As your Trusted Choice Connecticut Insurance Agency, Founders Insurance Group is here to help you work through the complexities of Commercial Business Insurance. At Founders, we focus on what our clients need versus what they currently have - it's a true consultive approach. We protect you against future mishaps, because they do happen. Those mishaps can destroy a company instantly if proper safeguards, such as a comprehensive insurance portfolio are not in place.
Business Property Insurance
Business Property Insurance or Commercial Property Insurance will pay you to replace or repair your business property in the case of fire, theft, water or weather damage.
Business Property Insurance includes coverage for:
- Business personal property
- Interruption of business
- Tools and Equipment
- Property in transit
- Property of others in your care, custody and control
Our team of trusted advisors at Founders Insurance Group works with a large group of insurance carriers to ensure you get the right coverage for your type of business and for your budget.
General Liability Insurance protects you in the event of lawsuits and settlements of third party claims caused by your negligence. Any and all businesses are at risk of being sued as we live in a very litigious society. Business insurance can be complicated and at times confusing –knowing what type of coverage and how much you need is important to ensure your company is protected.
Types of exposure that could put your business at risk:
- Premises and Operations Liability
- Product and Completed Operations Liability
- Contractual Liability
- Cyber Liability
- Employment Practices Liability (EPLI)
- Professional Liability
- Errors and Omissions Liability
- Directors and Officers Liability
In addition, General Liability may also cover:
- Fire Legal Liability
- Medical Payments
Our team will work with you and explain your policy in layman's terms so you know what you are paying for, and what you are protected against.
Excess Liability Insurance
An Excess Liability Policy, also known as an Umbrella Policy protects your company when the limits on your General Liability Policy underlying liability policies are exhausted due to a catastrophic and/or third party law suit.
The amount of Umbrella coverage needed varies dependent on the type of company and/or risk that it is protecting. It is important to discuss your unique situation with your Commercial Lines Account Executive at Founders Insurance Group to determine what is the best coverage for your specific situation. All companies are at risk – from the small Connecticut main street florist to the large international manufacturing firm – Founders Insurance Group is here to protect your business.
Call today to set up an appointment with one of our commercial department experts for a no-obligation consultation. We promise you will be impressed by our knowledge and our customer service.
Bonds are additional forms of coverage to protect specific incidences within your company.
Fidelity Bonds: Protect your business and your customers from dishonest acts of your employees.
Contract Bonds: Guaranty completion of a construction job on time according to the terms and conditions of the contract. These bonds are commonly known as "bid bonds" or "performance bonds".
License and Permit Bonds: Guaranty obligations put on a contractor by a state or local government as a condition to getting a permit to work on public property.
Business Auto Insurance
If your business owns, leases, rents vehicles, or your business requires employees to use their own vehicles on company business it is exposed to risk. Just like a personal auto policy, your business auto insurance policy is affected by driving records, types of vehicles and what the vehicles are used for. It's important to know the driving history of your employees and new hires!
Key to managing your Business Auto Insurance rates:
- Keep current maintenance logs of all your vehicles
- Know your employees driving history
- Check your insurance rates before purchasing a new commercial vehicle (rates are partially tied to the type of auto)
- Anti-theft devices and a GPS system can help locate your auto if stolen
- Where you park your car counts! Locked garages are always more secure than open parking lots
- Your decuctible amount – the higher the deductible, the lower the premium
Connecticut requires Workers Compensation Insurance to be carried by the employer to provide a form of financial responsibility for injuries or illness suffered by employees within the workplace. The National Council of Compensation Insurance (NCCI) broadly classifies every job in the United States. Most classifications have a rate assigned to each $100 of payroll.
Connecticut Workers' Compensation insurance will protect your employees in case of injury by reimbursing them for:
- Medical expenses ( including rehabilitation costs )
- Survivor death benefits
- Lost income
- Injuries resulting in partial or total permanent disabilities
It is important to have an insurance agent who understands the complexities of Workers Compensation and can guide you through the claims process. Founders Insurance Group will create safety programs, best hiring practices and other preventative measures to insure that your policy won't break the bank.