Commercial Insurance – Property, Auto, Liability

Commercial Liability Insurance

Commercial liability insurance is important for businesses of all sizes, as it provides protection against various risks and liabilities that can arise during the course of business operations. Here are some of the key reasons why commercial liability insurance is an essential tool for businesses to protect themselves against the various risks and liabilities they face:

  • Protection Against Lawsuits: Commercial liability insurance can protect a business from the financial impact of a lawsuit or legal claim made against the business, such as claims of personal injury or property damage.
  • Risk Management: With proper and adequate commercial liability insurance in place, businesses can better manage their risks and minimize the financial impact of unexpected events.
  • Meeting Contractual Requirements: Many contracts, such as those for leases or vendor agreements, require businesses to have certain types and levels of liability insurance. Without adequate coverage, businesses may be in breach of contract and subject to penalties or legal action.
  • Professional Image: Commercial liability insurance can help businesses project a professional image and instill confidence in customers and business partners.
  • Peace of Mind: Knowing that your business is protected by insurance can give you peace of mind and allow you to focus on growing your business without worrying about potential risks and liabilities.

Contract Essex Insurance Brokers with all your commercial/business insurance needs.

Call us at (847) 954-2222 or email us at [email protected].

Business Interruption Insurance

While business owners can’t control the forces of nature or prevent all serious accidents from

happening, they can cushion the financial blow of a possible shutdown by purchasing adequate

business interruption insurance. This kind of insurance typically reimburses policyholders for lost income and the expenses they incur during a break in normal business operations. If, for example, a fire forces a business to shut down for repairs, the owners can be compensated for the money that would’ve been made, as if the fire hadn’t occurred.

Business interruption insurance can include two main types of coverage:

  • Business income insurance, which generally pays business owners the amount of money they would have earned if a covered peril hadn’t forced them to suspend normal operations. This insurance will pay for net income and for continuing normal operating expenses.
  • Extra expense insurance, which covers expenses that the business would still incur regardless of a shutdown. Examples of these expenses include rent, commercial mortgage payments, commercial insurance premiums, utility bills and some taxes.

To protect your business against unexpected interruptions, call Essex Insurance Brokers at (847) 954-2222 or email us at [email protected].

Error and Omissions / Professional Liability Insurance

Errors and omissions insurance is intended to help professionals when they’re accused of negligence or incompetence in their work, and they usually arise whenever a professional either provides services that don’t meet a client’s or customer’s expectations or fails to provide an expected service at all. For most types of errors and omissions coverage to apply (with an exception of medical malpractice insurance), the harm to the client or customer must be financial in nature.

Basic examples of scenarios that might ultimately result in an errors and omissions claim include the following:

  • Giving bad professional advice.
  • Failing to complete an important task before an important deadline.
  • Committing a seemingly minor but ultimately costly clerical error.
  • Performing an inadequate analysis of a client’s needs.

The terms “error and omissions insurance,” “professional liability insurance” and “malpractice insurance” are often used interchangeably; however, important distinction exist among them:

  • Professional Liability Insurance is a broad category of liability insurance that includes malpractice insurance, errors and omissions insurance, directors and officers insurance and more.
  • Errors and Omissions Insurance is a type of liability insurance that covers various professionals when their services don’t meet clients’ or customers’ expectations.
  • Malpractice Insurance is another name for errors and omissions insurance specific to medical doctors, attorneys and a few other professions.

Are you looking for the right professional liability or error’s and omission insurance to protect your business? Call Essex Insurance Brokers at (847) 954-2222 or email us at [email protected].

Commercial Property Insurance

Running a business is difficult enough without having to worry about theft, accidents or natural disasters that could result in the loss of property. Good property insurance won’t be able to stop those unfortunate events from occurring, but it can certainly help a business get back on its feet.

The most common kind of property insurance for businesses is the building and personal property coverage, which covers business building, business personal property and personal property  of others while in the business’s possession. However, beyond this basic form, insurance companies offer various endorsements or separate endorsements altogether to cover properly and adequately the risks of business property owners.

To find out what products offered by our insurance partners are most suitable for your business property needs, call Essex Insurance Brokers at (847) 954-2222 or email us at [email protected].

Commercial Auto Insurance

Commercial auto insurance provides coverage for vehicles used for business purposes. This type of insurance policy is typically purchased by businesses that use vehicles as part of their operations, such as delivery companies, trucking companies, and taxi or ridesharing services.

Commercial auto insurance provides coverage for a range of risks, including liability for bodily injury and property damage to third parties, collision damage to the insured vehicle, and theft and other non-collision losses. The commercial auto policy may also include coverage for medical expenses, personal injury protection, uninsured or underinsured motorist coverage, and other optional coverages.

The cost of commercial auto insurance varies depending on factors such as the type and number of vehicles insured, the level of coverage selected, the driving history of the insured drivers, and the location and nature of the business operations. Contact us to obtain a quote for your commercial auto insurance needs.

To insure your commercial auto, call Essex Insurance Brokers at (847) 954-2222 or email us at [email protected].