As a Business Owner You Have a lot at Risk. Protect Your Investment
with Business Insurance
- Commercial Property Insurance
- Commercial & Auto Insurance
- General Liability Insurance
- Professional Liability Insurance (E&O)
- Workers Compensation Insurance
Your business probably has furniture, inventory, equipment, or a building structure. These all count as commercial property and could cause your business financial loss if they were damaged or lost accidentally.
Commercial property is a big investment that is crucial to the success of your business. We can help you protect all the physical assets of your business with a customized Commercial Property Insurance policy.
Some items Commercial Property Insurance can cover includes:
- Your building, outdoor sign, and fence
- Your furniture, equipment, and supplies
- Your inventory
- Loss of income if you get shut down due to a loss
- Mechanical breakdown – mechanical failure of your A/C, freezers, or other machinery
Feel free to contact us at Fudge & Associates with your questions. We can help you craft a policy that identifies and covers your company’s specific needs.
Whether your company owns an entire fleet of vehicles or just one, Commercial Auto insurance helps reduce your liability on the road so that an accident doesn’t turn into a financial disaster.
Fudge & Associates helps cover a wide range of commercial auto insurance needs for fleet operators and business owners. We will guide you through the process of making sure you are protected in the event you need to file a claim, or if a claim is filed against you.
Questions for Business Owners
Some questions you may need to answer include:
- What would be the impact on your business if your company vehicles were involved in a serious accident?
- How much coverage do you need to protect your business from financial disaster?
- How are the vehicles used in your business?
- Who drives the vehicle(s)?
- Do employees drive personal vehicles for your business?
- Do you drive out-of-state?
Or, if you have existing coverage:
- If you or your employees use personally owned vehicles for work, is the company protected against lawsuits?
- If you or an employee uses a company vehicle for personal use, are you covered personally under the company policy?
- Do you have all the coverage you need, including bodily injury and property damage liability, collision and comprehensive, personal injury protection (PIP), and uninsured motorist (UM)?
General liability insurance is one of the most important protections for your business.
Unfortunately, there are too many unforeseen claims and lawsuits waiting to happen, especially with an increasing number of individuals who are quick to sue over almost anything. General liability is the net that will catch you.
It is simply too big a risk for your business not to have General Liability Insurance. Contact Fudge & Associates with your questions today. We can get you the right policy.
General liability pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations. It also pays your defense costs, which can be more than the payout itself.
Fudge & Associates offers general liability protection in a broad range of areas, including:
- Bodily Injury: Includes the costs of physical injury or death to a third party
- Property Damage: Coverage for the physical damage to property of others or the loss of use of that property
- Products-Completed Operations: Liability protection (damages and legal expenses up to your policy’s limit) if an injury ever resulted from something your company made or service your company provided
- Contractual Liability: Extends to any liability you may assume by entering into a variety of contracts
- Liquor Liability
- Defense Costs: One of the most valuable protections is paying the cost of defending you, even if the allegations are frivolous
- Industry Specific Risks: Each industry has unique risks – make sure your general liability covers properly what you do in your business
If your business is in the service sector (which includes any business that provides a service or gives advice), Professional Liability insurance, more commonly known as Errors & Omissions (E&O), will protect you in the event of a lawsuit brought against you alleging financial loss due to negligence or mistakes on your part.
Professional liability coverage is different from a general liability policy, which covers you for your liability for bodily injury to others or damage to someone else’s property.
We would be happy to help you identify the threats to your business and the proper coverages to cover those risks. Contact us now.
What It Covers
Claims of loss due to:
- Violation of good faith
- Inaccurate advice
What It Does Not Cover
Generally, E&O only covers liability issues that are specifically enumerated in the policy. Coverage does not include protection for:
- Direct harm caused by bodily injury, property damage, personal injury, or advertising injury (covered by general liability insurance)
- Repair/replacement of a failed product
- ALL forms of legal liability under civil law
Who Needs E&O
E&O is required in some areas of professional practice, such as medical, where it is referred to as malpractice insurance.
Other sectors and professionals that use it include:
- Real estate agents
- Insurance agents
- IT professionals and designers
- Engineers and architects
Employers have a legal responsibility to their employees to make the workplace safe. However, even when every reasonable precaution is taken, accidents can still happen.
Workers compensation insurance is specifically designed to provide two important coverages:
- It covers both employers and employees for injuries sustained on the job or because of it. It also covers occupational diseases
- It provides legal protection for the company against lawsuits resulting from sickness, injury, or death as covered by workers comp
Who Must Have Workers Comp
In the state of Florida, the following industries must carry workers comp insurance:
- Construction workers, whether self-employed or with employees
- State or local government
- Any industry other than construction with 4 or more employees
- A farmer with more than 5 regular employees or 12 seasonal employees
How Workers Comp Protects Employers
- Helps eliminate the need for litigation in case of an accident
- Controls financial risks by limiting the recovery payout amount
- Protects the company from lawsuits resulting from sickness, injury, or death as covered by workers comp
How Workers Comp Protects Employees
Workers comp protects employees and makes the process easier in case of injury. In case of a workplace accident, workers comp can cover:
- Medical care
- Lost income
- Injuries sustained on workplace premises or elsewhere
- Auto accidents while on business
What Workers Comp Does Not Cover
Workers comp covers all accidental injuries and diseases caused during and by employment. What it does not cover are the following:
- Injuries arising out of willful intention to injure, harm, or kill oneself or another
- Injuries arising from intoxication or under the influence of drugs
- “Pain and suffering” – The employer may not sue an injured worker for causing a catastrophe nor can the injured worker sue the employer for their injury. This trade-off makes it possible for injured workers to receive immediate medical care, at no cost to himself or herself, without any consideration for who was at fault. In civil law, negligence must be established through litigation before any compensation is awarded
- Mental or nervous injury due to stress, fright, or excitement