Commercial Insurance


Commercial insurance merit insurance

Merit Insurance Agency works only with the most reputable providers of Commercial Insurance who are known in the market for their stability, and financial security. 

Your company’s assets and future are in good hands with Merit.

 

Please click on any of our following Commercial Lines products for more information:

  • Auto
  • Property
  • General Liability
  • Workers Compensation
  • Bonds
  • Construction
  • Probate
  • Manufacturers
  • Non-profits
  • Contractors
  • Real Estate developers/owners
  • Financial/hedge fund risks
  • Main Street businesses

Specialty Programs

  • Acadia Insurance Company
  • Lawyers Professional

 

Manufacturers, Non-profits, Contractors, Real Estate developers/owners, Financial/hedge fund risks, and Main Street businesses

Insurance for Your Business Vehicles

Commercial automobile insurance provides valuable protection for your commercially-owned vehicles — as well as for “hired” vehicles you rent, loan or lease for business use. Typically, policies include:

Liability Coverage for Accidents Involving Your Company-Owned Cars: This coverage protects you in case someone else claims you (or someone driving your covered car) are legally liable for either bodily injury or property damage.

Medical Payments for You or Your Passengers: If you are in an accident or struck by another vehicle, your commercial automobile policy can pay medical expenses for you (if you are not covered by Workers’ Compensation) and any passengers in your vehicle.

Physical Damage (Collision): Your commercial automobile coverage also can include coverage for collisions, providing you valuable protection in case your vehicle is physically damaged in an accident involving another vehicle or a stationary object — such as a building, telephone pole, or guardrail.

Physical Damage (Comprehensive): If you elect comprehensive coverage on your commercial auto policy, it pays for physical damage to your insured autos caused by a variety of risks — including fire, lightning, theft, vandalism, hail and flood.

Uninsured/Underinsured Motorist: This coverage protects you in case you are injured in an accident caused by the negligent operation of an uninsured auto or by a hit-and-run motorist. It also protects you in case you are injured by someone who has less liability coverage than you.

Lost Wages for Accident Victims: Some policies will also reimburse you and any injured passengers for any wages lost because of a covered accident.

Liability Coverage for Business Use of Your Employees’ Cars:  If your employees use their own cars for company business, you will want to make sure your commercial auto policy provides liability protection for business use of employees’ cars. This means that if your employees are ever involved in an accident while using their own vehicles for company business, you would be protected if someone sued you for the resulting damage or injury.

 

Insurance for Your Business Property

If a fire, theft or vandalism occurs in your business facilities, your business property insurance pays to repair or replace the damaged or stolen property. Typically, this coverage will pay to repair or replace the equipment, stock, furniture, buildings or fixtures that your company owns — up to your policy’s limits.
Many policies also include:

Business Income Coverage: If your business property incurs a covered loss that results in suspension of operations, this coverage will reimburse you for actual loss of income over a specified time period. It can also reimburse you for extra expenses incurred to restore your business operations — such as renting equipment or another office space.

Equipment Breakdown Coverage: This coverage pays to repair or replace your equipment in case of breakdowns caused by losses like power surges, mechanical malfunctions, and boiler explosions.

Property Off-Premises Coverage: Many policies extend protection to your business property while it is away from your principal business site.

Property of Others: Coverage often extends to the property of others for which you would be held legally liable. That means that if you accidentally damage someone else’s property while it is in your care, your insurance policy would pay for damages.

 

Insurance Against Lawsuits

Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General liability insurance can
prevent a legal suit from turning into a financial disaster.

A general liability policy extends liability protection to a number of people involved in your business.

