Flood Insurance in Derby, VT

Floods can wreak havoc on your property and incur severe financial consequences. Furthermore, these potentially devastating incidents are among the most common ones that affect U.S. homeowners and may arise from many situations, including heavy rainfall and rapid snowmelt. Given the frequency of floods and their potentially devastating ramifications, securing suitable insurance coverage should be a top priority.

What Is Flood Insurance?

As its name suggests, this type of coverage is a specialized form of property insurance designed to offset financial losses caused by floods. This type of coverage fills a common coverage gap for many homeowners, as standard U.S. home insurance policies explicitly exclude floods as a covered peril. This means that unless you augment your coverage with flood coveage, you may need to pay for repairing your home and replacing your belongings out of pocket.

Do I Need Flood Insurance?

As noted, flood policies are typically excluded from standard home insurance policies, making it an advisable addition for most homeowners. However, there may even be times when coverage is required. Consider the following scenarios when you’re beholden to formal obligations:

• Suppose you’ve purchased your home with the assistance of a federally backed mortgage and are located in an area classified as being at high risk of flooding. In that case, coverage is typically required as long as your loan remains outstanding.
• Suppose you’ve received flood-related aid from the Federal Emergency Management Agency in the past. In that case, you’ll typically need to retain a flood policy if you wish to remain eligible to access additional resources in the future.

How Much Does Coverage Cost?

Your rates may ebb and flow depending on a multitude of criteria. Many carriers may consider the following:

• Location
• Structural details (e.g., age, building materials used and number of floors)
• Estimated cost of a full rebuild
• Value of insured contents
• Lot details (e.g., topography)
• Claims history
• Policy specifications (e.g., limits and deductibles)

We’re Here to Help

Contact the Taylor-Moore Agency today to learn more about flood coverage or compare personalized quotes.

Farm Insurance in Derby, VT

Farm operations often involve significant risks and dangers. Between working with animals, operating heavy machinery, enduring unpredictable weather and other constant concerns, risk management and loss control must be top priorities for even the most experienced farmers. Farm insurance may therefore be among the most important investments you ever make.

What Is Farm Insurance?

Although a common term, farm insurance doesn’t typically refer to a single product available from all carriers. Rather, you might need to combine several types of policies, each equipped with its own coverages and financial protections, to sufficiently address relevant risks and exposures. Even when raising the same animals, growing similar crops or operating farms of similar size, every farmer has unique coverage needs. Assembling a suitable farm insurance package requires careful consideration of your specific circumstances.

What Should My Insurance Cover?

As you think about your farm’s insurance needs, you’ll want to familiarize yourself with many types of coverage. Understanding your options and selecting the right products can establish sufficient financial protection, while also potentially optimizing cost-effectiveness. Consider investing in the following types of insurance:

• Farm property insurance may cover barns, silos, fences, sheds, equipment, tools and inventory against many common incidents, such as fires, theft and vandalism.

• Farm liability insurance may help you manage the fiscal implications of situations where you’re at fault for other parties’ losses, such as if one of your animals injures a visitor or crops you’ve distributed cause someone to become ill.

• Livestock insurance may compensate you if your animals are stolen, injured or killed in covered incidents, such as fires, floods and loading accidents.

• Workers’ compensation insurance may be required by law and can help offset losses and expenses if your farm’s employees are injured or become ill on the job.

• Commercial auto insurance is also often legally mandated and can cover incidents involving your farm’s vehicles.

Learn More

The team at Taylor-Moore Agency is well-equipped with the knowledge and experience to help local farmers address their insurance needs. Contact us today to learn more or compare personalized quotes.

Golf Cart

Commercial Umbrella Insurance in Derby, VT

Commercial umbrella insurance is a crucial safety net for businesses, providing additional liability coverage beyond the limits of their primary insurance policies. This type of insurance is designed to protect businesses from significant financial losses due to unforeseen events, helping ensure long-term stability and peace of mind.

What Is a Commercial Umbrella Insurance Policy?

A commercial umbrella insurance policy may offer extra liability coverage that kicks in when the limits of a business’s underlying policies, such as general liability, auto liability or employers liability, are exhausted. This policy can help cover costs associated with legal fees, medical expenses, and damages that exceed the limits of the primary insurance. It acts as a financial buffer, safeguarding businesses from potentially devastating claims and lawsuits.

