Insurance

The Different Types Of Insurance Products. Black Bear offers a variety of insurance polices to protect your business:

INSURANCE FOR FLORIDA BUSINESSES

Below is a list of the different types of insurance products available through Black Bear. Please click on a type of insurance for a description of the coverage and information on the professional services Black Bear offers for that particular coverage. We will continually add more information to this site detailing the benefits of each type of coverage.

BLACK BEAR ADVANTAGE

No two businesses are exactly the same and each business has unique risks. Black Bear Insurance Agency partners with businesses in Florida to assist in putting together an insurance program tailored to your individual needs and budgets. The licensed insurance agents at Black Bear make this process as smooth and quick as possible. We work with you to understand your business and the risks you face. We will review the coverages available to protect you and offer competitive rates. As one of Black Bear's clients, you can trust us to handle your insurance while you focus more fully on running your business.
The accounts receivable policy reimburses the insured business for amounts which cannot be collected from customers due to damage to the company's accounts receivable records. It also covers extra collection expenses, costs to reestablish records and interest on any loans the insured must obtain to stay in business while collections are impaired.

The agents at Black Bear will work with you to see if this coverage is a good option for your business. There are two forms available with this coverage, a nonreporting form, subject to a fixed limit, and a reporting form wherein the insured makes periodic reports of receivables and is charged a premium based on such averages. Black Bear will also help you throughout the term of your insurance policy and be available for any questions you might have or for any assistance you might need.

Black Bear Insurance Agency understands the risks and special needs of farmers and other agricultue-related businesses. Some of the policies that can be written under this catagory of insurance include:

Livestock Insurance

Crop Insurance

Nursery

And others. Please contact our office or request a quote for additional information on how these policies can help cover the risks in your agriculture business.

Commercial automobile insurance provides coverage for your company vehicles, including: liability, comprehensive, collision, medical payments, hired auto, non-owned auto, uninsured motorists, and personal injury protection for vehicles used for business and can be extended for personal use as well.

At Black Bear, we can provide you with the detailed information you will need to determine what coverages and limits would best suit your business. With the rise in law suits involving automobile accidents, we always recommend you purchase the highest limits of liability insurance you can afford to protect your business. We will review all of your business automobile coverages and provide you with alternate quotes based on your needs.

The builder's risk policy is used to cover buildings in the course of construction or renovation and remodeling. The policy also covers theft of building materials on site and in transit.

At Black Bear, we can offer a builders risk policy to suit your particular needs. The limit of insurance you should purchase is based on full value of the building when it is complete. This particular policy will calculate the premium based on the length of the project and will level out the premium so that you will pay only for the amount of coverage needed at any point during the life of the construction project. If the project is not completed by the expiring term of the policy, we will assist in obtaining coverage until the building is complete or put to its intended use.

Business income insurance is used to cover the loss of income that results from a suspension of business when the insured property has been damaged by a covered peril. Under this form, extra expenses are included and rental value can be included without monthly limitations. An extended period of indemnity endorsement is added to provide coverage after you resume operations until your business returns to its normal level of activity.

Black Bear Insurance Agency is dedicated to protecting your business, which is your livelihood. Many business owners depend on their business income to support their families and pay the necessary bills. If this income is stopped due to the business being shut down for a catastrophy, what is your plan to keep moving forward? A business income policy will provide the funds you need until your business is back up and running. If this is something that would be beneficial to your operations, please contact one of our agents so that we can discuss your needs.

The Businessowners policy (BOP) is a type of packagepolicy written by some insurance companies to provide a more complete coverage for select types of small businesses. The policy includes coverage for property,liability, inland marine, and a number of coverage extensions such as commercial auto, employee dishonesty,theft of money, and others.

At Black Bear Insurance Agency, we will always review your account to see if this policy is available for your type of business. If so, we will provide you with a quote and explain the options available.

The need for crime coverages arose from exclusions found in commercial property coverage. Commercial property policies cover most risks of physical loss including theft of merchandise and business personal property by persons other than the employee. Theft of money, computer fraud and employee dishonesty are not usually covered except in minimal amounts. Crime coverage policies fill in the gaps.

