General Liability Insurance
General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business. Precept Insurance Services recommends that all businesses have general liability coverage in place.
What you need to know about commercial liability insurance.
Take a look at the list below for additional general liability coverages that are often available.
Professional Liability Insurance (Errors & Omissions)
Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. Precept Insurance Services recommends that all professional and technology companies have E&O coverage.
Employment Practices Liability Insurance (EPLI)
Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, Precept Insurance Services recommends considering this type of coverage.
Directors and Officers Insurance (D&O)
D&O covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.
To find out more about these, as well as other products and services, call Precept Insurance Services at (972) 242-6789 and we’ll help make sure you’re properly covered.
Commercial Property Insurance
Serving the unique needs of businesses in all of Texas.
One of the most common types of business insurance, commercial property insurance provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, windstorm and other natural or manmade disasters are examples of what is typically covered.
A basic commercial property insurance policy may be all you need, although the types of coverage can vary between different insurance companies. As an independent agent, Precept Insurance Services can help you determine the type of insurance policy and range of coverage that is best for your business. For a full list of coverage available, or to learn more about this product, contact us today at (972) 242-6789.
What you need to know about commercial property insurance.
Do you own a commercial building? If so, do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building. Give Precept Insurance Services a call today at (972) 242-6789, and we’ll help you determine if you have enough commercial property insurance for your business.
Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage. Check your current property insurance policy to be sure you are covered. If you’re unsure, just ask Precept Insurance Services to review your coverage, and we’ll help you find the best solution.
Business Personal Property
Business personal property insurance covers property at a specified location for furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (equipment or installation floater).
Business Income (Business Interruption Coverage)
This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed. It applies while the premises are being restored because of damage from an event, such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. Precept Insurance Services strongly recommends that all businesses acquire this coverage.
Electronic Data Processing (EDP)
This coverage is separate property coverage specifically designed to protect your computer related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and in some cases virus attacks.
Based in Texas, Precept Insurance Services understands the business insurance needs of our customers. The right coverage for you is unique – call us at (972) 242-6789 today to find out how to protect your business and your future with the right insurance.
Commercial Auto Insurance
Commercial Auto Insurance for Texas
Commercial auto insurance can cover a combination of vehicle types (trucks, cars) and drivers, as well as some types of motorized equipment. It provides for bodily injury liability and property damage while operating a company automobile, medical payments or Personal Injury Protection (PIP) for the driver and passengers of the policyholder’s car. Injuries or damage to someone else are also covered.
Hired/Non-owned Auto Liability
Are you renting cars or are your employees using their own vehicles? This particular coverage provides business insurance coverage for certain liabilities arising from the use of a rented or leased vehicle (hired), or a non-owned vehicle (employee using their own vehicle on company business). Oftentimes this coverage can be added inexpensively to a business auto policy, or in some cases, a general liability policy.
Use of Personal Vehicles
Insurance policies for privately owned vehicles may not cover damage to your privately owned car or truck when it is used for business, even home cosmetics, jewelry sales or a pizza delivery business.
Every business is unique – talk to Precept Insurance Services today to find out how to get the best commercial auto insurance, service, price and value. Give us a call at (972) 242-6789.
Commercial Umbrella Insurance
If umbrella policies are good for individuals, then they are imperative for business. When a catastrophic liability loss occurs, an umbrella insurance policy can mean the difference between a business surviving, or not.
The rising costs of lawsuits and judgments are important for today’s business owner to consider. Catastrophic liability losses can happen to any business at any time, and a commercial umbrella policy protects you when those losses exceed your basic liability coverage. The time and effort you have taken to build your business is too important for it to disappear after one unforeseen event. Call Precept Insurance Services at (972) 242-6789 today about a commercial umbrella insurance policy.
What you need to know about Commercial Umbrella Insurance
Commercial Umbrella Insurance helps you protect your assets by providing liability limits above and beyond your other policies. In some cases, it even broadens your protection. Due to the unpredictable nature of jury awards, Precept Insurance Services recommends that your business insurance policy include this coverage.
What is Excess Liability Coverage?
This coverage provides extra liability limits over an Umbrella policy. This coverage typically follows the terms of the first underlying insurance policy.
Who needs Excess Liability Coverage?
Higher limits may be necessary for businesses with high loss potential, high profile, sizable sales, numerous assets, large auto fleets, worldwide presence, and significant public exposure.
Talk to Precept Insurance Services today about your business operations and we can advise you on what kind of liability coverage you need to protect yourself and your company. Just give us a call at (972) 242-789 and we’ll help make sure you’re covered.
Workers’ compensation coverage pays for medical care and physical rehabilitation of employees injured at work and helps to replace lost wages while they are unable to work. Additionally, this coverage protects an employer from being sued by an injured worker in most cases.
Precept Insurance Services can help your business find complete solutions to your unique workers’ compensation insurance needs. We’ll find solutions that create safer and more productive workplaces, more confident and secure workers and overall savings you’ll see on the bottom line.
Coverage for office workers using their own vehicles on company business is often needed, as well. If you have employees, it is critical that you consider this workers’ compensation coverage.
What you need to know about workers’ compensation insurance
Some Workers Compensation coverage can include:
- Innovatie payment systems
- Medical disability case managers
- Utilization management nurses
- Certified life care planning nurses
- Vocational rehabilitation consultants
- Physician consulting services
- Legal staff
- Contracts with medical network providers
- Managed prescription drug program
To find out more about this product and other products and services, contact Precept Insurance Services today by calling (972) 242-6789.