COMMERCIAL INSURANCE

Running a business can be risky and often times may lead into allegations from an employee, a potential employee, or former employee regarding harassment, wrongful termination, and discrimination. This sort of topic has been on the forefront of all media and has raised awareness within businesses, employees, and human resources. Something as simple as a job interview with an applicant can turn sour if that applicant feels the interviewer is discriminatory during the interview process. No business wants or expects these types of situations to arise, but if your business is faced with a lawsuit, do you have the coverage in place to protect your business from employee claims? Employment Practices Liability Coverage (EPL)  Assume [...]

If you are a vacation rental owner and think that your current N.C. homeowners or condo insurance policy has you covered, think again! Chances are your vacation rental activities are excluded under your standard N.C. homeowners insurance policy. Before you rent out your home/vacation home to renters, find out what you must know about insuring your VRBO or Airbnb rental. Do Your Homework  If you rent your place out on Airbnb, you may want to do your homework regarding the wording on your homeowners/condo insurance policy to determine whether your insurance company allows vacation rentals under your policy. The wording may be coined as “business activity” and typically this is an exclusion. If you are [...]

Running a business involves juggling many different responsibilities in order to maintain optimal business operations; however, when it comes to protecting your business, do you only factor in price because it may save money on the front end? Protecting your livelihood goes deeper than the initial pay out costs and what may seem to save money in the beginning can lead to financial disaster in the end if you aren’t careful. Price is important, but you need to know why price is not the only factor to consider when purchasing commercial insurance. Other Variables to Consider While price does come into play, there are more factors to consider when you purchase commercial insurance for your [...]

Running your business includes many variables such as advertising, branding, making appointments with vendors and customers, scheduling employees, and promoting strong work ethics among employees; however, not focusing on the type of insurance your business needs to secure its financial foundation and success can be disastrous. Being unaware of the importance of business interruption coverage may mean the difference between the doors being open or closing down. What is Business Interruption Coverage?  This type of coverage is one of the most important coverage options available to you as a business owner and should never be overlooked when insuring your business. It is designed to protect your business from loss of income when a covered peril [...]

As a restaurant owner, there are many obligations and responsibilities associated with your type of business so staying on top of these is imperative to the success of your restaurant. However, sometimes, things go wrong and if you wait until AFTER that happens to worry, you may be faced with a restaurant shut down.  Do you understand the business insurance for your N.C. restaurant? Preparation is Protection  Take a moment to consider this situation at your restaurant. What if your business experiences a power outage that lasts for days, resulting in spoilage of your entire food inventory?  Without food, you can’t service customers and now you are faced with a restaurant shut down until the [...]

As a contractor, you accept jobs daily and your goal is to not only satisfy your customer(s), but to also build your business and reputation. However, with any type of contractor work, you can count on mistakes happening and customers’ complaints developing. Are you prepared to handle the potential situation of a simple customer complaint turning into a very costly legal dispute? If not, you need to find out more about Contractors Errors and Omissions Coverage. What is E & O Coverage?  Every contractor needs to be aware that the typical N.C. General Liability commercial policy excludes these kinds of business conflicts, which can turn into a financial nightmare costing thousands of dollars if you [...]

If you are own a dental office/building, you know there are many aspects of it that need to be adequately safeguarded from the numerous risks that present themselves. Whether it’s your office building, high tech dental machinery, patients’ medical records, or computers, you need to have the right type of business insurance for your dental office, so you will have the insurance protection you need to ensure the peace of mind you deserve. Imagine… Suppose you have a new patient that needs a filling and the numbing procedure is administered. This particular patient has a negative reaction and breaks out into a rash, experiences difficulty in breathing, vomiting, and seizures. After undergoing medical treatment, your [...]

As a business owner, you value your business investment, as well as your employees. After all, your employees are the backbone of your business and shouldn’t they be protected? In North Carolina, if an employee gets injured or sick as a result of work related activities, then that employee is entitled to workers’ compensation benefits, but do you know the N.C. Workers’ Compensation requirements? Who Qualifies as an Employee? The Workers’ Compensation Act of N.C. states that if your business employs 3 or more people then you must carry workers’ compensation insurance for your employees, but which people qualify as an “employee?” Below are some of the definitions of “employee”, but not limited to: Each [...]

Today, more and more people are operating businesses out of their own homes and while that sounds modern and convenient, it won’t be if an unexpected accident happens and you lack the right type of insurance needed. Many people don’t realize that their standard N.C. homeowners insurance policy provides limited coverage for their home-based business, so you need to find out whether you need insurance for your home-based business. Accidents Happen Imagine that you run a personal training business out of your home and one of your long-standing clients is at your home working out and injures his back performing an exercise. With no history of back issues, your client is now claiming he got [...]