Your business is unlike any other. It has the unique imprint of your design and oversight, and it deserves insurance that stands up to its individuality. At Strobel Insurance, we understand the people, traits, assets, and risks that make a business what it is. We offer comprehensive commercial insurance solutions that are tailored and adapted to fit your business model. Our goal is to create flexibility and simplicity for our clients, all the while delivering a quality product that is reliable and affordable.
Our services extend to businesses in a wide range of industries. Insurance solutions are available for:
- Manufacturers
- Landlords
- Property Owners
- Builders Risk
- Retailers
- Restaurants
- Contractors
- Office owners
- Professionals
- Gyms
- Laundromats
- Fuel stations
- Mechanic and service shops
- Salons
- Dry cleaners
- Consultants
- And more
Types of Commercial Coverage
There are several types of commercial insurance coverage. They may not all be right for your business, but you may discover you need several of them to minimize your company’s vulnerability to financial risks. Others are more specific to your company’s structure, size, and industry.
Core Business Insurance Coverages
The core coverages are important for virtually all businesses. Depending on your business size, industry, and other factors, you may need to purchase these coverages separately or you may qualify for a combined coverage policy known as a Business Owners Package (BOP).
Business Property Insurance
This coverage protects your business against the loss of physical assets due to covered events. It helps compensate you for theft and damage to your inventory, equipment, fixtures, computers, furnishing, and more. It can also cover the cost of repairing or replacing your signage and the structure of your building if you own it.
Business Interruption Insurance
When a covered event puts a halt to your business operations, there is a big price to pay. Even if insurance covers repairs and compensation of damages, there is still the issue of cash flow interruption. With the right insurance, you can continue paying your bills and covering ongoing necessary expenses until you are able to resume normal business operations.
General Liability Insurance
Also known as GL coverage, this insurance is essential for most businesses. It protects your company against litigation expenses and financial liabilities when someone is hurt on your premises or your business becomes responsible for a third-party bodily injury or property damage. You coverage can also include protection against advertising injury and other commercial risks that might otherwise cost you tens or even hundreds of thousands of dollars in fiscal damages.
Additional Coverage Types
In addition to the standard commercial insurance offerings that nearly all businesses need, there are several additional insurance types that may be necessary or beneficial to your business.
Workers Compensation
If you have employees working in your business – even part-time workers – you probably need workers compensation insurance. This coverage is required for employers, as it helps protect workers against injuries that happen while on the job. Workers Compensation insurance is no-fault protection, meaning your business does not need to be at-fault for an employee to file a claim. However, claims against this type of coverage reduce your risk of face an employee injury-related lawsuit.
Employment Practices Liability (EPLI)
Employers are required to treat employees fairly and without discrimination. If you are accused of discriminatory behavior or unfair hiring, firing, and other employment practices, EPLI can help cover the cost of defending yourself against litigation.
Commercial Auto Insurance
Whether you own one vehicle or a garage full of them, your company cars must be insured according to state guidelines. Not only do you need liability insurance that covers third-party injuries and property damages and protects you against accident-related litigation expenses, but you also need insurance that protects the value of your vehicles against collision and non-collision damages.
Errors and Omissions (E&O)
Everyone makes mistakes, but some of them can prove costly. An account making a grievous error on another company’s tax returns could be responsible for extensive financial losses and client tax penalties. Similarly, a travel agent who schedules the wrong flight for a client could be sued if it results in a missed cruise departure. E&O insurance helps protect businesses that provide professional services against the financial repercussions of their mistakes.
Data Breach and Cyber Crime
Criminals are hiding in the shadows of the dark web looking for a financial payday. If you store sensitive information about customers, you may be responsible if someone steals that information from your databases. Make sure your coverage includes compensation for data recovery, notification to customers, and other costs associated with a data breach.
Equipment Coverage
If you have expensive equipment, make sure it is protected against damage and failure. We offer various types of protection for commercial equipment from breakdown coverage to inland marine that protects it in transport.
Commercial Umbrella Insurance
When general liability insurance is not enough to cover the damages of a lawsuit, commercial umbrella insurance can save the day. This supplemental coverage extends the limits of your liability protection, paying for excess damages when you exhaust the limits on your primary policy.
Additional Coverages
Depending on the type of business you have, you may need additional coverages to fill in gaps left by standard coverage. Whether you need to protect your restaurant with food spoilage and contamination coverage or you want to protect your bar with liquor liability insurance, we have commercial coverage options designed to fit your needs. These may be available as separate coverages or endorsements to existing insurance coverage. Talk to your agent for more information.
