We don't just offer the basic coverages such as Building Coverage and Contents Coverage we also make sure we thoroughly evaluate your business and it's needs. Below are just some of the Coverages we offer in addition to Building, Business Personal Property and Loss of Income.
Click a coverage topic below to learn more:
We will assist you in evaluating what it would cost you to replace your inventory; we take into consideration for those companies that may purchase used equipment and then refurbish it like new where others may forget to ask those important questions.
Equipment Breakdown is coverage for the breakdown of mechanical equipment including broilers, steam pressure systems, air conditioning, HVAC equipment, electrial apparatus, utility systems, compressors and other electrical systems, including Business Income & Extra Expense.
Companies that work on magnets this could be a major exposure. Suppose your warehouse shuts down and you lose power and you need to maintain equipment at a certain temperature? This is a potential loss.
Some companies forget to review with you what actually stays at the office and what actually leaves; some companies would like you to believe that this equipment is covered under your Business Personal Property also known as Contents Coverage, but is it really? Look at your policy and make sure this is clearly spelled out because many policies will not cover this unless it is specifically requested. What happens if one of your technicans visits a job site and grabs a bite to eat for lunch. In his vehicle are lap tops, diagnositc equipment, cell phones and equipment parts. The car gets broken into and this stuff gets stolen; it can be costly to replace these items.
We have found many companies in the medical sales and service industry do not have a commerical auto policy and many times leave their business at risk. Our Protek Insurance Program offers Hired and Non-owned Auto Liability Coverage in addition to the General Liability Coverage. Why do we offer this? Because we understand many companies use their own personal auto to conduct business.
If you have any employees such as sales people or technicians who use their personal auto to visit a client or to pick up a piece of equipment to be repaired did you know if your enployee got into a car accident your company could be named in a lawsuit? We do, and that is why we offer this very important coverage. Because we understand your business and we know the right questions to ask.
Transportation & Motor Cargo Coverage does have their own distinctions in regards to coverage provided. (1) Transportation Coverage - provides protection for your property, that you own, while it is being transported either by one of your own vehicles, a common carrier or a contracted carrier. (2) Motor Cargo Coverage insures you as the common or contract carrier against legal liability for a covered loss for property of others during transit while it is loaded for shipment in or on a covered vehicle.
Did you know if your employee transports a piece of an equipment and gets into a car accident that the equipment they are transporting is not covered under an auto policy?
Did you also know that if you ship any equipment using an Express Carrier that most often the most they will provide if the goods are damaged or stolen is $100.00 and if you wanted to purchase additional coverage it could be very costly?
Suppose you hired a contract carrier to ship your goods, you made sure it was packed percisely, made sure you had a contract, you checked references to make sure they were a reputible company but when a claim occurred you only received a fraction of the cost to ship that very expensive equipment. Did you know to check the valuation of the shipper's contract? Instead of offering the replacement cost of the equipment being shipped they offered a valuation based on weight.
At Koty-Leavitt Insurance Agency we can offer bumper to bumper coverage, from warehouse to warehouse, state to state and overseas shipping as well.
This coverage is typically segmented into two parts (1) Security Liability -- which protects against unauthorized access or use of a utility's network which could consist of your network, a vendor's network or a partner's network. The second part (2) Privacy Liability -- provides protection against a violation(s) of privacy laws or regulations.
As technology grows so does the capacity for Cyber Liability & Data Breach claims. How does this affect those in the medical equipment sales and service industry? Here are some possible scenarios:
This coverage provides protection against injury or contracted diseases for employees which were obtained during the course of employment. Each state has their own laws as it pertains to Workers Compensation coverage.
Provides coverage for property that is not at a fixed location such as miscellaneous tools and equipment that is taken to a job site, scheduled equipment for large pieces of valuable equipment, installation floater -- equipment that is not owned by the company but is in their care custody and control while it is being installed; these are just some of the coverages that may be provided under Inland Marine.
Because we understand your business we know the right questions to ask.