Commercial Insurance

Business Owner:

Your business is your lively hood and every transaction should help build your brand. Don't simply leave your business up to chance without serious protections. Each and every day your business should be protected from liability risks which here at The Hurst Hofer Agency Inc. can help you, as a business owner, understand. We have several A+ commercial insurance providers that offer top notch coverages for low cost to provide you great protection to shield you from unforeseen problems arising from your day-to-day customer interactions within your business dealings.

Understanding Liability Insurance

Liability insurance is for businesses that could potentially suffer financial losses above and beyond any ability for the business to handle the loss. Most every business will need one of the six types of liability insurances to operate in New York State to mitigate losses. For example, liability insurance will help with legal costs including lawyer fees, court fees, any payments due and getting any rewards due to the business. 

Six Types of Liability Insurance

- Professional Liability-

    This type of liability insurance protects businesses that provide services. it protects businesses against malpractice, negligence and any errors for any financial losses.

- General Liability-

  This liability coverage protects ANY type of business from any type of financial loss from medical costs, settlements, bodily injury suits, libel, property damages, defense suits, slander and/or judgements.

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- Home Business-

 These types of liability policies cover businesses that are operated from the owner's home. these policies are riders added to the homeowner's policy that provide a minimal coverage amount for third parties for losses of injuries and business expenses like equipment.  

- Product Liability-

 These liability policies are for businesses that provide products via retail, wholesale, distribution or manufacturing. These types of policies protect against financial losses caused by defective products that caused some sort of bodily harm and/or injury. 

- Commercial Property-

 This liability coverage is for business owners with large amounts of physical and/or property assets. This coverage will protect the business against any losses from theft, hail, wind, fire, smoke, vandalism and much more. 

- Business Owners-

 This is a combination liability policy that bundles and simplifies many coverages so you as a business owner can save money. ALL business owners can benefit from a business owners policy. 

Call the Hurst Hofer Agency Inc. at 315-457-3580 for a free quote today!

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Commercial Auto

When you own your own business and you utilize vehicles to perform tasks for your business you should have commercial auto insurance. Commercial auto insurance covers vehicles whether you rent, own or lease the vehicles and helps pay the cost of a loss from legal fees, medical bills and repairs. The vehicles can range from pickups, farm vehicles, trucks, vans and cars. 

Importance of Commercial Auto Coverage

As a business owner understanding what even a minor fender bender could potentially cost your business's bottom line is important. From repair costs, medical bills to court costs, full and extensive auto insurance coverage for your commercial vehicles is very important. 

What Does Commercial Auto Insurance Cover?

Businesses are offered a wide range of customizations:

- Collision- covers the vehicle when damaged in a collision- minus deductible

- Liability- covers property damage and bodily injury

- uninsured/underinsured motorist- when you're in an accident with someone who is uninsured or lacks enough liability to cover (if they are at fault), this coverage will help to cover costs for injuries and property damages

- Comprehensive- covers loss or damage to insured vehicle- minus any deductible- other than caused by rollover or collision

- Personal injury/medical payments- reasonable payments for covered persons for funeral expenses and necessary medical expenses

Call us today for a free quote at the Hurst Hofer Agency Inc. at 315-457-3580!

Workers Compensation Insurance

All businesses in New York State with any employees are required to have workers compensation insurance. This rule includes employees that are family members, full-time and part-time employees. Business owners can obtain workers comp insurance through private, the NY State insurance Fund or self-insurance. Here at the Hurst Hofer Agency Inc., we work several top-notch insurance carriers to get you your workers compensation policy at great rates. Give us a call today for a free quote. 

What is Workers Compensation Insurance?

Workers compensation insurance is mandatory in New York State if you, as a business owner, have employees. If you do not have it, you could face fines and penalties. This insurance not only protects workers, it also protects the business, in the event of accidental diseases, deaths, strains, trips, falls, or injuries, while on the job. 

What are the Annual Costs?

On average workers comp premiums are calculated based on your payrolls annual gross. Meaning, the more you pay out the more you will pay for your workers comp. Keep in mind that your premiums will also be based on your claim history, type of business (risk involved), employee job roles, and state laws. 

Who Needs Coverage?

New York State requires coverage for all employees. If you are a sole proprietor or officer, it is optional. With contractors/ sub-contractors, if they don't have their own insurance, you must provide them with workers comp. insurance. You must prove they have their own by pulling their workers comp. certificate of insurance. 

What does Workers Comp. Not Cover?

- injuries outside the workplace

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- commutes to/from work (under most circumstances)

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- intentional injuries

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- Substance abuse/intoxication

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Call us today at the Hurst Hofer Agency Inc. for a free quote at 315-457-3580!! 

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