An Intro to Commercial Insurance

In Central Ohio, Insuran LLC serves a variety of businesses that run the gamut from doctors and lawyers to restaurants and retail outlets. Each type of business needs a different insurance policy set. While the insurance industry refers to the insurance a business carries as commercial insurance, that actually encompasses more than 20 policy types.

Custom Commercial Policies

All commercial insurance entails a custom quote because no two businesses need exactly the same insurance. A doctor needs malpractice, while a retail store needs glass insurance. The one thing that all businesses have in common is a need for a business owner’s policy (BOP).

BOP Policies as a Foundation

Every business purchases a BOP because it packages the four most common types of insurance needed in one package for a reduced premium. Your business gets coverage for property damage, liability, named perils, and your business equipment. Some BOPs also throw in business interruption insurance, although most BOPs require this as an add-on.

You can add coverage to the BOP foundation. For example, a ballet studio would add glass insurance to protect the cost of replacing the many mirrors in the studio. A doctor who makes medical devices would carry errors and omissions insurance in addition to the BOP.

Each type of business needs a different set of policies and a different percentage with different levels of coverage. It takes consultation with an insurance agent to determine which of the 20 types of insurance your business needs.

Contact Insuran LLC serving Central Ohio for more information and to set up an appointment for a meeting with one of our insurance agents. We can help you build the custom policy you need for your commercial business.

An Introduction to Home Insurance Types

Insuring your Central Ohio home should be easy, so Insuran LLC made this quick guide to home insurance. That broad term encompasses homeowners’ insurance, plus condo, RV, and renter’s insurance. Within homeowners’ insurance, you can choose from four different levels of coverage – dwelling, standard, all-peril, and historical home.

While the other types remain self-explanatory, homeowners’ insurance requires a bit of explanation. The four levels of coverage apply only to houses. (If you buy a condo, you get condo coverage, also the type you buy for an apartment you purchase.) The four house types differ in coverage levels, mostly with respect to perils.

Dwelling: A homeowner who has previously filed many insurance claims or an older home in disrepair requires dwelling insurance, which covers only ten perils and liability plus personal property damage.

Standard: The typical policy purchased by most homeowners covers 16 named perils, liability, and personal property damage.

All-peril: Think of this as an enhanced form of standard coverage. It has no limits to the perils it covers. It also covers liability and personal property damage. Some policies also include medical coverage and living expenses if damage to your home precludes you from living in it while it undergoes repairs.

Historical: An owner of a home on the historical register or with architectural significance purchases historical home insurance (HO-8). This insurance covers many perils but not all of them, including liability and personal property damage.

Contact Central Ohio’s Insuran LLC to learn more about your options for home insurance. You can easily insure your home whether you buy a condo or a mansion, a tiny house, or an RV. Let Insuran LLC help.