Commercial Insurance Solutions
At MEA, we help determine if it is cost effective for you to insure by explaining the options available to handle the insurance liability, such as decreasing the risk, setting up protocols to prevent loss, or manage and absorb the risk. Because we take the time to fully understand your business operations, we’ll make certain your coverage matches your business exposures by carefully reviewing all policies for conditions, limitations, and exclusions so there are no surprises if you need to file a claim. We have a great depth and breadth of knowledge in small business insurance and employee insurance.
Commercial Property Insurance
Commercial property insurance covers the inventory and/or assets (including the building) where your business operates, as well as loss of business income. There are three forms of coverage:
• Basic: for disasters such as fire.
• Broad: adds coverage for loss or damage from water, snow, ice, sprinkler leakage and more.
• Special: covers damage or loss from any occurrence except those specifically excluded.
General Liability Insurance
It is important to be protected in case your business is held legally responsible for injury or damage. Large and small business liability insurance coverage includes:=
• Bodily injury
• Property damage
• Products-completed operations
• Contractual liability
• Liquor liability
• Employee benefits liability
• Fire, lightning or explosion damage
• Hired auto & non-owned auto
• Legal defense costs
• Medical payment
• Personal injury
• Advertising injury
Professional Liability Insurance
Professional liability insurance, also known as Errors and Omissions insurance, provides protection in case a client claims to have suffered a financial loss resulting from an error or omission committed by you in the delivery of your professional services.
If your business requires employees to drive company vehicles, you will need to have commercial vehicle insurance that provides coverage for liability as well as physical damage.
There are three basic types of physical damage covered by commercial auto insurance:
• Collision coverage pays for losses that result from a collision of the insured vehicle.
• Comprehensive coverage provides coverage for losses other than those covered by collision.
• Specified perils coverage is a less expensive option than comprehensive coverage. It generally covers fire, theft, and other specified perils.
Commercial Umbrella Policies
As part of our business planning services, will carefully evaluate your insurance coverage and help you select the type of commercial umbrella policy that will fill any gaps in coverage from other insurance. Each of our client’s needs for umbrella coverage is different, and it is critical to have the right umbrella coverage—not having it could be financially disastrous for your business.
Surety bonds, sometimes referred to as contractor insurance or construction insurance, ensure developers that contractors do their work, pay subcontractors and perform mutually agreed upon duties. Sureties assess contractors before they accept the project, but are important to protecting both public tax dollars and private investments, and are required by law for some public works projects.
Just like businesses, churches and other religious institutions need to have proper coverage should injuries or damage occur. We can help you determine which of the many policies are best for your religious institution, ministry, religious college or school, day care center, senior center, furnishings and equipment, or mission trip.
Directors and Officers Liability Coverage
Your business will need to evaluate the need for directors and officer’s liability insurance because not all situations will be covered—even if the company has agreed to indemnify the director or officer for liability resulting from his or her duties. If the company goes bankrupt or lacks the funds to pay a claim, directors and officer’s liability insurance will cover your risk.
Workers Compensation Insurance
Worker’s compensation insurance covers your business for an employee’s on-the-job injury, and state law requires that you carry some type of worker’s comp insurance. In most cases, worker’s compensation laws protect your business by preventing an employee from bringing a negligence lawsuit against an employer for work-related injuries.