For any business owner today, commercial insurance is a necessary and very important component. The purpose of commercial insurance is to minimize the owner’s risks against losses, whether from weather, theft, vandalism, lawsuits, accidents or any other reason. O’Donnell Agency provides the core commercial coverage needed for businesses of all sizes, as well as seamless access to a comprehensive portfolio of specialized products to address the accounts’ unique or specialized exposures.
As an independent insurance agent, O’Donnell Agency can shop any risk with multiple companies. We currently use Travelers, Progressive, Farmers of Salem along with access to alternate markets for hard to place risks. We write all lines of commercial insurance including Workers Comp, Commercial Packages and General Liability Commercial Package/Business Owners Policy – a package or BOP policy can be written to the needs of the insured. Each business has similar coverage’s that they all need such as fire and liability but many business have specific coverage’s that they need that other businesses do not need. The BOP can be tailored to the individual business owner so they are well covered while not paying for extra coverage’s that is really not needed in their business. O’Donnell Agency has multiple markets for BOP policies even on hard to place risks.
Worker’s Compensation coverage is required of many businesses to cover their employees or themselves for injuries or accidents that occur while at the work place. The state requires most business to have this coverage. Those that are required face severe fine and penalties if they do not have the coverage. They also leave themselves open to litigation if an employee gets hurt. O’Donnell Agency writes worker’s compensation policies with many companies and in some cases can get dividends for certain classes.
This coverage is required for all vehicles used commercially or when the vehicle is registered to a corporation or LLC. There are important differences between the personal auto policy and the business or commercial auto policy. O’Donnell Agency has multiple markets for Business Auto and can also offer additional savings by packaging the auto with the business owner’s policy.
These policies are designed specifically for commercial buildings or businesses. Offer much higher coverage than a personal flood policy would offer.
Policy is designed to give you increased limits of liability over the business auto and or general liability policy. These policies offer relative low cost way to obtain additional liability coverage for your business.
Businesses that rent or own property are responsible for that property.Commercial insurance transfers many of the risks associated with that property. Common forms of commercial insurance are similar to types of personal insurance. These include auto insurance, property insurance and liability coverage. If you own and are involved in the day to day affairs of a business you need to make sure the business is protected and your assets are also protected. Commercial vehicles require commercial insurance.
Depending on what types of vehicles the business owns and how many vehicles they own, different types of policies are applicable. If a business owns many vehicles that are essential asset to the daily operation of the company, they will need fleet insurance. Companies that usually require fleet insurance include trucking and transport, taxi and limousine, as well as medical and ambulatory transport companies. An employer, whose employees drive company cars, and sometimes their own vehicle, can use commercial auto insurance to reduce the risk. This can include outside salespeople, executives or pizza delivery drivers. Most personal policies carried by individuals do not cover them when using their vehicle for work purposes, making it necessary for the employer to insure the driver and vehicle.
Businesses that rent, lease, or own property must protect their business from risks associated with the property. Much like commercial auto coverage, commercial property insurance resembles homeowners’ coverage but provides coverage focused on the needs of businesses. If a business is affected by storm damage, fire or water, losses can quickly mount and commercial property insurance protects against this risk. Property insurance protects the owner’s building, outdoor signs, furniture and equipment, inventory, fencing, landscaping, and others’ property. If a business is renting or leasing space property insurance is also available to protect the businesses assets. For example, rental property insurance protects the company’s physical assets against the risks of fire, water or storm damage.
Liability protection protects the company against the negligent behavior of an employee or damages caused by normal business operation. Liability protection covers medical expenses, attorney fees and damages when you are legally responsible. Commercial insurance companies offer liability protection for professional liability, fire liability, medical payments, premises liability, products and completed operations, employer’s liability, employee benefits liability and employment-related practices liability, and errors and omissions. Commercial insurance needs vary from business to business.