Coverage

Protect Your assets with the right business insurance coverage

Every business today faces both opportunity and risk.  For survival in this marketplace, it is essential that it has the right insurance coverage. Business owners can protect their organization, their business assets and their employees from financial risk by choosing appropriate business insurance with the right coverage.

Able Rate Insurance Services is focused on providing business owners with the coverage that they need and or desire.  We are capable of customizing your coverage to fit your needs weather you need some type of package policy, multiple policies, or mono-line coverage. 

Business insurance is a crucial risk management tool that helps protect your assets by providing financial coverage for various risks and liabilities associated with your business operations. Here’s how business insurance safeguards your assets:

  1. Property Protection:

    • Coverage: Property insurance protects your physical assets, including buildings, equipment, inventory, and other business property, against perils such as fire, theft, vandalism, or natural disasters.
    • Asset Protection: In the event of covered damage or loss, property insurance helps you recover the costs of repairing or replacing damaged assets, preventing a significant financial burden on your business.

  2. Liability Coverage:

    • Coverage: General liability insurance covers third-party bodily injury, property damage, and personal injury claims arising from your business operations.
    • Asset Protection: If your business is found liable for causing harm or damage to others, the insurance policy can cover legal expenses, settlements, or judgments, safeguarding your assets from the financial impact of lawsuits.

  3. Professional Liability (Errors and Omissions) Coverage:

    • Coverage: Professional liability insurance protects businesses that provide professional services from claims of errors, omissions, or negligence.
    • Asset Protection: If a client alleges that your professional advice or service caused them financial harm, professional liability insurance can cover legal costs and potential settlements, protecting your business assets.

  4. Product Liability Coverage:

    • Coverage: If your business manufactures or sells products, product liability insurance provides coverage for claims related to product defects or injuries caused by the use of your products.
    • Asset Protection: In the event of a product-related claim, the insurance can cover legal expenses and potential settlements, preventing a significant financial impact on your business assets.

  5. Business Interruption Insurance:

    • Coverage: Business interruption insurance helps cover lost income and operating expenses if your business is forced to temporarily close due to a covered event, such as a fire or natural disaster.
    • Asset Protection: By replacing lost income and covering ongoing expenses during the downtime, this insurance ensures that your business can recover without depleting your assets.

  6. Cyber Liability Coverage:

    • Coverage: Cyber liability insurance protects against losses related to data breaches, cyberattacks, or other cyber threats.
    • Asset Protection: In the event of a data breach or cyber incident, the insurance can cover costs associated with notifying affected parties, legal defense, and regulatory fines, helping to protect your business assets.

  7. Workers’ Compensation Insurance:

    • Coverage: Workers’ compensation insurance provides coverage for medical expenses and lost wages for employees who suffer work-related injuries or illnesses.
    • Asset Protection: By covering the costs of employee injuries, this insurance helps protect your business assets from potential lawsuits filed by injured workers.

  8. Directors and Officers (D&O) Liability Coverage:

    • Coverage: D&O liability insurance protects company leaders from personal financial losses due to lawsuits alleging mismanagement or wrongful acts.
    • Asset Protection: By covering legal defense costs and settlements, D&O insurance helps safeguard the personal assets of directors and officers.

In summary, business insurance serves as a financial safety net, shielding your assets from the potentially devastating impacts of unexpected events, legal liabilities, and business disruptions. It allows you to focus on growing and operating your business with the confidence that you have a layer of protection against a wide range of risks.

Types of Coverages we are able to assist you with

  • General Liability Insurance

The basic protection for claims against your business.

  • Errors and Omissions

Protection against claims of negligence

  • Professional Liability

Protection for specific risks in your field.

  • Business Owners Policy

General Liability plus coverage for the property.

  • Home Based Business Insurance

Protects you and your business for occurrences your homeowner’s insurance will not cover on and off-premise.   

  • Short-Term Liability Insurance

Purchase coverage for a specific period of time.

  • Cyber Security Insurance

Protection from cyber-related security risks.

  • Commercial Property

Various types such as; Lessor’s risk (LRO), Habitation, Retail, Office, even Vacant. Property may also include items such as; tools, equipment, and inventory.

  • Medical Malpractice

Protection for claims against your medical practice.

  • Workers Compensation

Protection from work-related illness or injury.

In addition to:

  • Commercial Auto
  • Dealer Open Lot /Garage Repair
  • Liquor Liability
  • Cannabis
  • Umbrella / Excess Liability
  • Directors and Officers
  • IT Technology
  • Products Competed Operations