Homeowners Insurance

The biggest investment most people make in their lifetime is the purchase of a home. Homes come in all shapes and sizes: condominiums, co-ops, old landmarks and newly built structures. Whether you own or rent, a home is a major investment, both financially and emotionally. If something disastrous should happen, you'd want insurance protection that is broad enough to help you repair or rebuild your home and replace its belongings. That is why it is important to make sure that you are properly insured to protect that sizeable asset.
Homeowner's insurance provides protection for an owner-occupied property and includes coverage for the dwelling, other structures, personal property (i.e furniture, clothing, appliances, etc), and loss of use if a covered loss occurs and you need to find temporary housing while repairs are being made to your home. This coverage can be written to include guaranteed replacement cost on both the building and contents.
A homeowners policy also provides personal liability coverage if you are sued for a negligent act, or if someone hurts themselves on your property. The liability component also extends well beyond the boundaries of your home. Should you be found legally at fault for injury or loss to another individual, whether you unfortunately caused a tumble down a flight of stairs or a fall in the garage, that is the personal liability portion of your policy that will respond.

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Automobile Insurance
 
Auto insurance is designed to help protect you and your car in the event of an accident, as well as providing for injured parties in an accident where you are at fault. Vermont's Personal Auto policy provides coverage availability for liability, medical payments, uninsured or underinsured motorist liability, comprehensive (“other than collision”), collision, rental reimbursement and towing.
The majority of auto policies settle claims on an Actual Cash Value basis. The value of the motor vehicle is the value of the vehicle at that time of the loss or what it would cost to replace your vehicle with one in similar condition in your area. This may not be the same figure as the selling price of a vehicle of the same year and model because mileage, prior damage, wear and tear are considered when arriving at the actual cash value of the damage vehicle. There are some policies that will offer Agreed Value, which means there is a set value of the vehicle, and the premium is based on that amount. These types of policies are typically more expensive. Consult your agent to find out whether this type of coverage is available from your carrier.
The liability portion of the auto policy has two parts. The Bodily Injury liability coverage applies to injuries you or anyone insured under your policy becomes legally responsible for as a result of an accident. Medical payments coverage pays for reasonable medical expenses incurred by you or by your passengers in your vehicle regardless of who is at fault for the accident.
“Collision” and “Other Than Collision” (also known as Comprehensive) coverages apply to your vehicle. Collision coverage pays for damage to your vehicle as a result of its impact with an object or its upset. “Other than collision” coverage applies to damage of your vehicle cause by vandalism, theft, glass breakage, falling objects, fire, explosion or earthquake, windstorm, hail, water or flood, or contact with bird or animal.

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Valuables
 
Coverage can be provided for your valuable items which might include jewelry, fine arts, guns, furs, cameras, silverware and collections. These items can be scheduled onto your homeowner's, renter's or condominium policies. A recent appraisal of the item is required to show description and current value. This coverage is worldwide and is not subject to a deductible. The homeowner's policy may provide coverage for some of these classes of valuables, but each may have a limit per class, and would be subject to the same perils as your personal property and your policy deductible.

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Renters

Coverage is available to tenants for their own personal property in an apartment or rental unit. This is a necessary coverage for anyone renting as the landlord has no coverage for their tenant's personal property. This policy will provide protection for your personal property, loss of use, personal liability and medical payments to others. The property portion of this policy is subject to a deductible per claim.

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Condo

This coverage is written for the owner-occupied condominium unit providing coverage for the homeowner's personal property, loss of use, personal liability and medical payments to others. It also can include coverage for the unit itself which is based on the exclusions on the Master Policy written for the Association. Usually, the condominium association buys insurance to cover the property (building and structures) and liability coverage for the general association. If you own a condominium, you may be responsible for covering the "walls in" of your unit. This can include but is not limited to the interior walls, flooring, lighting fixtures, and any improvements made to the unit from date of construction. It is best to consult the Association for the details on the By-Laws and advise your agent so they may make the necessary adjustments to your personal policy to avoid any "gaps" in coverage.

