Business Owner's Insurance

Business Owner’s Policy

No matter what your business is, a restaurant, professional office, contractor or anything in between, having the right insurance is critical.

Penny Insurance Agency has been working with business owners throughout Western North Carolina and Upstate South Carolina for over 80 years, and is now licensed in Georgia and Florida for your business needs. We understand risk and work with our clients to help them reduce their exposure and protect their business.

As an Independent Insurance agency, we represent multiple top rated insurance companies. That gives us the ability to design the best insurance program for your specific business. Whether you are a manufacturer, contractor or main street retail store, the professionals at Penny Insurance Agency can help you design a cost effective insurance program that will help you sleep at night.

General Liability, Building coverage, Business Auto and Worker’s Compensation are all types of insurance most people know about. But in today’s world it is becoming just as important to know about Employment Practices Liability, Cyber Liability, Directors & Officers liability, Tools & Equipment coverage, Systems Breakdown and more. That is why it is so important to work with a professional insurance agent who can help to determine your needs and design an insurance program to address them.

Wherever your business is located, we can help. Call us today or fill out the contact form and let’s get started designing your insurance program.

General Liability Insurance

You went into business for a reason. You want to do good work for your clients and customers, and be profitable while doing it. The last thing you want to worry about is a fire, theft, or vandalism at your place of business. Or, heaven forbid a customer or someone visiting your office getting injured while on the premises.

These occurrences can and do happen, and they can quickly turn the joy of having your own business into a challenging situation. That’s why general liability insurance is one of the most pervasive policies on the market today. It provides invaluable protection and coverage to you and your business. General liability insurance protects commercial insureds from most liability exposures other than automobile and professional liability.

At Penny Insurance, our agents can create a customized policy to suit your business needs. Going beyond the financial limits of the policy, your general liability can cover supplemental payments for attorney fees, court costs and other expenses associated with a claim or the defense of a liability suit.

You’ve put a lot into making your business a success. Let us help you keep it that way

Employment Practices Liability Insurance

Let’s face it. Running a business isn’t for the faint of heart. It can be both rewarding and challenging – all in the same day! Whether you are a small business of two, or a mid-size to larger corporation of 50 or more, you have employees. They have the potential to be your biggest asset and look to you to provide their employment and benefits. Unfortunately, this relationship can be a tenuous one, and at times employees may feel mistreated or wronged by you as their employer.

Having Employee Practices Liability insurance will provide you as an employer with the protection you need from claims made by employees, former employees, or even potential employees. Not just for owners, this coverage can also apply to high-ranking officers.

Employee Practices Liability insurance will provide coverage from:

• discrimination (age, sex, race, disability, etc.)
• wrongful termination of employment
• sexual harassment
• and other employment-related allegations

We all like to think we won’t find ourselves in a situation with a disgruntled employee. Unfortunately, it could happen and even more important, it could threaten your company’s financial stability. Let Penny Insurance help you. We will be happy to assess what’s appropriate for you and your business. Call us today to get started.

Directors and Officers Insurance

Our community is rich with organizations that provide valuable service to others. Whether it’s a nonprofit organization, a for-profit business, a privately held firm, or an educational institution, they likely have a board of directors or officers who provide volunteer or paid service to the organization.

As a board member or director, you more than likely view your service to that organization as an honor. You are happy to serve and do all that you can to provide guidance and support to an organization of your choosing. Your service carries a certain level of responsibility. The organization you serve understands this and as such, should make every effort to protect you from claims made against the organization during your term of service.

A “D&O” Policy essentially functions as “management errors and omissions liability insurance,” covering claims resulting from managerial decisions that have adverse financial consequences. The work and service you provide as an officer or director is valued and important work. At Penny Insurance, we can make sure that it’s protected like the valuable asset that it is.

