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Business Insurance

Introduction:

As a business owner, you’re used to working very hard and taking risks. There are sales to take care of, payrolls to be made, customers to be contacted, problems to be resolved….The last thing that should be bothering you is business insurance, correct? Unfortunately in the present society obsessed with litigation, this is sadly not the case. Even small errors & mistakes could prove to be very expensive for your business and your peace of mind if you are not adequately protected. We at All Solutions Insurance, a small business ourselves, fully understand your needs and are dedicated to finding the right insurance for your business. At ASI, our highly specialized and experienced staff will provide top class services & lower rates that you deserve, so you are assured of protection and peace of mind in case of any unforeseen situation.

At ASI Agency, we have the skill, knowledge and market selection to ensure our ability to deliver the appropriate products in an effective and efficient manner.

At a minimum, your business should have:

  • Business Property Insurance that can protect your business by funding repair or replacement of damaged physical assets when disasters such as fire, windstorms, hail or vandalism strike.
  • Business Liability Insurance that can protect your business against financial losses resulting from claims of injury or property damage caused by you or your employees and your products or services.
  • Workers’ Compensation Insurance that can satisfy your employees’ medical needs in the event of an accident or disease and make a quick return to work possible, while removing lawsuit potential by current or former employees.
  • Business Auto Insurance that can get you on the road again quickly after an accident and ensure your business is protected against losses from injuries to other drivers, passengers and pedestrians for which you and your employees are liable.
  • Business Crime Insurance that can provide your business with protection from fraud, theft, forgery or robbery

Additional insurance options your business may need include:

  • Employment Practices Liability Insurance that can cover your business if discrimination, sexual harassment or wrongful termination claims are made by present, former or future employees.
  • Life Insurance for Business Owners that can help you plan for business succession, survive the loss of a key employee or partner and retain/reward your top people.
  • Retirement and Benefits for Business Owners that can secure your financial future and that of your employees.
  • Umbrella Coverage that can make sure your business is shielded from the effects of potentially ruinous lawsuits with additional liability coverage.
  • Bailee Coverage to protect you and your business if damage is done to customer’s goods, including jewelry and clothing.
  • Transportation and cargo Coverage to cover your company if goods are damaged or lost when being transported by one of your vehicles or common and contract carriers.
  • Spoilage Coverage in the event that perishable goods are spoiled due to a mechanical breakdown or power outage.
  • Non-Owned Auto Coverage if an employee is involved in an auto accident while driving a personal automobile on company business.

If you have any specific business insurance requirements, or have any questions, contact an ASI business insurance expert today for a free rate quote by calling (951) 247-2003 or chat with our expert by clicking here.

Today, Insurance coverage is available for almost every conceivable risk that your business might face and costs and level of coverages of policies vary widely among insurers & underwriters. Depending on the nature of your business, some types of risks may be more significant than the others and would consequently require more protection than the others. This could cause wide fluctuations in your insurance rates. So, the cheapest insurance issued by a fly-by-night insurer may not offer adequate protection to businesses. At ASI, we have been offering well researched and well underwritten business insurance policies since 1994 from among more than 30 reputable insurers. We begin by first understanding your business thoroughly and identifying the sources and magnitudes of risk levels present in your business. Then, we customize a business insurance policy, which takes into account your risk levels and optimizes coverage for your business. We then shop from among more than 30 reputable insurers with whom we have a unique tie-up since 1994 so that you receive the lowest prices and optimal coverage levels. So, contact an ASI expert today for a free rate quote at (951) 247-2003 or chat with our expert by clicking here.

Property Insurance:

Property insurance insures against loss or damage to the location of the business and its contents. It can also insure the property of others in your control when the loss occurs. Property insurance can be for a specific risk. For example, a fire insurance policy insures only against a fire loss to the location. A tornado is not a fire and, therefore, that loss would not be covered. The insured location can be owned, leased or rented. Casualty Insurance

Casualty Insurance:

Some insurers will lump property and casualty insurance together and refer to the coverage as “property and casualty” insurance. In fact, “packaged” policies of property and casualty are often the best purchase a business owner can make. However, to have an understanding of the difference between the coverage, we will discuss this as a separate type of insurance. Casualty insurance insures against loss or damage to the business.

