Why Every Small Business Owner Should Have a Comprehensive Umbrella Insurance Policy

Are you a small business owner in the greater Selden, NY area who wants to learn more about a comprehensive umbrella insurance policy? The team at XL Brokerage Inc. is here to review your umbrella insurance policy options with you. With the right policy, you can rest assured that your business is covered in the event of a loss that exceeds the protection limits of your primary commercial insurance policy. 

Top Reasons to Add An Umbrella Policy to Your Insurance Portfolio

If you are a small business owner you understand how even the smallest change in cash flow can have an impact on your overall success. Here are 3 good reasons to add an umbrella policy to your current insurance holdings:

  1. Your primary policy has coverage limits, typically $250,000 of protection. If you experience a loss that requires more than your primary policy covers, you will have to cover the difference from your company profits or your own funds.
  2. When a loss occurs payouts for business interruption, in addition to replacements and repairs, can quickly exceed your primary policy limits causing further loss of revenue.
  3. An umbrella policy allows you to get back to business as soon as possible, without risking failure of your business.

If you don’t have comprehensive umbrella coverage in addition to your primary commercial insurance, it’s time to find out more about your options. Coverage can include your fleet, inventory, business interruption, as well as physical damage to your structure and its contents.

Now is the perfect time to review your commercial umbrella insurance policy options! If you are in the Selden, NY area, call or stop by the XL Brokerage Inc. to meet with one of our knowledgeable agents and find out more about comprehensive commercial umbrella insurance.

What Kind of Commercial Insurance Does My E-Commerce Business Need?

Many e-commerce businesses in Selden, NY aren’t sure about the type of insurance they need. Brick-and-mortar businesses need coverage to protect products, but what do e-commerce business need? There are some guidelines, but an agent at XL Brokerage Inc. can help you determine the coverage for your exact type of business.

General Liability Insurance: Even an e-commerce business can have accidents. If any of your products, services, or employees cause property damage or bodily injury, you could be sued. Having a general liability policy will help protect you.

Product Liability Insurance: If your e-commerce business has products, this insurance will protect you if your products cause harm. This is important if your products are expensive to produce or could cause harm if they malfunction.

Professional Liability: This is useful for e-commerce businesses that sell services, and this type of policy can protect you from a lawsuit that stems from how you perform these services.

Workers Compensation: Even an online business can have employees and, if you have even just one employee, you need workers compensation insurance, since it’s required by law in Selden, NY. This insurance will help provide payments and wages for those employees that are injured on the job.

Commercial Auto: If your e-commerce company has vehicles, such as delivery trucks that are used for business purchases, then this policy will protect these vehicles if there is an accident, damage, or theft. If employees drive their own cars for work, then you should consider a non-owned auto liability insurance policy, which will protect your business assets in the event that they are in an accident. It also covers damage or theft when the vehicles are being used for business. This is even more important if your employees don’t have adequate insurance coverage personally.

Contact XL Brokerage Inc. to get a quote on commercial insurance.


If You Work at Home Do You Need Commercial Insurance?

If you have a home-based business in Selden, NY, especially one without a lot of risks, then you may think that you don’t need commercial insurance. However, you need to separate home from business and protect both aspects of your life. There have been many times when a homeowner’s insurance policy has been rejected when trying to process a business claim. People are litigious, so it’s necessary that you have adequate coverage to protect your business assets. An agent at XL Brokerage Inc. can help determine the right coverage.

Even if you work for yourself and don’t have employees, you still need to have insurance. If you make a mistake at work, then people may come after your home. Even if you have a personal liability umbrella policy, it won’t cover any business-related problems.

There are a few different policies you can get in order to protect your home-based business. Business general liability insurance is the main policy that you should have, regardless of the type of work you are doing. It covers many basic things, including bodily injury, property damage, and personal injury in advertising. A commercial property policy will cover any equipment you keep at home even if the equipment is minor, like a computer. Errors and omissions insurance helps protect businesses that offer services to clients. This can also be called professional liability insurance, and for doctors and lawyers, it can be called malpractice insurance. If you do have at least one employee, whether they work with you or somewhere else, workers compensation insurance will protect you if they get injured on the job. If you are using your vehicle for deliveries or other business purposes, your auto insurance policy won’t cover the business use of the vehicle and you will need a commercial policy to provide adequate coverage.

Contact XL Brokerage Inc. serving Selden, NY to get a quote on commercial insurance.

How Commercial Insurance Options Can Protect Your Assets in Selden, NY

Imagine that you’re about to retire. You’ve got a nice retirement account, and a paid-off house and car. Altogether, your assets put you in high net worth territory, and life is good. One day, you get into a car crash driving your company’s van. You aren’t hurt and there’s minimal damage to your car. However, the other car if in bad shape and so are the executives that were riding in it. Find out how a commercial insurance can protect your personal assets. Be sure to follow up with your XL Brokerage Inc. agent with specific questions on your policy needs.

