Tag: Commercial Insurance 2

Knowing When to Purchase Commercial Auto Insurance

Having the right kind of automobile insurance is important to insure you have the appropriate coverage in the event of a claim. If your vehicle is used for business purposes, then commercial auto insurance is the right type of insurance for you. Commercial auto insurance is similar to personal auto insurance and includes liability, collision, medical costs, uninsured motorists and comprehensive coverage. However, the commercial... Read Article

Business Income Coverage

Calculating the appropriate business income limit does not have to be a mind-numbing process. To understand business income coverage limits, you must simply understand that the coverage is almost entirely based on time. The amount of coverage and the correct coinsurance amount can be calculated once a reasonable estimation of the time necessary to return to full operational capability is determined. Four key objectives must... Read Article

Slip and Fall Claims

One-third of all workplace accidents are the result of slips and falls, averaging a little more than 500 deaths per year. Some of these injuries are to employees who then claim workers’ compensation benefits, many times exaggerating the injuries. Sometimes the employee will actually be hurt playing football on Sunday, yet file a work-related injury report on Monday. A common problem for every business that... Read Article

Tenant Improvements

When a tenant makes permanent improvements to a leased building, the improvements usually become the property of the building owner. The tenant gains the ability to use and enjoy the improvement or betterment during the period of the lease. Examples of improvements could be air conditioning, office partitions, lighting fixtures, or special electrical or plumbing installations necessary to run your business. The commercial property policy... Read Article

Examination of Books and Records

In your commercial property policy you will find a section titled “Policy Conditions.” This section of the policy spells out requirements of the policyholder and the insurance company. It covers information about each party’s right to cancel the policy, the insurer’s right to inspect the property, and conditions about abandonment of the property. There are many more conditions though, and it is a good idea... Read Article