Liability Insurance:

Liability insurance insures against liability legally imposed upon your business because of the negligence of the business or its employees. That is, it protects your business when the business is sued for negligence.

Commercial Auto:

Your personal automobile policy does NOT cover vehicles used by your business. If your business uses vehicles or anything that is required to be titled by your state, then you need a commercial auto policy. Commercial auto coverage insures against property damage to vehicles and damage caused to others by those vehicles.

Workers Compensation:

You will need to insure your employees against on-the-job injuries. Every state is different. But, most states have put into place some form of workers’ compensation system. Workers’ compensation is a system where the employee is not allowed by statute to sue their employer for on-the-job injuries; but, in return, the employer must participate in a system that provides nearly automatic payment to the employee in case of injury for medical bills and damages. There are many options for workers’ compensation coverage. Some states allow an employer to opt-out of the system if the employer is self insured, some run the system through private insurers while others use state agencies. Finally, some states, by virtue of case law or statute, require additional insurance above workers’ compensation such as “stop-gap” coverage or “scaffolding liability” as just two examples.

Health Insurance:

To be competitive, most businesses need to offer their workers health insurance. This insurance offers a health coverage benefit to your employees (and you).

Life and Disability:

Life and disability insurance protects the business against the death or disability of key employees. For example, one partner carries a life insurance policy naming the partnership as a beneficiary. If that partner dies, and the business has planned properly, the proceeds of the policy can be used by the business to buy out the share of the decedent’s partnership interest from the estate.

Other Insurance:

Business interruption insurance insures against loss or damage to the cash flow and profit of a business caused by the business being unable to operate because of interruption. The easiest example is to think about a critical piece of machinery being struck by lightning. The repairs to the machine may be covered by other coverage such as property or casualty insurance. But, if you can’t make widgets for three months, then there is no replacement of that income without this coverage.

This could cause wide fluctuations in your insurance rates. So, the cheapest insurance issued by a fly-by-night insurer may not offer adequate protection to businesses. At ASI, we have been offering well researched and well underwritten business insurance policies since 1994 from among more than 30 reputable insurers. We begin by first understanding your business thoroughly and identifying the sources and magnitudes of risk levels present in your business. Then, we customize a business insurance policy, which takes into account your risk levels and optimizes coverage for your business. We then shop from among more than 30 reputable insurers with whom we have a unique tie-up since 1994 so that you receive the lowest prices and optimal coverage levels.

General Liability:

Business owners purchase general liability insurance to cover legal hassles due to accident, injuries and claims of negligence. These policies protect against payments as the result of bodily injury, property damage, medical expenses, libel, slander, the cost of defending lawsuits, and settlement bonds or judgments required during an appeal procedure.

Contact an ASI Business Insurance expert today for a free customized business rate quote by calling (951) 247-2003 or
click here to chat with us.

Product Liability:

Companies that manufacture, wholesale, distribute, and retail a product may be liable for its safety. Product liability insurance protects against financial loss as a result of a defect product that causes injury or bodily harm. The amount of insurance you should purchase depends on the products you sell or manufacture. A clothing store would have far less risk than a small appliance store, for example.

Professional Liability:

Business owners providing services should consider having professional liability insurance (also known as errors and omissions insurance). This type of liability coverage protects your business against malpractice, errors, and negligence in provision of services to your customers. Depending on your profession, you may be required by your state government to carry such a policy. For example, physicians are required to purchase malpractice insurance as a condition of practicing in certain states.

Commercial Property:

Property insurance covers everything related to the loss and damage of company property due to a wide-variety of events such as fire, smoke, wind and hail storms, civil disobedience and vandalism. The definition of “property” is broad, and includes lost income, business interruption, buildings, computers, company papers and money.