Do All Named Insureds Need to Be Listed on a Commercial Umbrella Insurance Policy?

Yes, all named insureds should be listed on a commercial umbrella insurance policy to ensure comprehensive coverage. Named insureds typically include the business entity, its owners, and any subsidiaries or affiliated companies. Listing all relevant parties ensures that the umbrella policy extends its protection to everyone involved, reducing the risk of uncovered claims. It’s essential to review and update the list of named insureds regularly to reflect any changes in the business structure or ownership.

How Are Commercial Umbrella Insurance Rates Determined?

Commercial umbrella insurance rates are often determined by several factors, including the type of business, its size, industry, and risk exposure. Insurers assess the business’s claims history, the nature of its operations, and the limits of the underlying policies. Higher-risk industries, such as construction or manufacturing, may face higher premiums due to the increased likelihood of significant claims. The amount of coverage desired and the deductible chosen can also influence the rates. Businesses should work closely with their insurance providers to tailor a policy that meets their specific needs while balancing cost considerations.

Get the Right Coverage

Contact the Taylor-Moore Agency today to learn more about commercial umbrella insurance or to get a free quote.

Workers’ Compensation Insurance

Accidents happen in the workplace, no matter what precautions you have in place. Workers’ compensation insurance is designed to help cover the costs associated with a work-related injury or illness. We’re here to help you sort through business insurance, including workers’ compensation insurance benefits. Contact us today to get started.

What Is Workers’ Compensation Insurance?

Workers’ compensation insurance is a type of business insurance policy that provides benefits to employees if they suffer work-related illnesses or injuries. Workers’ compensation benefits typically include coverage for paying for medical care and lost wages from time missed from work.

Employers also benefit from workers’ compensation insurance, as it can help protect your business from lawsuits and keep it compliant with state regulations.

What Are Workers’ Compensation Benefits?

Workers’ compensation may provide various benefits to employees who experience an injury or illness, including:

• Medical benefits—Employees may receive compensation to cover doctor appointments, hospital visits and medications.
• Wage-loss benefits—If an employee cannot return to work at total capacity, wage-loss benefits may help them supplement their lost income. This benefit may last until the employee has recovered or until the wage-loss benefit limit has been reached.
• Vocational rehabilitation benefits—Employees may receive access to vocational rehab services to help them learn new skills and reenter the workforce after an injury.
• Death/dependent benefits—If an employee loses their life because of a work-related injury or illness, workers’ compensation may help cover funeral costs and lost income. These benefits are typically provided to the spouse or dependents of the deceased.

Worker’s compensation laws vary by state, which may impact the limits and duration of benefits and the type of employers required to have it. Reach out to an agent to discuss specific requirements for your business.

How to Get Workers’ Compensation

We’re ready to help you secure workers’ compensation coverage for your business. Contact Taylor-Moore Agency today for more information or a quote.

Trucking Insurance

All owner-operators and trucking companies must carry commercial auto insurance with adequate liability coverage. This insurance helps protect the owner-operator or motor carrier from liability lawsuits if the truck driver causes an accident resulting in third-party injuries or property damage.

Contact us today to learn more about the commercial truck insurance your organization needs and get a personalized quote.

Why Do Truck Drivers Need Commercial Truck Insurance?

Federal law requires motor carriers and owner-operators to purchase public liability insurance for their DOT-regulated commercial motor vehicles. However, regardless of DOT regulations, most states require all tractor trailers to have commercial auto coverage, even for leased units. Your options for commercial truck depend on the needs of your trucking business, the truck driver and the type of goods you haul.

Commercial Trucking Insurance Coverage

The liability insurance portion of a trucking insurance policy helps pay for third-party injuries and property damage caused by the truck driver. With a commercial liability policy, there are two types of liability coverage:

• Bodily injury liability insurance helps cover medical bills if other people involved in the accident are injured and the tractor trailer driver is at fault.
• Property damage liability insurance helps pay to repair or replace someone else’s property after an accident caused by a commercial truck driver.

An independent insurance agent can help you determine which types and amounts of insurance may best serve your trucking business. They can help you choose from several commercial truck insurance providers. Your agent may also recommend additional commercial truck policies to help protect your business.

