Business Insurance

Business Insurance

Unfortunate events happen, but they don’t have to cripple your business. Commercial insurance helps protect businesses from losses related to property damage, negligence, employee injury, data breaches, liability claims, and more. As a business owner, you should invest in a strong business insurance policy to protect your future and ensure you do not pay out-of-pocket for claims. A small business owner has the same concerns for his assets as the CEO of a large corporation does. No matter the size, your main goal – and ours – is to protect your business. 

There are many types of business insurance and much to consider when selecting a policy and provider. The first step to making sure your business is covered properly is a policy review. Take a look at your policy: Do you understand the conditions of a business owners policy – what it does or doesn’t cover? Fortunately, for business owners, Byars|Wright can help. 


With the Byars|Wright team on your side, we’ve got your business – and your future – covered. Contact one of our knowledgeable, friendly, and certified independent insurance agents in Alabama today. We would be happy to discuss your business’s needs to find an ideal solution.


Click the icons below to find out more about business insurance for your industry, or reach out to us now to get a commercial insurance quote from one of our local independent insurance agents.



Grocery & Wholesale

Non-Profit Organizarions

Religious Organizations


Financial Institutions


Food Service




Ambulance & Medical Transport

Automotive Services

Employee Benefits

Other Industries and Areas

Types of Commercial Insurance


At Byars|Wright, we understand that business insurance needs vary from industry to industry, as well as from person to person. We provide a wide range of insurance options to fit businesses of all kinds. Whether you’re a large corporation looking to modify your current commercial insurance coverage or a small business owner or entrepreneur setting up business insurance for the first time, we can help you find the perfect fit. At Byars|Wright, we diligently assess eligible expenses and help you avoid indirect costs and surprises, so your business budget stays on track.

Below are some common types of business insurance, followed by industries we specialize in. Contact our team to learn more about your insurance options, or request a quote online.


Professional Liability Insurance


Also known as errors and omissions insurance (E&O), professional liability insurance covers you and your company if you make a mistake while providing professional services to clients and customers. Professional liability insurance encompasses negligence, misrepresentation, personal injury, and more, as well as the legal defense costs that may arise if a customer sues you.

Many business contracts and even state laws specify professional liability insurance requirements. With this coverage in place, you won’t have to pay out of pocket or liquidate any portion of your business to pay for the loss. Insurance premiums and coverage limits will generally depend on the location and size of your business, how long it’s been around, and the claims history.


Commercial Auto Insurance


All vehicles need adequate insurance protection when they hit the road. If you own company vehicles, you need commercial auto insurance coverage. If you rent vehicles or have employees use their own personal vehicles for errands, you need “hired and/or non-owned auto insurance.”

Commercial vehicle insurance generally includes liability coverage, damage/collision coverage, certain medical coverage in the event of a car accident, and coverage that activates if the other driver involved in the accident was uninsured.

On the other hand, a hired and non-owned auto insurance (HNOA) policy typically covers liability claims and defense costs. If your business is sued as a result of a car accident involving one of your employees, it can also cover attorney fees, payouts, and other court costs.


Commercial Property Insurance


Commercial property insurance covers business property against theft, fire, storms, natural disasters, and so forth. Before providing coverage and setting the policy limits, the insurance company will first assess things like occupancy, intended use, furnishings, and square footage to determine the value of your property.

Note: Commercial property insurance does not pertain to the market value of the property. Rather, it covers the cost of potentially having to rebuild the exact same structure. This is known as replacement cost. The “actual cash value” refers to replacement cost minus depreciation. “Functional replacement cost” is a modification that allows you to get a better deal on insurance premiums by maintaining less coverage, i.e., in the event of destruction, you would rebuild only what your business needs to function instead of recreating the original building in full.


Cyber Liability Insurance


These days, hacking and having sensitive information stolen is a serious threat. Businesses need to be protected against cybercrimes. Cyber liability insurance includes data breach coverage to protect a business in the event of unauthorized access to sensitive information about its finances, customers, and/or employees.


Business Interruption Coverage


Also called business income insurance, business interruption coverage is a type of insurance that kicks in to provide supplemental income to the employees and owner if the business cannot operate for an unforeseen or catastrophic reason. Tornados, theft, and fire are a few examples.

A buy-sell agreement is a component of business interruption coverage that dictates who will take over the business if the owner can no longer operate it. Life insurance policies for key employees are also part of a complete business interruption plan.

Business continuation insurance has become all the more popular with owners trying to withstand the impact of the pandemic. For more on business interruption coverage options, contact us now.


Worker’s Comp


Accidents happen, and risks exist for employees in virtually every workplace. Fortunately, workers compensation coverage pays for an employee’s medical care if they get hurt on the job. Additionally, it also prevents the employee from suing the business owner for those damages.

State law requires employers with five or more employees to carry workers compensation coverage. Holding routine safety meetings and trainings is a great way to minimize your risks for workplace accidents.


“Umbrella” Insurance


Commercial umbrella insurance is additional insurance that grants protection beyond the existing limits and coverages of the other aforementioned professional liability policies. It only comes into play when your underlying liability limits are not high enough to cover a claim.

The specific amount of umbrella insurance required will depend on the industry. For example, when it comes to construction, a general contractor often sets certain insurance requirements, including how large your umbrella policy should be. This could range from $5 million to $10 million depending on the size of the job. Depending on a few factors like the type of industry, businesses can pay around $1,000 a year for $1 million in umbrella limits.

Having an umbrella insurance policy could possibly save your business from bankruptcy after an unfortunate event. If your company has a lot of vehicles on the road, operates in a high-hazard industry, or just wants to protect its future, the team at Byars|Wright can help you evaluate and manage risk with an umbrella policy.

Don’t Forget About Employee Benefits!


In addition to business insurance, it is important to care for your workers by offering an employee benefits package. We can help you select group medical, dental, vision, and life insurance for your valued employees.

At Byars|Wright, we offer all the insurance solutions you need to keep your business running smoothly. Our team of expert consultants is ready to help you!


Protect Your Profits with Business Insurance


Byars|Wright — Alabama insurance experts since 1946.

We are a locally owned and operated independent insurance agency with offices in the greater Birmingham area (including Jasper, Gardendale, Homewood, Alabaster, and Cullman) that has developed into a major provider of commercial and personal insurance. As a commercial insurance provider, we have an experienced team of independent insurance agents totally committed to finding the best insurance for your business. We take time to understand our customers’ needs, analyze assets, and measure risks.

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