Commercial Insurance
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General insurance protects you and your assets from the financial risk of something going wrong.
It can’t stop something happening, but if something unexpected does happen that is covered by your policy it means you won’t have to pay the full cost of a loss.
Whether you consider yourself a legend in business management, or you’re getting into business for the first time, the truth is you’re human and are prone to error. Each decision you make has consequences that come with it.
Operating a business is almost like Russian Roulette. It’s an experience that will enthrall you but it comes with a certain degree of risk.
Insurance coverage is available for a myriad of potential dangers such as natural disasters to trade insurance. Insurance providers are very particular about the events they are intended to protect their customers from. It is important for the policyholder to understand the insurance contract before signing the contract.
In the event of a loss, the active policyholder will proceed to file a claim with the insurance provider. The provider is then liable to compensate the business for damages that have occurred.
Components Of A Business Insurance Policy
Your policy can include any or all of the options below.
Call us to discuss what coverage is best for you.
Business Interruption
Our business could be occasionally interrupted by different reasons. As an example, fire may not burn down our house, but it could engulf a part of our office section, disrupting the entire operations for a week.
The insurance company could provide us with coverage, not only for repairing damages; but compensating us for the loss of revenue due to the interrupted business operations.
General Liability Insurance
When we purchase a BOP, it should contain general liability coverage. Customers or suppliers could occasionally arrive at our home to perform specific business tasks.
During an unfortunate incident when someone gets hurt, the general liability insurance should provide us with the proper coverage.
Business Interruption
Our business could be occasionally interrupted by different reasons. As an example, fire may not burn down our house, but it could engulf a part of our office section, disrupting the entire operations for a week.
The insurance company could provide us with coverage, not only for repairing damages; but compensating us for the loss of revenue due to the interrupted business operations.
General Liability Insurance
When we purchase a BOP, it should contain general liability coverage. Customers or suppliers could occasionally arrive at our home to perform specific business tasks.
During an unfortunate incident when someone gets hurt, the general liability insurance should provide us with the proper coverage.
Professional Liability Insurance
It is a different component compared to the general liability insurance. It should provide us with coverage when any claim is made by clients due to failure or neglect on our part.
If our service or job that we provided wasn’t up to par, customers could make claims against us. This component is also called errors and omissions.
Workers’ Compensation Insurance
This component is imperative if we hire someone in our house.
It should allow us to cover medical expenses that could be needed when the employee is injured in our home. The employee will still receive salary during the recovery period.
Professional Liability Insurance
It is a different component compared to the general liability insurance. It should provide us with coverage when any claim is made by clients due to failure or neglect on our part.
If our service or job that we provided wasn’t up to par, customers could make claims against us. This component is also called errors and omissions.
Workers’ Compensation Insurance
This component is imperative if we hire someone in our house.
It should allow us to cover medical expenses that could be needed when the employee is injured in our home. The employee will still receive salary during the recovery period.
Workers Compensation
Workers’ compensation insurance gives your employees benefits if they get a work-related injury or illness.
This type of insurance is required in most states, and employers are responsible for buying and providing it to their employees.
Types Of Workers’ Compensation Benefits
Workers’ compensation insurance benefits usually help employees by covering:
Medical Treatments
Disability Benefits
Medical Treatments
Disability Benefits
Vocational Rehabilitation
Death And Funeral Services
Vocational Rehabilitation
Death And Funeral Services
General Liability
Today, it’s a very good idea for a small business to carry
General Liability Insurance. Running a business is a major responsibility that can involve many risks. Not only are you responsible for ensuring that your day-to-day operations run smoothly, but you are also accountable for keeping your employees and property insured from injuries and damages.
At Tobin Insurance, we can help you create a policy that is designed to safeguard the best interests of your business – so you can focus on serving your customers and increasing your profits.
Insurance coverage is available for a myriad of potential dangers such as natural disasters to trade insurance. Insurance providers are very particular about the events they are intended to protect their customers from. It is important for the policyholder to understand the insurance contract before signing the contract.
In the event of a loss, the active policyholder will proceed to file a claim with the insurance provider. The provider is then liable to compensate the business for damages that have occurred.
Coverages
With the proper policy, you can have most medical expenses, attorney fees, settlements, and reimbursements covered.
