Small Business Unit
Purchasing small business insurance can be very complex and confusing. As an experienced small business agent, Bouchard Insurance will negotiate with carriers to customize an insurance portfolio that meets the specific needs of your business. Our sales team will discuss your commercial insurance needs with you and will walk you through the application process.
The four broad risk exposures that every business faces are that of:
Liability loss exposures – These types of claims and losses typically come from negligent accidents. Some accidents can be caused by civil wrongs and/or criminal wrongs. Some accidents can be negligent and some accidents can be intentional. Having the correct insurance policy in place is important to ensure that you have the protection that you desire. The most common types of insurance policies for these types of exposures, mainly negligent liability losses, are:
- General Liability
- Professional Liability
- Directors & Officers
- Employment Practices Liability
- Automobile Liability
- Excess Liability
Income loss exposures – These types of claims and losses normally affect your financial cash flow. These can be claims or losses to your income from loss of rents, loss of tuition, loss of sales, etc. due to a covered loss. The income loss can be both to the company as well as the individual. An individual could suffer income loss due to a disability, sickness, loss of employment and/or injury. The most common types of insurance policies for these types of exposures to loss of income are:
- Workers’ Compensation Insurance
- Business Interruption Insurance
- Loss of Income Insurance
- Loss of Income Extra Expense
Property loss exposures – These kinds of claims and losses are usually the most tangible of all claims. These are claims arising from losses to your buildings, appurtenant structures, automobiles, inventory, raw materials, contractor’s tools and equipment, personal contents, mobile equipment, leased equipment, furniture and fixtures, intellectual property, Accounts Receivable, Accounts Payable, to name a few. The most common type of insurance policies for these types of exposures to loss of property is:
- Business Property Insurance
- Automobile Insurance
- Inland Marine Policy
- Ocean Marine Policy
- Contractor’s Tools and Equipment
People loss exposures – These types of claims and losses usually arise from injuries to employees, volunteers, and third parties. Employees can be injured on the job becomes sick on the job and can become disabled or die on the job. The same type of exposures can also affect a non-employees and volunteers in the same manner. The most common type of insurance policy for this type of exposure is:
- Workers’ Compensation Insurance
Contact us for additional information.