Commercial Insurance



Businesses today have an incalculably greater capacity for work than was true just a few years ago, and thus, have far greater exposure to potential loss. When it comes to protecting your business investment, you need an insurance program that meets your needs. Providing specific coverages or a full range of protection and service, Burton Insurance Services will be there for you.

We use our experience and knowledge to attend to the needs of the small and medium sized business when it is time to set up the proper protection and, in case of the unfortunate event, when we are needed to help settle any losses.



Business Owner's Policy

Business owner's policies (BOPs) are insurance packages that provide both property and liability coverage at one affordable premium. These packaged policies are available to most small and medium-size companies and can be a good alternative to purchasing separate policies for liability and property insurance.



Auto

Commercial Auto Insurance helps protect your business from the risk of loss and liability you could face from using company vehicles. That risk can become your personal liability without proper commercial auto insurance.

Just as you insure you personal vehicle, commercial vehicles require commercial auto insurance to protect against injury, loss or damage to vehicles or cargo, plus damage to other property. Commercial auto insurance should include business-use autos, pickups, vans, trucks and non-owned and rented vehicles.



General Liability

A form of insurance designed to protect owners and operators of businesses from a wide variety of liability exposures. These exposures could include liability arising out of accidents resulting from the premises or the operations of an insured, products sold by the insured, operations completed by the insured, and contractual liability.

Generally, $2 million to $3 million of liability insurance should be plenty. The good news is that liability insurance isn't priced on a dollar-for-dollar basis, so twice the coverage won't be twice the price. The price you'll have to pay for comprehensive general liability insurance depends on the size of your business (measured either by square footage or by payroll) and the specific risks involved.



Umbrella Coverage

Every small business is vulnerable to a major catastrophe or a large lawsuit. Some of these losses could exceed your primary insurance coverage, unless you protect your business with umbrella insurance. Umbrella insurance extends your coverage beyond the limits of your basic business insurance. It's not expensive and in certain instances, it could keep your business from having to close its doors.

Because the umbrella policy goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage. Most insurers will want you to have about $250,000 of liability insurance on your business auto policy and $300,000 of liability insurance on your business owner's property policy before selling you an umbrella liability policy for additional coverage. Umbrellas are usually in increments of $1 million.



Contents, Equipment & Inventory

Property insurance (for small businesses as well as large ones) protects business property and inventory (assets) against physical loss or damage by theft, accident or other means- even if that property is removed from your place of business when it is lost or damaged.
Buildings: Coverage would be required here if you own the building your business occupies. In the event you lease premises, your landlord should provide this coverage. Coverage, in most cases, would best be provided on an “All Risks” basis.

Business personal property includes your furniture and equipment. You'll want to include the improvements or additions you might make to leased premises.
In the most basic policies, property insurance for small business contents covers furniture, fixtures, inventory, office equipment and other supplies stored at your facility or off-premises. You may insure those items for replacement cost (which means you'll receive a settlement based on how much it will cost to replace the items at today's market prices) or for actual cash value (ACV), which pays only for the depreciated value of the property.



Business Interruption

Natural disasters such as earthquakes, fires, floods, and severe weather can cause a business to close temporarily. But just because your business cannot make deliveries, take orders, or perform its other basic functions does not mean that the business will not have to pay taxes, salaries, and other expenses. Business interruption insurance can help a business avoid disaster at such times.

Business Interruption Insurance is commercial coverage that reimburses a business owner for lost profits and continuing fixed expenses during the time that a business must stay closed because of a covered peril, such as a fire or other insured hazard. You shouldn't assume your current policy includes business interruption coverage. Many business owners don't even think about it until such coverage is needed.



Flood

Between hurricanes, tornadoes or just plain bad thunderstorms and heavy rain, summer is flood season. Is your business properly protected in case of a flood? If you don't have a separate flood policy, the answer is very likely no. Most if not all business property policies specifically exclude flooding. To cover yourself, you must purchase a separate policy under a program that is underwritten by the Federal Government through the National Flood Insurance Program.

The sooner you act the better, too. Unlike most insurance policies which become effective immediately, flood insurance does not become effective until 30 days after you purchase it. This is done to prevent someone from purchasing a policy just before a hurricane hits.