business / commercial insurance

Commercial automobile insurance provides protection for businesses from property damage, bodily injury and other legal liability associated with the operation of vehicles that the company owns or that are used primarily in connection with the business and business activities. 

Most of the coverages under a commercial automobile policy are very similar to the coverages on a personal automobile policy. However, commercial automobile policy differs in several technical aspects. For example, they have much higher liability limits that are available, additionally, they have provisions for coverage for non-owned or hired vehicles. Further, businesses may elect insurance to cover their liability for employees’ use of automobiles not owned by the business, for example in the situation where an employee uses their own vehicle to deliver pizzas. 

When securing a commercial automobile policy, you must also consider the type of business you have, as specific coverages are available for towing operations, public transport operations such as taxi and limousine services, delivery and courier operations, etc. 

We will help you find the right carrier, the right coverages for the best price! 

A Businessowners Policy (BOP) is a policy offering protection from all major property and liability risks in a single bundled coverage form. These policies are available for eligible small businesses that generally face the same exposure to and degree of risk. BOPs are typically written on special coverage form, providing comprehensive property and liability coverage. Further, BOPs have unique features that make them especially advantageous for businesses that qualify.

Types of coverages

• Property insurance provides protection for not just the building, but also for the contents, for items like office furniture, machinery, computers, inventory and many more items which are imperative for the operation of the business. 
• Business interruption insurance, also known as business income insurance, covers the loss of income when a business is forced to shut down after a covered loss. This coverage includes loss of revenue, as well as extra expenses if the business has to operate out of a temporary location. 
• Liability insurance protects the business from their legal responsibility for harm it may have caused to others. Individuals may allege that your business caused them harm because of a defective product, for example, or a mistake in service, or disregarding a person’s property. They many claim that your business created an environment which was hazardous. Liability coverage will pay, up to the policy limits, for damages where the business was found liable. Additionally, this coverage allows for payment of attorneys’ fees and other legal expenses in defending the business. 

Businessowners Policies do NOT cover auto insurance, worker’s compensation, health, disability or professional liability.  A separate policy will need to be obtained to cover these exposures.

In today’s world, your business can be sued at any time, for anything. Customers may claim that your business directly or indirectly caused them harm. They may allege this happened due to an error in service, or maybe because of a defective product, or as a result of disregarding another person’s property. Or they may allege that your business created a hazardous environment. 

A commercial general liability insurance policy will protect you and your business for actual or alleged damages. Not only will the policy afford coverage for the sustained damages, but it will also pay for attorney costs in connection with your defense and/or settlement of these allegations. 

Commercial property insurance provides protection to pay to repair or replace property which has been damaged by things like fire, lightening, windstorm, hail, water damage, theft or vandalism. A commercial property policy will afford coverage for not just the building, but also for the contents, for items like office furniture, machinery, computers, inventory and many more items which are imperative for the operation of the business. 

There are many considerations which will be vital to the survival of your business if a loss occurs. For example, do you know which coverage form is best suited for you? Do you need basic, broad or special policy form? Which type of settlement provision will cover you adequately, replacement cost, actual cash value, stated value? Are there any holes in your coverage, such as business income? Do you need coverage for business property away from the business location? 

Running a business is hard enough. Allow TWFG Mir Insurance to be your insurance expert, we will not leave you exposed. At TWFG Mir Insurance, we will help you find the right coverage, the right carrier for the best price! 

As employers we make precautions to provide a safe environment for employees to work, however, accidents can still occur. To protect employers from lawsuits resulting from workplace related accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, workers compensation is protection to be considered. 

Allow one of our commercial insurance specialist to help you decide what type of workers compensation policy you need. 

Commercial umbrella and excess liability policies provide coverage above the business’s underlying liability limits. Although uncommon, catastrophic occurrences can happen, leaving your business exposed to legal liability. A commercial umbrella and excess liability policies are designed to provide protection above your liability limits on polices such as general liability, automobile liability, employment practices liability or directors and officers liability. The main difference between umbrella and excess policies is that umbrella policies cover all underlying liability policies, whereas excess liability policies increase the limits of liability on one particular policy.  

Employment practices liability insurance helps to protect your business from damages associated with legal liability due to violations of an employee’s civil or other legal rights. 

