Category: Commercial Insurance

At Gill Insurance Agency, we provide insurance policies for many Plainfield, IN businesses. Unfortunately, however, many of our customers make the following coverage mistakes that impact their bottom line.

Mistake One – Picking the Cheapest Policy 

When you’re covering your business, you shouldn’t skimp out on your insurance policy. Yes, it might save you $1,000 a year if you get a policy that is $100 less per month than a better coverage option. However, you might find yourself with lapses in your policy that cause serious financial troubles. 

Mistake Two – Underinsuring Yourself 

This mistake is often connected to the first but may be separate in some circumstances. For example, you might get a high-value policy to find that it isn’t suitable for your business needs. You may need to upgrade to a more comprehensive policy designed for larger companies like yours. 

Mistake Three – Buying Too Much Insurance 

While it might seem tempting to insure your company for more than it is worth, your policy will never pay more than that. So, if you get insurance for $1 million and your company is only worth $250,000, you might be surprised to find that you won’t get that $1 million. 

Mistake Four – Not Understanding Your Insurance Options 

Insurance companies often provide various commercial options that help cover you and ensure that you are safe. For example, a Business Owners Policy can cover things like your property, liability, and interruption coverage. That kind of protection is critical. 

Speak With Your Agent Today 

If you want commercial insurance from Gill Insurance Agency to protect your Plainfield, IN business, please don’t hesitate to contact us right away to learn more. Our team will help you better understand your policies and give you the insight that you need.

A business owner’s policy (BOP) refers to the commercial insurance that includes the four most typical policies available. It saves the business owner money by providing these four policies at a reduced rate. You can obtain this type of policy from Gill Insurance Agency of Plainfield, IN to protect your business.

The typical BOP includes liability, named perils, property damage, and business interruption coverages. Like other insurance policies, you can add other coverage to the BOP. This means if you own a dry cleaning business, you can add your inland marine policy to the BOP. Although it begins as a bundle of four policies, you can add to it. If you purchased each policy separately, you would have to pay full price.

Your coverage remains the same as if you purchased each separately. There’s no reduction in the amount of protection. You still get the same coverage.

• Liability: If someone becomes injured while visiting your business or incurs an illness from exposures occurring at your business, your liability policy covers you. It also pays for court costs and settlements if you get sued because of a faulty product or if you libel or slander a person or organization.
• Named Perils: The BOP provides coverage from damages caused by named perils such as a tornado, snow, fire, and hail damage. Each policy differs in the named perils included. Some states exempt certain perils. You may find that Florida or Texas do not include hurricanes, but this depends on the agency and policy.
• Property Damage: This type of coverage occurs when your business incurs damage from an event that is not a named peril or you damage another individual or organization’s property.
• Business Interruption: This policy type protects you from loss of income during an event that interrupts your ability to do business as usual. This includes named perils, so if a fire caused your business to close for a week, the BI coverage pays you for the income lost.

Contact Gill Insurance Agency serving Plainfield IN, for more information on BOPs. We can help you insure your business for less.

With natural disasters on the rise all across the country, it’s only natural for Indiana business owners to be concerned about their enterprise’s safety. At Gill Insurance Agency, we offer commercial insurance packages to protect small businesses against disaster damage. If you own a small business in Plainfield, IN, here are a few ways you can protect it against disasters.

Identify Your Assets

Make a list of your business assets such as your office, warehouse, business equipment, furniture, products, etc., so you’ll have a clear idea of what you need to protect. Then consider ways to protect these assets in the event of disaster damage.

Commercial policies in Indiana provide numerous coverage types to protect your assets against disasters. Property coverage, for example, protects your business location, equipment, and inventory. Business interruption coverage protects you against loss of revenue and payroll if your business has to shut down due to disaster damage. This helps safeguard your business finances.

Assess Your Risks

Next, consider what disasters pose a risk to your business. Indiana is prone to such natural disasters as rainstorms, blizzards, windstorms, wildfires, and tornadoes. When purchasing your commercial policy, make sure it covers those disasters that pose a greater risk to your company.

Create a Disaster Prep Plan

Create a disaster preparation plan, so your employees know what to do in the event of a disaster. Assign different tasks to supervisors to cover different aspects of your business operations, create evacuation routes for your employees and customers and establish a means of communicating with employees, customers, and suppliers during and after a disaster. You can also establish a temporary headquarters in case your main location is compromised due to disaster damage.

To purchase commercial coverage to protect your Plainfield, IN business against disasters, contact Gill Insurance Agency today.

Businesses of all sizes have vulnerabilities. Commercial insurance needs to be tailored to each particular business to ensure that protection is as complete as possible. You can never anticipate everything that will go wrong, but if you feel covered for most of them, that allows you to spend your time and energy making your business a success and not worrying about all the things that can hurt your bottom line. At Gill Insurance Agency in Plainfield, IN, we make it our business to know your business and provide the expertise you need to get the best policy for your business. 

For your business to thrive, you need to have the products to do business. Commercial property insurance covers not only your building, but it also protects all the materials you need, like office equipment, electronics, inventory, raw materials, and more. You want to be back up and running as quickly as possible after the covered hazard happens. 

Your employees are valuable assets. Hiring and retaining good help requires you to take care of them, and workers’ compensation insurance is one way to do that. Most employers in Indiana are mandated to carry worker’s compensation insurance. This insurance pays medical expenses and lost time when an employee is hurt on the job or performing their job. 

Commercial liability insurance protects your business from legal actions against you. You can be sued for so many reasons these days, and a judgment could be large enough to devastate your business. 

If your business is closed by a covered event, business interruption insurance can make the difference between surviving and having to close your doors. It helps to pay not only payroll but day to day operating expenses.  

Commercial insurance is a valuable protection for your business. Gill Insurance Agency in Plainfield, IN can help you put together a policy that will give you the coverage you need. Please stop by the office or give us a call to discuss your needs.