Business Insurance

We know how hard you work to cultivate and maintain your business. We also know there are risks you face every day that threaten what you've built. We put that knowledge to work by offering products and liability coverage to soundly protect you and your business.

What does a businessowners policy cover?

Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package. (They also sell coverages separately.) One package purchased by small and mid-sized businesses is the businessowners policy (BOP). Package policies are created for businesses that generally face the same kind and degree of risk. Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face.

BOPs include:

  Property insurance for buildings and contents owned by the company -- there are two different forms, standard

and special, which provides more comprehensive coverage.

  Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe

that disrupts the operation of the business. It can also include the extra expense of operating out of

a temporary location.

  Liability protection, which covers your company's legal responsibility for the harm it may cause to others.

This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.

BOPs do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You'll need separate insurance policies to cover professional services, vehicles and your employees.

Commercial Automobile Insurance

As a businessowner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel -- liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the "principal insured" rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.

Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.

While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask your insurance agent to explain all the differences and options.

If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.

Workers' Compensation Insurance

Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.

To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.

Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitiation services. It also provides death benefits to surviving spouses and dependents.

Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.

Workers compensation insurance must be bought as a separate policy. Although in-home business and businessowners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.

Share

 © 1998 - Present  »  Dyeco Insurance Services, Inc.  »  All Rights Reserved  »  Effective:

(804) 21INSUR  »  (804) 675-4300  »  Fax (804) 675-4302  »  service@dyecoins.com

Physical Address: 221 Ruthers Road, Suite 201 » Richmond, VA 23235

Effective July 1, 2009: In compliance with the United States Privacy Act of 1974, 5 U.S.C. § 552a, Dyeco Insurance Services, Inc. (Dyeco) will verify three of the following five pieces of information prior to releasing any statements, documents, personal information, and/or policy information. The release of such information to any party other than Dyeco’s client is prohibited. The client shall grant a third party temporary or permanent access to such information with a signed written request faxed, scanned, or mailed to Dyeco. Verification Information Used: Last four digits of Client’s Social Security Number (SSN) or Federal Tax Identification Number (FEIN), Client’s Date of Birth, Client’s Telephone Numbers on File, Mailing and/or Physical Address, How Many Policies Client holds with Dyeco.

The information published on Dyeco Insurance Services Incorporated’s (Dyeco) web site does not warrant or provide insurance coverage by any means. This web site is not binding and has no legal authority over insurance, company bylaws, claims, payments, quotes, applications, or online forms. Dyeco does not guarantee any illustrations displayed on its web site. Information entered and collected by User input on the web site releases and holds Dyeco harmless from any error and/or omissions should the information be used for the User to purchase insurance and/or make changes to the User’s current and/or past policy (ies) serviced by Dyeco.

Please Note: Except as provided by your current insurance policy no coverage is bound until requested in writing and confirmed by an authorized agent.

Statements published on this web site should be interpreted for informational purposes only and does not legally obligate Dyeco to any statement posted. This web site does not represent any consultation for insurance.

External links and web sites not associated with Dyeco provide their own privacy and disclaimer notices, which you are subject to reading and understanding prior to interacting with that association’s web site. Dyeco is not responsible for the content, statements, and literature contained on those associations’ web sites and does not guarantee its business relationship with those associations.

© Facebook| Facebook is a registered trademark of Facebook, Inc. | © Twitter | Twitter is a registered trademark.
© 1998 - Present | All Subsidiary Domain Names: www.dyecoins.com, www.dyecoinsurance.com, www.dyecoinsurance.net, www.dyecoinsuranceservices.com,  www.dyecoinsuranceservices.net, www.dyecoinsuranceservicesinc.com, www.dyecoinsuranceservicesinc.net, www.dyeco.biz.