What Commercial Insurance Covers

Commercial insurance covers the same thing as regular insurance but applies to your business. It separates your personal and professional liability.

  • Bodily Injury. For instance, your employee is working at a job site and injures someone. Your commercial insurance covers the medical treatment for the injured party. Because you have business insurance, you don’t have to pay out-of-pocket, putting your personal assets at risk.
  • Property Damage. If you employ a truck driver and she crashes into someone’s front porch, your commercial auto insurance covers the damages.
  • Worker’s Compensation. If an employee gets hurt on the job, worker’s compensation pays the cost of his medical bills. 
  • Other Coverage. Product liability and business disruption are just two of many options to cover your business’s insurance needs so that you can protect your assets

Contact Us

Contact XL Brokerage Inc. to find out how getting commercial insurance for your Selden, NY business can protect your assets. Contact us for an appointment to get a quote today.


Is Umbrella Insurance for Large Businesses Only?

There has been a persistent myth where individuals believe that only big businesses can afford umbrella insurance. The fact is that even small businesses need the coverage as much as the big companies do. Some lawsuits or claims are too big for regular commercial insurance and having umbrella coverage in Selden, NY provides extra protection. As a business owner, you probably do not want to think of a severe disaster happening to it, but it is wise to be prepared. XL Brokerage Inc. offers small business umbrella insurance for the following reasons:

To provide extra liability coverage

Umbrella insurance can be termed as coverage that goes beyond your existing policies. In other terms, it can be described as a policy that saves you during a storm. When your current coverage does not reach the limit of lawsuit expenses required, it jumps in to save you from going back to your pockets. It also protects your business from disastrous lawsuits that could leave you drained. Some things are just out of control, and although you cannot avoid them, you can stay safe.

Helps protect areas that were not protected

Umbrella insurance also helps in protecting claims that are not included in the other current policies. The Self-Insured Retention, however, applies in such a case where it is treated as a deductible. Umbrella insurance makes sure that nothing is left unprotected just because it was not included in the initial coverage contract.

Assists you in reaching the average limit of your policy

If what is remaining in your coverage is less than what the claim is demanding, this coverage helps to fill in the remaining amount. This is in the event of a more extensive claim that what your small business can afford.

From the above explanations, it is evident that umbrella insurance is not only for large businesses. The size of your business does not determine or dictate the degree of disaster that it has to suffer. Make a point of purchasing umbrella insurance in Selden, NY from XL Brokerage Inc. and offer your business an extra layer of protection.


Commercial Insurance Needs When Travel Is A Part Of The Job

We understand the needs of New Yorker’s since we are of that ilk ourselves. At XL Brokerage Inc. in Selden, NY we don’t let the hustle bustle of "The Big Apple" get to us or to you. Just about 40 miles east on Manhattan we know how to take a bite out of it without letting it take a bite out of you or your insurance budget. 

Employees who have travel as a main component of their work life have so many extra concerns added to their responsibility list as their non-traveling counterparts. As a result of the extra burden of having to travel to maintain a job many employers take on the bulk of the financial burden. 

Commercial Insurance Needs When Travel Is A Part Of The Job? 

Note the question mark on the end of that subtitle. Your first step in answering what is needed here is the ascertain what is already provided. The time to find out is not when a claim of liability has been drawn on you or by you. Speak with the staffers of your human resources department or other appropriate entity at work to determine where you stand. It is not only about what is reimbursed or out right paid for, insurance is about what if the unforeseen is right in your face.  

XL Brokerage Inc. specializes in many different types of insurance coverage to meet the liability areas of your life. Located in picturesque Selden, NY in Brookhaven township you are invited to simply drop in to ask a question about an existing policy you own with us or about how to purchase a brand new policy. We are housed in Suffolk County, NY at just about the center of Long Island, Nassau County and New York City residents are welcome.  

Is It Time To Change Your Commercial Insurance?

At XL Brokerage Inc. we have seen a lot of great Selden, NY companies stick with a poor commercial insurance company for far too long. We understand that switching can be a difficult or troubling experience. However, it is one that must be done to protect yourself from excessive costs.

Your Rates Keep Increasing

A great commercial insurance company will rarely increase your rates. However, when rate increases do occur, you will get an advanced warning and an explanation for these increases. If your insurance company keeps increases for you and refuses to explain them, you should consider new insurance options.

Coverage Is Getting Worse

When a company raises your rates, there should be a reason for it. Is your coverage increasing or improving due to this extra cost? If so, it is probably worth the extra money. However, if your coverage amount decreases while your rates increase, something is up. That’s when it is time to consider a new source of commercial insurance.

