Serving the Penn-Ohio area
All businesses require General Liability insurance and nearly all require Property insurance. These coverages are often combined in a Commercial Package Policy. One variety of package policy is called a Business Owner's Policy.
What is termed General Liability insurance protects you for your legal liability for injury or damage caused by your negligence, and that arises out of your premises, your operations, products you sell or work you have already done. The premium will vary based on annual sales, payroll, floor area, or some other factor that best measures the level of activity for your business classification.
The policy will pay any judgment for which you are legally liable, up to the policy limit. Legal defense costs are also paid (usually) in addition to your liability limits, even when there has been no wrongdoing.
For Property, if you own a building, that, of course, would need to be insured; likewise, any contents (termed “business personal property”). Settlement may either be on the basis of replacement cost or “actual cash value” (depreciated value). The premium is based on the type of occupants in the building, the type of construction, hydrant or sprinkler protection, and the values involved.
Another type of property coverage is Business Interruption. Should you suffer loss or damage to your premises, you would be faced not only with a bill for repair or replacement, but lost profits until you can reopen. We can help you figure the proper amount to carry.
Like any insurance policy, you may have various exposures that are limited in a basic policy. For example, basic limits of coverage on money, employee dishonesty, outdoor signs, property that is in transit or that goes off-premises, may not be enough for your situation. We will make sure to identify and properly cover the needs of your particular business.
Mehler Insurance has been proudly serving the residents of Sharpsville since 1925.
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If your business owns vehicles, the insurance is not all that much different than with personal auto insurance: Liability, Uninsured and Underinsured Motorists, First Party Benefits (PA) or Medical Payments (OH) are written, along with Comprehensive or Collision coverage, if needed. Pricing will be based on the type of vehicle, its usage, the distance it will normally travel, and the driving records of your drivers.
Unlike a personal auto policy though, a business policy does not automatically provide coverage for vehicles you rent or borrow (“Hired Autos”). Moreover, your firm can also be held responsible for an employee who has an accident in his own vehicle if he’s on the clock (“Non-Owned Autos”). These two coverages can be added to a business auto policy — or even to a general liability policy if you own no vehicles.
The law holds an employer responsible for on-the-job injuries to his employees, regardless of the fault of the employer. This responsibility is for both unlimited medical expenses as well as for lost-wages at levels set by statute. (The trade-off is the employee, in nearly all cases, must accept these benefits and cannot sue you for pain-and-suffering or other additional amounts.) Employers’ Liability is written as an adjunct to cover those relatively rare instances where an employee is permitted to step outside the workers’ compensation system and sue his employer.
Some businesses involve services such as giving advice, making recommendations, designing things, providing physical care or representing the needs of others, which can lead to being sued by customers, clients or patients claiming that the business’s failure to perform a job properly has injured them. Such insurance is termed Professional Liability for certain types of businesses or Errors & Omissions for others. Note that this insurance would be in addition to General Liability insurance carried since professional liability exposures are typically either excluded by or outside the scope of General Liability insurance policies.
Excess or Umbrella Liability insurance provides liability limits (starting at $1,000,000) in excess of the liability coverage provided by the basic General Liability and any Automobile Liability policies carried by your business. It does not replace your basic policies, and typically requires that you carry at least $1,000,000 limits on those policies. It can also be written in excess of the Employers’ Liability section of your Workers’ Compensation policy, as well as any Professional Liability policy you have. Strictly speaking, Excess Liability policies provide just additional limits to the coverage provided by your basic policies, while Umbrella policies do that plus extend coverage beyond your basic policies.
All businesses should consider the higher limits provided by an umbrella policy—but especially contractors working at high-valued properties, manufacturers, owners of premises where the public congregates, as well as sole proprietors who don’t have the benefit of a “corporate shield”.
Bonds are divided into two broad categories: Fidelity and Surety. The coverage provided by Fidelity Bonds overlaps with what is termed Employee Dishonesty insurance. Except for some special purpose bonds—such as bonding of retirement plan trustees as required by ERISA, or those insuring against theft of customers’ property by janitorial and other service contractors—most Employee Dishonesty (i.e., embezzlement) coverage is written under Commercial Package policies.
Surety bonds, on the other hand, are guarantees that you will fulfill an existing obligation to a third party. Here is a fuller discussion of Surety Bonding.
We have an expertise in insuring a full range of businesses—from the one-person start-ups to firms and institutions with sales and budgets in the millions. Among the types of businesses we successfully insure are:
Restaurants & Taverns
Business & Personal Services
Trucking & transportation
Auto Dealers & Repair Garages