  • If your business is a partnership or joint venture, this policy would cover all partners or members and their spouses — but only if they’re sued because of something they did while acting in an official capacity for your business.
  • If your business is a corporation or association, this policy would also cover all executive officers, directors, and stockholders — while acting in these official capacities.
  • Your employees would also be protected — while they are acting in their capacity as employees.
  • Your policy would also extend liability coverage to any subsidiary for which you own more than 50% of the voting stock.
  • Any person or organization, such as a vendor, with whom you have a written agreement to indemnify, would also be protected against liability claims for any bodily injury or property damage that results from distributing or selling your products.
  • Any newly acquired organization would also be protected under your policy, for a limited time period.
  • Your legal representatives would also be afforded liability coverage under this policy — for any liability arising from the maintenance or use of your property in their care.
  • While acting under your direction and within the scope of their responsibilities for you, any volunteers for your business would also be extended liability coverage.

Typical expenses that this policy may cover include:

  • Amount the insurer spends to investigate or defend the claim or suit brought against you.
  • Other costs incurred directly by the insurance company, such as attorney’s fees, witness fees, and police report costs.
  • Any court costs or other costs assessed against you in a suit.
  • Reasonable expenses you incur at the insurance company’s request to aid in your defense against a claim (such as your loss of income for a day spent in court).
  • Any judgment or settlement arising from a covered suit.
  • Any required interest on the judgment if the defense is unsuccessful.
  • Medical expenses for injured parties.
  • Premiums for any bonds required by a liability suit.
 

Insurance for Employee Injuries and Illnesses

Most states require employers to carry workers’ compensation insurance to cover employees who incur workplace injuries or illnesses. The concept behind workers’ compensation is that employees relinquish their right to sue employers if they suffer a job-related injury or illness. In return, employers agree to provide state-mandated benefits if job-related employee injuries or illnesses occur.

Typically, workers’ compensation pays:

  • Medical Benefits for a covered injury or disease — including medical, hospital, surgical and other related health care costs as well as physical therapy and prosthetic devices.
  • Disability Income Benefits — including compensation for lost wages.
  • Rehabilitation Benefits — including services to help an injured worker return to productive work, such as vocational rehabilitation.
  • Death Benefits — including a flat amount for burial expenses as well as partial replacement of the worker’s weekly wage.
 

Construction Surety Bonds

We at Merit Insurance are proud of our Surety Bond Department, a unique service offered to our construction clients. Dedicated to fast, efficient service, we are able to assist our clients in the bidding process by offering the ability to issue bonds right from our office. We are knowledgeable in this area and strive to offer creative solutions to our clients’ bonding needs.

 
Probate Bonds

The staff at Merit Insurance. Inc. understands how frustrating probate bond can be to obtain. That is why we have worked closely with the major probate surety companies to develop probate bond programs that are comprehensive, responsive, and efficient. In-agency underwriting authority, simplified applications and forty years of practical surety experience make our programs the best in the industry.

Our goal is to provide you with one-day service. In most cases our response time can be measured in hours. Can you current surety agent provide that level of service?

For more information, please contact Edward Buckmir [email protected] .

 

Home Builders Association Program

Merit Insurance is proud to have been selected as one of only a few agencies in the state of Connecticut able to offer insurance to home builders through The Hartford Insurance Company. This program is endorsed by the Home Builders Association.

Eligible home builders can take advantage of the low rates offered by The Hartford to qualified contractors. Lines of insurance include general liability, workers compensation, commercial auto, and property. In addition, these offerings are complemented by our ability to provide bonding to eligible contractors.

Please email Jim Benson [email protected] or Bob Caldwell [email protected] or call (800) 762-8358 for more information.

 

Remodeling Contractors Association Program

Merit Insurance is proud to be the managing general agent for the Remodeling Contractors Association Insurance Program since 1996. This program is underwritten by The Travelers Insurance Company, a member of Citicorp. Eligible remodelers may receive an up-front discount of 10% on their Workers compensation coverage and 15% on their Auto and General Liability policies. Also, the program has paid return dividends to the contractors on their Workers Compensation policies. These dividends have been as high as 31%.

Please email Jim Benson [email protected] or Bob Caldwell [email protected] or call (800) 762-8358 for more information.

 

Lawyers Professional

 
We specialize in insurance coverages designed for Law Firms including Lawyers Professional Liability, Trustee Liability and Surety Bonds.