Business & Commercial Insurance

Business insurance will protect your business after unexpected or unavoidable problems arise. It might protect you when:

• Fires, storms, thefts or vandalism damage your property.
• A client sustains injuries as a result of your mistakes and then sues you.
• Forced closures equal a loss of income.

When damage occurs, you can report a claim to your Ashlie Fortune Insurance agent. They can then review your policy’s terms for limits, deductibles and exclusions to see how it might compensate you. We’ll work with you to evaluate your loss and determine an appropriate settlement.

Small businesses are most likely to benefit from a business owners policy, also known as a BOP. They offer several essential types of commercial insurance in one package. Each will have limits tailored to the needs of small business owners and they will always promise affordability.

BOPs generally contain three types of coverage:

• Property Coverage: Your policy will pay for damage to property — such as buildings, business equipment, computer systems, stock, inventory and other contents of the business.
• General Liability Coverage: When the business is at fault for property damage or bodily injuries to third parties (who are not employees), this coverage can pay for that person’s losses. Policies also offer coverage for products & completed operations liabilities.
• Business Interruption Insurance: After a hazardous event in the business, you might have to temporarily shut down, and this could lead to a loss of income. This coverage can help you recover some of the lost money and pay ongoing expenses in the meantime.

You can also add other coverage into the policy, including:

• Commercial Auto Insurance
• Workers Compensation Insurance
• Errors & Omissions (E&O Coverage)
• Cyber Liability Insurance
• Directors & Officers Coverage
• Machinery Breakdown Coverage

Your agent can work with you to determine how to add this extra coverage into your policy in the most cost-effective ways.

Keep in mind, not all small businesses qualify for BOPs. However, our agents can still help clients build appropriate commercial policy packages better suited to the needs of larger or high-risk businesses.

Depending on how you structure your business insurance portfolio, your policy premiums might vary. If you buy a BOP, then you will only pay one premium for your policy and it will generally be more affordable than if you tried to buy all your coverage separately.

The more risks you pose to your insurer, then the more you might pay for your coverage. However, our agents can help you determine which insurer offers essential coverage at the best cost options for you.

Depending on your industry and operations, you might be required to buy certain commercial insurance. For example:

• Some industries or localities require business owners to buy general liability insurance.
• All businesses that own or operate vehicles will need commercial auto insurance.
• Workers compensation insurance is required of most North Carolina businesses and provides supplementary income support to employees injured on the job.

Our agents are happy to work with you to understand where you face coverage requirements in your business. For more information, you can also check out the North Carolina Department of Insurance’s Commercial Insurance Guide.