Protect what you’ve built with business insurance
Business insurance protects your employees, your business, and your reputation.
You have worked hard to build your business, don’t risk losing it all due to poor business insurance coverage. We understand businesses and how they operate. We take the time to learn about your company to tailor an insurance plan to meet your businesses needs.
Business insurance has so many moving parts that there is never a one-size-fits-all solution. Often times it even takes policies from several insurance carriers to adequately protect your business from all the risks. We work with a number of insurance carriers to find your company the best business insurance without stressing the bottom line.
Commercial Property Insurance
Building a business is a lot of hard work and personal sacrifice. Make sure it’s protected with a custom, up-to-date business property insurance policy with one of our carriers.
If a storm, fire, or other event damages your building, its contents, or any outdoor fixtures, your business faces serious hardship. The cost to replace or repair buildings and equipment might be higher than you expect. If you’re unable to conduct business until you have paid for repair or replacement of equipment your business could struggle to recover.
Business insurance with property coverage can help pay to repair or replace what’s been damaged, so you’re business can get back on track.
Our carefully selected insurance carriers also offer a range of business insurance options to give you the flexibility to cover just what you need so you can protect your business property.
Some of these coverages include:
- Builders Risk
- Garage Keepers Insurance
- Business Income
- Equipment Breakdown
- Water Backup
- Outdoor Signs
- Business Personal Property
We can explain your options, what protections your business needs, and how they might fit into your business insurance portfolio.
Commercial Auto Insurance
If your business uses vehicles to get the job done, then you need Commercial Auto Insurance. After all, even the best drivers can’t control road conditions, weather and other drivers. Don’t let an accident or other incident slow your business down.
Phillips Stafford Insurance Group can provide tailored Business Auto Insurance coverage to protect you from accidents, damage, theft and other covered losses. We can help you decide which policy you need, whether it’s for a single corporate car or a fleet.
Business auto insurance consists of several types of coverages, including:
This covers property damage and bodily injury to others if you are at fault in an accident. Bodily injury pays for damages and injuries to others and legal expenses.
This type of insurance pays for damage to your covered vehicle caused by theft, fire, vandalism or hitting a bird or animal.
Collision coverage pays for damage to your covered vehicle if you hit a vehicle, another vehicle hits you, or your vehicle rolls over, regardless of who is at fault. Collision coverage might be required if your vehicle is financed or leased.
This coverage pays for damage and injuries if you’re involved in an accident with an uninsured, underinsured or unidentified driver.
Different insurance carriers have different appetites for commercial auto risk. Working with an independent agency, like Phillips Stafford Insurance Group, allows you to select the best carrier with the best options for your business.
Commercial Liability Insurance
General liability insurance is essential to maintaining the financial health of any well-run business. Phillips Stafford Insurance Group can craft a custom business insurance solution to provide your business with coverage that is effective and affordable.
Commercial general liability insurance includes:
Bodily injury and property damage liability
Covered losses can include things like an injury from a slip or fall on your premises or worksite and damage to neighboring property.
This coverage for medical expenses is for a covered bodily injury to a third party as a result of an accident on your premises or worksite.
Personal and advertising injury liability
This coverage can help protect you in situations such as when an employee speaks or publishes information that slanders or libels a person or organization, publication of material that violates a person’s right to privacy, copyright infringement or wrongful eviction.
You can enhance a commercial liability insurance policy with additional coverage to meet the specific needs of your business. A majority of our carriers offer coverages like:
- Employment Practices Liability Insurance (EPLI)
- Garage Keepers Insurance
- Damage to Premise Rented to You
- Hired and Non-Owned Auto Coverage
- Employee Benefits Liability
- Coverage For Rented or Leased Equipment
Workers Compensation Insurance
Protecting your workers is not just the right thing to do, it’s the law. In some states, it’s consider a felony to have workers on the payroll without work comp insurance.
Workers compensation protects a worker if they suffer an injury while on the job and also protects companies from being sued by employees for workplace conditions that can cause an injury or illness, protecting your business.
Workers’ Comp insurance typically only covers injuries or illnesses when they occur as a result of duties performed on the job or while at work. Examples of injuries that may be covered by Workers’ Comp insurance include injuries caused by lifting heavy equipment, slipping on a wet or oily surface, or sustaining injury due to fires or explosions.
Premiums for workers compensation insurance are based on a rate-per-hundred dollars of payroll. These rates can vary from as little $0.20 to over $30. Because of this large variance, it’s important to work with an insurance agent that can help you minimize unnecessary over-payment of premiums by classifying workers accurately and showing you how to track payroll correctly.
Most insurance carriers automatically deny you for coverage if you have employees working without work comp insurance. For that reason, among others, it’s important to have work comp insurance in place prior to hiring your first employee.
Surety bonds are different than business insurance. They’re designed to guarantee a principal will act with honesty, integrity and financial responsibility and comply with a law or contract. When you apply for a bond with one of our bond suppliers, they review your case individually and efficiently, often issuing bonds within a 24-48 hour period.
Contract surety bonds
If you’re a contractor and need a bid bond, performance bond, payment bond or maintenance bond for your next job, Phillips Stafford can help. Our carrier’s net worth underwriting philosophy is unique, emphasizing personal and business assets, credit history and your project completion record. No contract surety bond is too small and no minimum premium is required.
Commercial surety bonds
Commercial bonds are usually required by law or regulation, and include license and permit bonds, public official bonds, notary bonds, federal bonds and other miscellaneous bonds. If you find that you need one for your business, talk to us.
Court surety bonds
If you’re involved in a court case, you might need to obtain a court surety bond. This type of bond guarantees that a person or entity will faithfully perform their legal duties and will demonstrate financial responsibility for the benefit of another until the final outcome of the court case is reached. Appeal bonds and probate bonds are common types of court surety bonds.
Fidelity surety bonds
Dishonest employees are a reality, even for business owners who think their assets are secure. Fidelity bonds can protect you and your customers against employee theft and dishonesty.