BUSINESS INSURANCE
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Mandatory Business Insurance
Group Health
Group health insurance is purchased by an employer and offered to benefit-eligible employees. Employers can choose to cover the entire cost of the plan or require that employees to contribute a state-regulated percentage of their monthly wage to their health premium.
Workers' Compensation
Workers' compensation insurance protects employee well-being by providing comprehensive coverage for medical care, wage replacement, and death benefits in the aftermath of work-related injuries or illnesses.
Temporary Disability Insurance (TDI)
Temporary disability insurance, also know as "TDI," provides wage replacement benefits to eligible employees who are unable to work due to a non-work related injury or illness, such as pregnancy.
Other Business Insurance
Group Life
Employers offer group life insurance to participating employees, who can voluntarily contribute a portion of their paycheck to their life policy. Employers can match up to a certain percentage of this contribution.
Employee Life Insurance: Term life policy that remains active as long as the employee remains employed by the providing company.
Accidental Death & Dismemberment (AD&D): Buy-up option that provides addition benefit for specific workplace accidents.
Key Person Insurance: Life coverage for an owner or key executive who is considered critical to a company's success.
Business Owner's Policy (BOP)
A BOP package insurance policy is designed for small businesses, providing both property and liability coverage at a discounted rate. Specifically designed for low-risk businesses, BOPs offer broad coverage for common claims.
Property Insurance (BOP): Protects against financial losses caused by damage to physical property, equipment, and inventory.
Liability Insurance (BOP): Safeguards your business from financial losses stemming from bodily injury, property damage, and legal fees.
Business Interruption: Compensates your business for lost income and incurred expenses due to disruptions in daily operations.
Additional Coverages: Expand coverage with add-on options, including natural disasters, business auto, crime, and cybersecurity.
Business Property
"Commercial" property insurance protects your business from financial losses caused by damage to physical assets. This comprehensive coverage covers the costs of repairing or replacing damaged property to help businesses resume normal operations.
General Property Insurance: Protection for physical assets, such as buildings, equipment, inventory, and supplies.
Crime Insurance: Coverage to defend against employee theft, burglary, fraud, forgery, and other business-related crimes.
Fire, Flood, Hurricane, & Earthquake: Shield your business from the unexpected perils of fire and catastrophic natural disasters.
Inland Marine (Land Cargo): Insures valuable assets or cargo while in transit over land or temporarily stored off-premises.
Ocean Marine (Ocean Cargo): Safeguards cargo onboard shipping vessels while in transit either domestically or internationally.
Business Liability
"Commercial" liability insurance is designed to provide coverage for customer injury and legal fees associated with lawsuits alleging harm caused by a business's operations, products, or professional services.
General Liability Insurance: Broad package policy for businesses covering bodily injury, property damage, and legal fees.
Specialty Business Liability Coverage
Employment Practices Liability (EPLI): Employment-related lawsuits: discrimination, harassment, and wrongful termination.
Errors & Omissions (E&O): Coverage financial losses resulting from professional errors and omission or negligence.
Malpractice Liability: Insurance for healthcare professional claims of malpractice or liability.
Directors & Officers (D&O): Safeguards directors and officers of corporations from lawsuits alleging wrongdoing in their roles.
Cyber Liability: Defense against cyberattacks, including data breaches or ransomware, that may result in business interruption.
Fiduciary Liability: Shields individuals and organizations from claims of gross mismanagement or breach of fiduciary duty.
Builders' Risk: Ensure completion of construction projects by protecting against financial losses caused by unexpected damage.
Business Interruption: Compensates your business for lost income and incurred expenses due to disruptions in daily operations.
Product Liability Insurance: Coverage against claims of injury or property damage caused by a business's products.
Environmental Insurance: Protection if your business is the cause of environmental damage or pollution-related incidents.
Commercial Umbrella Insurance: An extra layer of liability protection beyond the limits of a business's other liability policies.
Business Auto
"Commercial" auto insurance shields your business from financial setbacks caused by vehicle accidents. SwitchUp helps local businesses find coverage for all types of business vehicles, including cars, trucks, boats, and the garage they are stored in.
Business Auto: Car insurance for vehicles driven by authorized business representative and used for commercial purposes.
Truck: Coverage for large commercial vehicles used to transport business goods and assets via roadways.
Watercraft: Hull and cargo protection for owned maritime vessels used to transport goods and assets via waterways.
Commercial Garage: Additional coverage for business that primarily operate in garages or service stations.
Disclaimer:
SwitchUp Insurance LLC is an independent insurance brokerage firm, not an insurance provider. We don't underwrite or issue insurance policies. We collaborate with a network of reputable insurance carriers to offer the client a comprehensive and unique range of insurance products. We negotiate with the providers to achieve the most competitive rates in the market for our clients.
SwitchUp LLC holds itself to a fiduciary standard, ensuring that the coverage our clients receive aligns with their individualized needs. We prioritize providing transparent and unbiased advice.
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