Glossary

Otterstedt Insurance offers flexible solutions for any sized companies.

We are dedicated to providing benefit solutions designed, priced and administered to fit the specialized needs of companies both large and small.

Here are just some of the coverages we can provide for your business:

  • General Liability (CGL)
    Policy provides coverage for the following:

    • Personal Injury
    • Fire Legal Liability, this protects you in the event you lease your business space and your negligence results in fire damage or loss to your landlord’s property.
    • Products and Completed Operations
    • Medical Expense or Medical Payments
    • General Liability for your premises. For example, someone is injured on your business premises, resulting in injury or loss.
  • Building Insurance
    Coverage is required if you either own the building or are required contractually to provide coverage for it. In the event you lease the premises, your landlord should provide this coverage.
  • Business Personal Property Insurance
    Includes your tables, desks, chairs and equipment. Also included is any improvements you make to your leased premises.
  • Business Interruption Insurance
    Compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire. Business interruption insurance covers the profits you would have earned, based on your financial records, had the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.
  • Commercial Auto
    There are a variety of coverages for your commercial autos, and we can help you choose the right one. The discussion should include business-use autos, pickups, vans, trucks and non-owned and rented vehicles. You may also want to include a conversation about “non-owned” vehicles — covering when an employee uses their own car to run a company-related errand, or when an employee, traveling on company business, rents a car.
  • Workers’ Compensation
    Provides benefits for injured workers as required by state law regardless of who is at fault for the injury or illness. In other words, whatever benefits your state requires, your Workers’ Compensation policy would provide.
  • Employee Benefits:
    Health Insurance

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