Business Insurance

Business property insurance, either purchased separately or in combination with liability coverage as part of a business owner policy, can cover such assets as:

• Building
• Business personal property
• Computers
• Furniture and fixtures
• Inventory
• Equipment
• Raw materials
• Finished goods

Of course, your business may require that you have on premise specialty items that do not fit in any of the above categories. Virtually any tangible asset can be insured that are located at your place of business…or even anywhere in the world.

Business liability insurance can also be purchased separately or as part of a Business Owner Policy. Liability insurance is designed to provide protection against loss should you become liable for injuries to someone or damage to someone’s property.

Other coverages available through a BOP include:

Loss of Income

If you suffer a covered loss and you find your income suffers as a result, this coverage will make up the difference. Often times the actual loss you sustain not to exceed 1 year.

Data Breach

This coverage gives you access to professionals who can advise you of regulatory requirements, guide you on how to prevent a data breach loss, and handle a date breach crisis should one occur

Employment Practices Liability Insurance (EPLI)

EPLI provides protection from employment related claims such as:

• Discrimination – race, sex, age, etc.
• Wrongful discipline
• Retaliation
• Harassment
• Violation of the Family Medical Leave Act
• Failure to promote
• Wrongful termination
• Employee Dishonesty

Other Available Business Coverages

• Computers and Media
• Debris Removal
• Personal Property of Others
• Temperature Change
• Outdoor Signs
• Valuable Papers & Records
• Money & Securities
• Water Backup
• Additional Insureds
• Employee Benefits Liability
• Equipment Breakdown
• Identity Recovery
• Brands and Labels
• Claim Expenses
• Computer Fraud
• Employee Dishonesty (including ERISA)
• Fine Arts
• Forgery
• Laptop Computers- Worldwide Coverage
• Off Premises Utility Services – Direct Damage
• Outdoor Signs
• Pairs or Sets
• Property at Other Premises
• Salespersons’ Samples
• Sewer and Drain Back Up
• Sump Overflow or Sump Pump Failure
• Tenant Building and Business Personal Property
• Coverage-Required by Lease
• Transit Property in the Care of Carriers for Hire
• Unauthorized Business Card Use

Vehicle insurance for your business deserves to be a high priority protection. That’s just what Fingar Insurance offers. We can provide business vehicle insurance coverage for you and your employees for the vehicles you own, lease, rent or borrow – on the road and off. More importantly, vehicle insurance can help prevent an accident from damaging your bottom line.

Whether you’re operating a single vehicle or a fleet, Fingar Insurance offers you ways to help protect your company, manage risks and help control your costs.

An automotive mishap can expose your business to complex high exposure, putting its assets at risk. Without the right commercial vehicle insurance coverage, you as the business owner may even find yourself personally responsible.

Meanwhile, the loss of cars, vans, trucks or specialty vehicles can hamper your ability to operate your business, threaten hard-won customers and hurt business relationships.

Accidents can damage your reputation, and put in question your concern for employee and public safety. So, don’t let a split-second bout of bad luck put a business that took years to build in jeopardy.

Understanding your auto insurance

The more you understand your auto insurance policy, the better we can work together to protect you. Following are some of the most commonly used terms. For a complete explanation of these and other insurance terms and coverages, you should always consult your agent.

Bodily injury liability coverage
Pays claims against you, including the cost of your legal defense, resulting from injuries to other persons in an automobile accident for which you are legally liable.

Collision insurance
Optional coverage that reimburses you for damage to your vehicle resulting from overturning or from colliding with another object, including another vehicle, regardless of who is at fault.

Comprehensive insurance
Reimburses you for damage to your vehicle from causes other than a collision or overturning, including hail, flood, theft, fire, glass breakage, falling objects, explosions, earthquakes, windstorms, vandalism or malicious mischief, riot or civil commotion, and collision with a bird or animal.

Deductible
The portion of an insured loss you pay before the insurance company starts picking up the bill.

Liability insurance
Pays claims against you as well as your legal defense costs when you are legally responsible for an accident in which you have injured another person or damaged his or her property.

