low-lying location along the canal.