Every business has different insurance needs. Let our industry experience guide you through a comprehensive analysis of what risks and exposures your company has and how to insure against those risks. We understand pricing can be a deterrent to purchasing insurance; therefore, we shop several markets to make sure we can provide the most affordable quotes possible with reputable companies in the industry. We take time to explain your insurance coverages so that you can do your business with peace of mind. Our licensed agents are always available to help you and we strive to provide the best customer service possible.

Commercial Insurance Types

A description of various types of commercial insurance coverages is below.  These are not all inclusive and only provide a brief description of intended coverage.  Please give us a call to discuss any of these in further detail or for some claim examples.

GENERAL LIABILITLY INSURANCE

A must have coverage to protect businesses against claims for bodily injury and property damage to a third party for which the business is found liable – up to the policy limits.  Defense costs are covered, but how they are covered can vary depending on the policy.  Most policies also limit the coverage to those classifications listed on the policy and have a number of exposures that may not be covered.  It is important to make sure your policy covers what your company does.

PROFESSIONAL LIABILITY INSURANCE (ERRORS & OMISSIONS)

This protection is designed for companies that provide professional advice or intangible services. It covers claims of negligence; misrepresentation; inaccurate advice; or violation of good faith and fair practice, causing a financial harm to your customer. These policies cover defense costs, even when the claim is proven to be groundless.

COMMERCIAL PROPERTY COVERAGE

This is coverage for damage sustained to an owned building; business personal property, including inventory; or tenant improvements and betterments by a covered peril. Additional coverages such as Business Income, Equipment Breakdown, Ordinance or Law, Debris Removal, and Sewer/Water Backup are important to discuss with your agent, as you could be left paying more out-of-pocket expenses during a claim than you expected. Coverage can be purchased for rented buildings, vacant buildings, or occupied buildings.

CONTRACTOR'S TOOLS AND EQUIPMENT COVERAGE

This is coverage for your tools and equipment on an Inland Marine form, to protect against losses sustained while property is being stored or transported. Coverage can be purchased for equipment rented or leased, as well. Policies vary in their requirement to schedule certain items individually, depending on value.

UMBRELLA / EXCESS COVERAGE

Written over various primary commercial policies, umbrella liability provides excess coverage when the limits on the underlying policies have been exhausted in a claim, as well as possible providing some coverage against claims not covered on the underlying policies.

DIRECTORS AND OFFICERS LIABILITY

This is liability coverage for claims made against a board of director or officer resulting from managerial decisions that have adverse financial consequences. Coverage can be provided to for-profit businesses; privately held firms; not-for-profit organizations; and educational institutions.

WORKERS COMPENSATION INSURANCE

This is mandatory insurance for any company that has employees, in order to provide wage replacement and medical coverage to an employee who may become injured on the job. Many companies inaccurately determine if their workers are employees vs independent contractors—a mistake that can be costly to a business after fines from state and federal agencies; the required retroactive purchase of coverage; or the damages of a lawsuit. Purchasing this coverage waives the right of an employee to sue its employer for negligence.

COMMERCIAL AUTOMOBILE INSURANCE

A commercial auto policy may be required if you have vehicles used primarily for business activities. Some indications that you need a commercial auto policy are if you haul goods; if you transport people; if you carry equipment or have special equipment installed to complete your work; or if you have company logos on your vehicle. These policies allow you to carry higher liability limits than permitted on a personal policy; can provide cargo coverage; and comply with filing regulations specific to your industry.

BUILDERS RISK INSURANCE

Contractors and similar professions need this coverage to protect a person’s or organization’s insurable materials, fixtures, and equipment being used during construction or renovation of a building. The policy covers the structure to its full completed value and ends once the construction is completed. Builder’s Risk policies vary in coverage options and may or may not include liability coverage.

EMPLOYMENT PRACTICES LIABILITY INSURANCE

This covers claims for wrongful acts arising out of the employment process, including defense costs. This could include wrongful termination, discrimination, sexual harassment, failure to promote, and others. This coverage can be added to your general liability policy by endorsement or can be sold as a stand-alone policy to afford greater coverage. 

EMPLOYMENT PRACTICES LIABILITY INSURANCE

This covers claims for wrongful acts arising out of the employment process, including defense costs. This could include wrongful termination, discrimination, sexual harassment, failure to promote, and others. This coverage can be added to your general liability policy by endorsement or can be sold as a stand-alone policy to afford greater coverage. 

BONDS

Unlike insurance, a bond guarantees payments, work completion, or other security to your client/customer. There are many different types of bonds which may be required by the state, city, or for a contract you are bidding on. Bonds require a review of an owner’s/company’s financials; and if a bond pays out, reimbursement to the company is expected.

OUR PARTNER COMPANIES

We work with the best financial institutions available in today’s market.  With over thirty insurance companies, nationwide, at our disposal, we are able to provide the best pricing and coverages available.  These insurance companies include well-respected names like Travelers, Progressive, The Hartford, CNA, Liberty Mutual, Berkshire, Markel, Hiscox, Secura, Philadelphia, and Pinnacol, to name a few.  In addition to working with these respected companies, we also partner with the following agencies, to give you a team of professionals, each with well over twenty years in the industry.

The Ahbe Group, Inc. provides Precision Insurance  Services the ability to have access to all these insurance companies; offers the opportunity to write insurance in 45 states; and continually work for you to assess company ratings yearly.  The Ahbe Group boasts exemplary customer claims satisfaction; and carefully selectin new insurance companies entering the Colorado market.

Advantage Insurance Solutions is our sister agency located in the Denver are.  With over ten year in business and twenty-plus year of industry experience, Advantage Insurance Solutions provides continues support, education and a team atmosphere of numerous agents who are available to work together, ensuring the utmost in customer satisfaction and insurance needs.

RT Specialty is our premier wholesale distributor of specialty insurance products and services.  Our broker provides innovative solutions to our client’s most complex insurance needs, providing affordable options for our clients, with a comprehensive selection of insurance products.  Their exemplary knowledge and experience is making RT Specialty a leader in the insurance industry, and a large part of the success of Precision Insurance Services.

Heather has been a great asset to my company.  She has worked diligently on everything I requested of her and found me the best possible rates for all my insurance needs!  Two thumbs up!

Mark S.

Colorado Total Container Corp.

Heather is very professional and has provided excellent customer service.  Communicating with her is always a pleasure!

Tom R.

PC Services

Working with Heather for all our insurance needs has been an excellent experience!  Heather is always prompt and has worked hard to accomplish all our insurance needs.  We will continue working with her firm and recommend her to others!

Tom P.

The Welding Shop on Knob Hill

Several years ago I branched out and started my own construction contracting business. Heather and her team were very knowledgeable and approachable to answer all of my questions, both insurance and general business.  Next year we hope to have them do our books as well.

Paul R.

PD’s Enterprises

Precision Insurance Services is fantastic…..best service and pricing I have ever found!  They are the best and I am a customer for life!

Paul R.

In A Rush Towing

Heather and Precision Insurance Services has provided us with amazing guidance for adapting the best insurance packages for our company, all while providing the best customer service that always goes above and beyond expectation.

Sean W.

Wellness Walk-in Tubs

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