What is the Best Business Insurance?

It depends! Finding the best business insurance for many small businesses can be a challenge. Most small business owners in Kentucky will see that they have multiple options. Generally, competition leads to lower prices for canny consumers. With that said, commercial insurance is not a commodity and finding the best value may take a little effor.

Prices paid for Kentucky business owners insurance may range widely. Chances are, the more unique your business is, the tougher it will be to find a great deal on commercial insurance. Ferreting through the long list of products makes it difficult. 

Insurance Options

To find the best commercial insurance for you, start by reviewing your options. Not all insurance companies write businesses in Kentucky and some small businesses will find that they don’t have a lot of options.  Auto dealerships, certain trucking classes, and roofers are good examples. Regardless, it is important to continue your search.  

TruePoint Business insights and solutions.  Business consultants

Price

Commercial insurance premiums can be a cause of friction.   Would you buy a commercial auto policy if it only provided coverage on Saturday and Sunday?

If you could buy it at 10% of the competitor’s price would you do it?

Of course, you wouldn’t! This ridicules and silly example is used to get a point across. Price is significant! But only after you have determined that the policy is suitable for your business. 

insurance policy, we are discussing best business insurance Kentucky and this image represent that

Coverage

There are many insurance agents, broke, s and carriers that sell on price alone.  Each of them would love for you to believe that insurance is a commodity. Business owners beware. As the business owner or manager, it is your responsibility to make sure any business insurance policy being considered has the coverages that you need.  When comparing multiple policies, make sure that they are on par with each other.  It is the agents job to provide a quote that is comparable to your current coverages.  However, it is your business that will bear the brunt .

Great insurance agents don’t sell, they inform and advise. First, they take the steps to understand the prospective business.  And hopefully, an understanding of the risk aversion of the prospect. After generating quotes and putting together a proposal.  The question of price can now be considered.  By interacting with the insured, risk management decisions can be made incorporating both coverage and price information.

Great insurance quotes don’t use deceptive practices to alter the relative value. The following are just a few ways that we’ve seen this attempted in the past:

Commercial insurance for roof blown off, business insurance deductibles in % beware

• Deductible changing a deductible from $500 to $1,000 without consulting the client isn’t a smart thing to do. Watching your deductible and other varabiles that make up your commercial insurance policy is wise.

By committing to review your insurance policy when quoting and at renewal time you will also avoid some more adverse outcomes. While the dollar-based deductible change is concerning, beware of any deductible expressed as a percentage. Anymore it’s not uncommon to see 1% or 2% deductibles, especially for the wind/hail deductibles. If the deductible were 1% of the loss, there would be no issue. But it’s not; a 1% deductible is based on the policy limit. So if you have an office with a $600,000 value or limit, the deductible is $6,000 at 1%/ $12,000 at 2%.

Assume you have a 2% wind/hail deductible. A windstorm hits that result in $8,000 in damages. At first blush, a 2% deductible on an $8,000 claim is $160??

WRONG!

Your deductible $12, 0000. You pay for all the repairs.

• Read your application.  There are a lot of questions, people make mistakes, and even worse sometimes they assume. By signing the application, you are attesting to the accuracy of the information that is being provided.  Down the road, supplying the insurance company with bad information may muddy things up.

• What does your General Liability say about you? Your Commercial General Liability premium is a result of what and how much you do. You should review both for accuracy. Consider the following. 

You have the opportunity to be an insurance company. Today you can write a General Liability insurance to one businesses only.  Regardless of your choice, you will receive a premium of $500.  

Tree Removal insurance kentucky

The first company you can insure is in the Tree Removal Business.  They also do lawn-care, snowplowing, and building demolition.  There current policy indicates that they are in the lawn-care business.  The owner argues that this is correct as 50% of their revenues come from mowing lawns.

insurance for lawn care business in Kentucky

The second company is a Lawn Care Business? The mow lawns.  Period!

Pick one.  Remember, the premium will be the same regardless of your choice.

The point is you need to know what type of business your insurance policy says you are.  What if you’re the first business? 

Do you think he will be covered if a tree falls on a house?

How much?  How much business you do is also important.   Premiums for Commercial General Liability are primarily a function of what you do.  What you do has multiple meanings. For example, the type of work you do, how often you do it, how many people help you, how long you’ve done it and how many losses you’ve had.

