Business Insurance / Commercial Insurance

Big Protection for Small Businesses

Commercial Insurance from RJ Galla

It’s no secret that our economy is built on a foundation of small businesses. In fact, over 60% of net new jobs are created by small businesses. Government records agencies report that 44% of all economic activity in the US comes from small businesses. That’s a huge sector full of activity that represents a host of risks every day. From production to distribution, retail sales, and wholesale sales to eCommerce, small business spans all industries…and the risks they face are equally diverse.

Commercial Property Insurance

Property Insurance covers the risk of physical loss or damage to property. Property is typically considered buildings, equipment, finished inventory, raw materials, exterior/interior signs, office furniture, etc.  Commercial property insurance protects many assets a company owns and uses during the course of doing business which could include equipment leased, rented or borrowed.

Property Insurance applies to two types of losses, “direct” and “indirect”:

• Direct loss means property that is lost, stolen, damaged, or destroyed. These losses can result from theft, broken pipes, storm damage, fire, etc. Coverage can be purchased to cover direct loss from earthquakes or floods.
• Indirect or consequential loss resulting from a direct loss. This means “business interruption”, business income, extra expenses and those expenses for the daily operation of doing business.

Commercial General Liability Insurance

Casualty Insurance means liability Insurance, for claims made against an insured by a third party for bodily injury or property damage. Common types of claims include, but are not limited to, slip and falls, property damage, faulty product, and libel and slander. Commercial general liability insurance also provides defense coverage.

Commercial general liability insurance provides coverage for liability arising from:

• Personal and Advertising Injury
• Damage to Premises Rented
• Medical Payments
• Premises and Operation
• Products/Completed Operations

Commercial general liability insurance varies depending on your risk and industry. For example, contractors generally have their own type of commercial liability insurance vs. general liability insurance for a restaurant or retail location. We cannot stress enough how much you need an agent who will work closely with you to ensure you are covered for any liability situations your business may encounter.

Workers’ Compensation

Workers’ Compensation insurance provides benefits for employees who sustain injury arising out of and resulting from their duties and responsibilities during the course of employment. Coverage applies to bodily injury and diseases arising out of and in the course of employment.

Workers’ Compensation provides for the payment of four types of benefits:

• Medical benefits
• Income benefits
• Death benefits
• Rehabilitation benefits

There are two types of Workers’ Compensation programs:

• Fully Insured
• Self-Insured

Worker’s compensation insurance has many laws attached to it that vary depending on the size of your company, and costs may vary widely. However, we know the regulations for the different states we work in and ready to help you find the right coverage. At R.J. Galla Insurance Agency, we provide you with complete details on Workers’ Compensation Insurance and recommend cost-effective ways to control expenses through safety engineering and claim services.