Adam and Associates

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(808) 757-9464

BUSINESS LIABILITY

The business insurance liability exposures for each business will be different. The insurance needs will change at different stages of the business as well. For example, the insurance needs for a start-up will be different from a business that has been in operation for 20 years and operating at multiple locations.


Speaking with an insurance advisor will help to determine your needs for today, and based on your business projections and future plans, the insurance program can be designed to grow with you as needed, when it is needed.

Commercial General Liability Insurance

This type of business liability insurance coverage is intended to provide coverage for bodily injury and property damage incurred by another business or person that you are legally obligated to pay.


If someone visits your place of business and is injured on your premises, this coverage would be important to have.


If you tend to visit others at their place of business or home, and as a result of your visit or work at that place, you are found to be responsible for injuries or damage then this coverage would also be needed.

Business Property Insurance 

Different forms of business property includes things such as:



  1. Buildings
  2. Furniture & Fixtures
  3. Inventory
  4. Supplies & Materials
  5. Equipment & Tools
  6. Computers and Technology Devices
  7. Cargo in Transit (by Land or Ocean)


Business Auto Liability

Does your business own one vehicle or a fleet of vehicles?  Business auto liability is mandatory in most states. Your business should find out if there are specific limits of insurance required based on your services.


For example, if your vehicles require special permits or licenses, you may be required by government agencies to have higher than the statutory minimum insurance coverage.


As a business, you should consider carrying a minimum limit of insurance of $500,000 for bodily injury and $100,000 for property damage. Other limits are available, but to properly protect your business and its assets, higher is better.


Client Testimony

"I couldn't have asked for a better experience in getting insurance for my new business.  ... FAST, professional and extremely knowledgeable.  I highly recommend working with her and her team to obtain professional insurance for your business."

 

... Erica Leone, Nemean Business Solutions




This is not a complete list of all insurance options. There is a wide range of business/commercial insurance needs and an extensive field of insurance products.


We highly recommend that you speak with an advisor to get a clear understanding of your insurance needs.





Workers Compensation Insurance

Every state has statutory requirements for workers compensation. Understanding the law when it comes to this type of liability insurance will prevent the Dept of Labor & Industrial Relations from imposing penalties on your company. 


Every state has a variety of potential insurance companies that can provide coverage except for four (4) of them, those state provide coverage only through that state's workers compensation fund, these funds are often referred to as monopolistic funds. Those four states are:

  • North Dakota
  • Ohio
  • Washington 
  • Wyoming

These territories are also monopolistic funds:

  • Puerto Rico
  • U.S. Virgin Islands


Other Insurance Coverages

When discussing your business with one of our insurance advisors, we can further determine if you have additional business exposures that may require one or more of the following types of liability insurance policies. These are a few examples of other insurance options:


  • Aviation Liability
  • Cyber Liability
  • Director & Officers Liability
  • Employment Practice Liability
  • Excess/Umbrella Liability
  • Farm Liability
  • Marine Employers Liability
  • Maritime Liability - Hull Insurance
  • Pollution Liability
  • Product Liability
  • Professional Liability (E&O Insurance)
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