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To find out more about specific types of coverage click on any of the coverages listed in the menu on the left or on the coverages listed below. |
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General Liability Insurance protects your business from claims arising from alleged bodily injury, personal injury or property damage liability. General Liability coverage also includes protection for services you render or products that you sell. |
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Brochure 1
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Brochure 2
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Brochure 3
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Brochure 4
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| Equipment coverage can be written on a list of equipment with separate limits applying to each piece or on a “blanket” basis. Blanket forms insure all equipment under a single amount of insurance. |
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Brochure 1
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Brochure 2
(.pdf 0.0 KB) |
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Brochure 3
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Brochure 4
(.pdf 0.0 KB) |
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| Builders Risk insurance provides coverage for your interest as well as the interests of others in specified structures while under construction. Builders Risk policies are typically written on a one-year basis and renewable for another year. Once the structure becomes occupied or receives it’s C.O. the Builders Risk coverage ceases whether it has been reported to your agent or not. Builders Risk premiums are typically determined by the amount of the contract on the structure. |
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State law requires that every employer provide Workers Compensation insurance for their employees. This insurance provides coverage for accidents or disease arising from employment as prescribed by state laws. Benefits can include lost wages, medical expenses, and permanent disfigurement /or disability payments. In order to determine if you are required by law to carry workers compensation insurance, you must first determine your business entity (sole proprietorship, partnership, Limited Liability Company, corporation, agricultural operation, business with radiation, estate, trust, etc). If you are a sole proprietorship, partnership, LLC, estate or trust, you are required by law to carry coverage once you have three employees who are regularly employed, in addition to the sole proprietor, partners, formulators of the LLC, executor of the estate, or bearer of the trust. It does not matter if employees are full time, part time, regular, seasonal or family members. If you are incorporated, including all forms of corporations and those which have non-profit status, you are required by law to carry coverage once you have a total of three people in the corporation. Everyone is included in the headcount, including corporate officers and employees. You are not required to carry workers compensation until you have reached these limits but you are still liable for your employees.
Workers Compensation premiums are based on the amount of payroll for each type of job. Workers Compensation insurance is written with an auditable premium which means that you will be required to provide either your records or an accounting of your records once your policy expires. The premium you pay for Workers Compensation is an estimated projection of what you expect to pay your employees during the coming year. Once your policy has expired, the audit is necessary to obtain actual payroll figures. Once the actual payroll figures are obtained, you will either be required to pay an additional premium if you estimated your payroll too low or you will receive a refund if your estimated payroll was too high. Workers Compensation insurance in North Carolina is regulated by the State of North Carolina. Failure to comply with the end of term audit will prevent you from obtaining Workers Compensation coverage until you have complied with the prior term audit.
Workers Compensation law varies from state to state. It is imperative that you notify your agent of any and all states in which you plan to work. Should you take a job out of state, please be sure to call your agent to confirm your workers compensation insurance is valid for the state in which you are working. |
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| An Umbrella policy provides protection against catastrophic liability claims. The Umbrella provides a higher limit of coverage that is excess over scheduled underlying policies. An Umbrella policy can be used in one of three ways: (1) to provide additional limits of protection over the coverage listed in your underlying policies, (2) to act as primary coverage if your underlying limits are exhausted, and (3) to provide coverage for some risks, subject to a retention (deductible), when your primary coverage does not. It’s easy to view this as an umbrella over the regular policies you need to have, providing coverage once the limits of your insurance have been met or covering gaps in coverage. |
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| Business Automobile coverage can provide a combination of liability protection and physical damage coverage for loss due to damage to vehicles owned, maintained, or used by your business. Additional coverages such as medical payments and uninsured motorist protection can be purchased to customize the policy to fit your business. Liability coverage is used to protect against claims alleged for bodily injury and property damage arising from the ownership, maintenance or use of any covered auto. Physical Damage coverage is used to protect the covered vehicle itself. It pays for physical damage loss that results from a covered peril. |
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| Personal Property coverage protects personal property owned by your firm and used in your operations. Furniture and fixtures, equipment and machinery, raw stock, and finished goods all fall within this category. Personal property of others while located in your covered building or within 100 feet of the premises can also be insured. Contents located off premises are not covered and must be insured by alternate methods. Personal Property coverage can be written on a “replacement cost” basis (which means your property will not be depreciated in the event of loss) or “actual cost value” (which means your property will be depreciated in the event of loss). Often, there is a co-insurance clause within the property coverage which states the amount you insure your personal property for must be within a certain percentage (usually 80% to 90%) of the property’s value or the insurance company will subtract the same percentage you are “off” from the payout in the event of a total loss. |
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| Flood insurance is used to provide protection against loss due to water damage arising from flooding, surface water, tides, tidal waves, and the overflow of any body of water. This type of coverage is almost always restricted to the peril of flooding and does not normally cover several other types of related water damage exposures, the most notable of these being back up of sewer or drains, or below ground water that seeps or leaks through foundations. Most carriers do not cover mudslide or mudflow as an insurable flood peril. Typically, most flood policies are written on “actual cost valuation” (which means your property will be depreciated. Ask for a quote on a “replacement cost” coverage if you do not want your property to be depreciated in the event of a loss. |
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| Many times firms such as yours may require a variety of bonds in conjunction with your business operations. These bonds may be required by either public or private entities to fulfill any number of different guarantees or obligations. It is common for these bonding obligations to be as important to you as your insurance program. Please allow us to work with you on all of your bonding requirements. |
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| You may find yourself involved in special events not normally contemplated in standard insurance policies. An alternative to negotiating coverage for such a situation with your regular company (which may jeopardize your standard insurance coverage) is to write a separate special events policy for the liability exposures of such an event. Feel free to call our commercial lines department to discuss any special events you plan to see if you should contemplate Special Events Insurance. |
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| Although Employee Benefits are not normally thought of as an insurable asset, employee benefits can be an extremely important exposure for your business. At minimum, we recommend that a general review be conducted of your health, life and disability exposures to determine if adequate coverage is being provided for you and your employees. If you do not have employee health, life and disability insurances, please call the agency and ask to speak with our life and health department to set up a consultation or you may also choose to use the Health link on the home page. |