No-Fault auto insurance/personal injury protection (PIP)
Coverage through which the financial losses you, your passengers or a pedestrian sustain from an auto accident, such as medical and hospital costs and lost income, are paid by your insurance company regardless of who is at fault.

Property damage
Pays for claims for your financial loss if you are found liable for physical damages to tangible property belonging to a third party.

Supplementary uninsured/underinsured motorist coverage (SUM)
Uninsured motorist coverage pays for injuries sustained by you and your passengers caused by an uninsured motorist or a hit-and-run driver. Underinsured motorist coverage pays when you or your passengers are injured as a result of negligence by someone with insufficient liability insurance to cover your losses.

Hired and non-owned auto liability and physical damage

Provides liability and physical damage coverage for vehicles your company does not own.  For instance an employee may use their car to run an errand and causes bodily injury or property damage to someone or something.  Your company is sued and without the Hired and non-owned auto liability coverage, there would be no coverage.

Also, you may rent a car while on a business trip or while a vehicle is out of service.  Same scenario but this time you have damage to the hired car as well.  If you have hired physical damage coverage, the insurer will pay for damages to the car.

Available limits

Fingar Insurance has been providing insurance protection to governmental subdivisions, Municipalities and Fire Districts, for over 50 years. We have extensive knowledge in providing proper insurance protection for Municipal General Liability, Insuring municipal assets such as Town Halls, Parks and other owned property, Town Boards, Planning Boards, Zoning Boards, ZBA’s, Police Professional, Public Officials, Taxing Districts such as Water and Sewer.

In addition we are experienced in providing municipal fiduciary bonding, Catastrophe Liability, Auto Liability including physical damage for municipal vehicles on a replacement cost basis, when available or on an actual cash value basis. We also put a great deal of emphasis assuring property values are kept up to date including, but not limited to Buildings, Highway Equipment and Vehicles.

We attend all Town Board meetings, both regular and special we are asked to and make our selves available 24/7 to assure your insurance questions, concerns and claims receive the dedication they deserve.

Contractor’s insurance covers you for bodily injury and or property damage you may be liable for as a result of your work.  It does not cover you for:

• Your faulty workmanship – you paint the house green vs. the requested yellow
• Employment-related practices liability – this may be able to be added
• Employee injury – this requires a Workers Compensation policy
• Tools and equipment (owned and rented) – this can be added for an additional fee
• Building materials – this can be added for an additional fee
• Additional insureds – sometimes this is included, sometimes it must be added
• Completed operations – covers you in the event your work causes injury or property damage after you have finished the job

Liability limits

Here is an example of what the limits of liability might look like on a contractor’s liability policy.

1. $2,000,000 General aggregate – the most the company will pay in a policy period
2. $1,000,000 Products/completed operations aggregate – specific aggregate
3. $1,000,000 Per occurrence limit
4. $1,000,000 Personal/advertising limit
5. $100,000 Damages to premises rented to you
6. $5,000 Medical payments

General aggregate limit
The maximum amount your policy will pay for all claims within your policy period (bodily injury and property damage from on-going operations, personal and advertising injury, damages to premises rented to you, and medical payments). This limit doesn’t apply for claims from products and completed operations.

Products and completed operations aggregate limit
Products and completed operations aggregate has its own separate aggregate limit and has its own maximum specified dollar amount that will be paid out for a bodily injury or property damage claims resulting from your products and completed operations.

Personal and advertising injury limit
The maximum amount that will be paid out per occurrence arising from personal injury (slander, defamation of character, etc.) or advertising injury.

Per occurrence limit
The maximum amount your policy will pay out per occurrence for bodily injury and property damage to a third party.  Per occurrence does not mean per claim, as you may have multiple claims as a result of one occurrence.

Damage to premises rented to you
The maximum specified dollar amount your policy will pay out in the event of damage to rented premises for any one fire. This could also apply to a premise that is in your “care, custody and control”.  For instance, you take possession of the keys to a new home to install the electrical wiring and the house is damaged as a result.

Medical payments
The maximum amount that will be paid out to any one person for bodily injury regardless of who is at fault for the accident. Often referred to as a “good-will” payment, this coverage allows you to voluntary offer to pay for a person’s medical bills regardless if you are at fault or not.