Property insurance policies come in two basic forms:

(1) all-risk policies covering a wide-range of incidents and perils except those noted in the policy; (2) peril-specific policies that cover losses from only those perils listed in the policy. Examples of peril-specific policies include fire, flood, crime and business interruption insurance. All-risk policies generally cover risks faced by the average small business, while peril-specific policies are usually purchased when there is high risk of peril in a certain area.

Home-based Business:

Contrary to popular belief, homeowners’ insurance policies do not generally cover home-based business losses. Depending on risks to your business, you may add riders to your homeowners’ policy to cover normal business risks such as property damage. However, homeowners’ policies only go so far in covering home-based businesses and you may need to purchase additional policies to cover other risks, such as general and professional liability.

Property:

Property insurance insures against loss or damage to the location of the business and its contents. It can also insure the property of others in your control when the loss occurs. Property insurance can be for a specific risk. For example, a fire insurance policy insures only against a fire loss to the location. A tornado is not a fire and, therefore, that loss would not be covered. The insured location can be owned, leased or rented.

Umbrella Liability:

A Commercial Umbrella (also referred to as an “excess liability policy”) provides catastrophic coverage for large liability claims which exceed your underlying liability insurance – or, in some cases, to provide an effective replacement for underlying liability policies which become reduced or exhausted by loss. In 2002, 1.5 million lawsuits were filed in California [Source: 2003 Court Statistics Report by the Judicial Council of California] It seems that nearly any one who is injured now seeks a “responsible party” (or, if not responsible, at least a deep pocket) for the potential of a high-dollar settlement.

Homeowners’ association (albeit non-profit) are not excused either. The courts see homeowners associations as corporations with millions of dollars of assets, and have held the Association culpable for injuries and property damage related to maintenance of the common area. For years, Boards of Directors of homeowners associations have been strongly advised to purchase additional liability protection. Because of the broad coverage and relatively low cost, this additional liability coverage is often not purchased on the underlying general liability policy or Directors & Officers Liability coverage, but rather in the form of an “excess” policy, called a commercial umbrella

While umbrella can be written in increments of $1,000,000, $2,000,000, $3,000,000, $5,000,000, $10,000,000, $15,000,000, $25,000,000 (up to $250,000,000), minimum limits of $5,000,000 are recommended.

Business Auto Insurance:

Vehicles put your employees in front of existing and prospective customers and get your products to where they need to go. But unlike the oversight and insight you have on your business operations, road conditions, weather and other drivers are out of your control. Any bodily injury – including injury sustained by other drivers, passengers and pedestrians – for which you are responsible, or damage caused to other vehicles or property, could put your business in financial jeopardy.

Your personal automobile policy does NOT cover vehicles used by your business. If your business uses vehicles or anything that is required to be titled by your state, then you need a commercial auto policy. Commercial auto coverage insures against property damage to vehicles and damage caused to others by those vehicles. At ASI, we offer many Business Auto Insurance options for the vehicles you own, lease or rent for business use.

Whether you manage just a few cars or a full truck fleet, these are just a few of the available Business Auto Insurance options to help ensure you and your business are fully safeguarded:

  • Bodily Injury Liability coverage for other driver’s and passengers’ injuries or death for which you are responsible.
  • Property Damage Liability coverage for damages to someone else’s property for which you are responsible.
  • Comprehensive Coverage for your vehicle in case of losses resulting from an event other than an accident, such as theft or a tree branch falling on your vehicle.
  • Collision Coverage for your vehicle when your car hits, or is hit by, another vehicle.
  • Uninsured/Underinsured Motorist Coverage for your injuries, damages or death caused by an at-fault driver without insurance or without enough insurance to cover all costs.
  • Medical Payments Coverage for care expenses incurred by you and passengers in your vehicle injured in an accident.

Crime:

With the ever worsening crime levels, exacerbated by reductions in Police and Security budgets, it is imperative to insure your business against theft, pilferage, vandalism, etc. Depending on factors like – the nature of your business, location of business etc, rates could vary widely to protect your business against crime. At ASI, we are committed to providing you lowest rates and best customer services to protect your valuable assets against crime.

