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Category: Business Insurance

Business Coverages You May Have Overlooked

Posted on by Ownby-Client-Login

You’ve worked hard to make your business successful, and you want to make sure it’s protected. Things like property, liability, and workers’ compensation coverages may seem obviously important – but what about the lesser-known risks?

Contingent Business Interruption Coverage
You’ve likely heard of business interruption coverage over the past couple of years, but what about contingent coverage? If your business’s activities are impacted by shutdowns of your suppliers or other third parties, having this coverage in place can help protect you if these impacts lead to revenue losses.

Cyber Liability Coverage
You’ve probably heard of Cyber Insurance, and you’ve probably seen some of the many breaches at large companies that have made the news. But companies of all sizes have cyber liability, and the more data your company stores, the greater the risks. Don’t store much data at your business? Don’t forget about ransomware and other attacks that you still need to have a plan for combating and responding.

Insurance for Signs and Murals
Spent good money on that electric street sign with an LED display? What if a driver runs into it or someone vandalizes it? What if a storm knocks it down? Signs that are detached from your business’s main building may not be covered by a commercial property policy or a business owners policy. Murals also cost money, and some may be very expensive depending on the size, location, and artist. While most policies won’t cover vandalism to murals, there may be specialty policies or endorsements that can better protect your artistic investment.

Professional Liability Coverage
This coverage can help protect your business in cases where you are sued for negligence, errors, copyright infringement, and more. Even if you think your business will never be in this situation, mistakes can and do happen.

Your business is special, and likely has unique risks. Let us help you determine the coverages you may need and may not have considered. Contact us at 865.453.1414 and let’s get started!

A Guide to Preventing Slips and Falls Around Your Business

Posted on by Ownby Insurance Service

Whether you actually hurt yourself or just suffer from a bruised ego, slipping and falling is always a nasty shock. At home, you can usually just dust yourself off and forget about it, but if you own a business, slips and falls suddenly become much more serious. Maintaining a safe business property for your employees and customers becomes paramount, both to give them a great experience, and to prevent any big insurance claims from knocking at your door.

Reduce your business’s potential for hazardous slips and falls by implementing these safety tips:

Secure Stairways and Ramps

Stay up to date with your city’s local building codes, and install the proper handrails along every stairway and ramp. Even tiny platforms comprised of 1 or 2 steps should have some kind of banister in place. This gives stability to your pedestrians and helps protect you if someone falls in those areas and decides to pursue legal action against you. Also consider lining your stairs and ramps with a non-slip material.

Maintain Walkways and Lawn Areas

Remove obstructions from any walking paths that your employees or customers have to use. It is also important to repair uneven, broken, or bumpy surfaces in the parking lot or on the sidewalk. In the winter, make sure your sprinkler systems are turned off and drained to prevent leaks and icy patches around your establishment.

Keep Safety in Mind All the Time

Aside from covering the basics to keep your business up to code, just make it a habit to look for potential slipping/falling hazards located all around your business.

  • Maintain adequate lighting in all areas where pedestrians will be walking.
  • Keep “Wet Floor” signs in areas where your employees can conveniently access them to warn people away from spills.
  • Repair torn carpet, loose or missing floor tiles, and other flooring materials as soon as you can after they are damaged.
  • If you live in an area with heavy snowfall, establish a snow removal plan for parking lots, sidewalks, and dumpster areas.
  • Keep emergency phone numbers posted in areas where people can see them easily.
  • Stay stocked up on first-aid kits and keep them in plain site. These emergency resources help you and your staff minimize the damage of a bad fall.

When an employee or a customer takes a fall at your business, the consequences have the potential to be dire. Prevent them as much as you can by keeping the area clean and maintained. People will be safer and your business will look better for your efforts! Overall, make sure you are protected by a solid insurance policy that will cover your company if someone gets hurt anyway. You can never be too secure!