Business Insurance

Insurance for Your Business World

One of the great perks of insuring your business with MKI is our knowledge and expertise working with businesses of many sizes and personalities. We understand the pressures and deadlines you need to make and realize that your time is valuable. This is why it is important to have an intelligent agent who can quickly and efficiently manage your business accounts as well as get back to you on a timely basis. Here at MKI we will make the right recommendations and then effectively implement them into your business insurance plan. MKI has the experience and commitment to work for you no matter how big or small your business is. The less you have to worry about your insurance, the more you can concentrate on your own business and goals.

Business Owners Policy (BOP)

This package policy is tailored by MKI for small and medium sized business owners. It covers property and liability exposures as well as a loss of income. This means that if there was a fire or other sort of property damage to your business and it is unable to operate until damages were repaired, your BOP would compensate your monthly earnings as well as cover your payroll for up to twelve months. Purchasing a BOP is a good idea because it provides a complete coverage for a lower price when compared to separate policies for the same coverage.

Commercial Package Policy

We bet you’ve heard the term package pricing. But how can it impact your business. Having all of the necessary policies with one agent can mean critical savings and better management of accounts. We are also focused on cost saving, so if you have an existing plan, let us shop it with our companies.

Workers’ Compensation

Workers’ compensation insurance pays for medical care and rehabilitation for employees who are injured on the job or contract a work-related illness. Workers’ compensation also covers disability benefits, a portion of an employee’s lost wages as well as death benefits for dependents of employees killed in work related accident. We have many markets to quote many different kinds of insurance.

Commercial Auto Insurance

Commercial auto insurance provides coverage for company owned vehicles in the event of an accident that causes bodily injury or physical damage. Coverage can be for cars, trucks, buses or other types of vehicles. A common endorsement (which is a specification added to an existing insurance policy to modify its coverage) to commercial auto coverage is employers’ non-ownership and hired auto liability insurance. Employers’ non-ownership coverage would protect an employee’s personally owned vehicle if he or she needed to use it for work and got into an accident. Hired auto liability insurance is an option that would protect a rented vehicle for business use as long as it was rented for less than 30 days.

General Liability Insurance

This policy covers your business if it is sued for something the business did, or failed to do, and resulted in a bodily injury or property damage. This kind of protection can also compensate for any damages and/or settlements stemming from a lawsuit, up to the policy limits. In addition, general liability policies can cover attorneys’ fees and other costs associated with lawsuits.

Professional Liability Insurance

This policy is specialized for each type of business MKI insures. Coverage is assigned according to the amount of risk a client might have doing their business. It can protect you against financial losses from lawsuits filed against you by your clients. At MKI, we write a variety of professional liability insurance. Please contact us for further information regarding this policy.

Builder’s Risk Insurance

Building a new house or office building? THINK MKI. We have some great companies who offer some of the best rates in RI and MA. Renovating? This type of policy also covers a building during the course of construction or renovation. Builder’s risk insurance not only protects the building, it also protects building materials in transit, building materials at temporary locations, soft costs, and rental income. In addition, the policy covers the costs of labor and materials for new construction.

Directors & Officers (D&O) Liability Insurance

This form of insurance is for directors and officers of a company or a corporation in order to cover damages or defense costs in the event they are sued for wrongful acts while they were with that company. This type of liability insurance is also available to not-for-profit and private organizations. For not-for-profit organizations, private organizations, and for some small companies, coverage is often extended to employees in addition to the directors and officers of that company.

Employment Practices Liability Insurance

This policy provides protection for an employer against claims made by employees, former employees, or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations. This policy will reimburse your company against the costs of defending a lawsuit in court and for judgments and settlements. It also covers legal costs, whether your company wins or loses the suit.

Liquor Liability Insurance

A Liquor Liability policy covers the legal liability imposed on a business that sells, distributes, manufactures, or serves alcoholic beverages. This type of insurance can protect your business against loss or damages claimed as a result of a patron of your business becoming intoxicated and injuring themselves or others. Some examples of businesses that should carry liquor liability insurance include bars, restaurants, hotels, motels, liquor stores, convenience stores, and grocery stores that sell liquor.

Special Events Liability Insurance

Special events liability coverage is a commercial general liability policy designed to provide insurance for the organization hosting an individual special event. Examples of some special events are concerts, arts and crafts shows, fundraisers, carnivals, golf tournaments, conferences/conventions, and festivals. Contact one of our agents for further information on coverage available for different events.

Surety Bonds

Ask us about Surety Bonds. We have binding authority with many companies. Fast and Easy, many can be done over the phone.

MKI: Since 1936