Other coverages under commercial auto insurance include:

• Comprehensive insurance. This coverage may help pay for damages to the tractor trailer unrelated to an accident, such as weather damage, fire or vandalism.
• Collision insurance. This policy may help repair or replace the tractor trailer after an accident.
• Medical payments. This coverage may help cover medical bills up to a specific dollar limit if a passenger or the tractor trailer driver is injured in an accident. It could also cover lost income.
• Uninsured/underinsured motorist insurance. This policy may help pay to repair or replace a tractor trailer after an accident caused by an uninsured or underinsured third party.

What Types of Commercial Truck Insurance Are Available for Tractor Trailer Drivers?

Your agent may recommend the following additional commercial trucking insurance policies, depending on your situation:

• Trailer interchange. This policy helps pay to repair or replace a trailer when someone other than the owner uses it.
• Bobtail. This policy helps cover damages caused when the truck does not have a trailer attached
• Cargo insurance. This policy helps cover financial loss incurred from damaged or lost cargo.

Get the Trucking Insurance You Need Today

At Taylor-Moore Agency, we understand that tractor trailer owners and drivers have specific insurance needs. Contact us today to learn more about how insurance can help provide financial protection for your trucking operation and to get a quote for truck insurance.

General Liability Insurance

Commercial general liability insurance can cover your business and clients by providing financial assistance when the unexpected happens. Our team can help you secure the insurance your business needs. Contact us today to get started.

Commercial General Liability Coverages

Commercial general liability insurance typically provides coverage for:

• Third-party property damage. Commercial general liability insurance may provide repair or replacement costs if your business is responsible for damaging others’ property.
• Third-party bodily injury. Commercial general liability coverage may pay for medical expenses if your business is responsible for a third-party bodily injury (e.g., an injury occurring at your business).
• Personal and advertising injury. Commercial general liability insurance may provide coverage if your business is sued for a personal or advertising injury (e.g., slander, libel or copyright infringement).

In addition to providing compensation for damages, commercial general liability insurance may pay associated legal fees (e.g., attorney fees, settlements and judgments). Speak with your agent for more information on coverages, limits and exclusions.

Why Commercial General Liability Insurance Is Important

Although commercial general liability insurance typically isn’t required by law, some business licenses may require coverage. Or a landlord may require proof of insurance before offering a lease.

Commercial general liability coverage may also help you avoid paying for unexpected losses out of pocket. Reach out to your agent for additional information on how commercial general liability insurance may mitigate your business’s risks. We can help you secure the coverage that is right for you.

How to Get Commercial General Liability Insurance

Our team can help you obtain your commercial general liability insurance policy. Contact us today for additional information or a quote.

Cyber Liability Insurance in Derby, VT

In an increasingly digital world, understanding and accounting for cyber risks and exposures should be a top priority for businesses. Risk profiles have changed as online solutions, cloud-based integrations, and other technological advancements have taken root in workplaces. Adjusting risk management and loss control measures accordingly is essential. Fortunately, a cyber liability insurance policy can help with these needs.

What Is Covered Under Cyber Liability Insurance?

Also known as cybersecurity insurance and cyber insurance, these policies can provide multifaceted financial protection against potential hackers and data breaches. Phishing messages, malware infections, ransomware attacks and other cyber incidents can all cause devastating damages to uninsured businesses. Conversely, by having coverage, your company can rely on financial assistance in these situations. Specifically, your policy may help pay for the following:

• Incident response costs—This may include expenses related to notifying affected parties and investigating the cause of a breach.
• Hiring outside help—If you need to hire IT contractors or a public relations firm following a cyber incident, your policy may help cover costs.
• Business interruption losses—Cyber incidents may disrupt your company, but your insurance can assist with recouping lost revenue.
• Noncompliance fines—Your policy may help pay for fines issued by regulatory bodies following a cyber incident.
• Legal expenses—If your company is sued following a breach, your policy may cover losses and costs, including hiring attorneys and paying settlements and judgments.

How Much Does Coverage Cost?

Your cyber liability insurance rates may be influenced by the following criteria:

• Industry

• Number of employees

• Data use details (e.g., types and amounts you work with)

• Claims history

Why Do I Need a Policy?

