Insured – what does it mean?

Small businesses typically purchase insurance policies to protect themselves against losses and lawsuits in case of unforeseen circumstances. In exchange for paying insurance premiums, businesses gain assurance that they won’t have to pay large sums out of pocket to cover damages or attorney fees and court costs.

• Builders Risk, or course-of-construction insurance provides coverage for theft, vandalism, fire and other perils during construction that most other policies don’t cover. It pays out rather quickly and helps to get a project back on track and across the finish line. Let Ermitage Risk be your partner for your Builders Risk coverage.
• General Liability is one of the most common forms of small business insurance. It protects against injuries to third parties or damage to someone else’s property. It also covers construction defect claims for issues that may become apparent years after the construction is finished, up to the state’s statutory limitations. 
• Professional Liability, also known as Errors&Omission insurance, helps to cover any lawsuits resulting from unsatisfactory work or professional negligence claims.
• Workers Compensation offers assistance with income and medical bills in the event of bodily injury to an employee and is mandatory in most states when the business employs as few as one employee.
• Commercial Property insurance helps cover the cost of repairing damaged property or replacing any stolen goods.
• Commercial Auto insurance provides coverage to the policyholder and approved employees who drive company vehicles, as well as for personal errand use. It is mandatory in all states.
• Cyber Insurance helps cover the cost of notification, credit monitoring, and other expenses if sensitive digital information is jeopardized.
• Commercial Umbrella insurance provides additional insurance coverage for claims made on general liability, commercial auto, or employer’s liability insurance.