New Business Is Becoming Available

Is your company expanding its range or bringing in new partners? It might be time to start thinking of new commercial insurance. That’s because the range of your company is expanding and a new group of people may need coverage. Talk to your policy provider first before making any major switches.

Changes To Personnel

If you are welcoming new employees or new owners to your company, reconsider your commercial insurance. This change is different than when you add new business because employees and owners are typically more permanent.

Is It Time To Switch?

With the help of XL Brokerage Inc. brokers, your Selden, NY business will get the kind of commercial insurance it deserves. Whether you are switching to us or away from us, we will help you with the process.

Keep Your Business Working with Workers Compensation Insurance

While every business is required to carry workers compensation insurance, XL Brokerage Inc. reminds you to work with a qualified agent to ensure your Selden, NY construction company has the right coverage to protect you and your employees in case of a severe workplace accident.

Review the Risks of Working in Your Industry

An office worker will not face the same kind of challenges that a construction worker does. Twisted ankles and carpal tunnel syndrome may send an employee to the doctor, but they aren’t as likely to materially change the quality of life as an industrial accident. When your employees work in a hard hat area, your workers compensation insurance policy ought to reflect the higher threat to life and limb.  

Carry Sufficient Liability to Cover Serious Injuries

You’ll want to discuss maximum and minimums per accident with your insurance agent. It may be less expensive to carry lower maximums up front, but if a worker suffers the loss of a limb and the policy won’t adequately compensate them for the injury, you could face additional expensive and lengthy litigation in civil court. When you care for the future of your staff, you build a positive reputation as an employer, lowering turn over and building your customer base.

Proactive Response Helps to Process Claims

When a serious workplace injury does occur, not only does a responsive insurance company help you weather the financial strain, but along with positive management can increase the satisfaction of the injured party through simple services. When you personally follow up with the employee, you’ll be able to properly respond to any new difficulties they might be facing. 

Your agent with XL Brokerage Inc. looks forward to the opportunity to assist you in finding the right workers compensation insurance for your Selden, NY business.

Can I be Sued if a Customer Gets Robbed in My Convenience Store?

New York convenience store owners may wonder if they can get thrown into a lawsuit if something happens to a customer while that person is shopping in it. For example, what if a consumer gets robbed by an intruder while the consumer is shopping in the owner’s store? The short answer to the question is yes. Not only can a customer sue a store owner, but also a robber can sue a store owner. A 2007 case  exists where a robber sued a store owner for assault that occurred while he was in the store. Therefore, the answer is that, yes, it is possible for a store owner to receive a lawsuit. That does not mean that the plaintiff is going to win the case, but the store owner should try to protect himself or herself anyway.

All sorts of accidents can happen inside of a business establishment that can cause people to file suit against a convenience store owner. Slip-and-fall occurrences are only  a few. A lawsuit c an occur any time an injured person feels that an establishment owner didn’t take steps to protect him or her.

An insurance agent like the ones at XL Brokerage Inc. can help to locate  a policy that will protect store owners from the previously stated situation and those that are similar to such. A reliable insurance policy can provide the store owner with the funds to pay for injuries and losses if a customer decided to file suit. Receiving a quote for insurance is quite simple. The interested party could simply contact a Selden area agent who could go through the large database of insurance companies and products. The customer can choose the best policy based on his or her budget and needs.

What You Need to Know About Commercial Insurance


Protect your business with commercial insurance. Have the right type, so that you don’t lose everything if unforeseen circumstances arise. If you have to close your business because of a lawsuit, your family would be devastated. There are several types of insurance that may offer you stability and keep you afloat if a disaster happens.

General Liability Insurance

If someone becomes injured while at your place of business, there could be damages that will be your responsibility. Having general liability insurance could protect you from paying out-of-pocket costs, like medical bills.

Professional Liability Insurance

Professional liability insurance protects the company from malpractice lawsuits or claims involving negligence. Physicians who own their own practice may be required by the state to have professional liability insurance.

Umbrella Liability Insurance

Umbrella liability coverage takes care of any gaps in insurance that is leftover. If you have a limit to your liability coverage, umbrella liability may be used to cover the rest.

Commercial Property Insurance

Commercial property insurance has two basic types. There is an all-risk policy and a peril-specific policy. The all-risk policy covers a large amount of events except ones that are clearly mentioned. The peril-specific policy only covers exactly what is written in the policy.

Business Vehicles

Having commercial insurance that protects your vehicles may be necessary if your employees use your vehicles regularly. Drivers that need to transport merchandise from place to place could be covered if you were protected with commercial insurance.

Home-Based Businesses

Some people may believe that their homeowner’s policy will cover losses if you have a home-based business. It’s possible that you might have to add addition coverage, including professional and general liability insurance to your homeowner’s policy.

Serving Selden, NY, XL Brokerage Inc. has independent insurance agents that can offer you information about commercial insurance options.