Typically these claims include the following

• Wrongful termination
• Discrimination
• Sexual harassment
• Hostile environment
• Failure to employ or promote
• Wrongful discipline or demotion
• Defamation
• Privacy violations
• Infliction of emotional distress or mental anguish
• Violation of the Family Medical Leave Act or other such laws

This policy is set up not only to resolve and pay claims for the actual damages or judgements, but EPLI policies offer payment for legal defense costs in connection with an alleged or actual claim. Legal costs in these cases can be substantial even if there is no wrongdoing. 

Allow one of our commercial insurance specialists to add this coverage to your business insurance portfolio at the lowest cost possible!

Professional liability insurance, otherwise known as errors and omissions (E&O) coverage, is protection for your business in the event that a customer is harmed because of advice or service your business provided. Some of the types of businesses who are exposed to such a claim are:

• Accountants
• Architects
• Attorneys
• Dentists 
• Doctors
• Engineers
• Graphic designers
• Information technology (IT) consultants
• Insurance professionals
• Investment advisors
• Management consultants
• Real estate agents and brokers
• Software developers

This list is by no means all inclusive. If your business is in the business of offering advice or providing a service, please talk with one of our TWFG Mir Insurance specialists regarding professional liability coverage!

If your business handles customers’ vehicles, it is highly likely you will need garage liability insurance in addition to your general liability policy. Some of these businesses include auto sales dealerships, repair shops, body shops, gas and service stations, tow truck companies. Typically, general liability insurance does not cover damage to vehicles not belonging to the insured. Garage liability insurance will fill in the gaps where general liability insurance may leave you exposed.

If you are an owner of one of these types of businesses, there is one more additional, but very necessary, coverage worth considering. Ask one of our TWFG Mir Insurance  agents for their advice. 

If you own a business which deals with customers’ vehicles, such auto sales dealerships, repair shops, body shops, gas and service stations, tow truck companies, in addition to a garage liability insurance policy you will want to consider adding an endorsement for garagekeepers coverage or garagekeepers liability coverage. This coverage will protect your business for claims arising out of alleged or actual damages to customers’ vehicles while the customer’s vehicle was left in your care for service or repair. 

There are several options when selecting garagekeepers insurance. One of these selections will be with regard to how your insurance coverage will respond in the event of a claim.  Will it be…

• Legal Liability
• Direct Primary
• Direct Excess

Additionally there are limits to consider such as per vehicle limit and per occurrence limit, as well as deductible options. 

Ask our expert agent which coverage is best suited for your business!

Inland marine insurance will provide protection for your property while being transported away from your business. If you have tools or equipment which is taken off your premises or coverage location, inland marine coverage will provide protection should these tools or equipment be damaged or stolen. 

Do not allow your business to shut down, because your tools of the trade are stolen or damaged. Talk with one of our commercial specialists to make sure you have the right coverage!

Small businesses generally face the same exposure and degree of risk. For these types of companies, a Businessowners Policy (BOP) may offer a bundled coverage solution, providing protection for property and liability coverage without specialized risks. However, if your business is growing in size, this usually means it is changing in complexity as well, and therefore, you will be facing specialized risks based on the nature of your business. When this occurs, you may want to specialize your insurance portfolio in order to customize your policies to fit your needs, based on the specific risks you face. You may want to consider a commercial package policy.

Customized solutions under one commercial insurance portfolio

Commercial package policy (CPP) enables you to bundle various types of coverage in one insurance portfolio for your business. These commercial package policies are available for a wide range of businesses, allowing coverage customization to the specific needs of your business.  Some of the coverages available are as follows: 

• Property Insurance
• General Liability Insurance
• Business Income Insurance
• Business Vehicle (or Fleet) Insurance
• Business Crime Insurance
• Commercial Umbrella Liability
• Electronic Data Processing Coverage
• Equipment Breakdown
• Employment Practices Liability
• Inland Marine
• Pollution Liability
• Professional Liability 

It is important to recognize that there are coverages which are NOT added to a commercial package policy. Some of these are worker’s compensation, health, disability, life, or directors and officers liability. It is vital to make sure and speak to an insurance professional who will not leave you exposed. At TWFG Mir Insurance, we will help you find the right coverage, the right carrier for the best price!