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Thursday, January 4, 2024

Top 5 Things To Know About Your Business Insurance

 Having the right insurance in place is a key to your company's success. It helps protect your profits by protecting you from sudden, catastrophic expenses, like after a natural disaster or a major lawsuit.

#5 What is a Business Owner’s Policy?

A business owner’s policy or “BOP” is insurance coverage designed specifically for small or medium-sized businesses. A BOP combines several types of insurance coverage in a packaged format, and can be customized to suit a particular business.

#4 Does Insurance Cover Lawsuits Brought Against Your Business?

Business insurance will cover legal expense from lawsuit up to your liability insurance policy limit.  To be sure that enough liability coverage is in place for extreme circumstances lover $1 million in damages, many businesses buy a commercial umbrella liability policy. Certain liability exclusions also apply, such as if an injury or damage was expected, or was caused intentionally. Most policies also have something called a “workmanship” exclusion, and some exclude coverage of punitive damages, so you may need Errors & Omission Coverage for “your work”.

#3 What Types of Business Insurance Do I Need For My Business?

Each Business is different and depending on your operations, you may be legally obligated to carry certain coverages.  In addition, the following types of business insurance should be considered essential:

General liability: Coverage against accidents, injuries and negligence

Product liability: Coverage against product defects

Professional liability: Covers professionals against malpractice, negligence or errors

Commercial property: Covers damage to your business property, such as fire or a severe storm

Business interruption: Protects your business if you are no longer able to conduct your operations because of a loss

Home-based business: Covers general and/or professional liability.

#2 Is Business Insurance Tax Deductible?

Business insurance is tax deductible, as long as the coverage is for the purpose of operating a business, profession, or a trade.

#1 How Does Business Insurance Work?

Business insurance is a contract between an insurance company and a business. The insurance company agrees to share the risk with the business entity in exchange for premium payments. In the event of a covered loss, the insurance company pays for the financial losses the business incurs up to the limit of the policy after the deductible amount is paid by the business filing a claim.

 At the time of a loss, the business will file a claim, and an adjuster will assess the damage and process the claim settlement based on the terms of the policy contract.

Angelyn Treutel Zeringue is President of SouthGroup Insurance Services, a CPA, PWCAM, CBIA, and licensed Trusted Choice Insurance Agent.  Reach Angelyn at, (228) 385-1177, or

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, if you are on the Gulf Coast, contact your Trusted Choice agent, SouthGroup-Gulf Coast , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Melissa Dunn, Alex Treutel,  Anne Gillam, Mark Strickland, Joseph Eagle, Michael Scardino, Melinda Teaford, Wendy Butler, Gabriella Scardino and Brittany Eagle at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email:, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook , or Twitter ! We now have more locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

We serve Mississippi, Louisiana, Alabama, Florida, and many other states. We specialize in coastal exposures.
Insurance is stressful, but we make saving easy.  We help you save money on insurance!
#trustedchoice #southgroup

#southgroup   @stateauto  @libertymutual @TRV_insurance @safecoinsurance @progressive #savemoney @atreutel 

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