What will happen If your application states that you have a payroll of $34,000.  When the truth is you have a payroll of $95,000?

Houston we have a problem!

Rocket launch pad, experiencing problems similar things can happen to your commercial insurance

After your policy has been in force for a full year, your insurance company will perform an audit. At this point, they will discover that your payroll is almost three times higher.  What happens? They will send you a bill to offset the difference. Hold on. Things are about to get worse. After plugging your true payroll into their system, you will start receiving significantly higher bills.  One last carpet bomb; you know have a policy that is costing $2,000 more per year than advertised. In hindsight, you now have to question your decision. What appeared to be a $400 savings appears to have cost much more than the policy with all the bells and whistles. Wow!

But this is not the end of the process; it is ongoing.

Great insurance is a two way street between the agent and the business owner. Constant communication aimed at awareness and identification of ever-changing exposures. Feedback to this should come in the manner of risk transfer options.  This should include their cost and some form of analysis.  The end result gives the business owner the ability to make an educated decision.

Business Insurance, we are insuring businesses in kentucky

There is an answer to what is the best business insurance. Unfortunately, it isn’t as simple as the insurance company or that insurance agent. It is a function of where you live, what you do, and what you need in regards to insurance. The formula should be extended to what insurance companies you can access.  The final factor maybe the easiest place to get off track.  It is critical that you find and agent or broker that is knowledge and transparency.

In short, you are the key to determining what the best business insurance for your business is.

What is Contractors Errors & Omissions Insurance

Are you an artisan contractor that doesn't have Contractors E&O insurance?  You may have gaps in your coverage.
How bad are the gaps in your insurance?

The Commercial General Liability policy leaves several liability exposures for contractors.  The General Liability policy doesn’t cover faulty work due to negligence, or to damages to the work of the contractor.   

Contractors E&O has been already, but until recently, only limited options existed.  Contractors now have access to reasonably priced insurance that closes some very significant gaps.

Snapshot: Insurance for Plumbers

We repair what your husband fixed! #Plumbers Lives Matter

Insurance is a critical part of any small business.  It protects customers, employees and your business when things go awry.  Plumbers and other Artisan Contractors use insurance.  There are multiple forms of Liability insurance.  They can protect employees, clients or others that come in contact with your efforts.   Contractors that own buildings or business personal property can utilize Commercial Property Insurance.   Several construction-related trades, including plumbers, are subject to state licensing requirements.  Part of the licensing process is to provide proof of insurance.

Commercial Insurance Snapshot:

Plumbing Contractors

Most contractors, including plumbers, have Commercial General Liability policies. The policy which is often referred to as CGL or GL protects when your actions cause bodily injury or property damage to another.  These claims are normally settled by financial restitution to the damaged party.  However, when necessary the insurance company may provide legal defense.

In order to be licensed as a plumber in Kentucky you will need to provide proof of insurance.
Plumbers need insurance.

Property insurance is another common form of coverage. This would be a recommended coverage for plumbers that own a commercial building.   The Commercial Property Policy will also provide protection for business personal property. Covered items

Include office furniture, equipment, machinery, inventories, and more.

Business Income insurance protects you and your business.  Following an insured property loss, the coverage provides financial restitution to your business.  A portion of  the  lost income will be covered during the term defined by the policy. 

The policies above may come as standalone policies.  But most small businesses can package the coverages with significant savings. The packaged policy is referred to as a Business Owners Policy or BOP.

Do you have Plumbers Errors and Omission Insurance?  We highly suggest that you take a few minutes to consider it!
Plumbers need Contractors E&O Insurance

Other coverages used by plumbers include:

• Commercial auto insurance: Business Vehicles

• Inland marine insurance: Property that moves from one job site to next

• Installation floater insurance: Installed, Fabricated or Erected

• Workers compensation: Covers employees’ medical costs and lost wages

Contractors E&O, it’s now more available, but still underused

Construction trades need to consider Contractors E&O.  It fills a lot of gaps with the largest being insurance for negligence of the insured.
Are you insured for Negligence?

Contractors Errors & Omissions insurance (Contractors E&O) is a form of liability coverage. The coverages can be crucial to many contractors, including plumbers. It is designed to protect from potential liability exposures arising from alleged negligence.

