Business Insurance

Business Insurance: The Basics

You’ve invested the three Es in your business:

your education
expertise
sweet equity.

The company that you built and nurtured provides a livelihood to yourself, your family and your employees

Everyone depends on you, so be sure to do right by them. That means letting us do the right thing by you. Whether you are just starting out in business or have been around for several years, Woodhome Insurance Group is here to serve your critical business insurance needs. We suggest that a fact-gathering conversation be held first so that our highly qualified and experienced insurance agents can first learn about you and your company – really understand it. We know the importance of comprehensive coverage. We’ll fashion a policy or package of policies to insure your business, large or small.

That Means Such Policies As:

commercial auto insurance
commercial property insurance
general liability insurance excess liability (umbrella) insurance
worker’s compensation
bonds insurance
errors & omissions insurance
group benefits
professional liability insurance
property insurance
business owners insurance

Commercial Auto Insurance

Your company vehicles make your business go – literally. So do your employees who drive the vehicles. Of course, you want to protect both your employees and property.
With commercial auto insurance, you protect both.

Woodhome Insurance will tailor a commercial insurance policy to fit your requirements.

We know how expensive it is to insure your company vehicles for your business.

Shopping for auto insurance can be a tedious task. We will quote the top carriers against each other to get the best possible price for your business.

Commercial Property Insurance

Protect your company’s assets, such as:

buildings you own and business personal property (BPP):
the office furniture
computers and inventory that you sell.

Carrying commercial property insurance is the protection you need to minimize your liability. Without it, your business may be down for a long time – and down could mean out.

Woodhome Insurance offers basic policies and special-form coverage, both of which provide insurance to cover particular happenings or damages.

We will provide all the information you’ll need to decide which insurance policy is the best fit for you.

General Liability Insurance

General liability insurance covers most businesses against many:

basic injuries,
property damage – even terrorism.

It protects against:

slipping
tripping
falling on your premises. It also protects your business from lawsuits due to losses from your recurring business operations.

Excess Liability (Umbrella) Insurance

Businesses handling work that carries the possibility of danger and injury Ex:

roofers
electricians
construction, etc

are well advised to purchase excess liability (umbrella) insurance. Umbrella insurance is an excess layer of liability insurance that sits atop your current coverage for general liability, auto insurance and workers compensation in case you have a catastrophic claim. Umbrella insurance gives most business owners peace of mind to know that their businesses’ net worth is protected.

In addition, many of our clients in safer environments, such as offices, want an extra layer of protection – the assurance of coverage, no matter what. They believe that, regardless of what the actuarial tables say, even unlikely occurrences can never be ruled out.
And, in the litigious society we live in, who can blame them? Sometimes, the more protection, the better.
Businesses of all kinds ought to consider whether they have enough liability insurance. Your business owner’s policy may not provide adequate liability coverage for your needs because payment limits are low and will not be sufficient to handle claims and lawsuits.

Woodhome Insurance is here to help you assess the need and risk so that you can reach a decision that is right for you.

Workers Compensation

Accidents happen. When they occur on the job, employers are responsible for the care of those hurt.
Workers compensation insurance is a must. This insurance protects the company from monetary claims made by employees injured on the job.

It covers medical care, disability and partial wages for employees injured on the job, as well as payment to the beneficiaries of someone whose work injury results in death.

With Woodhome Insurance behind you, employees and their families can rest safely at night.

Woodhome Insurance is happy to serve your insurance needs. Please call (410) 580-2800 to set up a free consultation with one of our agents, or fill out our free request form.

Bonds

Government agencies and companies generally issue bonds to finance public-works and other large projects. When purchasing a bond, you, essentially, are lending your money to the agency or company. The bond issuer commits to repaying the loan with interest (usually at a fixed rate) by the bond’s maturation date.

Bonds are rated by their secured or unsecured status, tax status, maturity rating and the issuer’s financial reliability.
Bond issuers purchase bond insurance as protection against possible default.
The insurance’s cost relates to the bond’s rating and to its risk of failure to repay principal and interest to bond purchasers.
Government agencies are highly unlikely to default on their bonds and, therefore, don’t generally purchase bond insurance; companies, however, are well advised to purchase bond insurance.
Woodhome Insurance is where bond issuers turn to help allay potential investors’ concerns over a bond’s reliability.
Woodhome Insurance wants both parties – issuers and investors – to rest easy, secure in the bond transaction.