Business insurance

A business auto policy protects your business's bottom line by providing more liability coverage than the standard auto policy. Coverage is available for vehicles that are owned, leased, hired, rented or borrowed. Coverage may include:

• Bodily injury and property damage liability
• Collision damage
• Comprehensive physical damage
• Uninsured/underinsured motorist
• Medical expenses
• Autos rented by employees
• Electronic equipment such as a GPS or DVD player
• Glass repair
• Lease and loan gap coverage

Business Property and General Liability Insurance
Property damage, lawsuits and injuries can mean financial ruin for a business without adequate insurance coverage. For that reason, business owners need insurance to protect their business and their assets. A Business Owner’s Policy (BOP) includes three types of insurance:

Property Insurance: Property insurance covers damage to buildings and contents owned by the company. This includes buildings, equipment, computers and inventory. A commercial insurance agent will help tailor a policy to fit your needs. Coverage may include:

• Building and business personal property
• Computers, software and data
• Computer fraud protection
• Accounts receivable to reconstruct lost or damaged records
• Property in transit
• Tenant obligations for damage to building
• Income loss due to interrupted utility services

General Liability Insurance: Lawsuits are a reality for many businesses, which is why general liability protection is an essential part of financial protection from lawsuits and claims. Liability insurance covers the company’s legal responsibilities for harm caused to others. Coverage may include:

• Bodily injury and property damage liability if your business is sued for injury or property damage.
• Personal and advertising liability for malicious prosecution, libel, slander, wrongful eviction, false arrest, discrimination, privacy invasion or copyright infringement.
• Medical expenses for injuries on business property.
• Damage to rented business premises if damage is due to fire, lightening or explosion.
• Employment practices liability for sexual harassment, wrongful termination or discrimination lawsuits.

Business interruption insurance: This covers the loss of income if a business is temporarily forced to shut down because of a catastrophe, such as a hurricane or fire. It can also include the extra expense of operating out of a temporary location.

Employers are legally obligated to take reasonable care to assure that their workplace is safe. Nevertheless, accidents happen. When they do, workers compensation insurance provides coverage.

Workers' compensation coverage provides benefits to your employees for work-related injuries or illnesses. Benefits can pay for medical care, lost wages, disability benefits and even death benefits. It also provides critical liability protection from lawsuits against employees or their family members due to work-related injuries or illness.

Workers' Compensation Overview:

• Only workers' compensation will cover medical expenses for on-the-job injuries or illness; medical insurance will not.
• Rates are based on three factors: Industry, employees' wages and your workers' compensation track record when compared to other businesses in the same industry.
• Workers' compensation laws vary by state, but AAA Mid-Atlantic’s Commercial Insurance agents can provide details on specific laws in your state. Contact an agent to learn more.
• Report claims right away to help employees get the care they need and to prevent injuries or illnesses from escalating.