It covers the work of the insured, yours, which is something that would not be covered by the CGL policy, is now covered.

Why haven’t I heard of Contractor’s E&O before now?

Errors and omission coverage has been around for a long time. However, they have focused on the service sector and health care businesses.  Real estate agents, and insurance agencies are examples of professional liability insurance users.

Another example that most have heard of is Medical Malpractice.

What is contractors E&O?  It is somewhat akin to Medical Malpractice.  It covers negligence and work of the insured..
Medical Malpractice Insurance

 It is professional liability insurance for Doctors, Hospital, and other medical sectors.

Professional liability insurance has been around awhile.   it has not been widely available to small contractors. That’s due to the relatively low number of insurance companies willing to write the exposures. 

Contractors E&O insurance has major gaps. The same is true regards General Liability. Put the two together and watch the gaps disappear.

With a mature market, there is no longer an excuse for retaining negligence related risk.   Quality coverage at affordable premiums makes transferring the risk a relatively simple decision. Now plumbers, electricians, and several other specialty contractors can better manager their Liability exposures.

Why do small contractors need Errors & Omissions coverage?

What will you do if your insurance agent suggests Contractors Errors & Omissions coverage?  I would suggest that you listen. Before looking for excuses and justifications for not buying, listen!  If you do, there is a very good chance that you will be thanking your agent when you’re done.

Adding Contractors E&O fills a large number of gaps in your General Liability policy.  This alone makes the E&O attractive.  But don’t forget, we live in a litigious world.  We are all one bad day from having your world turned upside by a customer lawsuit.

Workers Compensation

Insurance term, definition. Workers Compensation, Workers Comp

What is Workers Compensation Insurance?

American Business-Owners acknowledge the importance of fair dealing with their employees.  The safety net they need is best found by having a Workers Compensation Policy in place.
Workplace Injuries

Workers Comp is a form of insurance designed to assure that resources will be in place to assist injured workers. The injured employee receives replacement wages and medical benefits. The insurance provides protection for employment-related injuries.

Premiums paid for Workers Compensation insurance are not made by the employee. The employer bars 100% of the cost of Work Comp coverage. While there is no financial cost for employees, the cost is associated with their ability to sue.

Kentucky Personal Auto Insurance Insights

What is Personal Auto insurance?  Is it the same as Car Insurance?  Read on and learn more about Kentucky car insurance.

What’s your biggest risk

I remember when auto insurance came in two flavors, state-mandated liability insurance or full coverage car insurance.  Of which the latter, I am told, no longer exist.

Teen drivers.  When your children start driving two thing happen.  Fully understanding one is critical.  
First, your auto insurance is going to skyrocket.  The critical event is your risk you expose your kids to when you hand them the keys.  TruePoint can help, (502) 410-5089
25% of accidents due to texting and driving

Changes in the law, insurance options, and technology have significantly altered how we buy car insurance.  But the combined impact of these factors pales in comparison to the litigious state of America. 

It seems every time you turn around, another legal exposure pops up.  In the US, cars are the leading cause of injuries.  With that said, it is easy to comprehend that for individuals in Kentucky, the vast majority of our exposure comes from our cars.    

Kentucky car liability insurance seems to be more critical than ever before.   And it’s not going away anytime soon.  In the meantime, there are only a few things we can do to reduce our risk.  The biggest impact will come by having a better understanding of insurance and how consumers can best acquire car insurance in Kentucky

Kentucky Auto Insurance Law

Most Car Accidents: It’s the other dude’s fault

While the requirements vary from one state to the next, every state requires car owners to have auto liability coverage.    A handful of states, including Kentucky are No-Fault states.  As a No-Fault auto insurance state, auto owners in Kentucky must approach risk management differently than many of their neighbors.  To start, Kentuckians must deal with Personal Injury Protection or PIP.  Click here for more information on Kentucky’s No-Fault Insurance Program.

Kentucky Minimum Auto Liability Insurance Limits (Required Coverage)

Like other states, Kentucky has mandatory minimum auto liability limits, with minimum limits for Bodily Injury and Property Damage.  In 2018 Kentucky raised the requirement for auto liability insurance.  Additional information can be found at:

kentucky-car-insurance-state-auto-insurance-requirements/

Kentucky Base Car Insurance Coverage

Base auto insurance is composed of the mandatory liability coverages above and the following three optional coverages.