Talk to an ASI Business Insurance expert today for a free customized rate quote by calling (951) 247-2003 or click here to chat with us.

Boiler and Machinery :

At ASI, we understand that not all assets are equally valuable to your business. Depending on the nature and location of your business, some assets may be far more valuable than others.

At ASI, we have been offering well researched and well underwritten business insurance policies since 1994 from among more than 30 reputable insurers. We begin by first understanding your business thoroughly and identifying the sources and magnitudes of risk levels present in your business and the relative value of your assets. Then, we customize a business insurance policy, which takes into account your risk levels and optimizes coverage for your assets & business. We then shop from among more than 30 reputable insurers with whom we have a unique tie-up since 1994 so that you receive the lowest prices and optimal coverage levels.

Employment Practices:

You put in time, efforts and care to ensure a safe, secure work environment where your employees can perform to the best of their ability while helping your business grow. But even in the most ideal circumstances, the reality is that accidents and illness still happen. A slip and fall at a restaurant resulting in broken bones, an equipment malfunction causing injury—it could be any number of things.

At ASI, our goal is to ensure that your employees’ medical needs are quickly addressed so that they can return to work as soon as possible in case of an unexpected injury or illness with minimal impact to your business. Talk to our Business Insurance expert today for a free customized multi-coverage solution including Workers’ Compensation Insurance that meets the specific needs of your business.

Workers Compensation:

Workers’ compensation insurance provides medical care and other benefits to employees who are injured while on the job. Workers’ compensation is a “no-fault” system. Employees who are legitimately injured as a result of their work receive benefits as set by law, regardless of who is at fault. Workers’ compensation covers three categories of injuries or illnesses:
Injuries or illnesses that result from a specific work-related accident
Injuries or illnesses that occur over a period of time that are directly related to employment (e.g. cumulative trauma)
Occupational diseases (e.g. exposure to toxic substances used in the workplace)
Under employers’ liability, the policy may provide defense and indemnification to a policyholder for a civil lawsuit (outside the jurisdiction of workers’ compensation) alleging damages for an employee’s work-related injury. Workers’ compensation laws and requirements vary by state, but generally any business that has employees must have it. In many states, it is common for the following people to be exempt from coverage:

Business owners
Unpaid volunteers

At ASI, our goal is to ensure that your employees’ medical needs are quickly addressed so that they can return to work as soon as possible in case of an unexpected injury or illness with minimal impact to your business. Talk to our Business Insurance expert today for a free customized Workers’ Compensation Insurance plan that meets the specific needs of your business. Contact an ASI Business Insurance expert today for a free customized business rate quote by calling (951) 247-2003 or click here to chat with us.

Group Benefits:

At ASI, we understand the challenges your company faces—and has what it takes to help you provide the right mix of employee benefits, at the right cost.

We firmly believe the best possible program design can only be achieved when your company establishes a clear set of employee benefit goals. As our satisfied clients have attested, our Group Benefit plan uniquely tailored to your organization can enable you to better satisfy your employees’ diverse benefits needs, while controlling overall benefit costs.

While customizing a Group Benefit for your organization, ASI‘s highly knowledgeable and experienced staff evaluate the best possible Group Benefit structure at the right price level by closely studying the following factors:

The Right Mix: When designing employee benefit plans, finding the right mix for your company’s benefit plan rests on three important principles:
Benefits Design customized to meet your company’s specific goals
Benefits Communication to ensure your employees understand their benefit options so they make the right choices
Benefits Administration to give your company affordable, high-quality administration and support services
This unique combination of customized benefits design, communication and administration helps you form a partnership with your employees.

The Right Cost: Through our partnerships, ASI offers the perfect balance of benefits expertise at the right cost with the flexibility to customize a program to fit your company’s needs. This combination of services delivers substantial cost savings with the highest level of employee appreciation.

