Insurance for your Business

 

Business Auto

What would happen if your business vehicle was stolen? What if an employee is injured while driving the company car?

Whether you have one or two vehicles or an entire fleet of vehicles, Farmers offers Business Auto to protect your business assets, including your vehicles. Business auto coverage usually includes both comprehensive and liability coverage to protect your vehicle against damages and to protect your business against liability losses.

Most importantly, can your business afford losses if an unexpected event occurs? Contact me for more information on getting peace of mind today.

Business-Life Insurance

As a business owner, you spend many hours working and developing your business. But have you thought about what would happen to your business should you or your partner become disabled or die?

To preserve the future of your business, it is important that you create a business continuation plan. Such plans often include a "buy-sell" agreement. A buy-sell agreement, funded by Life Insurance and written while the owners are alive, ensures that your heirs can sell their share of the business to surviving owners - and that the surviving owners can buy their share. Each owner also agrees not to sell their interests without first offering it to the remaining owners at an agreed-upon price or formula. Contact me to learn more about protecting your business.

Crime

Wouldn't it be wonderful if you could trust everyone? Unfortunately, not everyone is worthy and sometimes those dishonest people can end up taking advantage of you and your business.

Crime coverage protects business owners and their businesses against damages caused by acts of dishonesty. It also protects your business from theft, robbery, and burglary.

From theft of personal property to employee dishonesty, depositor's forgery and broad form money and securities coverage, Farmers offers your business the protection it needs.

 

General Liability

 

Most businesses don't just happen. They develop from the blood, sweat, and tears of the owner that brings his/her ideas into fruition. Sadly, and accident or error could erase all your hard work in an instant.

That's why Farmers offers General Liability Coverage, to protect business owners from losing everything they have. It provides protection for premises, products, contractual, personal and advertising injury, as well as many other liability exposures. We live in a lawsuit happy society, which is why it is more important than ever to have Business Insurance.

For all the effort, time, and money that have gone into your business, it's well worth the investment in liability protection. Contact me today to make sure that your business has adequate coverage.

 

Partnership Life Insurance

 

Many businesses are created as a partnership but what happens if one of the partners in the partnership becomes unable to fulfill their obligation due to a long-term injury or illness. Even worse yet, what if one of the partners dies? Partnership Life Insurance is designed to help make sure that your business survives the loss of a partner.

To preserve the business, many partnerships have a buy-sell agreement, as part of the Partnership Life Insurance Policy. This fixes both the price and terms of the sale in the event a surviving partner buys out a deceased partner's interest.

Partnership Life Insurance also clarifies what happens, such as transferring ownership, selling to a beneficiary, etc., if one or both partners die. Farmers Partnership Life Insurance can provide the necessary funds no matter when a partner's death occurs.

Make sure that your business partnership is secure in the event of loss. Contact me today to review your current Business Insurance needs or for more information on Business Insurance.

 

Property

 

The bricks and mortar are covered but what about everything else? What about your office furniture or your computers? Can you afford to start your business from scratch if you have to?

Business Property Insurance is designed to customize property coverages to meet your individual needs including: buildings, business property, business continuation, and tools and equipment. It's designed to protect you property, including equipment and tools that are crucial to your businesses day-to-day functions. It also helps to "get you back to where you belong" by providing the funds to replace everything you need to continue business operations.

As a business owner, you may decide that it's better to rent property than to own. Regardless, it is still equally important to make sure that all of your valuables are insured. Contact me for more information on Business Property Insurance.

 

Small Business Workers' Compensation Insurance

The underlying strategy of our Workers'' Compensation program is to establish a partnership among the four participants: the injured employee, the employer, the medical provider and Farmers. Our goal is to deliver the correct benefits quickly and efficiently at a fair cost.

 

Farmers Care, our complete medical and disability management program is designed to help control your Workers'' Compensation premiums.

 

Customer Care consists of:

• Preferred Provider Organization-We have an extensive network of industrial clinics, physician specialists and hospitals committed to giving excellent treatment as well as managing costs.
• Utilization Management--Our nurses, under the supervision of medical doctors, review treatment plans using the latest in computerized medical guidelines. They also verify the necessity of hospital admissions and lengths of stay.
• Early Return-to-Work Programs-Early return-to-work is a major factor in cost savings. Bringing employees back to work as soon as medically feasible saves substantial sums in temporary disability payments and retraining costs.
• Early Return-to-Work Programs-Early return-to-work is a major factor in cost savings. Bringing employees back to work as soon as medically feasible saves substantial sums in temporary disability payments and retraining costs.
• Bill Review -We review every bill to check pricing, appropriateness of the treatment and the billing overlap. This saves millions of dollars each year in unnecessary charges.

Loss Control Services - Our loss control programs can assist you in reducing the frequency and cost of injuries. We also offer posters, videos, and brochures to reinforce Workers'' Compensation safety programs, raise employee awareness, and meet legal requirements.

 

Fraud Control - Our claims representatives are trained to identify and react when they see "red flags,”which indicate a claim needs further investigation.

 

Classification Review - We''ll review your individual classifications and operations to make sure payroll, sales, and other variables are correctly classified and you are charged the correct premium.

 

Premium Audit Service - Our auditors will help you understand premium classifications as well as forecasting future premium costs. They also assist in making sure your premium is calculated at the correct rate.

 

Claims specialists - Specialized claims representatives handle only Workers' Compensation claims. They review medical expenses, initiate early return-to-work programs, facilitate rehabilitations and manage legal costs.

 

Same-Day 4-Point Contact - On the day the claim is received, our claims representatives are committed to achieving same-day contact with the employee, employer, medical provider and agent. This insures that benefits begin as soon as possible and that questionable claims are investigated early in the process.

 

Sole Proprietorship Life Insurance

 

What happens to your business if you die? What happens to any debt that your business has accrued if you die? As it's only owner or, sole proprietor, the law makes no distinction between your personal assets/debt and your business assets/debts. This is incredibly important information to know when planning your Business Insurance needs. Should something happen to you, all of your business debt is transferred to your state and its heirs.

 

Sole Proprietorship Life Insurance is insurance for transferring your business to a successor, in which case Life Insurance purchased by your heirs can provide funds to pay estate taxes and help sustain the business during the initial period of new management. Or, if your employees are interested in carrying on your business, a buy-sell agreement can be funded with Life Insurance to assure that your family will receive the optimum value for the business.

 

If you are a sole proprietor or single owner of a business, contact me today for more coverage information.

Stockholder Life Insurance

We recommend that you use Life Insurance to create a pre-death buy-sell agreement certifying that if a stockholder should die, the remaining stockholders can purchase his/her shares at a fixed price. This will guarantee that heirs will receive cash for their inherited business interest and that surviving stockholders will maintain control of the business.

Surety Bond Program

Consideration can be given to underwrite almost any type of bond required. Many Farmers agents have authority to execute bonds right on the spot.

 

A bond covers the fulfillment of an obligation. The obligations can range from performance of a contract to following laws related to an operating license. Other obligations include paying taxes or lease fees, supplying goods, paying a court judgment, performing duties as a public official, etc.

 

We are ready to provide the backing needed to meet your business or personal bond needs. Contact me today to learn more.