•    Collision:            The result of a vehicle colliding with a car or other object

•    Comprehensive:        Other than collision

•    Uninsured motorist and underinsured motorist: pay for your injuries when the at-fault driver has no insurance or has insufficient insurance limits.

For additional information related to Kentucky required and base auto coverage.

Optional Kentucky Car Insurance Coverage

Some of the coverages below may be beneficial to you.  Others may eliminate significant gaps in your current insurance policy.  This list intends to generate discussions.  These coverages vary among insurance companies.  Make sure to understand the coverages and limits

•    Road Side Assistance

•    Rental Car

•    Rental Car Gap Coverage:       

•    Additional Expense

•    Loan Gap/ Lease Gap

•    New Car Replacement

•    Reduction in Value

•    Identity Theft

•    Re-Keying

•    Cell Phone Coverage:           

•    Non-Owned Trailers

•    Trip Interruption Coverage

•     …and more

TruePoint Auto Insurance Insights

Your insurance company, Mother Nature, and you; each have an impact on your insurance premium.   But before you can have an impact on your car insurance premium, it’s vital that you understand the factors you need to address.

Stop leaving money on the table

Insurance companies are perpetually reconsidering the nature of every risk that they insure.   Accounts flagged as high risk will experience more rapid premium increases and in some cases, may be non-renewed. 

Clients deemed conservative or lower risk experience the opposite as insurance companies make every effort to retain that business.  If you seriously want to stop leaving money on the table, then this is important to you.  The first step is to understand the characteristics of a low-risk account, then mimic them. 

Factors that influence auto insurance premiums

Life Happens, and when it does it can Impact Auto Premiums

•    Age:        Younger and older drivers pay more for car insurance

•    Household:     More drivers in the home can lower rates

•    Location:    State, city, zip.  Each impact premiums

•    Education:    Education is a factor in some states (Prohibited Practice in Kentucky)

•    Financial:    Insurance Score, which includes Credit Score, is a significant component

•    Vehicle:        The type of vehicle, sports cars may lead to a higher premium, vehicles with a high GVW will!

•    Tickets:        DUI’s & Reckless Driving create substantial problems, but minor violations add up

•    Accidents    Impact varies due to cause, severity, past driving record, and other factors 

#Your Actions Matter    Protect everyone in your home, and save money on your auto insurance

•    For insurance companies, Conservative is King!  Avoid anything that appears radical or aggressive.  Think Mr. Rogers.  Gen X, think Barney.

•    Check tire pressure, tread and sidewalls regularly

•    Confirm that headlights work on both dim and bright

•    Regularly check taillights, brake lights and turn signals

•    Encourage drivers education and safety for all household members

•    Zero Tolerance for Distracted Driving

Stop leaving money on the table    Take advantage of discounts offered by Insurance Companies

•    There are several ways to reduce the cost of auto insurance.  Program availability and savings vary based on Insurer.

•    Some of the most significant discounts are available to those that can qualify for any of the following: Safe Driver, Multi-Policy, Continuous Insurance, and Good Payer discounts

•    Don’t worry if you didn’t qualify for any of the previous programs. There are still a lot of ways to save.  Savings associated with this group range from the high single digits to low double digits.    Early Quote, Multi-Car, Driver Training, Good Student, and Paid in Full Discounts

•    New Car, Home Ownership, Student at School, and Hybrid Vehicle Discounts:

These are a few of the more commonly offered discounts

Principle of Indemnity

Insurance term, definition.  The principle of indemnity is an insurance term.  What is meant by insurance principle of indemnity
principle of indemnity states that the insured is returned to condition just prior to loss
The Principle of Indemnity

To understand insurance one must first grasp the principle of indemnity.  The theory is applied to insured losses and seeks to provide fair compensation.  Fair compensation to parties, the insured and the insurance company is required.  Resolving most losses is unambiguous.  Others test the service skills of the insurance agency and require both the insurance company and the insured to commit to the principle of indemnity.

