76 North Broadway •  Suite 4005 • Hicksville •  NY •  11801-2908  •  (516) 935-7230  • (718) 287-6875  •  Fax:  (516) 935-0625
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About Clifford M. Golub
Associates, Inc.


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Business Package Policy

This Business Owners Policy usually includes retail and smaller service businesses. The Business Owners polity is essentially a homeowners policy for you business. In one package it includes:

  • Property
  • Liability
  • Limited Crime
  • Inland Marine

Commercial Package Policies

When two or more of the following policies are purchased, we are able to offer a Commercial Package Policy discount to business owners.

  • Commercial Property
  • Commercial General Liability
  • Commercial Crime
  • Boiler & Machinery
  • Commercial Inland Marine
  • Commercial Auto
  • Farm

Commercial Property

Coverage A

Covers the buildings or structure including fixtures (indoor and out) permanently installed machinery and equipment, floor coverings, refrigeration etc.

Coverage B - Business Personal Property

Often referred to as contents, this covers furniture and fixtures, machinery and equipment, inventory. This coverage applies to the insured (owner or name on the policy) only.

Coverage C - Personal Property of Others

If you have other property in your care, not owned by you, (such as a leased photocopier) it is insured here.

Coverage A and C also provides coverage for removal of debris and loss to property while removing it to avoid loss (i.e. you remove a couch to prevent it from burning, and then it gets stolen or rain damaged). Also covered are fire department service fees, pollutant clean up and removal.

Commercial General Liability

Usually covers legal liability arising from injuries, damage suffered by general public, customers or tenants. Terms are very broad and exclusion should be discussed with your agent to see if supplemental insurance may be needed.

Commercial Crime

Unfortunately, this is a very important part of your coverage. Losses in this area fall into the following areas:

  • employee dishonesty
  • forgery
  • burglary
  • robbery
  • theft

Employee Dishonesty & Forgery

If an employee steals a large amount of money or merchandise, or small amounts over a period of time, these losses are usually covered by a fidelity bond. Insurance policies and fidelity bonds are very similar, with the difference being the number of people involved in the agreement.

An insurance policy is between two parties, the insured and the insurer. The bond involves three parties, the principal, the obligee and the guarantor. The employer is the obligee, the principals are the employees (they may be unaware and not an active party) and the guarantor pays out the loss.

Burglary, Robbery & Theft

Burglary involves theft by illegal forced entry. Evidence of damage is necessary to confirm the burglary.

Robbery is defined by a witness. If theft occurred and a person is present, and was threatened with bodily harm, a robbery has occurred.

Theft is very broad and means any act of stealing. It includes burglary and robbery as well as other dishonest acts.   Back

Boiler & Machinery

The key words here are "object" and "accident".

Examples of objects:

  • Pressure and Refrigeration Objects
    boilers, electric steam generators, steam piping,
    refrigeration, air conditioning
  • Mechanical Objects
    engines, pumps, fans, pumps, miscellaneous machines
  • Electrical Objects
    electrical machines, transformers,
    other miscellaneous electrical apparatus
  • Turbine Objects
    turbines, components of gas turbine unit
  • Comprehensive Coverage
    includes all insurable boiler and machinery.
    Can be written to include, or exclude, production equipment.

Accident is defined as the sudden and accidental breakdown of an object or part, that requires repair or replacement. It does not cover situations such as wear and tear, corrosion, leakage or computer or EDP equipment.   Back

Commercial Inland Marine

This is much like Personal Inland Marine.

This covers your moveable property, whether or not you move it or not. It gets its name from the days when cargo ships were the major means of transporting goods, and insurance policies were written to protect owners from the loss of those goods.

Today, it covers everything from PC's, telephone switchboards, cameras and musical instrument dealers to physicians and surgeons equipment....or the fine art hanging on your office wall.

