Trowbridge Insurance Agency-Farmers Insurance

Description

Usually a workers comp policy has two parts: "Part One, Workers Compensation" and "Part Two, Employers’ Liability." Under "Part One", the insurer contracts to pay whatever the state-required amounts of compensation may be. Unlike other types of insurance, workers comp coverage has no ceiling or limit on the policy amount.

Hired Auto & Non-Owned Auto coverage if requested is typically added as an endorsement on a policy. If there are no vehicles owned by the company this coverage will meet the contract requirement for Commercial Auto coverage. Hired Auto coverage replaces or augments the liability coverage offered by auto rental agencies for example Non-Owned Auto coverage protects your company in the event that your company is sued as a result of an auto accident that you or one of your employees has in a personal vehicle while on company business.

A typical homeowners or renters policy provides only $2,500 coverage for business equipment which is generally not enough to replace all of the equipment required by even a small home business. You may also need coverage for liability and lost income. Insurance companies differ considerably in the types of business coverages they offer. Some may meet the specific needs of your business, while others may not. So it is wise to shop around for coverage options as well as price.

The Property Insurance on your Restaurant Insurance Policy can insure that the buildings that you own and/or business property and inventory against physical loss or damage. If you don't own your building, you'll still need to insure the contents. In most Restaurant Insurance Policies, property insurance for business contents covers furniture, fixtures, inventory, office equipment and other supplies stored at your facility or off-premises. You may insure those items for replacement cost or for actual cash value (ACV), which pays only for the depreciated value of the property.

A personal auto policy is unlikely to provide coverage, however, if the vehicle in question is used primarily in business. It will not provide coverage for any vehicle owned by a business. The personal auto policy, whether yours or your employee’s, may not have enough coverage to protect your business.

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