A cornerstone for insurance, the principle of indemnity requires that an insured may not be compensated more than there economic loss.  The insured cannot profit from a loss.  If losses became a way for policyholders to generate profits, then insurance companies would become subject to adverse selection.  This in the quickly cause insurance premiums for all property and casualty policies to rise.

What is Comprehensive Insurance?

Deer, Hail, Vandalism and all other than collision claims can be covered with comprehensive coverage added to your KY car Policy.
Comp Claim

There are two coverages that protect your vehicle if it is damaged.  Collison coverage covers accidents that occur when your vehicle collides with another vehicle or object such as a fence, mailbox or tree.   Comprehensive insurance covers your vehicle when the damages result from other than collision. Comprehensive coverage may be referred to as other than collision coverage.

Examples of Comprehensive Coverage

If your auto insurance has comprehensive insurance then you will be protected in the event your car is stolen or vandalized.  Comprehensive or Comp coverage will also protect you from Mother Nature.  Damages caused by wind or hail storms are covered by Comp.  The coverage will also protect you from fire, flood and wildlife, such as deer.     


Comprehensive is not a standard feature

While not included with a standard car insurance policy, the coverage can be included.  While many drivers choose to include this coverage, adding it should be a decision for the insured.  We advise clients to consider the cost of the coverage relative to the value of the car before decided to add or waive the option.

Louisville, Kentucky…..Instant Online Insurance Quotes

Louisville, Kentucky home to the fastest two minutes in sports

Louisville, Kentucky is known around the globe for being home to the fastest two minutes in sports. Similarly, TruePoint Insurance in Kentucky is known for rapid real-time, online, insurance quotes.

TruePoint, home of the most enjoyable five minutes in insurance

We often find ourselves boasting that our real-time online quotes are the most enjoyable five minutes in insurance.  While this may sound like hype, we can support our claim.  Typically online quotes are anything but online quotes.  If you don’t believe me, go ahead and give it a try.  Take the next 10 to 15 minutes of your life and complete the online form.  When you have reached the final page, what do you see?  Or should I ask, what don’t you see?  Probably not a quote.

What makes our quotes different? 
Online insurance quotes in real-time
Insurance Quotes:
Online and in Real-Time

You have set your self up for 4, 8, maybe even 12 calls over the coming days.  Insurance agents all hoping to give you what the original ad promised; an insurance quote. Why did you go online for your insurance quote? 

  • Convenience, the promise of information at a time that fits into your busy day. 
  • Insurance Agents, If you have ever tried to buy insurance, you get this one.

Odds are, you were trying to avoid talking with an insurance agent.  You are going to get pretty frustrated.  Now, instead of one insurance agent, there will be a dozen. 

TruePoint online quotes recognize your needs and time constraints.  When you finish our online form you will have a quote for your car insurance, home insurance or maybe a quote.  More importantly, we’ve made the agent disappear. 

Ok, so the thing about the agent disappearing is our Hype!  But the truth is, the ball is in your hands.  To issue a policy you will need to talk with an agent.  

What horse won finished first in the 2019 Kentucky Derby?

Ok, maybe we are not as well known as the derby,  but we give you real-time home and auto insurance quotes without a Racing Steward.  That doesn’t make us the best insurance agency for everyone, but with our customer-focused approach, the number two agent isn’t going to beat us.  

While others are spending their time trying to make insurance interesting, we are making every effort to simplify the process by putting information at your fingertips.  Instead of trying to make insurance exciting, our client portal places all your important insurance information in one convenient location giving you more time for things that are a little more exciting than insurance.

While some might disagree, we know that insurance is ready for  Prime-Time and our clients can attest to that.  While others are taking time away from their work or otherwise busy schedule, our clients are interacting with us through our online client portal.  While others are watching Dancing with the Stars, our clients are online adding their new car to their insurance policy.

It’s that simple.  Our client-focused approach is how we Justify asking you for your business.

Liquor Liability Insurance

Insurance for bars and restaurants must include a form of coverage known as liquor liability insurance, also known as dram shop liability insurance.
If you serve alcohol, you need liquor liability insurance

Today we measure the amount of alcohol used in drinks by the shot.  But in colonial America gin and other alcoholic drinks were measured in unit shared by apothecaries.   This measurement was known as a Drachma or Dram.   

