SHW Insurance Services :: For Businesses

Today is

3138 Roosevelt Street, Suite L
Carlsbad, CA 92008

888.654.6565 toll-free office
888.641.3922 toll-free fax

www.shwins.com
info@shwins.com

INSURANCE SERVICES FOR BUSINESSES

Whether you are contemplating starting a new business, are a new business owner, or have owned a business for many years, commercial insurance can be one of the most important ongoing financial investments you can make in the life of your company. Operating a business is extremely challenging, without having to worry about suffering significant financial losses due to unforeseen circumstances.

Commercial insurance can protect you from some of the most common losses experienced by business owners such as property damage, business interruption, theft, liability, and worker injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a severe loss or recovering with minimal business interruption and financial impairment to your company’s operations.

SHW agents are fully knowledgeable for all your business needs. We will be happy to discuss with you your business operations and exposures and the possibility of loss that are specific to your business industry and operations.

Please click on a link below for more information on that specific type of business insurance:

Commercial General Liability (CGL)
Business Operating Policy (BOP)
Worker's Compensation
Commercial Auto
Garage Liability Coverage
Errors & Omissions
Inland / Marine Equipment Coverage
Bonds

Commercial General Liability (CGL) - REQUEST A QUOTE

General Liability insurance covers third-party hazards. There are hundreds of programs out there to meet your needs. Programs can range from Premise Only coverage to full Occurrence Products and Completed Operations. Insurance carriers can be A+ rated or specific to builder risk-retention groups. We can find the right program for you depending on your scope of operations, your needs for certificates, the needs of your business partners, and your budget.

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Business Operating Policy (BOP) - REQUEST A QUOTE

BOP’s are a very general form of liability insurance for certain businesses. These are generally package policies that may include coverage for manufacturing, distribution, and installation. BOP’s can vary in price depending on operations and gross receipts. Click on any of the links below to learn more about an Operating Policy for that specific business type:

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Workers' Compensation REQUEST A QUOTE

Workers Compensation is a state-mandated requirement for all business owners who hire employees. It is a form of insurance that provides compensation and medical care for employees who are injured on the job. Although it is not required for owner-only businesses, it is important for the owners to make sure that their individual health care plan will provide coverage if they are injured on the job. SHW Insurance agents will research many markets to make sure that you are provided with the lowest premiums for your business.

Commercial Auto REQUEST A QUOTE

Commercial Vehicle Insurance is needed to cover the cars, trucks, and vans used in conducting your business. Large fleets as well as small businesses should be properly covered by a commercial auto policy. In general, if a vehicle is used in tasks related to the operator’s occupation, profession, or business—other than commuting—a commercial policy is necessary.

Garage Liability Coverage REQUEST A QUOTE

Businesses that sell, service, repair, park, or store automobiles will need to Garage Liability Coverage to cover risks that would not be covered under a business auto policy alone. Auto, truck, motorcycle, and mobile-home dealers, repair facilities, service stations, car washes, and parking facilities need to have garage liability coverage. This insurance policy provides coverage for loss or damage to customer's automobiles. Dealer’s physical damage can insure vehicles in stock for the perils of collision, fire, and theft.

Errors and Omissions REQUEST A QUOTE

Liability insurance for professionals is different than that needed for contractors. A professional such as an engineer, architect, insurance agent, real estate agent, etc. will need to have coverage to protect any error or omissions they may make. This mistake can cause financial harm to another and can occur on almost any transaction in any profession. An E&O policy will help protect a professional individual or a company from bearing the full cost of defense for lawsuits relating to an error or omission.

Inland / Marine Equipment Coverage REQUEST A QUOTE

Inland Marine Equipment Coverage is a broad form of insurance that would include coverage for construction equipment & machinery such as backhoes, cranes, scaffolding, etc. This type of coverage is generally bundled into a package that may include CGL, COC, and Commercial Auto.

Bonds REQUEST A QUOTE

Surety bonds guarantee that specific obligations will be fulfilled, such as meeting a contractual commitment, paying a debt, or performing certain duties. Usually, a bond is written for a definite amount, which is known as the bond penalty.

Each bond is a written contract between three parties. Two of the parties obligate themselves to meet a commitment to the third party. If the commitment is not met, a sum of money, up to but not exceeding the full penalty, becomes payable as damages. On every bond, the parties are the principal, an obligee and a guarantor or surety. The "Principal" is the party who has agreed to fulfill the obligation, which is the subject of the bond. The "Obligee" is the party for whose benefit the bond is written. If the Principal defaults on the obligation, damages are payable to the Obligee. The "Guarantor or surety" is the company providing the bond for a fee. The surety joins with the principal in guaranteeing fulfillment of the obligation, and agrees to pay damages if the principal defaults.

There are many different types of bonds, as follows:

·         License and Permit Bonds
Many local, state, and federal laws require that a bond be furnished before someone can obtain a license or permit to engage in a particular activity. The bonds are designed to guarantee that laws and regulations of a particular business or activity are followed.

·         Contract Bonds
Contract bonds are issued to guarantee performance of the terms and provisions of written contracts. The principals on these are usually construction contractors.

·         Performance Bonds
A performance bond guarantees the owner (obligee) that the contractor (principal) will complete the original contract as drawn. If the contractor fails to complete the work, the surety may at its own expense engage another contractor to complete the work.

·         Financial Guarantee Bonds
These guarantee payment of money. A strong financial statement in relation to the penalty of the bond is required.

·         Payment Bonds
Payment bonds, which are also known as "Labor and material bonds," guarantee that a principal will complete and deliver the work free and clear of liens or encumbrances.

·         Supply bonds
A supply bond will guarantee that a supplier will faithfully furnish supplies, materials, finished products, or equipment according to the terms of a supply contract.