Commercial

General Liability Insurance

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Commercial General Liability Insurance Protects Your Business From Common Liabilities.

Your business faces liabilities every day. The only way to protect your assets is to carry adequate business liability insurance. A Commercial General Liability (CGL) insurance policy is the first line of defense against many common claims.

General Liability insurance covers claims of bodily injury or other physical injury or property damage. It is frequently offered in a package with Property insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business. Commercial General Liability enables your business to continue operations while it faces real or fraudulent claims of certain types of negligence or wrongdoing.

Commercial General Liability – The Most Basic Form of Business Insurance

If you have only one form of business insurance, it is most likely Commercial General Liability. CGL policies cover claims in four basic categories of business liability:

  • Bodily Injury
  • Property Damage
  • Personal Injury (including slander or libel)
  • Advertising Injury

In addition to covering the claims listed above, Commercial General Liability policies also cover the cost to defend or settle claims – even if the claims are fraudulent.

Property Insurance

Business Property InsuranceCommercial Property protects your business against the loss or loss of use of company property. “Property” can include a variety of types: lost income or business interruption, buildings, computers, money, and valuable papers.

The Foley Insurance Group has combined the different types of protection that business owners need most into one cost-effective insurance plan. They’ve also tailored these pre-packaged plans for different types of small businesses.

Additional Optional Coverage Includes

  • Protection to insure that if your building is destroyed and it costs more to demolish and rebuild it to code than its current value
  • Full glass coverage
  • Full sign coverage
  • Coverage in the event of equipment breakdowns caused by power surges, mechanical malfunctions, and boiler explosions
  • Protection if your accounts receivable records are ever damaged or destroyed by a covered loss
  • Coverage for any physical loss or damage to your computer hardware, loss of data, and computer software
  • Other popular industry-specific options, including coverage for contractor equipment and tools, installation, peak season, transit insurance, and valuable papers, among others

Workers Compensation

Workers Comp InsuranceAccidents happen – it’s part of life. Whether the accident warrants a quick trip to the emergency room or a lengthy hospital stay, medical expenses are involved. When the accident occurs on the job, it’s the employer who picks up the tab. Unless the business is one of the exceptions, Workers Compensation Insurance is not an option! Why? As a rule, a company with five or more employees is mandated to purchase Workers Compensation Insurance to cover medical expenses, permanent disability, and a portion of the injured employee’s wages. On-the-job injury resulting in the death of an employee is also covered; a death benefit is paid to the worker’s beneficiary. Companies can’t afford not to purchase Workers Compensation Insurance: under the law, a company who pays out Workers Compensation is protected from civil lawsuits regarding injuries on the job.

Still not convinced of the need for Workers Compensation Insurance? For companies who violate the mandate, the law is quite unforgiving: it’s a Class A misdemeanor not to provide coverage for workers, with severe monetary penalties. Repeated violations upgrade to a Class D felony. Termination of an employee who is injured while working and/or who files a Workers Compensation claim is also illegal. To further comply with the law, information regarding the insurance carrier and contact persons should be in a prominent place so that employees can readily access the information on short notice. Providing immediate medical help and calling both the insurance carrier and the Division of Workers Compensation are also compulsory.

The Division of Workers Compensation of the Department of Labor and Industrial Relations is the administrator of all things related to Workers Compensation. This agency makes certain that companies acquire coverage and handles false claims as well as disputes, besides the details of accidents from the insurance companies and the company where the injury occurred.

Business Auto Insurance

Business Auto InsuranceBusiness Auto insurance provides valuable protection for your company-owned vehicles, as well as leased or rented vehicles and your employees’ vehicles used for business purposes. It covers you in case of injury to others or their property, or for damaging other vehicles.

Coverage can combine two basic elements: liability and collision/comprehensive options. Liability protects you in case someone claims that you—or someone driving your insured vehicles—are legally liable for either bodily injury or property damage. Collision and comprehensive cover physical damage to your vehicles. Additionally, you can obtain Uninsured/Underinsured Motorist coverage to protect you if you are injured in an accident caused by negligent operation of an uninsured auto, by a hit-and-run motorist, or by someone with less liability coverage than you.

In addition to “standard” coverage, Business Auto provides these valuable extras:

  • Transportation expenses in the event your business-owned vehicle is stolen
  • Glass repair
  • Coverage for permanently installed sound and reproducing equipment, including radios, tape decks, CD players, and cellular phones
  • Broadened coverage to cover expenses such as returning an insured automobile that has been stolen and recovered

 

The Foley Insurance Group services Springfield, Agawam, Holyoke, Chicopee, Westfield, West Springfield and many other communities in Western Mass and the greater Pioneer Valley.