Key Person (Employee) Insurance for MD, VA Business

As a business owner, you work hard to stand out and be competitive in your market, and the reliability of your staff and employees is an important part of making that happen.  So when you lose one of those people, particular through death, the impact on your business can be substantial. You can protect against that impact with Key Person / Employee insurance. 

Here at the Daniel Howley Insurance Agency in Rockville, Maryland (Montgomery County), we can help you prepare for whatever might happen.

Why Have Key Person (Employee) Insurance?

If your business involves a key person, especially if that person is your company’s key contact for suppliers or customers or is pivotal in the management of the business, then the loss of that person would present a major threat to the well-being of your company.

How Does Key Person (Employee) Insurance Work?

If your key person is lost by death, your company can receive a death benefit through your Key Person insurance.  Such insurance is a variation of a life insurance policy for which your company pay premiums.  The benefit amount depends on the situation, the role the key person plays as well as his/her health and age. In the event of the death of the insured key person, the benefit is paid to your company. 

Our experienced agents, here at the Daniel Howley Insurance Agency in Rockville, MD,  can help you examine the options for protecting your company against the loss of a Key Person (Employee or Staff person); and we can help you arrive at the one that best suits your needs.  Just contact us today to discuss how we can help.

The scope of your insurance coverage and options depend entirely upon the policy and the insurance company providing it.  This website is not intended to advise, offer or bind coverage.  You should always discuss your insurance issues with professionals such as a licensed and qualified insurance agent like those at the Daniel Howley  Insurance Agency before making any decisions or choosing a course of action.

Workers Compensation (Comp) Insurance for MD and VA Business

Making your workplace safe is certainly one of your top priorities.  Even so, accidents can happen.  Having Workers Compensation insurance protects your company from litigation and covers injured employees’ expenses.

Here at the Daniel Howley Insurance Agency in Rockville, Maryland (Montgomery County), we know the state guidelines and will help you comply with your state’s requirements whether you do business in Maryland (MD) or Virginia (VA).

Workers Comp Insurance Required by Most States

In almost all states, employers are required to carry Workers Compensation insurance – or “workers comp” as it is commonly called.  This insurance protects you as an employer against lawsuits arising from workers injured on the job or developing work-related illness – whether it occurs on your workplace premises or elsewhere, including cases of business-related traffic accidents.  Workers comp coverage applies regardless of who was at fault.

Scope of Workers Comp Coverage

Typically, Workers Compensation will pay for the following:

• Time lost from work
• Rehabilitation services
• Medical/surgical services

Your state dictates the duration and amount of lost wage benefits as well as guidelines for coverage of medical and rehab services, benefit disputes, etc.

Because of the nature of this type of insurance, your business insurance package will not include it.  It is necessary to carry a separate policy for Workers Comp insurance.

Whether you’ve just hired your first employee or you are a seasoned employer, you might be wondering what you are required to do and what your options might be.  Our representatives here at the Daniel Howley Insurance Agency in Rockville, MD, can bring you up to speed on this critical coverage. So why not contact us to discuss your needs or request a quote today if you do business in MD or VA.

The scope of your insurance coverage and options depend entirely upon the policy and the insurance company providing it.  This website is not intended to advise, offer or bind coverage.  You should always discuss your insurance issues with professionals such as a licensed and qualified insurance agent like those at the Daniel Howley Insurance Agency before making any decisions or choosing a course of action.

If you are in business, you know the value of a good business / commercial insurance package designed especially to fit your industry and your company.  Here at the Daniel Howley Agency in Rockville, Maryland (Montgomery County), we will help you create that package, including the basic coverages every business needs as well as any of many additional special coverages if you need them. We serve businesses in Maryland (MD) and Virginia (VA).

Just select any of the following coverages to learn more about it, or contact us if you are seeking something other than those listed.

Business Owners Insurance Package

Business insurance is usually a bundle of coverages starting with the basics of general liability and commercial property protection.  Your custom designed protection plan will build from there to best protect your particular type of business from the many general risks, to those that might be unique to your industry.   Whether you are in sales or service, or are a retailer, property investor or manager, professional services office, restaurant or automobile repair shop, or some other line of business, this is the place to start.
 

General Liability & Contractors Liability Insurance

Some businesses, like contractors, need liability protection against damages arising as a result of your operation or insured location.  General Liability protection would follow you and your employees to your work sites.

Business Auto / Commercial Vehicle Insurance

Covering your business vehicles against losses is an important part of your business insurance portfolio.   Many variations and options exist to assure that you have the right coverage on your vehicles for your particular operation.

Workers Compensation (Comp) Insurance for Injured Workers

Making your workplace safe is certainly one of your top priorities.  Even so, accidents happen.  Having Workers Compensation insurance protects your company from litigation and covers injured workers’ expenses.

Group Life Insurance Coverage Benefit Plans

In this economy, employee benefits can be a more important tool than ever for a business owner.   Workers are concerned about making ends meet and at the same time protecting their financial future.  Offering group life insurance to your employees and their dependents can help attract and retain good people.

Key Person / Employee Insurance

As a business owner, you work hard to stand out and be competitive in your market; and the trustworthiness of your employees is an important part of making that happen.  So when you lose one of those key employees, particular through death, the impact on your business can be substantial. You can protect against that impact with Key Employee insurance.

Business Catastrophe Liability (Umbrella) Insurance

No matter how well you plan, accidents can still occur; and depending on the circumstances, the resultant claims against your business can far exceed your planned coverages. When this happens, it can put your entire business at risk unless you have an ‘umbrella’ for protection.

Need more information? 

Contact us today and speak with one of our expert agents who can answer all your questions and help you sort out your insurance needs.

Don't see the type of insurance you need? 

We are a full-service insurance agency, and we offer many other types of insurance policies to meet your needs.  Just call our office at 301-468-0191  or request a Quote. 

Here in Rockville, Maryland, at the Daniel Howley Insurance Agency,  we want to be sure you have the complete protection needed for your business. We look forward to the opportunity to sit down with you to review your current policy coverages and discuss how we might help you meet all your insurance needs.