Careful records of your insured items must be kept, police must be notified if a law is broken, and the insured are subject to under-oath questioning.   Back

Group Health

We can design Health Insurance benefits for self employed (groups of 1) as well as customized benefit plans for groups of 2 - 50 employees on Long Island as well as in the five boroughs and Westchester county. Plans can consist of HMO's (health maintenance organizations) and POS (point of service) options with riders such as dental plans. Rate packages are determined with various levels of co-payments and deductibles.   Back

Ocean Marine

Ocean marine coverage is one of the oldest types of insurance. Policies can be written to include various combinations of hull coverage, cargo coverage, freight insurance and protection and indemnity (P&I).

Each of the above coverages can be issued as a separate policy or grouped together. Cargo is usually written separately because the cargo owner is not the ship owner. Hull and P&I are usually written together, and can include freight insurance. There are many implied warranties that apply to ocean marine that are strictly observed and carry the same weight as written warranties. The vessel must be in seaworthy condition, the cargo must be sound and properly packed, the goods must be legal and the voyage must follow an agreed route with no change in destination.   Back

Commercial Auto

A business auto policy is used to insure vehicles which are owned, leased, hired or borrowed by businesses. The policy is divided into 5 sections:

  • Covered Autos
  • Liability Coverage
  • Physical Damage Coverage
  • Business Auto Conditions
  • Definitions

Covered Autos can mean "any" auto or coverage can be tailored depending of the use of that particular auto. Liability can be purchased for one auto, and physical damage coverage for only some of the autos. We discuss each situation with you to determine the insurance needs of that vehicle.

Liability Coverage is usually written with a single limit of liability. Split limits need to be endorsed separately. The policy covers the insured's legal obligations for bodily injuries or property damaged, covered pollution costs and the insurance company defends, investigates and settles suits and claims.

Physical Damage can include three separate agreements, Comprehensive Coverage, Specified Causes of Loss Coverage and Collision Coverage. The insured may select the coverages and the vehicles to which each will apply. Some vehicles can be insured for comprehensive while others may be insured to cover only specified causes of loss.

There are a number of Business Auto Conditions that apply to the policy in addition to the common policy conditions. For instance, and appraisal is provided for if the insurer and insured disagree on the amount of a loss. The insured is required to comply with certain duties with regards to promptly informing the insurer of any claims, summons or other legal papers. We thoroughly explain all conditions to you so as to avoid any misunderstanding.

A business auto policy includes certain definitions which define key terms applicable to automobile insurance. These are provided to you with any written policy.   Back

Workers Compensation

Federal and state laws govern workers compensation coverage. This coverage applies to injuries that are "work related" and accidental.

Occupational diseases may be covered if a cause and effect relationship between the disease and the work can be established.

Following are the benefits provided under Workers Compensation.

  • Medical Benefits

    In general, benefits are unlimited.

  • Income Benefits

    For permanent total disability or temporary total disability, the payment is a percentage of weekly wages, (usually 66 2/3%) after a waiting period (usually 307 days). If the disability continues for 2 or 4 weeks, the waiting period is paid retroactively. Partial disability is paid as a percentage of wage loss. That is the difference of what you would earn before the partial disability, versus after.

  • Death Benefits

    A burial allowance is provided ($1,000-$5000) and a percentage of the deceased wages are paid to surviving spouse and/or children. Sometimes for life, or sometimes until remarriage or until the children are 18-19, or 22-23 if they are in school.

  • Rehabilitation Benefits

    It is recognized that providing rehabilitation services reduces workers compensation costs by returning injured employees to their job. Benefits include various therapies, vocational training, special devices and living expenses during rehabilitation.


License and Permit Bonds

Certain industries require that a license or permit be obtained in order to conduct business. These must be "bonded".

For instance, real estate brokers, funeral directors and private detectives must comply with various laws and regulations. the bond would cover losses as a result of litigation. Bonds may also be required to guarantee the payment of taxes on certain items such as gasoline, liquor and tobacco.   Back