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Without proper protection, owning a small business can be more risky than just failing to make a profit. Your personal financial well-being may be at risk far beyond anything you might imagine. The threat of legal action against a small business is always present.
Yet, there are other risks besides liability. Your business could be shut down because of a loss of business machinery, financial records or office equipment due to a fire, power outage, flooding, weather or any cause. Without proper coverage, you may have to permanently close your doors.
Business owners insurance can protect your small business. Shop owners, contractors, restaurant owners, home businesses and every type of small business needs business insurance; some need specialized policies. The largest companies employ full-time risk managers to help them determine their risk exposure.
Cole Harrison will assess your risk, recommend appropriate coverage, and then work to find you the most comprehensive coverage at the lowest possible premium.
Some of the most common lines of commercial coverage include:
* Commercial Package Policy -- [BACK TO TOP]
The Commercial Package Policy can provide almost any commercial insurance from Commercial Property coverage, Commercial General Liability coverage, Commercial Auto coverage, Commercial Crime coverage, Commercial Inland Marine coverage, Boiler and Machinery coverage and Farm coverage.
* Business Owners Policy (BOP) -- [BACK TO TOP]
A BOP is a commercial package policy that provides Property and Liability insurance to certain types of small businesses and allows the insured to pick and choose the coverage.
* Commercial Inland Marine Insurance -- [BACK TO TOP]
Commercial Inland Marine Insurance provides very broad coverage on a wide variety of portable property in addition to the coverage for cargo in transit.
* Commercial General Liability Insurance -- [BACK TO TOP]
Business liability arises out of the conduct of a business and includes premises and operations exposure, the liability arising out of the business location or the activities of the business; and personal injury, which includes such things as slander, libel, copyright infringement, invasion of privacy, false arrest and malicious prosecution.
* Commercial Auto Insurance -- [BACK TO TOP]
Commercial Auto policies provide businesses with Liability and Physical Damage coverage for private passenger and commercial autos.
* Workers' Compensation Insurance -- [BACK TO TOP]
Workers' Compensation insurance covers an employer's obligation for stated damages in the event of a work-related injury or illness. Workers' Compensation Insurance is compulsory in the State of Maine.
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