Employers are legally obligated to take reasonable care to ensure their workplace is safe. But accidents do happen and workers compensation insurance 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:
- 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 Carolinas Commercial Insurance agents can provide details on specific laws in your state.
- Report claims right away to help employees get the care they need and to prevent injuries or illnesses from escalating.
A business auto policy protects your company’s bottom line by providing more liability coverage than a 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. Business owners need insurance to protect their business and their assets. A Business Owner’s Policy (BOP) includes three types of insurance:
Property Insurance covers damage to buildings and contents owned by the company. This includes buildings, equipment, computers and inventory. Your AAA Carolinas Commercial Insurance agent can 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 is an essential part of financial protection from lawsuits and claims. Liability insurance covers your 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 covers the loss of income if your 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.