Each business has its own unique risks and TGI can help you navigate the world of business insurance. TGI Insurance has agents that specialize in small and medium business insurance. With a free consultation from TGI Insurance, you can receive guidance on what types of risks you can foresee and get expert advice on how to mitigate them.
General Liability Insurance
Commercial General Liability Insurance (CGL) is the most common form of business insurance. CGL insurance is a comprehensive liability policy custom-suited to your industry that covers a wide variety of business related liability claims. These claims can include liability resulting from faulty work, advertising injury, slip and fall claims, injury to customers, defective products, and more.
Professional Liability Insurance, E&O Insurance
Businesses engaged in offering professional services of highly skilled work may need professional liability or Errors and Omissions (E&O) insurance in addition to general liability insurance. For example, a realtor or insurance agent can purchase E&O insurance to cover claims related to a mistake or omission that may have been made. A mold testing company may need professional liability to protect themselves against faulty testing claims.
Pollution Liability, Mold Liability, Environmental Liability
General liability insurance excludes claims for pollution, mold, etc... Some businesses may have a lot of exposure to these types of claims. For example, TGI offers a special pollution/mold liability coverage just for water extraction, fire restoration, and mold remediation companies. If one of these businesses is engaged in a cleanup and mold is later determined to be present, they may have a lawsuit on their hands. Often pollution claims can be worth hundreds of thousands of dollars.
Workers Compensation, Employers Liability
Most states require employers to pay for injuries to employees if hurt on the job. Workers compensation insurance pays for medical bills, disabilities and lost wages in the event of a workplace injury. Employers liability is part of a workers compensation policy and will cover employers if they are sued by an employee who was hurt on the job.
Commercial Umbrella Insurance
A commercial umbrella backs up other "underlying policies", such as general liability, commercial auto insurance, or professional liability, on an excess basis. It generally carries the same terms and conditions that you would find on its underlying policies. It also acts as a primary liability policy for liability circumstances that don't fit in to the underlying insurance policies. A commercial umbrella can often be used to extend coverage to $2,000,000 or even $4,000,000.
Inland Marine / Contractors Equipment
The term "Inland Marine" insurance can sometimes be confusing. Inland marine insurance refers to property insurance used to cover business property such as tools and equipment. Despite its name, it does not have anything to do with water or marine insurance. An example of an inland marine policy would be a carpet cleaning company insuring its carpet cleaning machine or a warehouse insuring a forklift. Just about any type of tool or equipment can be covered on an inland marine policy.
Other Miscellaneous Business Insurance
TGI offers a broad variety of commercial insurance products to fit the needs of just about any business. Please contact us today for a free consultation.