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COMMERCIAL INSURANCE

Alabama Insurance Agency & ALCO Insurance understand that as a business owner, you have a number of things about which you have to worry. Your business being exposed to risks shouldn’t be one of them. Our team of experts will take the time to know your specific needs, and tailor coverage to best protect you, your team, and your bottom line. We will go well beyond just offering an insurance policy. We’ll customize your coverage and offer you a wealth of risk management resources that are suited for your business. We’re here to cover and minimize your business’s exposures.

COMMERCIAL INSURANCE SERVICES

If your business is unique, you likely need unique coverage for it. We can leverage multiple alternate markets and options to find you the right solutions for your specific risk management needs. We offer a creative approach that can involve retention groups, captive insurance programs, and/or bonds and securities to allow you to transfer your risk.

It’s not uncommon for a contractor to be required to take out a bond totaling around 10 percent of their bid on a specific project. This bid bond gives the project owner the confidence that once the contractor is awarded the project, he or she will enter into a contract for that project. If you need this guarantee that you’ll complete the work promised in your bid, we can help.

As a business owner, you can use bonds in a variety of situations. The most common use is to guarantee that one party will perform according to the specifications of a certain contract or requirement. Whether you need surety bonds, contract bonds, license and permit bonds, or judicial and probate bonds, we can help.

With this type of coverage, you can protect a building while it is still in the process of being completed, the materials used for its construction, and the contractors, architects, and engineers who work on it. You can also add loss of income, delayed completion, and marketing expense coverage to your policy.

Some businesses own a whole fleet of vehicles. Others only occasionally rent a car or two or even use their own personal vehicles for commercial purposes. Either way, a personal auto insurance policy won’t protect those activities. To protect your staff, your owned or rented vehicle, and your liability on the road, you need a business auto insurance policy.

In the same way homeowners insurance wraps a variety of protections you need in one, your business owners policy bundles coverage for multiple exposures you face. Whether you’re a small or medium-sized business, the policy can be the perfect fit for covering your business property, loss of income, building, and liability.

In our litigious age, all businesses face the risk of a lawsuit. Your commercial general liability policy covers your legal liability for a variety of exposures, including product liability, a non-staff injury on your property, and the risk of hiring independent contractors.

Covering your insurance needs becomes much easier when they’re all neatly packaged together. With a commercial package policy, you cover your liability, crime exposure, equipment, property, and more with a package that can be custom-tailored for your business.

In order to protect your business property, you need this type of coverage. It safeguards your building, equipment, inventory, business records, money, and a number of other risks.

Your commercial umbrella policy can step in if your business is exposed by gaps in its other commercial coverage. It is not to be confused with an excess liability insurance policy, which adds coverage on top of your existing limits.

Contractors have a variety of surety bonds from which to choose. These types of bonds can include performance bonds, bid bonds, license bonds, supply bonds, and payment bonds and are used to give the project owner confidence that the contractor will complete the job and all it requires as promised. These sureties are issued by an insurance company subsidiary that vouches for the contractor and, should he or she not complete the task according to its contract specifications, will reimburse the project owner according to the surety terms.

Because the exposures contractors face are unique, they need uniquely tailored liability coverage. A contractors liability insurance policy can protect you in the building trade.

You can take steps to hire the right people, but you unfortunately can’t control all of the actions of your staff. If you find your business facing theft or embezzlement by employees, a data breach, forgery, theft by a non-employee, or property damage caused during a burglary, your crime insurance can cover the cost.

Commonly known as D&O insurance, this type of coverage makes it possible for your business to put the right people on its board. With D&O coverage, your directors and officers can rest assured that no lawsuit arising from their position in your business will ever compromise their personal assets.

In our litigious age, lawsuits brought by former and current employees are common. Your EPLI policy can cover the cost of suits regarding employment practices issues from discrimination to wrongful termination to sexual harassment and more.

While garagekeepers liability will cover you against most damages that befall vehicles in your custody, you need legal liability coverage to protect you if the damage comes to the car due to your negligence.

When you park, sell, service, or simply store vehicles, you need this liability policy to cover the cost of any damages that befall the cars in your care. It will also protect you against other injuries and damages that occur at your business.

This type of policy covers a variety of exposures, including property being transported on land, construction equipment, scheduled property, property under construction, and more.

As a landlord, you need insurance coverage as unique as the risks you face. Your landlord package insurance can cover rent lost due to a covered cause, your legal liability due to the actions of one of your tenants, or repairmen who don’t have the insurance they should. Not only will your coverage protect you from losses that relate to your rental property, it can also protect your personal assets.

When a license bond is granted, it guarantees that the holder of the bond will stay in compliance with the applicable license requirements and statutes. Consequently, these bonds are useful for contractors, mortgage brokers, and other professionals

If you serve liquor, either regularly at your establishment or at an event, you expose yourself to the right of a lawsuit. These typically result from serving alcohol to an intoxicated individual that may be involved in an altercation causing harm to themselves or others. With liquor liability insurance, your policy can cover any resulting costs.

This policy can cover commercial vessels, personal watercraft, and offshore oil rigs, as well as the cargo they carry and their liability.

Once a contractor is awarded a bid, he or she has the option to guarantee the project to its owner through a performance bond. These bonds can be purchased for up to the full contract amount, ensuring the project owner will be paid out if the contractor does to complete the project according to the contract.

Whether you manufacture, supply, sell, or simply repair a product, you could be held liable for damages and injuries it causes. With product liability insurance, your business can be protected against that expense.

A displeased or disgruntled costumer could sue you for negligence as a professional or not acting in accordance with the services you promised or the standards of your industry. If you do find yourself facing this type of litigation, you will need professional liability insurance—also known as errors and omissions insurance—to protect you.

When you hold an event, you face the possibility of liability claims being brought by your attendees, vendors, or other involved parties. Where your general liability insurance policy ends, your special events insurance can step in.

This type of policy can blend general liability, auto liability, non-owned trailer liability, physical damage, and non-trucking liability coverage to protect your drivers, your trucks, and your entire trucking operation.

Whether your state requires your business to carry workers’ compensation or not, this policy is important for every business. If one of your employees is injured or becomes ill in the course of his or her employment, your policy will pay for medical and rehabilitation expenses and reimburse your employee for lost wages.