woman working at a deli/coffee shop

Businessowners

Whether you’re a “solopreneur” or lead a team of hundreds, your company needs protection from the risks of business ownership.

 

Coverage Highlights


Business Income & Extra Expense Actual Loss Sustained — No Waiting Period 

If you can’t operate your business because your property or equipment is damaged, we’ll help cover your costs, up to the actual amount of lost income.


Damage to Premises Rented to You 

Not every business owner also owns their building. If you rent your shop and it is damaged, up to $50,000 of costs are covered.


EPLI-Free Defense Reimbursement 

This coverage pays your business back if you must defend against a lawsuit connected to a worker’s employment. This has a limit of $10,000.


Equipment Breakdown 

Coverage specifically for the tools and machines you need in your business is included with the policy.


 

Other Features Include…

Additional Coverages

  • Accounts Receivable: $10,000 on premises, $5,000 off premises
  • Basic Liability: $300,000 (higher limits available)
  • Buildings and Personal Property: Replacement cost
  • Contractual Liability
  • Medical Payments: $5,000 per person 
  • Money and Securities: $10,000 on premises, $2,000 off premises
  • Valuable Papers: $10,000 on premises, $5,000 off premises


Optional Coverages

  • Business Computer
  • Employee Benefits
  • Employee Dishonesty

Preferred Risks

These types of business offer especially competitive rates and special enhancement endorsements.

  • Auto parts stores
  • Baked goods and bakeries 
  • Coffee, tea, and spice shops 
  • Copying and duplicating services 
  • Dairy offices
  • Delicatessens 
  • Floor covering stores 
  • Florists 
  • Funeral homes
  • Gift shops
  • Mini-Warehouses
  • Monument dealers
  • Pizzerias (no delivery)
  • Print shops

Employment Practices Liability Insurance

Jan 9, 2020, 1:14 PM

How EPLI protects your business from the most basic risk of all.

When you think of keeping your workplace safe, you probably think of goggles and gloves, or secure computer passwords. But there’s another way you can make sure your company is protected: with EPLI. 

EPLI stands for employment practices liability insurance. It covers employment-related lawsuits, like discrimination or sexual harassment, for your entire company. Hastings Mutual offers tools to help manage EPLI information, including a legal expert specialized in employment-related issues, and information you can customize for your company’s specific situation.

EPLI Lawsuit


Situations where EPLI coverage might apply can involve many different parts of your business. Make sure your company has some basic practices in place to reduce your risk of liability.

  • Create effective hiring and screening programs to avoid discrimination in recruitment.
  • Document everything that occurs when there’s an employment dispute and the steps your company is taking to prevent and solve conflicts between workers.
  • Post corporate policies throughout the workplace and place them in employee handbooks so policies are clear to everyone.
  • Show employees what steps to take if they are the object of sexual harassment or discrimination by a supervisor. Make sure supervisors know where the company stands on the behaviors that are not permissible.

Many companies feel “like families,” but employees can and do sue their employers for many different reasons. Laws and regulations can change at any time, and the cost of going to court after a claim can be $10,000 or more — a real hardship for a small business.

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