Black Bear will assist you in learning about the various types of crime policies and will provide premium indications to let you know if the coverage will fit your budget needs and is a good value for your business. The types of crime policies include:

Employee Theft

Forgery or Alteration

Theft of Money and Securities - Inside/Outside premises

Robbery or Safe Burglary of other Property - Inside/Outside premises

Money Orders and Counterfeit Money

Computer Fraud

Funds Transfer Fraud

Directors and officers insurance provides coverage for protection and legal defense of directors, officers, and certain other individuals associated with an organization that may be found legally liable for damages resulting from work related activities. Though most commonly used for publicly held companies and non-profit boards of directors, this coverage can also be important for many private firms. This insurance deserves careful consideration by every private or public board of directors in America.

Most claims that this protection cover arise out of lawsuits for corporation mismanagement. Black Bear will thoroughly assess your potential risks and exposures and provide you with quotes based on your needs and exposure.

This insurance covers loss to electronic data processing equipment and media owned, leased or used by the insured. Computerized production equipment may be insured as well as conventional computer equipment.

The agents at Black Bear will work with you throughout the whole process of finding coverage and comparing it to other quotes. This coverage is available through inland marine markets and is not standardized. Comparisons must be made as to exclusions, on- and off-premises coverage and transit. Valuation basis is a consideration since most computer systems will not be replaced with like and quality due to changes in technology. As all industries are becoming more computerized, this coverage is vital. Black Bear will assist you in making sure that all your risks are properly covered.

This is where I put a description of the coverage.

Equipment breakdown insurance (also known as mechanical breakdown or boiler and machinery insurance) is used to cover almost every kind of equipment that contains pressure or generates/transmits power. It covers the equipment that breaks down, the building, business personal property, and other equipment that may break as a result of the initial equipment breaking down or flying apart.

Black Bear can work with you to put together a complete policy that will keep your business moving even if important machinery stops. We will put together a complete policy that protects your business for the need of the equipment and the losses that could result from breakdown, including the following additional coverage options for this policy:

Property Damage

Expediting Expenses

Extra Expense

Spoilage Damage

Utility Interruption And others...

The equipment floater policy covers the heavy machinery, equipment and tools a contractor needs to conduct business. This investment must be protected from loss by fire, theft, landslide and other perils, while on the jobsite, on the way to and from a job site, and while the equipment is temporarily stored.

Black Bear will assist you in evaluating whether this coverage is important to your business. The floater will cover a contractor on an all risk or named perils basis for loss to all types of tools, machinery, and equipment owned, rented or borrowed by the insured. Neither the commercial property or commercial auto provide the extensive coverage that can be obtained under this policy. Please contact an agent in our office today for a free no obligation consultation and premium indication that will let you know if this coverage is right for your business.

In Florida, flood damage due to heavy rains or tidal surges is a potential cause of significant loss. Flood protection is not included in commercial property coverage and therefore this type of policy must be purchased by businesses looking for protection from such an exposure. The flood policy covers buildings and their contents on either a replacement cost or actual cash value basis against direct loss by flood.

At Black Bear, we will review the different types of options for Flood coverage and well as provide you with a premium indication for purchasing this important form of insurance protection. We can assist with reviewing the coverages as well as how the coverage applies in the event of a loss. Keep in mind that the entire State of Florida is in a Flood zone. Some zones are at a higher probability of flooding than others. If we look at statistics on past flood claims, 25% of flood losses were in the zones with less probability of flooding. Keep this in mind when reviewing this coverage.

Garagekeepers liability provides liability and physical damage coverage to automobile dealers, garages, service stattions, auto accessory businesses by reason of accident arising from business operations. The coverage can be written on a legal liability basis or a direct basis as well as primary or excess.

At Black Bear, we can review your risk and provide you with a quote tailored to meet your business operation. Depending on the type of garage exposure you have, you may need additional endorsements that will provide the coverage you need to protect you against perils excluded from the basic garage policy. Some of these endorsements are False Pretense, Drive Away Collision, Personal Injury Protection, Garagekeepers, Uninsured Motorist Coverage, Physical Damage Coverage for owned, hired, leased vehicles. There are many other endorsements available for this type of coverage. Give us a call for a review of your business exposure.

