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At TruePoint, we understand that running a business is tough; it is more than a full-time job. We also understand that the process of buying insurance for your business is taking time out of your already to busy schedule. However, commercial insurance is a critical part of every risk management plan and it’s important to every business: yours included. As a result, we work hard to develop and maintain lines of communication, focused on maintaining quality business insurance coverage without having to take you eye of what’s truly important; your bottom-line.
INSURING KENTUCKY BUSINESSES
TRUEPOINT FOCUSES ON THESE AND MANY OTHER INDUSTRIES
Contractors (Not Classified)
Masonry and Concrete
Street or Road Paving
Religious / Church
Child Care / Day Care
Farm Equip. Dealers
Festival Gun Range
Horse Stables / Arena
Hotel / Motel
WHAT TYPE OF INSURANCE DO YOU NEED?
If this is your first venture into commercial insurance, things may seem a bit confusing. Don’t panic, take a deep breath and think logically. Start thinking about what might go wrong then work backwards to make sure that there are no gaps in your policy. Here are some examples:
What would happen if someone slipped on the sidewalk during a snowstorm?
Could you and/or your business be sued? Of course, this is America, right! If you were found to be liable for damages, you would turn to your Commercial General Liability Policy for protection. Depending on your policy, you may have coverages that will pay or help pay for your legal defense.
Does your business own any buildings or other structures?
If you answered yes to this, you need to consider a Commercial Property Policy to protect your investment in the event of damage. Even if you don’t own any building or other structures, a Commercial Property Policy may still be needed. Items such as office supplies, furniture, computers, inventories, and other business personal property, could all be covered under this type policy.
Does your business have employees?
If you answered yes to this, and don’t have a Workers Compensation Policy in place, then a visit to your insurance agent needs to be a high priority. The Workers Comp Policy is essential. Not only does it provide a resource for any employee injured at work, but also, laws in each state mandate it.
Are there any vehicles, owned by you, your employees, or volunteers used in your business?
Vehicles used by your business present a possible risk for your business. Even if the vehicles are covered by a personal insurance policy, your business is still exposed. If you answered yes you should speak to an insurance agent that has experience with commercial auto insurance to determine whether your business needs a Commercial Auto Policy.
What is an Inland Marine Policy and why do I need it?
The Inland Marine Policy cover a wide range of moveable property such as computers, construction tools and equipment, photography equipment and more. This line can also be used to insure the property of your clients that has been left in your control, also referred to as Bailee’s Coverage. It can be used to protect property under construction or during installation with Builders Risk Coverage or an Installation Floater. The Inland Marine Policy is also the line that provides goods that your business transports under the Motor Truck Cargo Coverage.
TruePoint provides all the above lines of insurance and coverages. Other coverages that we provide include:
|Bobtail Insurance||Bobtail Insurance is a form of Liability insurance for semi-trucks when it is not hauling a trailer. Bobtail insurance should not be confused with Non-Trucking Liability Insurance (described below).|
|Business Income||Business Income insurance is used to insure that your business keeps going following a significant infrastructure loss. Your commercial insurance policy may be in the form of a BOP or Business Owners Policy. If so, check your policy, as Business Income insurance should be included.|
|Commercial Excess||The Commercial Excess Policy is the equivalent of the personal lines umbrella insurance. It is a liability insurance policy with a stated limit that applies and can be blanketed over multiple lines of coverage. The policy pays only when the stated limits of the underlying policies are exhausted. Each insurance company has mandatory limits that are required for the underlying insurance policy.|
|Contingent Cargo||Contingent Cargo Insurance or freight brokers insurance is used to protect against gaps for shippers and truckers. It is most often used by Freight/Transportation Brokers, Logistics, Freight Forwarders, and import/export businesses.|
|Dealer Blanket Coverage||Provides comprehensive and collision coverage for dealer inventories.|
|EPLI||Employment Practices Liability Insurance or EPLI provides protection form employees claims of employment related issues such as discrimination, harassment, wrongful termination and more.|
|Error & Omissions (E&O)||Also referred to as Professional Liability this specialized liability coverage is aimed at protecting businesses that provide services and advice.|
|Garagekeepers Coverage||Garagekeepers Coverage provides coverage for the vehicles left with a garage business to perform service.|
|Garage Liability Coverage||Auto, truck, motorcycle and RV dealers utilize Garage Liability Coverage to protect against injury and physical damage claims while operating owned vehicles or for customers testing driving dealer vehicles.|
|Non-Trucking Liability||Often referred to as NTL and confused with Bobtail coverage. Protects you from liability associated with accidents that occur when a semi truck is being used for personal use. Caution to the wise as the definition of personal use may vary as it is subject to court determination.|