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BUSINESS INSURANCE

coverage types

Business Insurance helps you to protect your business’ financial assets, intellectual and physical property from amongst other things;

  • Lawsuits
  • Property Damage
  • Theft
  • Loss of income
  • Employee injuries and illnesses
At Central Insurance we utilize “Creativity” to uncover your acceptable level of risk tolerance and help you recognize the best approach to managing your insurance needs. 
 
Listed below are different coverage types available to help Protect What Matters.

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General liability

General Liability Insurance Covers:

  • Bodily injury and property damage liability:
    Covered losses can include things like an injury from a slip and fall at your premises or worksite and damage to neighboring property.
  • Medical payments:
    This coverage for medical expenses is for a covered bodily injury to a third party as a result of an accident on your premises or worksite.
  • Personal and advertising injury liability:
    This coverage can help protect you in situations such as when an employee speaks or publishes information that slanders or libels a person or organization, publication of material that violates a persons right of privacy, copyright infringement, or wrongful eviction. 
 

Commercial Property

Commercial Property Insurance Options:

  • Commercial Property:
    Repair or replace. Property insurance will protect you against common business interruptions such as fire, theft or damage.
  • Equipment Breakdown:
    This is insurance that goes above and beyond new product warranty, which typically covers only new equipment for a limited amount of time and for a limited type of failure.
 
 
 
 
 
 
 
 

Business Auto

Business Auto Insurance Covers:

  • Liability Coverage:
    If an insured person is legally responsible for bodily injury and/or property damage as the result of an accident, liability coverage will defend and indemnify you subject to policy terms.
  • Collision Coverage:
    Helps pay for damages to your vehicle after a collision accident.
  • Comprehensive Coverage:
    Helps pay for costs related to damages from other than collision events.
  • Uninsured Motorist Coverage:
    Protection for you and your vehicle from uninsured vehicle operators and owners.
  • Underinsured Motorist Coverage:
    Protects you from vehicle operators and owners who do not carry enough insurance to cover the expenses related to an accident.
  • Many other types of auto insurance coverage symbols…
 

Workers' Compensation

protect your company's best assets

You rely on a team to run your business. Their expertise, experience, and enthusiasm drive your business forward. Workers’ compensation insurance can protect them in case the unexpected happens.

Workers compensation insurance can help:

  • Pay for an injured employee’s medical treatment.
  • Replace lost wages if a job-related injury requires time off work.
  • Protect your business and assets.
 
 
 
 
 
 
 

Commercial Umbrella Insurance

Be More Prepared than the problem

Commercial umbrella insurance can help if you are sued. Every company faces the possibility of an unexpected lawsuit.

Commercial umbrella insurance helps protect the financial future of your company by covering damages that exceed the limits of your underlying liability insurance. If you are sued for $1.5 million but only have $1 million in general liability insurance, a commercial umbrella insurance policy could pay the outstanding $500,000, leaving your business assets or profits untouched. It is our best defense against an unusually high loss when the limits of an underlying policy have been reached.

helps protect your business for the unexpected

  • Covers damages that exceed the limits of your underlying liability insurance.
  • Pays for any outstanding damages, leaving your assets and profits untouched.
 
 
 
 

Surety Bonds

Honest, Responsible Business

Surety bonds are different than insurance. They are designed to guarantee a principal will act with honesty, integrity and financial responsibility and comply with a law or contract. Surety bonds offered include:

  • Court Bonds:
    These bonds guarantee the holder is protected from losses stemming from a court decision.
  • Fidelity Bonds:
    These bonds protect against employee theft, whether from you or one of your competitors.
  • Bid & Performance:
    These bonds guarantee that a contractor will stick to the terms of a construction contract.

Types of surety bonds offered include:

  • Court Bonds: If you are involved in a court case as a plaintiff, defendant, or fiduciary, you may need a court bond. These are often required in the court proceedings to protect from possible loss resulting from the court cases outcome.
  • Fidelity Bonds: Dishonest employees can be an unfortunate reality in the business world. Fidelity bond coverage protects against employee theft.
  • Bid & Performance Bonds: Bid and performance bonds, sometimes called Contract Bonds, guarantee that a contractor will abide by the specs of a construction contract. They will perform the work. They will pay the subcontractors, vendors and labor.

Data Breach & Cyber Liability Insurance

Data Breach & Cyber Liability Insurance :

Utilization of technology brings with it additional risks to your business.  Hackers target Personally Identifiable Information (PII) or Personal Health Information (PHI) you keep on your business’ computers.  

Does your business;

  • Collect, store, send or receive PII or PHI?
  • Does your industry have rules about customer information?
  • What would you do if you faced a cyberattack?

Data Breach Coverage helps your business to respond to a breach of PII or PHI. 

Cyber Liability helps your business cover financial losses due to cyberattacks or lawsuits following an attack.   

Equipment Floaters / Inland Marine Insurance

An Insurance Plan Beyond the standard

Equipment Floaters and Inland marine insurance is designed to provide coverage above and beyond standard property insurance. 

Coverage designed to cover equipment or materials that are moved from one location to another.  

 

Crime Insurance

Crime shouldn't stop business

Internal or external crime. They can leave your business vulnerable even in the best of times. Crime (fidelity) insurance can protect you against these often overlooked losses.

This endorsement, or insurance option, can be written as an addition to your basic small/medium sized business policy or written in addition to other policies you may hold.

 

Various options of crime insurance could include:

  • Theft or dishonest acts.
  • Premises theft and robbery outside of the business premises.
  • Theft or money and securities.

Key Person

top-Level protection for top-Level employees

We understand that retaining leaders and top talent within any organization requires a team effort. Key person products include offerings that work with you to keep a steady hand on the wheel.

Contact your Central Insurance representative to learn more about how to implement these useful business tools.

key person insurance includes:

  • Business Success.
  • Employee Retention.
  • Supplemental Retirement, and more.

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