General liability insurance is one of the most important coverages for your business. This policy will provide protection in the event of a lawsuit arising out of the premises, service, operation or product of the business. If an incident/injury were to occur due a negligent act, this coverage will respond. In the event of a claim, the amount rewarded could be minimal to millions of dollars depending on the extent of damage or injury.

At Black Bear, we can review this coverage in detail and advise how the coverages would apply in the event of claim. We could never advise on the amount of coverage that would be sufficient for your business. This decision would be yours to make. We would recommend purchasing the highest coverage available and affordable. This is not the type of coverage to want to cut corners with. Give our agents a call regarding your General Liability policy.

Inland marine coverage began as an extension of the ocean marine insurance. Many customers needed coverage for property that moved on land between the dock and their final destination. The inland marine coverage now protects property in transit and has expanded to cover a number of other risks. Please select the insurance resource library below for more information on this coverage.

The agents at Black Bear Insurance Agency can work with you and your business to find a solution for your inland marine risks. This type of policy also allows for the most creativity to cover unusual risks. Please contact one of our agents today or request a quote below.

Installation insurance provides protection for the installer of equipment against loss to the equipment and other property during the course of installation. It can be provided against loss by certain named perils or on an 'all-risk' basis. An example of the need for this insurance is if an elevator was installed and it was damaged or destroyed before the buyer could take possession, the contractor would lose the cost of labor and materials if there was not an installation insurance policy.

If your business installs products or oversees the installation of equipment, then Black Bear Insurance Agency can assist you in protecting your business from the risk of damaging property or the equipment during the installtion process.

Liquor liability insurance provides coverage that protects organizations whose business involves the manufacturing, distributing, selling or serving of liquor from the liability of contributing to or causing a person's intoxication, furnishing to minors, or violations of statute. This type of exposure is excluded from the General Liability policy.

The licensed agents at Black Bear Insurance Agency will evaluate your business operations and current insurance policies to let you know if carrying a liquor liability policy is necessary for your business. They will also discuss with you appropriate limits and the difference between an occurence or claims made form for your policy. As a vendor of alcohol, you have many additional risks and those need to be properly insured. Black Bear can assist you in protecting your business.

Medical Malpractice is a form of liability coverage that protects against financial loss due to judgements resulting from claims of inproper actions or failure to exercise proper skill by a professional or others involved in the care of the human body. This includes doctors, dentists, blood banks, and others in the medical field.

It should be comforting for you to know that you have partnered with an insurance agency like Black Bear that will allow you to receive the very best coverage for the price. The agents at Black Bear understand the needs of professionals in the health care industry and will provide you with all of the information you need to make an educated decision on your insurance and will provide you with the ongoing support to make sure your practice is always properly covered by your insurance policy.

Commercial Package policies are generally advantageous to both the insured and insurer. For the insured, there are fewer policies with which to deal, the chance of coverage gaps or overlapping coverage is reduced, and premium savings often result. Insurers realize expense savings and may avoid adverse risk selection. A common Comercial Package policy is the business owner's policy. Black Bear attempts to package policies together as much as possible to give these advantages to our clients.

This policy covers a business' liability arising out of a 'pollution incident', meaning emission of pollutants into or on land, the atmosphere, or water and causing environmental damage. The broader form of coverage also provides liability for clean-up costs. These policies are generally on a claims-made basis.

If your business has the risk of a potential loss due to the chance of a pollution incident, then please contact one of our agents by requesting a quote below for a premium estimate on a pollution insurance policy to protect your business.

Professional Liability covers the insured's liability arising out of the rendering or failure to render services of a professional nature. For some businesses, this coverage is a major exclusion in General Liability and must be purchased on a separate policy. Medical Malpractice andErrors and Omissions are both forms of Professional Liability.

Common occupations that carry separate professional liability insurance are architects, engineers, accountants, insurance agents, real estate brokers, stockbrokers, financial planners, surveyors, and lawyers. The agents at Black Bear will sit down with you and review the coverage provided with a professional liability policy and offer a quotation.

