A premium is the price of protection. It reflects (a) how likely a loss is and (b) how much the policy may pay if a loss occurs. Common drivers include:

• Coverage and limits: Broader coverage or higher limits increase cost; added endorsements also raise price.

• Deductible/retention: Higher deductibles usually lower premiums; lower deductibles raise them.

• What is insured (exposure): Home or building value and square footage; number of vehicles and annual miles; payroll, revenue, and headcount.

• Risk characteristics: Location, building age and construction, security features, driver records, and—where permitted—credit-based insurance scores.

• Loss history: Frequent or severe past claims typically increase price; clean records can reduce it.

• Operations and use: Higher-hazard work, heavy driving, or subcontracting generally cost more.

• Safety and controls: Alarms, sprinklers, telematics, training, and written safety programs may earn credits.

• Market conditions: Inflation in repair and medical costs, reinsurance pricing, and catastrophe trends affect all buyers.

Premiums vary by carrier and policy type; review coverage annually or after major changes.

Yes. An LLC limits owners’ personal liability for business debts, but it does not pay for losses or lawsuits. Insurance protects the company (and, in some cases, you) from the cost of claims and interruptions. Key points:

• Liability still exists: Third parties can sue the business for injury, property damage, or errors. Without insurance, the company funds defense and judgments.

• Contracts require it: Landlords, clients, and lenders often mandate specific coverages and limits regardless of entity type.

• Personal exposure can persist: Owners may be liable for personal negligence, signed guarantees, or if corporate formalities are not followed.

• Common policies: General liability, professional liability, property and business income, workers’ compensation (if you have employees), commercial auto, cyber, and umbrella.

• Bundled option: Many small LLCs qualify for a Business Owner’s Policy (BOP) that combines property and liability at a competitive cost.

 The LLC is a legal structure; insurance is the financial backstop. Most LLCs still need coverage tailored to their operations, assets, employees, and contracts.

Business insurance protects (a) your liability to others and (b) your property and income. The exact protection depends on the policies you select. Common components include:

• General Liability: Injuries to others, damage to their property, and personal/advertising injury (e.g., libel).

• Commercial Property: Your building, contents, equipment, and inventory against covered causes (e.g., fire, theft, wind/hail).

• Business Income & Extra Expense: Lost income and expenses to keep operating after a covered property loss.

• Workers’ Compensation & Employers’ Liability: Employee injury/illness benefits and related employer liability.

• Commercial Auto (including hired/non-owned): Liability and physical damage for business vehicles or employee use.

• Professional Liability (E&O): Claims alleging financial loss from your professional services or advice.

• Cyber Liability: Data breaches, ransomware, and related business interruption and response costs.

• Employment Practices Liability (EPLI): Allegations of wrongful termination, discrimination, or harassment.

• Umbrella/Excess Liability: Additional limits above primary liability policies.

• Other options: Inland marine (mobile equipment & tools), crime/fidelity (theft & embezzlement), pollution/environmental, directors & officers (D&O).

Not typically covered unless added: Flood or earthquake, wear and tear/maintenance issues, product recall, and contractual obligations beyond the policy terms.

Coverage varies by policy and carrier. Review your declarations, exclusions, and endorsements to confirm what is (and is not covered).

A Certificate of Insurance (COI) is a standardized document that summarizes an insured’s active policies for a specific moment in time. It serves as proof of insurance to third parties (e.g., clients, landlords, general contractors, vendors).

What a COI shows:

• Named insured and insurer(s)

• Policy types (e.g., general liability, auto, workers’ compensation, umbrella)

• Limits of liability and effective/expiration dates

• Certificate holder and any requested notations

Important limitations:

• A COI is for information only; it is not an insurance policy.

• It does not add or change coverage, grant additional insured status, or waive subrogation by itself. Those rights exist only if the policy includes the proper endorsements.

• Actual coverage is governed by the policy and its endorsements, not by wording in the COI’s description box.

Best practice: When contracts require specific terms (e.g., additional insured or waiver of subrogation), request copies of the endorsements or the Schedule of Forms and Endorsements to verify compliance.

Inland marine insurance is commercial coverage for movable property, equipment, and goods when they are in transit, on job sites, or away from your main location. It fills gaps that standard property policies (which focus on a fixed address) may not cover.

Common examples

• Contractors’ equipment and tools (on trucks or job sites)

• Installation floaters (materials from purchase through installation)

• Builder’s risk (structures under construction)

• Bailee’s coverage (customers’ property in your care: e.g., repair shops, cleaners)

• Motor truck cargo (freight you haul)

• Fine art/exhibitions, accounts receivable, signs, and EDP/tech equipment

How it typically works

• Often written on an “all-risk” (open-perils) basis, subject to exclusions

• Can be scheduled (itemized) or blanket (a pool of similar items)

• Limits should reflect replacement cost and peak values while on the move

Note: Wear and tear, mechanical breakdown, and faulty workmanship are usually excluded unless specifically endorsed. Review your policy forms to confirm what is, and is not, covered.

Loss control is the practice of preventing or reducing the frequency and severity of losses before they become claims. It blends hazard identification, risk assessment, and practical fixes across people, property, and operations.

Core elements

• Assess: Inspections, trend and claims analysis, and hazard mapping.

• Control:

  • Engineering controls (e.g., machine guards, sprinklers, ventilation).

  • Administrative controls (e.g., written policies, training, safe-work procedures, supervision).

  • Technology (e.g., telematics, sensors, alarms, camera/AI tools).

• Compliance: Align with standards such as OSHA, NFPA, DOT, and local codes.

• Risk transfer: Contracts, certificates, additional insureds, and waivers where appropriate.

• Monitor & improve: KPIs, near-miss reporting, audits, and corrective actions.

Examples: Driver safety programs, slip-and-fall prevention, heat-illness plans, cyber hygiene, and contractor qualification.

Result: Fewer incidents, less downtime, improved insurability, and a lower total cost of risk.