A comprehensive insurance portfolio can provide essential coverage for your business. It can offer financial assistance after several types of losses and reduce your operation’s out-of-pocket burden following a covered incident.

The experienced team at Elliott-Hartman Agency in Waterloo, Iowa, can help you secure the business insurance policies you need. Contact us today to get started.

What Is Business Insurance?

Business insurance refers to various types of commercial insurance policies a business can purchase to cover their exposures. Specific selections largely depend on your business’s risk profile and budget.

Your agent can discuss which policies and endorsements best suit your operations. Some of the coverages that many businesses carry include: 

·        General liability insurance—This helps cover claims if your business is responsible for third-party property damage or injuries. It can compensate them for their losses and help pay for associated legal expenses.

·        Business interruption insurance—This helps pay for lost income if your operations have to temporarily shut down due to a covered event. It can provide payments for ongoing expenses like taxes and wages.

·        Commercial property insurance—This provides protection for your business’s property (e.g., inventory, equipment and furniture) by paying repair or replacement costs after a covered incident. 

·        Commercial auto insurance—This helps cover your company-owned vehicles if they are in an accident or sustain damage. Hired and non-owned auto coverage (HNOA) can provide liability coverage if your business utilizes rented, leased, hired or personal vehicles.

·        Professional liability insurance—This may provide coverage for claims that your business’s services caused financial harm to a client due to a mistake, oversight or professional negligence. It is also known as errors and omissions (E&O) insurance.

·        Cyber liability insurance—This helps pay for losses and recovery costs if your business is the victim of a cyberattack or data breach. 

·        Commercial umbrella insurance—This offers an additional layer of coverage if a significant liability claim exceeds your other liability policies’ limits.

·        Workers’ compensation insurance—This may provide financial assistance to your employees for medical expenses or wage replacement after a work-related illness or injury.

Depending on your business’s needs, you may also consider other coverages, including:

·        Inland marine insurance

·        Completed operations liability insurance

·        Employment practices liability insurance (EPLI)

·        Directors and officers (D&O) insurance

Your insurance agent can work with you to obtain the insurance that best suits your operations. We can provide information on available options, terms, limits and exclusions.

How To Get Business Insurance

At Elliott-Hartman Agency, we are focused on helping our customers effectively manage their risks. Contact our knowledgeable professionals to get the business insurance coverage your company needs.