Dram Shop Liability Insurance, more commonly knowns as Liquor Liability Insurance is the insurance vehicle used to transfer liquor-related liability that is a part of serving or selling alcoholic beverages.  This coverage provides protection against serving intoxicated individuals or minors. 

Who is required to have a Liquor Liability policy?  If you own a bar or any other venture that sells or serves alcohol, most states will require it.
Protect yourself from intoxicated guests.

When individuals drink too much they not only pose a risk to themselves, they are also a threat to others.  As an owner of a restaurant and bar, you have potential financial exposure if you allow intoxicated patrons to drive. 

Alcohol at weddings: Step 1, hire a qualified bartender.

But bars and restaurants aren’t the only places that you will find liability associated with alcohol.  Liquor Liability can show up at casinos, sporting venues, and even the office Christmas party.  Individuals are not exempt for this exposure.  Graduate parties, reunions, and even your wedding could be marred by the actions of an over-served guest. 

Liquor liability insurance will help you reduce your exposure should an unfortunate event occur. But your first and best way to reduce your personal exposure is to hire a professional bartender. Pouring drinks is the easy part of bartending, not pouring one to the wrong person is the real job.

Motorcycle Safety Starts With Motorcycle Insurance

Fisherville, KY is known for its beautiful weather. Whether you’re visiting or living in the area, you are sure to enjoy any of the four seasons. During the warmer weather, there’s nothing better than exploring Fisherville by taking a motorcycle ride. Regardless of the time of year that you’re riding, though, it’s pertinent to be as safe as possible. TruePoint Insurance is here to keep you as safe as possible when riding your motorcycle, which is why we’d like to share a few safety tips with you. 

Always look both ways

Motorcycle drivers and riders have to be extra careful when coming to intersections. Even when all other drivers on the ride are being safe, it’s still quite easy not to see a motorcycle. This is why you as the motorcycle driver should take extra precaution when going through an intersection. Even if you have people behind you waiting to turn or go through, make sure to take an extra second or two to look both ways several times before you go through the intersection. 

Get motorcycle insurance

Motorcycle safety also includes having proper insurance. To hold insurance on your motorcycle, you will need to provide proof that you have a legit motorcycle driver’s license or permit. It’s during your training to get a motorcycle driver’s license that you will learn the ins and outs of motorcycle safety. 

If you would like to learn more about the many ways you get to stay safe on a motorcycle, make sure to contact TruePoint Insurance serving the Fisherville, KY area. Our agents are ready to keep you safe while meeting all of your motorcycle insurance needs. 

 

Commercial Insurance


Commercial insurance is defined as:

definition, define, define insurance, define commercial insurance, define business insurance,
Define Commercial Insurance

The definition of business insurance will likely vary depending on who you ask. The explanation may even change depending on how you ask it. It goes by a lot of names. You may hear it called many things. Business insurance, commercial business insurance or property & casualty commercial insurance.

TruePoint insurance defines commercial insurance as:

Insurance coverage for businesses that provides protection against a broad range of P&C claims. The term commercial insurance is used to describe several insurance policies. To determine which you need, you should, first, determine the risk faced by your company. A commercial insurance policy should also provide defense cost in the event of a lawsuit. This protection should be available regardless of the legal merit of the case.

TruePoint doe commercial insurance call us to speak with a business insurance specialist
we are insuringky.com

What should your Business Insurance Policy look like?

commercial insurance, TruePoint specialized in commerical insurance in Kentucky,  AKA Kentucky Business insurance
Business Insurance Policy

We stated the definition of commercial insurance might change. The truth is, it will change. The answer will vary based on who you ask, and maybe how you ask. Who you are will also alter the definition……… What type of business do you own? Do you have employees? Do you use vehicles in your business? Do you own buildings or other property? Do you need commercial insurance? These questions are just the beginning of defining your unique commercial insurance needs.

Property and Casualty Insurance

The term commercial insurance policy defines a vast range of coverages. Each offers a vehicle that provides specific protection to your business.

We can start by breaking insurance into one of three categories, Property, Casualty or both. The property will relate to (buildings, furniture, inventories, vehicles, and equipment.) The Casualty coverages protect against liability claims. Coverages include General Liability, Workers Compensation, Professional Liability, and many others. Most small businesses will find the third option most attractive. A Business Owners Policy or a BOP.