Premises Liability
Fire Legal Liability
Premises Liability
Fire Legal Liability
Premises Medical
Casualty Coverage
Premises Medical
Casualty Coverage
Professional Liability
Professional liability insurance (also called errors and omissions or E&O insurance) is an essential policy for businesses that offer services. Because the nature of your work can be subjective, a client could sue you simply because they didn’t like the outcome of your completed project. Or they might sue you over a legitimate mistake or oversight on your part that caused them financial losses.
When these unavoidable situations or meritless claims happen, your professional liability policy can spare you the high cost of attorney’s fees, court-ordered compensation, and other legal expenses. So how much can you expect to pay for this valuable coverage?
What Does Professional Liability Insurance Cover?
Professional liability insurance helps cover claims of:
Negligence
Misrepresentation
Inaccurate Advice
Errors & Omissions (E&O)
Errors and omissions insurance (E&O) protects a business against claims that it did not provide services that were expected or promised. Specifically:
➡️ You caused a client financial loss due to a mistake (errors).
➡️ You didn’t perform a service (omissions).
It is sometimes referred to as professional liability insurance. Errors and omissions insurance typically pays the costs of a legal defense, out-of-court settlements and judgments, even if the lawsuit was groundless. Generally, errors and omissions insurance is not included in a business owners policy (BOP) but can be purchased separately or as an endorsement to a BOP.
What Does Errors And Omissions Insurance Cover?
Your policy can include any or all of the options below.
Call us to discuss what coverage is best for you.
Misrepresentation
Covers you against claims that your business misstated a fact and that your client relied upon that fact.
For example, if you sell an electronic device that you said was "as good as new" but didn't realize the device was discontinued and no longer getting software updates, it could be considered misrepresentation.
Negligence
Covers against claims of errors and omissions for the service your business provided.
This could include giving inaccurate advice or failing to provide a service.
For example, a tax accountant who gives bad advice about a tax return.
Violation Of Good Faith And Fair Dealing
Generally, a contract requires your business to act in an honest and fair way so that a client receives the contract's benefits.
If a business acts (or fails to act) in a way that doesn't benefit the client, whether intentional or not, it may be a violation of good faith and fair dealing.
For example, if you are a contractor and you neglect to get a required inspection done prior to beginning construction, it could be considered a violation of good faith.
Directors & Officers Liability
As business risk evolves, the pressures on company boards and officers are growing. Gone are the days when the main concerns of directors and officers were related to company mismanagement and misrepresentation claims.
Chief among potential risks that boards must now deal with are: emerging technologies, cyber-risk issues and ever-expanding litigation against companies and their boards.
Given the emergence of these three threats, it is imperative that board members review their directors and officers liability (D&O) insurance for any lapses in coverage.
Coverage
Directors & Officers Liability insurance helps cover claims of:
Damages That The Insured Is Legally Liable To Pay
Settlements Negotiated With The Prior Consent Of The Insurer
Defense Costs
Commercial Automobile (Fleet)
Commercial auto insurance is needed to cover the cars, trucks, and vans used in conducting your business. It also covers drivers, as well as some types of motorized equipment. It provides for bodily injury liability and property damage while operating a company automobile, and medical payments or Personal Injury Protection (PIP) for the driver and passengers of the policyholder’s car.
Commercial auto insurance is a policy of physical damage and liability coverages for amounts, situations, and usage not covered by a personal auto policy. Bodily injury or damage to other vehicles or property caused by you or your employees could create financial issues for your business. There are two different categories of commercial auto insurance – hired/non-owned auto liability, and use of personal vehicles.
Coverage
Your policy can include any or all of the options below.
Call us to discuss what coverage is best for you.
Hired/Non-Owned Auto Liability
This particular coverage provides business insurance coverage for certain liabilities arising from the use of a rented or leased vehicle (hired), or a non-owned vehicle (employee using their own vehicle on company business).
Oftentimes this coverage can be added inexpensively to a business auto policy, or in some cases, a general liability policy.
Personal Vehicles
Standard auto insurance policies may not cover damage to your privately owned car or truck when it is used for business, even when it’s a business such as selling cosmetics, jewelry, or pizza delivery.
It is important to get additional coverage if you are using your own vehicle for business, as this adds an extra level of protection in case something were to happen.
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2651 West Guadalupe Road, #110, Mesa, Arizona 85202
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