Business Insurance in Hermitage, PA
Business policies include – Business Auto, General Liability, Workers Compensation, Habitational (apartment buildings), Artisan /Specialty Contractor, and coverage on business owned Property at one or multiple locations. Insuring a business requires professional assistance. There are many different types of businesses and many facets to each type. Protecting your investment is extremely important because often that investment is your livelihood.
Any vehicle used primarily for business and/or owned by the business entity must be covered by the business auto portion of the policy. Business auto coverage is for almost any type of vehicle a business may use from an ambulance to an antique car or a tractor trailer to a fleet of golf carts. Any vehicle used to transport persons for a fee is considered a hired vehicle and must carry coverage under a business policy.
Any business that deals with the general public is at a much higher risk than a homeowner. General Liability limits start at $1,000,000 per Occurrence and $2,000,000 Aggregate. Depending on the type of business, an owner may require Professional Liability, for occupations such as engineering, litigation, accounting, architecture, and writing. Professional Liability insurance is commonly known as “Errors and Omissions” coverage.
Pennsylvania State Law requires business owners to carry Workers Compensation on their employees. Fortunately this type of coverage is rated per hazards the employee might face at their place of employment. A retail or office clerk faces less daily hazards than an employee working a mill or manufacturing plant. Rates for Workers Compensation are based on the number of employees, the number of hazards the employee faces and the loss ratio (a percentage determined by the amount paid in claims compared to the amount paid in premiums).
Habitational insurance provides both General Liability and Property (building) Insurance for owners of apartment buildings. This type of business policy has similar features to a homeowner’s policy such as Building structure coverage, Personal Property protection, Medical Expense, and General Liability.
General Contractors tend to oversee a construction project while Artisan Contractors perform once specific trade – plumbing, electrical work, brick laying, painting, or roofing. The Artisan Contractors policy is General Liability, Building protection, and Personal Property. Addition coverages are offered for Contractors Tools and Equipment, Electronic Data Processing, Free-Standing Fences and/Walls and/or Mechanical Breakdown Coverage.