Excess Liability Insurance

Sometimes we could use a little extra protection. Sometimes, the liability insurance we have for our business just isn’t enough and we need an additional layer. Often called an Umbrella Policy, Excess Liability insurance is issued to provide limits in excess of an underlying liability policy. What that means is that should your business have a crisis or unexpected issue that threatens its financial security, your Umbrella or excess liability insurance comes to the rescue.

Condominium and Homeowners Association Insurance

COAs and HOAs have special situations when it comes to insurance and each one is different. Condominium Owners Associations usually own common property such as the buildings, walk ways, fitness centers and swimming pools. Each associations also has bylaws specific to the association that determine what is commonly owned and what is individually owned. That is why it is so important to work with a professional insurance agent who has the ability to tailor an insurance program specific to your association. Coverages such as Property, Liability, Worker’s Compensation and Directors & Officers Liability are critical to maintaining the value of your investment.

Homeowner’s Associations have similar risks to Condominium Owners in that there is often common property such a gazebos and playgrounds that could that are owned by the association. The association may employ someone to keep up the common areas by mowing grass, pruning trees, etc. Liability insurance is critical for an association and in many cases property insurance and worker’s compensation insurance is needed as well.

Business Auto Insurance

For many business owners, your office goes beyond the four walls of your building. When you’re out visiting clients or making business sales calls in your company vehicle, you’re essentially giving your office legs. Making sure that one of your business assets is safe and protected is a priority that we hope you won’t ignore.

With a Business Auto policy in place, you can protect your investment during daily operations like:

• deliveries of food and products (florists, caterers)
• transport to wholesale and retail buyers
• transporting people to places near and far (event transportation)
• repair pick-ups
• retail delivery from store to customer

Call us today to find out how to protect your mobile business asset.

Garage Insurance

Penny Insurance Agency has the versatility and flexibility needed to make sure that you and your business are properly protected. We represent multiple companies who offer industry leading Garage Insurance programs, providing broad coverage at competitive rates and with excellent claims service.

Types of Garage operations:

• Auto Dealers
• Repair Shops
• Service Stations with Auto Repair
• Franchised Motorcycle Dealers
• Recreational Vehicle Dealers
• Farm Implement Dealers

Garage Coverage Parts:

• Garage Liability
• Commercial General Liability
• Dealer’s Blanket
• Garage Keepers

Garage Liability provides coverage for the your premises, operations, work performed and products. Garage Keeper’s provides coverage for customers automobiles, farm implements or mobile equipment in the care, custody and control of the insured for repair, storage or safekeeping.

Dealer’s Blanket provides coverage for automobiles, farm implements or mobile equipment that are held for sale, held pending delivery after the sale, or used in the business of a dealer.

To learn more and to get started, call us today. 

Environmental Liability Insurance

A business can be exposed to risk on so many levels, one of which is as a result of potential environmental liabilities associated with owning or operating facilities or sites. As both a buyer and seller of a property, having environmental liability insurance protects both in a merger or acquisition situation. Even with the best of intentions, potential pollution can be discovered after the property is purchased. Having the right insurance in place can make that discovery a minor blip on the screen rather than a complete shutdown in production.

There are many types of environmental liability insurance, many of which can be tailored to the specific needs of real estate portfolio managers and owners; real estate investment trusts (REITs); schools, colleges and universities; general manufacturing companies; commercial property owners and developers; and municipalities. Contact us today to get started.

Cyber Liability Insurance

Your business data is essential to your operations. It’s part of your competitive edge. Any size business can have its data breached or stolen. Think of your doctor’s offices, retail shops, your contractors, salespeople, and most any other profession today keeps business–and sometimes personal–information stored electronically.

General liability, property, business income and crime insurance–the “traditional” forms of insurance you may carry now–are usually designed to cover losses to tangible property. Since information is intangible, the insurance your business currently buys will not generally cover those losses. Cyber Liability insurance is the only type of insurance created specifically for the event of electronic data theft. Some types help cover any costs you might incur while trying to restore it, including lost income. Some types cover liability in the event that you’re sued by customers or other victims of the data breach. Our agents are ready to help you determine which one is the best fit for your business.