Property coverage will provide protection for a loss to physical property or the loss of its income producing abilities if the loss is due to a covered peril. Property may include building, business personal property and some types of rented office equipment. This type of coverage is typically written on a Special Form. (Cover due to all perils except what is excluded).

At Black Bear, we can review the different types of Property Coverage available and offer a competitive rate. This type of coverage may be included in a Commercial Package Policy. The threat of hurricanes makes our state of Florida one of the most challenging areas for property insurance in the world. We have seen the result of this in increased premiums over the last few years. Black Bear is committed to working with you and your business to find the best coverage and rates available. Contact one of our agents today to see what we can do for your business.

Transportation insurance extends to merchandise while being moved and is subject to coverage during transportation. This type of policy can also be written to cover an instrument of transportation or communication, such as bridges, tunnels, and transmission towers.

At Black Bear Insurance Agency, we will provide you with the information you need regarding this coverage and can advise how the coverage will apply to your business. Please contact us today for a quote on your transportation insurance coverage.

A policy is available for truckers and their exposures. This policy provides vehicle-related coverages needed by this type of operation and recognizes regulatory requirements. Coverages are available for liability, uninsured motorist, physical damage, trailer interchange physical damage, medical payments and towing. Other coverages are available by endorsement.

At Black Bear, we can review your business and provide you with a quote for your exposure. We have access to a specific Trucking industry market that will provide you with the coverages you need at a competitive rate.

Are you adequately covered to provide you with the protection you need in the event of a liability loss? Losses could be well into the millions of dollars depending on the type of damage the injured party sustains. The commercial umbrella policy provides additional limits over your general liability, automobile liability and employers liability coverage. This coverage begins where your underlying coverage stops.

At Black Bear, we can review your type of risk and provide you with quotes for extra protection provided through an umbrella policy. In today’s litigious society, an umbrella policy is a standard with many businesses. It will provide the extra added protection needed for the business to survive in the event of a substantial award from a lawsuit.

Windstorm and hail insurance provides protection against damage done to property by unusually high winds, cyclones, tornadoes, or hurricanes. It is perhaps the most important component of property coverage in Florida. Although most property policies include wind/hail coverage, some factors may cause an insurance carrier to exclude this coverage and a separate wind/hail policy must be added.

The agents at Black Bear will review your property exposure and provide you with a quote to include the peril of windstorm and hail in the same policy. If there are factors present that will prevent us from finding a carrier willing to write this coverage together, then we will review these with you and advise you of the details on why this coverage cannot be written. We will then search for a market that is willing to write just the wind and hail exposure on your property. If you are interested in obtaining this coverage, please contact one of our agents or our office.

Workers' Comensation is a state mandated protection that provides benefits to employees for any injuries or diseases and the resulting loss of work arising out of and in the course of employment. It is required in Florida for businesses over four employees and businesses in the construction industry with more than one employee.

Workers' Compensation is the line of insurance that has the largest premium for most of our clients. At Black Bear Insurance Agency, we are able to work with you to control this cost. Reviewing classifications, checking experience modifications, controlling claims, reviewing audits, managing the claims process, arranging dividend plans, designing safety groups, and doing safety reviews with you are different tools that we have done with our clients that have shown positive results. We also take pride in finding the most competitive programs available for our clients to place their Workers' Compensation coverage.

Black Bear Insurance Agency was founded by a workers' compensation company and we know that our expertise in this coverage adds value to the service we provide our clients. We created another website that provides this information and is a resource for business owners on workers' compensation insurance in the the state of Florida. Please visit this website, FloridaWC.com, for more information on this type of insurance. Please feel free to fill out our online contact form or call our office to ask us any questions related to Florida workers' compensation or any other types of insurance coverage that we offer.

No two business are exactly the same and each business has unique risks. Black Bear Insurance Agency patners with businesses in Florida to assist in putting together an insurance program tailored to your individual needs and budgets. The licensed insurance agents at Black Bear make this process as smooth and quick as possible. We work with you to understand your business and the risks you face. We will review the coverages available to protect you and offer competitive rates. As one of Black Bear's client, you can trust us to handle your insurance while you focus more fully on running your business.

Black Bear Insurance Agency is proud to be a part of the following organizations for independent insurance agencies.