Protect the business you built.
Bloom Realty & Insurance, Inc. offers a wide range of coverages to suit your commercial needs. Business insurance includes a broad range of policy options designed to protect businesses from financial loss. Every commercial operation has its own unique set of risks, which means a commercial insurance policy must be tailored to the business.
Many factors, from the size of your company, to the number of workers you employ, the materials they handle, and whether you have business vehicles, will determine the specific coverage you need to mitigate risk and protect your company’s financials.
Many business owners find that they must utilize a number of different insurance companies to get all of the coverage needed to provide proper protection. If you work with one of our independent agent , they will tailor your business policy toward your specific needs.
Depending on the nature of your business and any insurance that you are legally obligated to carry, the following types of business insurance should be considered essential:
Coverage against accidents, injuries and negligence claims. This is known as business liability insurance and commercial general liability insurance. This policy will protect you and your business from claims of bodily injury and property damage. These kinds of claims can come up during normal business operations. Four out of 10 small business owners are likely to experience a property or general liability claim in the next 10 years. Claims range from unexpected incidents, like a burglary, to unforeseen accidents, such as a customer getting injured after slipping and falling.
Coverage against product defects.
Professional liability insurance also called E&O (Errors & Omissions): Covers professionals against malpractice, negligence or errors. It helps protect you from lawsuits claiming you made a mistake in your professional services. This insurance can help cover your court costs or settlements, which can be very costly for your business to pay on its own.
Without errors and omissions insurance, the cost of claims can be so expensive that they could put your business at risk of closing. Even if your customer drops their claim, your legal expenses could still be thousands of dollars. Not to mention, if you’re at fault or agree to settle the claim out of court, you can expect to pay a large amount out of pocket. That’s why it’s important to protect your business with E&O insurance
Covers against damage to your business property, such as fire, wind, hail, smoke, vandalism, riot, civil comoition are are all very important coverages in our current social enviroment. These are especially important, since many small businesses and startups lack the cash to replace what’s needed to keep a business running. Property insurance helps cover the damage or loss of your property, like structures or buildings, and items including equipment, furniture, inventory, supplies and fixtures. It can also help cover the costs to repair or replace stolen, damaged or destroyed property, including property and equipment that isn’t yours but is in your care and custody.
Protects your business if you are no longer able to conduct your business because of a covered loss.
Some businesses need specialty coverage for equipment, shipping and other risks. In order for your business insurance to cover flood damage, your company must carry a separate flood insurance policy or endorsement. A typical commercial property insurance policy covers specific water damage situations but excludes flooding.
The wording and water damage exclusions vary from one insurance company to another. Be sure to review your policy carefully and discuss your specific risks and concerns with one of our independent insurance agents who can help you get the coverage you need.
Commercial insurance needs to be tailored to each business based on risks, it is critical to work with an agent, who will get to know your company and ensure that your coverage adequately protects your business investment.
3542 Atlantic Ave, Atlantic City, NJ 08401