For some businesses, the buildings and business personal property they own are the most significant asset for the company. It could be a state of the art warehouse, or an office building that houses your employees, computers, and servers. These properties and equipment are detrimental to the ongoing success of your business. What would happen if it all went up in flames tomorrow? Menath Insurance will evaluate your business property and help determine how to protect it. We will explain how this coverage will help you recover from a loss. Menath Insurance will help you determine what type of property coverage you should have and how it will help you prevail after a loss.
The policy can protect these types of property and so much more
- completed additions
- permanently installed machinery and equipment
- stock and raw materials
- improvements and betterments to a rented unit
- Additional coverages often include
- increased cost of construction to bring your building up to current standards
- Income you lost while the business was inopperable after a loss
Slip and falls and damaging another person’s property are the most common losses a business will face. General liability is your first line of defense for these claims. The general liability policy will also help pay for lawyers fees, settlements, and damages that are due to the injured party. Menath Insurance is here to protect your business. call us today and speak with an agent who will quote your general liability policy and other policies that may be appropriate to your business. Your business may also need additional specialized liability policies or coverages to further protect the business. speak with a Menath Insurance Agent today to determine what liability policies will protect you if a claim arrises.
Additional coverages that you should consider include
- professional liability or Errors and Omissions Insurance: these policies cover accidents and mistakes made from the professional services you offer. for more information visit our Professional Liability page. (link to professional liability page)
- hired and non-owned automobile liability will protect the business when your employees are driving their personal vehicles for the company. It will also provide liability insurance to private passenger cars rented for the business.
- personal and advertising injury will protect your business from claims of libel, slander, or copyright infringement
- products and completed operations is for a business whose products or services can cause harm or damage to the end user.
- medical payments will pay for injuries sustained by somebody other than an employee regardless of who is at fault, up to the policy limits.
Some professions need more protection than can be found in a standard insurance policy. Any business that is held to a higher standard of excellence in the products or services they offer should consider Professional Liability Insurance. Professional liability will protect your business from the mistakes you make and advise you give that results in monetary damages. Some professional liability policies also protect you from mistakes and advise that result in bodily injury or property damage. Professional liability is also knowns as Errors & Omissions, Medical Malpractice, or Educators Liability.
If you are not sure whether you should carry a professional liability policy, contact Menath Insurance today. We will explain how a professional liability policy will protect your business from potential litigation and damages associated with the products and services you offer.
Professional Liability and Errors and Omissions insurance is common for:
- Educational institutions
- architect and engineers
- fitness clubs and personal trainers
- real estate agents, brokers, and offices
- and so much more
Umbrella and excess liability policies are your saving grace when the unthinkable happens. These policies will protect your business above and beyond your underlying policy limits. They are priced just right and add tremendous value to your risk management plan. this coverage can be provided over most of your primary insurance policies meaning that you have extra protection for accidents. Your agent at Menath Insurance is ready to provide extra protection for your business, contact us today.
Business owners may not realize that a personal auto insurance policy may not be adequate for their vehicles. The fact is, some personal automobile policies may even deny claims if the vehicle was being used for business purposes. If you use an automobile in the course of your business, it is best to be insured by a commercial auto policy. Coverages under a commercial auto policy will still protect the driver and passengers in your auto and other autos involved in an accident. But it also protects the business from litigation that may follow an auto accident. The agents at Menath Insurance will help you determine if you need a commercial auto policy and find coverage that fits for almost any business.
Other coverages available:
- coverage for tools and special equipment on the vehicle
- comprehensive coverage for damage cause by fire, theft, vandalism and flood
- collision coverage for accidents involving another auto, or for when you have run into an object
- the ability to name another company as Additional Insured under your auto policy
- liability limits up to $1,000,000
Workers’ Compensation will get you and your employees back on their feet after a workplace injury. Our experience will guide you in purchasing the correct workers’ compensation policy for your business. We can insure any business from sole proprietors, to complex businesses with hundreds of employees doing different types of work. With no deductible and no co-pay when an accident occurs, Workers’ compensation insurance provides great value to any business.
Don’t have any employees? Workers’ compensation can protect business owners too. The policy will pay for your medical expenses and a portion of your lost wages so you are not left high and dry during recovery.
A Workers’ Compensation policy will Include coverage for:
- Medical costs associated with an employee’s injuries while on the job
- Costs for an employee to attend physical therapy
- Vocational Rehabilitation for employees who cannot return to the same line of work
- Lost wages incurred while recovering from the injury
- Employers Liability that protects the business from suits surrounding work related injury or disease
The term inland marine can be confusing to many but it should not be overlooked by businesses when shopping for insurance products. You may be surprised to learn that inland marine insurance actually has nothing to do with the ocean or marine related issues but instead, involves the transportation of goods over land. Inland marine insurance covers articles in transit by planes, trains, automobiles, and trucks including bridges, tunnels, and other instrumentalities of transportation. Inland marine insurance will also cover important and highly valuable items such as jewelry, fine arts, and china. Because Menath Insurance is an independent insurance agency, we will shop the top carriers in the country to find your transportation business the best inland marine insurance available. By purchasing inland marine insurance through Menath Insurance, you can concentrate on operating your business with the peace of mind you deserve. Free rate quotes!
Bond insurance is protection for the lender against default. A premium for the insurance is paid for by the issuer of the Bond. Insurance companies commit to pay the principle and interest of a Bond if the issuer is unable to meet the requirements of the agreement. Some insurance companies deal exclusively with Bond insurance.
Bonds are often used in these types of businesses
- cleaning services
- and so much more
Classification of Bonds is made with regard to whether or not they are secured or unsecured, maturity rating, tax status, quality, and safety in terms of whether or not the issuer is financially reliable to repay the Bond. Bond Insurance, therefore, will correspond to the rating of the Bond and is calculated based on the risk of failure to repay the Bond. The only Bonds that are not usually insured are government Bonds, since the risk of failure to repay is negligible.