We Provide a Complete Umbrella of Business Insurance
Yerkes-Stephens Insurance Agency provides Business Insurance to clients in New Haven, Guilford, Branford, Madison, Clinton, Westbrook, and Old Saybrook
Why Do I Need Business Insurance?
Yerkes-Stephens Insurance’s trained specialists have the experience and expertise to provide your Connecticut business with comprehensive commercial insurance tailored to your specific needs--in synch with your exposures, risk tolerance, and budget parameters. As an independent commercial agency, we have access to a number of top-rated insurance companies, enabling us not only to get you the most for your insurance dollar, but also, when needed, to find solutions that go beyond standard policies.
Forms of Business Insurance Coverage
Business Owner Insurance
A Business Owner Policy, commonly called a “BOP,” contains many of the insurance coverages needed by most small businesses. While these policies are not standard--there is great variation from insurance company to insurance company--there are certain common elements. The basic BOP offers business property coverage for both building and contents, and liability insurance for your business. This protection will generally include liability for both the operation of your business at its established location, and for your products or completed services. The policy will also provide business income coverage in the event of a loss that prevents you from running your operation, providing compensation for that loss of income.
General Liability Insurance
Normally, it is difficult for businesses, especially general contractors, to work without general liability insurance. This insurance is intended to guard owners and operators of companies from claims that may come from a broad spectrum of sources. These exposures could be about almost anything, including liability for damages from accidents during the operation of the insured business and from products it manufacturers or services it renders, as well as contractual liability, etc.
The liability limit you select-- one, two, or three million dollars--determines the cost of your general liability insurance. Also factored into the rates are the kind of work you do, gross receipts, and total payroll expenses., With general liability insurance, you can make a down payment and then follow up with installments, similar to other types of insurance.
Workers Compensation Insurance
Workers compensation insurance protects employers from employee claims resulting from injuries related to their work. It covers lawsuits against your business and provides employees with compensation for on-the-job injuries.
By law, most employers are required to provide insurance coverage for lost wages and medical bills incurred as a result of on-the-job accidents or illnesses. For many businesses, workers comp is the largest part of their insurance costs.
Commercial Auto Insurance
A commercial auto policy is required under most circumstances when a vehicle is used for business purposes and meets certain other requirements. It is not just a commercial registration that determines whether you need a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight. However, some small trucks can be owned and insured under a personal automobile policy in specific circumstances.
Commercial Umbrella Insurance
If you own a business, you probably own some form of general liability insurance that protects you in the event of a lawsuit due to alleged negligence on your part. However, there may be situations where the limits of your general policy may not provide adequate coverage. A commercial umbrella can provide you and your business with additional liability protection.
Professional Liability or E&O Insurance
Professional liability insurance, sometimes referred to as Errors and Omissions insurance, or E&O, protects businesses or individuals in the event that a customer holds the company or business owner responsible for a service that failed to be provided, or was provided, and did not have the expected or intended results.
Professional liability insurance is separate from a general liability (GL) insurance policy, which covers you mainly for bodily injury and property damage liability.
Cyber insurance covers your business’s liability if attacked by cyber criminals. If a data breach involves customer information, data compromise protection covers credit monitoring, public relations, and legal fees. For victims of identity fraud, identity recovery protection can help restore their credit history. Cyber protection covers loss of business revenues and the cost of restoring data after a malware, virus, ransomware, distributed denial-of-service (DDoS), or other cyber attack. Cyber insurance for business can be written as an endorsement or a separate policy.
Get Insured in 3 Easy Steps>
1. Tell us what you need insured.
2. Choose the Plan that fits your life.
3. Relax! We've got you covered.
Let us help find the right insurance coverage for you and your family. We offer a full array of products for Connecticut residents and businesses, including: Homeowners Insurance, Auto Insurance, Motorcycle Insurance, RV Insurance, Business Insurance, Life Insurance, Boat Insurance and Additonal Insurance Coverage. We feel privileged to serve our clients and look forward to earning your business!
Coverage you can trust
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In New Haven call 203-691-1276