The right insurance package can help protect your business – and your investment of time, effort and money. We’ll help you choose what’s right for your business and tailor the coverage to your needs. Generally, most businesses need a combination of:

• Property insurance for the building, structure and other property you use to do business.
• Liability insurance in case someone claims that your business caused him or her harm. Your liability insurance pays damages to third parties resulting from bodily injury or property damage for which your business is legally liable, up to the policy limits, as well as legal fees. It also covers the medical bills of any people injured by your business.
• Commercial auto insurance for vehicles owned by your business. The insurance pays any costs to third parties resulting from bodily injury or property damage for which your business is legally liable, up to the policy limits. Depending on what kind of coverage you buy, the insurance may pay to repair or replace your vehicle because of damage resulting from accidents, theft, flooding and other events.
• Workers compensation insurance for medical care and a portion of lost wages for an employee who is injured in the course of employment, regardless of who was at fault for the injury. (Not available in Ohio.)

In addition to these basic coverages, we can help you select from optional coverages available from Erie Insurance. Optional coverages help tailor your insurance to meet the unique needs of your business. Optional coverages are available for certain classes of business, like printers, offices and retail shops. Other coverages to consider:

• A business catastrophe liability or umbrella policy provides coverage over and above your other liability coverages. It is designed to protect against unusually high losses. For the typical business, the umbrella policy would provide protection over and above general liability and auto liability policies.
• Specialized liability insurance policies are designed to meet specific needs of individual businesses specialized for liability policies needed by some businesses. They include Errors and Omissions Insurance (E&O)/Professional Liability Insurance, Employment Practices Liability Insurance (EPLI) and Directors and Officers Liability Insurance (D&O).
• Terrorism insurance is offered to owners of commercial property as mandated by the Terrorism Risk Insurance Act, enacted by Congress in 2002. Insurance losses attributed to terrorist acts under these commercial policies are insured by private insurers and reinsured by the federal government.

As a business owner, you may want to offer group life insurance as part of your employee benefit package. We can help with that, too.

To learn about your business policy or to inquire about what type of coverage is right for you, contact us.