Directors and Officers Liability:

In a common interest development, leaders are chosen to help facilitate and execute all Association business as well as enforce all rules and regulations. In most common interest developments the Association elects the Board of Directors on a yearly basis. Properly run, this Board improves the quality of living in the Association and protects the property value of all unit owners. Directors & Officers Liability Insurance serves to protect the Board as it acts on behalf of the Association.

A Directors and Officers Liability Policy is designed to protect both a board member individually and the entire board should they commit an “act, error or omission” which results in a claim.

An association seeking coverage wants to look for a D&O policy with a broad definition of the “Insured”. The best D&O policies written for community associations will define the insured as “any past, present or future duly elected or appointed director, officer, or trustee of the Association.” The definitions of “insured” should also include Association employees, committee members, volunteers – and, equally important, an extension of coverage to the manager or management company.

The best D&O policies written for community associations will define the insured as “any past, present or future duly elected or appointed director, officer, or trustee of the Association.

Earthquake:

An earthquake is caused by a sudden shift between two tectonic plates on the earth’s surface. Stresses in the earth’s outer layer push the sides of the plates together, releasing energy in waves that travel through the earth’s crust and cause the shaking that we feel during an earthquake.

California is located on two particular plates: the Pacific, and the North American Plate. The Pacific Plate consists of most of the Pacific Ocean floor and the California coastline. The North American Plate is comprised of most of the North American Continent and parts of the Atlantic Ocean floor. One particularly volatile area between these two plates is the San Andreas Fault, which runs more than 650 miles long and extends to depths of at least 10 miles. Many other smaller faults like the Hayward (Northern California) and the San Jacinto (Southern California) branch from and join the San Andreas Fault Zone.

The Pacific Plate grinds northwestward past the North American Plate at a rate of about two inches per year. Parts of the San Andreas Fault system adapt to this movement by constant “creep,” resulting in many tiny shocks and a few moderate earth tremors. In other areas where creep is NOT constant, strain can build up for hundreds of years, producing great earthquakes when it finally releases. For further information, see the USGS General Interest Publication “Earthquakes.”

Earthquake insurance is an insurance policy that provides coverage against damages arising from earth movement as the result of an earthquake. If you are in California, seismically the most active region of the country, of particular concern is the volatile San Andreas Fault, which runs more than 650 miles long and extends upto depths of more than 10 miles.

Contact an ASI Business Insurance expert today for a free customized business rate quote by calling (951) 247-2003 or
click here to chat with us.

Over more than 15 years, ASI has been a specialist in working with Business Services customers, to help you insure your various risks. We are proud to handle the insurance and risk management needs of hundreds of businesses throughout California and the U.S.
Through the years we have helped our Business service customers survive the cyclical insurance market as well as the rapidly changing economic turns by providing low prices and outstanding services for protection from the following risks:

  • General Liability
  • Property
  • Umbrella Liability
  • Auto Liability & Physical Damage
  • Crime
  • Boiler and Machinery
  • Employment Practices
  • Workers Compensation

At ASI, we have the skill, knowledge and market selection to ensure our ability to deliver the right insurance product at lowest rates for your business.
Questions? Comments? Contact ASI today for a free quote by calling (951) 247-2003 or click here to chat with our Business Insurance expert today.

Over more than 15 years, ASI has been a specialist in working with Professional Services customers, to help you insure your various risks. We are proud to handle the insurance and risk management needs of hundreds of rofessional services businesses throughout California and the U.S.
Through the years we have helped our Professional services business customers survive the cyclical insurance market as well as the rapidly changing economic turns by providing low prices and outstanding services for protection from the following risks:

  • General Liability
  • Property
  • Umbrella Liability
  • Auto Liability & Physical Damage
  • Crime
  • Boiler and Machinery
  • Employment Practices
  • Workers Compensation

At ASI, we have the skill, knowledge and market selection to ensure our ability to deliver the right insurance product at lowest rates for your business.
Questions? Comments? Contact ASI today for a free quote by calling (951) 247-2003 or click here to chat with our Business Insurance expert today.

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