In modern days, setting up a business takes a lot of time, resources, and dedication. It's everyone's dream to see their business rise to the top and realize its goals. However, unforeseen risks can cripple your business and your investment financially. At Four Point Insurance Services, we understand your investment and are ready to insure your business. Our commercial insurance coverage protects your business against financial losses that arise from risks such as vandalism of business property and injuries to you, as the owner, or to your staff.
Commercial Risks and Coverage
As risks are unexpected, this provides a safety measure for any business. Cushioning you from the unforeseen hazards of peril. Four Point Insurance Services can help you tailor-make a commercial insurance policy that specifically covers your business needs and budget.
- Commercial Property - The Commercial Property policy reimburses businesses and organizations for damage to their buildings, business personal property/contents and loss of business income to protect your income stream so you can stay in business through a claim/loss. Coverage can reimburse the damage with brand-new property, or simply pay the current value of the lost or damaged property.
- Inland Marine/Property Floater - This is a large category of property insurance. It is useful for when property is being transported or while it is away from its normal storage location. Additionally, coverage for buildings in the course of being built along with the components of the structure while being transported are covered by an Inland Marine policy.
- Commercial General Liability - The Commercial General Liability (CGL) policy is the first barrier of defense, protecting businesses and organizations from liability claims involving bodily injury, property damage, and certain intangible damages. The damages can be caused by the operations, the products, or premises related claims.
- Business Automobile - Automobiles used in business and other commercial activities exceed the scope of a Personal Auto policy, leaving gaps in coverage. Business Automobile insurance expands coverage to fill these gaps, providing a policy suitable for commercial uses. However, it still provides similar types of coverage, such as liability, damage to the auto itself, and for Uninsured/Underinsured Motorists. Even though your business may not own any vehicles, your business still needs protection for any autos used on behalf of the business by its owners, employees or volunteers.
- Workers' Compensation - Workers' Compensation provides state-mandated benefits to a worker for injury, disability, or disease contracted by the worker in the course of employment.
- Commercial Umbrella Liability or Excess Liability - This policy provides an extra layer of liability protection that supplements underlying liability policies (Commercial General Liability, Auto and Employers Liability policies). It can also provide broadened and supplementary liability coverages. Coverage is provided in million-dollar increments.
- Professional Liability, Pastoral Liability, Abuse & Molestation - These Liability policies go beyond the Commercial General Liability policy to cover specialists, such as professions that may require a license. It covers purely financial losses that are caused by the professional's acts, errors or omissions.
- Employment Practices Liability - Employees can sue their employer for harassment, discrimination, wrongful termination, defamation, retaliation, invasion of privacy, and more. This policy will cover the employer for defense costs and settlements from these types of allegations.
- Directors & Officers Liability - When directors or executive officers in for-profit and not-for-profit organizations make errors or omissions that adversely affect the organization, they (individually) and the organization itself can both be sued by various stakeholders. This policy covers the cost of defense and for settlements of suits for allegations of managerial acts, errors or omissions.