Business Insurance Basics


No matter what the size is of your business you will need some level of insurance to protect you and your business. For small businesses, insurers often combine a number of insurance policies into a package sold as a single contract. The most common policy for small businesses is the Business Owners Policy (BOP).

Essential Coverage

Property Insurance

Property insurance compensates a business if the property used in the business is lost or damaged due to such things as fire or theft. In addition to the building or structure, property insurance covers personal property such as office furnishings, inventory, raw materials, machinery, computers and other items necessary to a business’s operations. Depending on the policy, property insurance may include coverage for equipment breakdown, removal of debris after a fire or other destructive event, some types of water damage and other losses. It may also provide operating funds when the business is trying to get back on track after a catastrophic loss.

Liability Insurance

Any business can be sued. Customers may claim the business caused them harm due to a defective part, an error in a service or disregard for another person’s property. If the business is found liable, liability insurance pays damages, up to the policy limits, as well as attorneys’ fees and other legal defense expenses. It also pays the medical bills of anyone injured by or on the premises of the business.

Business Auto Insurance

A business vehicle policy covers cars owned by a business. The insurance pays any costs to third parties for bodily injury or property damage for which the business is legally liable, up to the policy limits.

Workers Compensation Insurance

In all states but Texas an employer must have workers compensation insurance when there are more than a certain number of employees. The minimum number varies from three to five, depending on the state. Workers Comp insurance, as this coverage is usually called, pays for medical care and replaces a portion of lost wages if an employee is injured in the course of employment, regardless of who was at fault for the injury.

If a worker dies because of injuries sustained while working, the insurance provides compensation to the employee’s family. An extremely small business, with one or two people working out of a home, may not need workers compensation insurance. But, it may need more property and liability insurance than what is offered by a typical homeowners policy.

services overview


Human Resources

Your employees are your most valuable asset. Like all valuable assets, they must be properly managed to utilize their full value. You know that maintaining all aspects of this important asset, and liability, is vital to the long-term success of every business. Let us provide you with the tools you need to handle both these areas of Human Resource Management. We’ll help you manage both the assets and liabilities.

Customized Business Solutions

You deserve a true expert to manage the options, rising costs, and compliance requirements of your insurance needs. As a leading advisor of broad-based solutions, you gain from our experience in designing plans that support your company's sustained success.

Risk Management

Employment Practices Risk Management helps protect your business from many employer liabilities such as discrimination, wrongful termination, unlawful retaliation, and harassment claims. Our comprehensive program not only provides resources that help prevent issues from happening in the first place, but also supports you in the event of a claim with insurance coverage and claims management expertise.

Employee Benefits

In order to attract and retain innovative, dedicated workers, an employee benefits program is a necessity. Managing your employee benefits is an important part of any payroll and Human Resource function. Just as important, successfully managing and controlling the ever-increasing costs of employee benefits can provide a competitive edge for your company. Creating and running a truly effective employee benefits program, though, is a task few companies are equipped to handle themselves. Let us help!