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Boat

Coverage can be provided for your boat, motor, trailer and personal effects. This coverage is written based on the Actual Cash Value (ACV) basis and is rated on the value, length, horsepower of the motor and area of use. Also the ages and driving records of the operators will be a factor. Coverage is also available for Uninsured Boaters Liability as well. This includes pleasure boats, pontoon boats and jet skis.

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Umbrella

Personal umbrella liability insurance is designed to protect you and your family against a catastrophic lawsuit or judgment. It provides expanded coverage and increases the amount of your primary liability protection beyond the basic coverage provided under your homeowners/renters and auto insurance policies.
Many people assume their homeowner's and automobile liability policies provide enough coverage to adequately protect their assets in such a situation. However, this is not always the case. Court awards in the millions are not uncommon when tragedies, such as severe injury or loss of life, occur.
Fortunately, there is a way to help protect yourself and your family from events such as these. A Personal Umbrella policy is designed to provide an additional layer of personal liability protection over the limits set by your basic insurance in $1 million increments. The umbrella also provides coverage, which may not be in your basic policies, such as personal injury coverage.

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Business Insurance-Overview

Batchelder Bros. Insurance has been insuring the property and liability of Maine businesses since 1874. We are dedicated to providing the most innovative, value-added insurance program for our customers. Not only do we provide insurance policies but we are continually looking at ways to add value to the risk management service that we provide.

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Business Owners Package Policy

A business owners policy, often called a BOP, combines property and general liability insurance coverage on a single discounted contract. There are several benefits to this policy but it is intended for smaller, less risky commercial accounts. Here is a list of some coverages that may or may not be included in a BOP policy:
•   Damage or destruction to your office equipment or inventory 
•   Loss of income in case you have to close-up shop temporarily because of a covered property loss 
•   Certain business related liability exposures such as bodily injury or property damage caused by your negligence as
    well as libel, slander and even certain offenses arising out of your business's advertising 
•   Risks to your cargo while in transit or storage 
•   Theft or loss of tools and equipment 
•   Crime coverage including robbery, burglary, even employee dishonesty

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Property

Property insurance protects the physical assets of a business from covered causes of loss (i.e. fire, vandalism, smoke, windstorm, lightning, etc). Physical assets of a business include buildings, personal property such as inventory and furniture & equipment as well as computers and cash.
There are numerous consequences that a business could incur if their property is damaged. These property loss consequences include:
•    Reduction in value 
•    Extra cost to replace 
•    Cost of debris removal 
•    Business Interruption (loss of income) 
•    Extra cost to operate 
•    Loss of use value in betterments and improvements

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General Liability

General liability provides coverage for your business if an individual or another business claims your company or your employee was negligent and responsible for bodily injuries, property damage, financial loss, personal injury or advertising injury. Liability insurance can pay not only for the covered damage amount but also for your defense cost.
There are several examples of how a business could be sued for negligent acts. A visitor could slip on your premises. A competitor or customer could sue you for false advertising. A client could sue you for damage to their property while in your care, custody and control. A former client could sue you for libel or slander.

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Professional Liability

Professional liability insurance is designed to pay for economic damages caused by negligent acts, errors, or omissions for which you're legally liable. This coverage protects you if, in your professional capacity, you do or fail to do something that causes a financial loss to a third party. This insurance is often called malpractice or errors & omissions insurance. It covers such professionals as doctors, lawyers, accountants, insurance agents, school board and corporate board members, consultants, teachers. It often covers situations such as:
•    Failure to perform services as requested or designed 
•    Misrepresentation 
•    Failure to make recommendations, or failure of recommendations 
•    Breach of client confidentiality 
•    Unintentional dissemination of false or misleading information 
•    Unintentional infringement of copyright

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Business Auto

Business Auto Insurance provides several optional coverages, which protect the business from financial loss due to liability incurred while driving a vehicle owned, leased, hired or borrowed by the business. Auto insurance can provide coverage for both liability exposure (bodily injury or physical damage that you cause) as well as physical damage to your vehicle. This insurance is needed regardless of whether the business is an association, corporation, partnership or sole proprietorship. Business Auto coverage may be used to insure private passenger autos and all types of trucks, trailers, semi-trailers and commercial vehicles designed for use on public roads.

