Business and Commercial Insurance
Below are some general descriptions of the major categories of business and commercial insurance.
Unfortunately, the chances of your business being sued have dramatically increased in the last decade. General Liability insurance can help prevent a legal suit from turning into a financial disaster if your business is ever sued or held legally responsible for some injury or damage.
Personal umbrella liability policies, generally, exclude business-related liability. Make sure you have sufficient business general liability and business auto liability coverage to avoid a major financial loss.
Business or commercial property insurance reduces your financial risk if you have a loss related to your business building, property,or equipment. Our agent can help you determine what type of coverage your business needs.
This is property insurance to cover equipment that is often moved from place to place. A form of inland marine insurance.
Workers compensation insurance helps control your business financial risks when employees are injured on the job.
Louisiana requires that employers carry some form of Workers Compensation Insurance to provide employees injured on the job with fixed monetary awards.
Workers compensation insurance must be purchased separately from any other business insurance policies.
As a business owner, you need the same kinds of insurance coverage for your business auto as you do for personal auto. This includes liability, collision and comprehensive, medical payments (personal injury protection) and coverage for uninsured motorists. Many business people use the same auto for business and pleasure. If the vehicle is owned by the business, the name of the business will be on the policy as the "principal insured" rather than your name. This avoids problems in the event that you file a claim or a claim is filed against you.
Whether you need a business auto insurance policy depends on the use of the vehicle. Our agent will ask details about how the auto is used in your business, who drives it, and if any employees ever drive -- or are likely to ever drive -- their own autos for your business. While the major types of coverage are the same, a business auto policy differs from a personal auto policy in many technical respects.
Electronic Data Processing (EDP)
Electronic data processing (EDP) insurance covers damage to computers, media and data. This coverage is important if your business depends on computers to carry out its day-to-day operations. It fills many of the gaps that exist in standard commercial property policies with regard to electronic equipment.