Cyber liability insurance policies are a critical component of many business insurance packages. Given technology’s increasing prominence in most workplaces, this type of coverage may be just as crucial as those addressing physical risks and losses. Even small- and medium-sized businesses cannot afford to cut corners on this type of insurance, as many cybercriminals and hackers have broadened their target selection in recent years.

How to Get Cyber Liability Insurance Near Me

Contact the Taylor-Moore Agency today to learn more about cyber coverage or compare personalized quotes.

Contractors Insurance in Derby, VT

Contractors insurance is a vital safeguard for individuals or companies working in the construction industry. It encompasses various types of coverage designed to protect contractors from financial losses resulting from unforeseen circumstances during projects. Understanding and obtaining the right coverage is essential for mitigating risks and ensuring the success and longevity of construction projects.

What Does Contractors Insurance Cover?

The following are common types of coverage included in a contractors policy:

1. General liability insurance can financially safeguard contractors against third-party claims involving bodily injury, property damage or personal injury arising from their operations on a job site or at their place of business. It may cover legal fees, third-party medical expenses, settlements or judgments resulting from such claims.
2. Completed operations liability insurance may financially cover third-party claims of bodily injury or property damage related to work that the contractor completed.
3. Workers’ compensation insurance can benefit employees with work-related injuries or illnesses. This coverage may include medical expenses, lost wages, disability benefits and rehabilitation costs. It may also offer protection to employers against lawsuits filed by injured employees.
4. Property insurance can financially protect physical structures and their contents, such as buildings and garages, from risks like fire, theft, vandalism or severe weather. It can assist in covering the costs associated with repairs or replacement.
5. Contractors equipment floater may be added onto a policy to cover tools and moveable equipment financially after damage, theft or loss.
6. Builders risk coverage is geared toward construction projects in progress. It can help cover the cost of damage to structures, materials and equipment resulting from a covered incident.
7. Professional liability insurance can protect contractors who provide professional services or advice. It may help cover claims related to negligence, errors or omissions in areas such as design, project management, or consulting services. Professional liability insurance is crucial in the construction industry, where mistakes can have significant financial consequences.

How Much Is Contractors Insurance?

The cost of contractors insurance can vary widely depending on several factors, including the size and scope of the construction business, the types of projects undertaken, the coverage limits desired, the location of operations, the claims history and the chosen insurance provider.

How to Get Contractors Insurance

Contact Taylor-Moore Agency today to discuss your contractor insurance needs.

Commercial Property Insurance in Derby, VT

Commercial property insurance is a vital component of a business insurance policy, offering coverage against potential financial losses from damage or destruction of physical assets. This type of insurance can financially cover properties, including buildings, equipment, inventory and furniture, helping to ensure that businesses can recover and continue operations after unexpected events.

Key Coverage Areas

The following are key areas of coverage for commercial property insurance:

• Building coverage—This includes the physical structure of the business premises. Whether owned or leased, the building itself is protected against risks such as fire, vandalism and select weather events.
• Contents coverage—This aspect can financially cover the contents within the building, such as office equipment, furniture and inventory. It can help ensure that the business can afford to replace or repair items if they are damaged or destroyed.
• Business interruption insurance—Often included in commercial property insurance policies, this coverage can help businesses recover lost income and manage ongoing expenses if they are forced to halt operations temporarily due to a covered event.
• Additional coverages—Depending on the policy, additional coverages might include protection against specific risks like earthquakes, floods or equipment breakdowns. Businesses can tailor their policies to address unique risks associated with their industry or location.

Importance of Commercial Property Insurance

For businesses, commercial property coverage serves as more than just a financial safety net; it is a strategic investment. It can offer peace of mind by helping to ensure that the business is financially safeguarded against unexpected events that could otherwise result in severe financial strain or even closure. By helping to cover the costs of repairs, replacements and lost income, this insurance can help businesses maintain stability and continuity.

Choosing the Right Policy

Selecting the right commercial property insurance policy typically involves assessing the specific needs and risks of the business. Factors to consider include the value of the property and contents, the location of the business and the types of risks most likely to affect it. Consulting with an insurance professional can help businesses navigate these decisions and ensure they have comprehensive coverage.

Learn More

Contact Taylor-Moore Agency to discuss your commercial property insurance options today.