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Workers Compensation
 
If one of your employees is accidentally injured while on the job or if some condition in your working environment causes one of your employees to become ill or contract a work-related disease, a workers' compensation policy will pay for a wide range of services to aid the injured workers' recovery and return to productive work, including:
•    Medical benefits for a covered injury or disease, including medical, hospital, surgical and other related health care
     costs as well as physical therapy and prosthetic devices 
•    Indemnity benefits including compensation for lost wages 
•    Rehabilitation benefits including services to help an injured worker return to productive work, such as vocational
     rehabilitation 
•    Death benefits including a flat amount for burial expenses as well as partial replacement of the worker's weekly wage. 
     Employers liability coverage provides additional coverage in case the employer is ever sued for damages arising from
     employment-related accidents or diseases.

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Directors and Officers Liability

Individuals who serve as directors or officers of corporations are acting in a fiduciary capacity in that they are responsible for managing the affairs of the organization and must act with due diligence. In the absence of such care causes a loss for the organization or its shareholders or even its creditors, the directors and officers can be held personally responsible. D&O insurance provides coverage for the company, its directors, its managers and officers, and its employees for suits alleging that they were not prudent in their decision making causing financial harm.
Almost any day-to-day decision or action by anyone in the organization can trigger a lawsuit. The most frequent causes of action leading to D&O suits are:
•    Financial Reporting 
•    Conflict of Interest 
•    Loss or bankruptcy 
•    Dishonesty/Fraud 
•    Tender offer for your company or for another company
      Many D&O policies today (especially for non-profits) include employment practices liability coverage. This coverage
      provides coverage for suits in the workplace from employees alleging:
•    Discrimination due to race, sex, age, national origin, religion, disability, or sexual orientation 
•    Wrongful termination 
•    Sexual harassment 
•    Promotions and compensation 
•    Discriminative hiring decisions 
•    Conflicts of interest 
•    Failure to supervise employees

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Employment Practices Liability

Employment practices liability insurance, or EPLI, provides coverage for claims of discrimination based on age, race, gender, disability, and other factors brought by employees or applicants. EPLI also includes employee claims of sexual harassment and wrongful termination.
Batchelder Bros. has access to several carriers that provide EPLI insurance.  Each coverage form is different and it is important that you spend time with your agent reviewing what each form does or does not cover.
BI Sub Tab- Bonds
Bonds are typically distinguished between Surety Bonds, which guarantee the performance of a contract, or Fidelity Bonds, which protect against the dishonesty of employees or persons occupying positions of trust. Most all types of bonds fall into these 2 categories but often have their own names. Listed below are some commonly used bond names with a brief explanation of each.
Today's construction industry is more competitive than ever and more project owners require that their contractors provide them surety bonds guaranteeing their performance of the contract and payment to certain subcontractors and suppliers.

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Contract Bonds

Guarantees the integrity of the various stages of a business relationship: the bid, performance, and payment.

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Court & Judicial Bonds
 
Including plaintiff and defendant bonds, which guarantee payment of damages.

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License & Permit Bonds
 
Governmental bodies can refuse the granting of permits until your business proves that relevant laws, regulations, or ordinances will be complied with. A license or permit bond can prove sufficient, allowing you to proceed.

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Notary Public & Public Official Bonds
 
Guarantees faithful performance of duties according to applicable statutes.

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Probate Bonds
 
Required of administrators, executors and guardians, probate bonds guarantee faithful performance of duties.

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Commercial Umbrella

A Commercial Umbrella Policy can provide you with an additional layer of liability protection over the limits set by your commercial underlying policies (including general liability, auto liability and sometimes even professional liability). This provides protection against catastrophic liability claims. Umbrella limits available are typically in $1,000,000 increments.

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Business Insurance
(Click section for details)

  Personal Insurance
(Click section for details)

Homeowners Insurance
 
Automobile Insurance

Valuables

Renters
 
Condo 

Boat 

Umbrella 

Business Owners Package Policy

Property
 
General Liability 

Professional Liability

Business Auto
 
Workers Compensation

Directors and Officers Liability