General Liability Insurance
Protecting the businesses of North Carolina

General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business. Coverage typically includes product Waynesborough Insurance recommends that all businesses have general liability coverage in place.

What you need to know about commercial liability insurance

Take a look at the list below for additional general liability coverages that are often available.

Professional Liability Insurance (Errors & Omissions)
Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. Waynesborough Insurance recommends that all professional and technology companies have E&O coverage.

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, Waynesborough Insurance recommends considering this type of coverage.

Directors and Officers Insurance (D&O)

D&O covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.

One of the most common types of business insurance, commercial property insurance provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, windstorm and other natural or manmade disasters are examples of what is typically covered.
A basic commercial property insurance policy may be all you need, although the types of coverage can vary between different insurance companies. As an independent agent, Waynesborough Insurance can help you determine the type of insurance policy and range of coverage that is best for your business. For a full list of coverage available, or to learn more about this product, contact us today.

What you need to know about commercial property insurance

Building
Do you own a commercial building? If so, do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building.  We’ll help you determine if you have enough commercial property insurance for your business.

Flood
Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage. Check your current property insurance policy to be sure you are covered. If you’re unsure, just ask Waynesborough Insurance to review your coverage, and we’ll help you find the best solution.

Business Personal Property
Business personal property insurance covers property at a specified location for furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (equipment or installation floater).

Business Income (Business Interruption Coverage)
This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed. It applies while the premises are being restored because of damage from an event, such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. Waynesborough Insurance strongly recommends that all businesses acquire this coverage.

Electronic Data Processing (EDP)
This coverage is separate property coverage specifically designed to protect your computer related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and in some cases virus attacks.

Commercial auto insurance can cover a combination of vehicle types (trucks, cars) and drivers, as well as some types of motorized equipment. It provides for bodily injury liability and property damage while operating a company automobile, medical payments or Personal Injury Protection (PIP) for the driver and passengers of the policyholder’s car. Injuries or damage to someone else are also covered.

Hired/Non-owned Auto Liability
Are you renting cars or are your employees using their own vehicles? This particular coverage provides business insurance coverage for certain liabilities arising from the use of a rented or leased vehicle (hired), or a non-owned vehicle (employee using their own vehicle on company business). Oftentimes this coverage can be added inexpensively to a business auto policy, or in some cases, a general liability policy.

Use of Personal Vehicles
Insurance policies for privately owned vehicles may not cover damage to your privately owned car or truck when it is used for business, even home cosmetics, jewelry sales or a pizza delivery business.

Every business is unique – talk to Waynesborough Insurance today to find out how to get the best commercial auto insurance, service, price and value. 

If umbrella policies are good for individuals, then they are imperative for business. When a catastrophic liability loss occurs, an umbrella insurance policy can mean the difference between a business surviving, or not.

The rising costs of lawsuits and judgments are important for today’s business owner to consider. Catastrophic liability losses can happen to any business at any time, and a commercial umbrella policy protects you when those losses exceed your basic liability coverage. The time and effort you have taken to build your business is too important for it to disappear after one unforeseen event.

What you need to know about commercial umbrella insurance

Commercial Umbrella helps you protect your assets by providing liability limits above and beyond your other policies. In some cases, it even broadens your protection. Due to the unpredictable nature of jury awards, Waynesborough Insurance recommends that your business insurance program include this coverage.

What is Excess Liability Coverage?
This coverage provides extra liability limits over an Umbrella policy. This coverage typically follows the terms of the first underlying insurance policy.

Who needs Excess Liability Coverage?
Higher limits may be necessary for businesses with high loss potential, high profile, sizable sales, numerous assets, large auto fleets, worldwide presence, significant public exposure.

Talk to Waynesborough Insurance today about your business operations and we can advise you what kind of liability coverage you need to protect yourself and your company.

Workers’ compensation coverage pays for medical care and physical rehabilitation of employees injured at work and helps to replace lost wages while they are unable to work. Additionally, this coverage protects an employer from being sued by an injured worker in most cases.

Waynesborough Insurance can help your business find complete solutions to your unique workers compensation insurance needs. We’ll find solutions that create safer and more productive workplaces, more confident and secure workers and overall savings you’ll see on the bottom line.

Coverage for office workers using their own vehicles on company business is often needed, as well. If you have employees, it is critical that you consider this workers compensation coverage.

What you need to know about workers compensation insurance

Some Workers Compensation coverage can include:
 

• Innovative payment systems

 

• Medical disability case managers

 

• Utilization management nurses

 

• Certified life care planning nurses

 

• Vocational rehabilitation consultants

 

• Physician consulting services

 

• Legal staff

 

• Contracts with medical network providers

 

• Managed prescription drug program

To find out more about this product and other products and services, contact Waynesborough Insurance

Whether you’re a contractor looking for a complex bid bond or a business owner in need of a simple license and permit bond, Waynesbrough Insurance is here to help. We know that you can’t conduct business or win the job without the backing of a solid surety bond. That’s why we only work with the most reputable and trustworthy surety providers.

Wayneborough Insurance partners with only the best sureties to give you outstanding products supported by value-added services to contractors and businesses.

Here are some of the types of bonds we can provide:

Contract Bonds

• Bid Bonds

 

• Performance & Payment Bonds

 

• Supply bonds

Commercial Bonds
 

• License and Permit Bonds – Contractor License; Highway and Street Permit; Agent/Adjuster/Broker License; Fuel Dealer; Professional License; Automobile Dealer; and Alcoholic Beverage Compliance Bonds

 

• Probate Bonds – Administrator; Executor; Guardian; and Trustee Bonds

 

• Receiver or Trustee Bond in Bankruptcy

 

• Public Official – Notary Public; Sheriff; Deputy Sheriff; Constable; Jailer; County/City/School Treasurer Bonds; Court Clerk; Loan Closing Attorney; and FHA Schedule Bonds

 

• Court Bonds – Plaintiff Replevin; Plaintiff Attachment; and Cost Bonds

 

• Miscellaneous Bonds

Fidelity Bonds
 

• ERISA (Pension Plans),

 

• Business Services Bonds (e.g. janitorial, home health care or security)

Financial Institution Bonds and D&O Coverage
 

• Commercial Banks and Savings Institutions, etc.

To find out more about our surety products and services get in touch with us at Waynesborough Insurance