Insurance coverage for your business — so you can get back to work. Serving all of New Jersey
Business Owner's Policies
As a business owner, you strive to make decisions that are right for your business, your employees and yourself. This includes decisions about business insurance.
You know you need excellent coverage. You don’t, however, have time to become an expert in business insurance. That’s where Lions Rock Insurance can help.
A Business Owners Policy (BOP) combines property, liability and business interruption coverage for small to medium-sized businesses. This packaged coverage is generally less expensive than when purchasing coverage separately. With a BOP you have the ability to customize the policy to meet your individual business needs.
Perhaps you need general liability coverage that includes operations. Or, you need to add business auto coverage or commercial property insurance. Whether you are a home-based business, small service provider, contractor, or Manufacturing business Lions Rock Insurance will work with you to find the right combination of business insurance coverage to meet your specific needs. Contact us today!
Supplemental Coverage Available
Extended liability for additional insureds.
Debris removal, personal property.
Tools and equipment.
Valuable records protection and accounts receivable.
In addition to advising you on the right coverage, we provide additional services, such as:
Loss Prevention Programs – with our insurance company partners, we can evaluate your business’s current conditions and recommend ways to lower property, auto, workers compensation or liability losses. Lower losses will not only lower your insurance costs, but also increase your productivity by avoiding downtime.
Quick Claim Response – when you do have a claim and need fast and fair service, we work with you to make that happen. That’s why we only represent companies with excellent records for settling claims fairly and promptly.
Competitive Rates – many of the insurance companies we represent specialize in insuring specific types of businesses or industries, offering special coverage and pricing.
Commercial Property Insurance
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 man made 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, Lions Rock Insurance Agency 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.
New Jersey – 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 Lions Rock Insurance Agency a call today at 973-315-7539, 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 Lions Rock Insurance Agency 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. Lions Rock Insurance Agency 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.
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. Contact Lions Rock today about a commercial umbrella insurance policy.
New Jersey – WHAT YOU NEED TO KNOW ABOUT COMMERCIAL UMBRELLA INSURANCE
Commercial Umbrella 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, Lions Rock recommends that your business insurance program 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, significant public exposure.
Talk to Lions Rock today about your business operations and we can advise you what kind of liability coverage you need to protect yourself and your company. Just give us a call at 973-315-7539 and we’ll help make sure you’re covered.
General Liability Insurance
Protecting the businesses of New Jersey
General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business.
Coverage typically includes product protection from financial loss should you be liable for property damage or personal and advertising injury caused by your services, business operations or your employees.
Lions Rock recommends that all businesses have general liability coverage in place. Request a quote call us at 973-315-7539.
Additional Liability Coverage
Take a look at the list below for additional liability coverages that you may want to consider.
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. Lions Rock 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, Lions Rock 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 Lions Rock at 973-315-1045 and we’ll help make sure you’re properly covered.
Commercial Auto Insurance
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.
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 Lions Rock today to find out how to get the best commercial auto insurance, service, price and value. Give Lions Rock a call at 973-315-7539.
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.
Lions Rock 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.
New Jersey – FIND OUT WHAT YOU NEED TO KNOW ABOUT WORKERS COMPENSATION INSURANCE
To find out more about this product and other products and services, contact Lions Rock today by calling 973-315-7539.