The benefit of the BOP is that it packages the general liability and commercial property. The packaging allows for more efficient and effective coverages. As it relates to Kentucky Business Insurance, BOP’s provide more coverage at less cost.

Knowing the coverages you need is more than half the battle

Business insurance is written in five major coverage lines. These lines are identified and briefly described below:

Commercial General Liability Insurance (or CGL) Protects when actions of the insured or an employee lead to property damage or bodily

Commercial liability insurance in Kentucky is most often referred to as General Liability insurance, commercial general liability insurance or CGl. GL.
Commercial Liability Insurance

injury of another. The policy should also provide coverage in the event the business must defend itself in a court of law.

Commercial Property Insurance The primary target of this coverage is owned and possibly leased buildings. In this section, you will also find coverages for the business personal property. This includes furniture, inventory, tools, some equipment and more.

TruePoint Insurance, Specialist in Kentucky Commercial Auto.   Need Business Auto insurance in Kentucky?  Give us a call 502-410-5089
Business Auto Insurance

Commercial Auto Often referred to a Business Auto it covers vehicles that are owned or leased by the company. As a personal auto policy does, the Commercial starts as liability coverage. Comprehensive and collision coverages can be added, as well as other additional items. A good example of a valuable add-on is a coverage know as hired or non-owned. It provides protection to an employee or volunteer autos during work-related activities.

Inland Marine Insurance One use is equipment or mobile equipment operated off-site known as commercial floaters. There are many more coverages that fall into this section.

Workers Compensation used to provide financial remuneration to employees injured while performing work-related activities.

There are many more coverages, most of which fall under one or more of the primary lines above. A few examples include:

  • More specialized liability coverages include:
  • Professional Liability or Errors and Omissions (E&O)
  • Garage Liability a form of CGL for auto garages, shop, dealers and more
  • Directors’ and Officers’
  • The property section contains many optional coverages and endorsements. What if any of it do you need? Including items such as
  • business interruption (aka business income),
  • earthquake coverage
  • flood insurance
  • water backup
  • utility disruption,
  • equipment breakdown and many more.
  • Trucking insurance is an example of a specific form of commercial auto insurance. Another form that we often see business auto insurance is referred to as hired and non-owned.
  • inland marine is our all other buckets. Below are just a few examples.
  • Bailee’s Coverage– Property of others under your temporary care. Think about a Dry Cleaner. Do they have coverage clothing? That’s Bailees.
  • Builder’s Risk- Insurance while a building or home is under construction.
  • Cameras
  • Communication equipment and towers
  • Computer Coverage
  • Contractors Equipment
  • Commercial Floaters
  • Property In Transit
Don't drive past Kentucky's Elite Business insurance agent,  Commercial insurance at 1085 Eagle Lake Dr, Lawrenceburg, KY  40342
Commercial Insurance

Identifying risk and understanding coverages

For centuries mankind has solved problems by finding solutions or answers to our questions. While it’s great to have a trusted resource or go to for every issue, there are times in life where we are on our own. When this happens, logic and common sense will go a long way.

If I don’t own a building do I need property coverage?

You might. Do you have an inventory or equipment that should be insured? Even if you don’t own a building, you still might need to insure one.

Does your lease require you to insure the building?

My business is family owned and operated; everyone that works here is related to the owner, me, the owner.

Do I need workers compensation insurance?

Kentucky business owners have the right to reject workers compensation coverage. If they’re not business owners, the state workers compensation commission will expect everyone to have insurance. Workers Compensation can be complex. That’s why we request clients to speak with an attorney before waiving any coverage. Learn more at Kentucky Workers Comp.

slow down or you will drive past Kentucky's best business insurance agency.  Commercial insurance at 6287 Taylorsville Rd, Fisherville KY  40023 or call 502-410-5089
Business Insurance

Why do I need CGL and E&O insurance?

It is possible. Some professions should have both. The coverages cover two different sets of risk. Why E&O or professional liability is typically associated with professional services, it also provides protection in the event of incomplete or shoddy work. Something that your CGL will not cover. Learn more.

Questions, feel free to reach out to a TruePoint agent. You can reach us at (502) 410-5089.