As a business owner, you understand the importance of protecting your business from the risks
you face in your daily operations. For most businesses, liability insurance is vital so that their
business remains in business. For those companies that ignore the warning signs – such as unsafe
workplaces, employee theft, or even lapses in security — loss of their business assets is a very
real possibility. Paying for the losses associated with a liability risk can prove tragic to a
business. Relying on a local, trusted insurance agency is critical. Connell Insurance Agency
(CIA) can get you started on the path to complete insurance coverage.
Commercial lines of insurance are subsets of an industry category known as casualty and
property insurance. Types of insurance that cover people are called personal lines of insurance.
Commercial lines, especially property and casualty, cover risk of loss to tangible objects or
liability that arise from negligence or an accident. Commercial lines cover businesses, not
individuals. In order to protect your business, there are five key insurance coverages your
business should secure immediately.
Commercial General Liability
Commercial general liability (CGL) is a type of insurance policy that provides coverage to a
business for bodily injury, personal injury and property damage caused by the business &;
operations, products, or injury that occurs on the business; premises. It protects your business
from another person or business’s claims of bodily injury, associated medical costs, and damage
to property. Regardless of the type of business you are, there is always the possibility you can
be sued, so this protection is of the utmost importance.
Commercial Multiple Peril
Events such as crime, employee theft, injury, machinery failure, and vehicle accidents are
covered under commercial multiple peril. This type of general liability insurance can vary by the
issuing company and jurisdiction. To learn more about this valuable insurance coverage, contact
our experts for more specific information.
Commercial Auto Insurance
For business owners who maintain, own, or lease vehicles, commercial auto insurance is not only
important, but vital to maintaining coverage for all vehicles and drivers, ultimately protecting the
business itself. Whether a business has a fleet of vehicles or just one company car, your business
should be covered with a commercial auto insurance policy. Commercial auto insurance provides
broad coverage for accidents, damages, and liability. One tiny accident can result in significant
injuries and property damage that can endanger your entire business.
Covering workers while on the job ensures that if a worker is injured and needs medical care or
rehabilitation services, the cost is covered under workers’ compensation insurance. Chances are,
your business is required to maintain workers’ compensation coverage by state laws.
Flood and Fire
Fire is an often real and scary scenario for many businesses. According to the U.S. Fire
Administration, in 2017 alone, there were over 1.3 million fires resulting in $23 billion in losses.
Those without fire insurance were left with nothing but ashes. Fire insurance covers a wide range
of losses, including smoke damage and property damage, for businesses suffering from fire-
related injuries and occurrences.
Although often overlooked, floods happen to people not near a lake, river, or the ocean. Flood
insurance is often required for people in flood-prone areas, but even a clogged drain can cause a
street to flood, resulting in thousands of dollars of damage to buildings and inventory. A business
affected by flooding can lose equipment, inventory, or loss of a physical building, and would
have to replace all of the losses out of pocket if they do not have a flood insurance policy in
place. It is important to note that regular property insurance normally does not cover flooding.
Our expert agents at Connell Insurance Agency (CIA) care about getting you the right coverage
for the right price. We are a trusted business partner, helping hundreds of companies obtain the
best insurance protection at competitive industry rates.
CIA has been serving the insurance needs of South New Jersey and Philadelphia for over 30
years. We want to take the time to get to know your business and its needs so we can find the
perfect coverage at an affordable price. Contact us or call (856) 858-5510 today for a free quote.