Proudly Serving the Greater Delaware Area for Generations!
Serving Delaware, Lewis Center, Sunbury, Powell Ohio
When you’re in business for yourself, you’re watching profits. You’re watching cash flow. But are you watching out for perhaps the most important thing of all-the unexpected? Hilborn Insurance Services is in the business of guarding your company against the unexpected. We offer a wide range of protection including business auto, general liability and commercial property insurance. Hilborn Insurance covers it all – for companies big or small. Quit wasting your valuable time worrying and start doing what you do best – making money! You get what you pay for. Just like the products and services you offer, our insurance plans are a cut above the others. Because we’re an Independent Insurance Agent, we can find the best program for your type of business. You won’t have to pay for protection you simply won’t use. And Hilborn Insurance can offer plans that are able to grow with you, so you won’t be underinsured and left to deal with it on your own. Let Hilborn Insurance be your partner!
What type of insurance coverage do I need for my business?
What Business Liability Coverage Do I Need?
Every business is exposed to different liability risks which Business General Liability (CGL) policies try to cover. The following common risks can be insured against under the commercial general liability coverage:
- Premises and Operations Exposure refers to the liability risk that could arise out of the business operations, or occur at the business location of the insured.
- Product Operations Exposure is the risk pertinent to businesses that are involved in the manufacture, distribution, wholesale or retail of products. If the products are found to be faulty by design or defective, businesses could be made to pay huge settlement amounts.
- Contingent Liability Exposure refers to the risk of a business owner to be held liable for the errors of others such as contractors and employees.
There are, of course, many other liability risks a business is exposed to, such as pollution liability, liability for occupational injuries to employees, contract liability, commercial auto liability, aircraft liability, and watercraft liability. These liability risks are typically specifically excluded from a business general liability policy. There are special types of insurance you can purchase if you wish to be covered against these exposures.
What Kind of General Liability Insurance Does My Business Need?
A Commercial General Liability policy consists of three basic coverages which may be offered on an occurrence or claims-made basis:
- Coverage A – Bodily Injury and Property Damage Liability pays on behalf of the insured any legal damages the insured might owe a third party for causing them bodily injury or property damage as a result of the business activities of the insured. Under Coverage A, the insurer is also obligated to provide the insured defense in the event of a liability lawsuit.
- Coverage C – Medical Payments come into force when a third party suffers from bodily injury on the commercial premises of the insured. Coverage C pays the medical expenses of the injured party, regardless of whether the insured is guilty or not.
All these coverages of a business general liability policy have a lot of exclusions, and there are a number of supplementary payments that are available under Coverages A.