Types of Business Insurance
Protection is more than a policy — it’s a principle.
Business Insurance That Protects Your Business — And Your Peace of Mind
For over 10 years, Hood Insurance Agency, Inc. has helped Lynnwood business owners protect their territory. Running a business is like leading a wolf pack: one misstep, and things can get messy fast. We provide the specialized B2B oversight you need to keep hunting (and making a profit) while we guard your assets.
General Liability Insurance
General Liability Insurance protects your business from claims of bodily injury, property damage, and more.
What It Covers:
Injuries on your business property
Damage to someone else’s property caused by your operations
Legal defense costs if someone decides to sue
Why It Matters:
Imagine a client slips in your store and breaks a wrist. Without general liability insurance, you could be responsible for medical bills, legal fees, and lost income — basically everything except a full moon howl.
Who Needs It: Almost every business — from retail shops to construction crews to online stores.
Professional Liability Insurance (Errors & Omissions)
Professional Liability Insurance protects you if a client claims your work caused them financial loss.
What It Covers:
Negligence or mistakes in the services you provide
Defense costs if someone sues you over errors or missed deadlines
Why It Matters:
Even the best-trained wolves slip up occasionally. A single professional error or missed deadline can lead to a lawsuit that standard General Liability won't touch. We ensure your legal defense is funded so your reputation stays intact.
Who Needs It: Consultants, contractors, service providers, anyone giving professional advice.
Commercial Property Insurance
Commercial Property Insurance covers your building, equipment, and inventory against loss or damage.
What It Covers:
Fire, theft, and vandalism
Natural disasters (depending on your policy)
Equipment breakdown and loss of inventory
Why It Matters:
If your den burns down or your gear is stolen, commercial property insurance helps you rebuild without having to raid your own stash of bones (or cash).
Who Needs It: Businesses with physical assets — offices, warehouses, stores.
Commercial Landlord Insurance (LRO)
If you own a building and lease it to others, you aren't just a business owner—you’re an investor. LRO insurance is specialized protection for landlords of retail centers, office buildings, and warehouses.
Property & Income Protection: Covers your structure and replaces your rent if a fire or disaster forces your tenants out.
Liability Buffer: Protects you if a tenant’s customer is injured on-site and names you in the lawsuit.
Who Needs It: Real estate investors and property owners leasing to commercial tenants. If your building is occupied by third parties, LRO is your primary line of defense.
Cyber Liability Insurance
Cyber Liability Insurance shields your business from data breaches and cyberattacks.
What It Covers:
Costs associated with a data breach
Notification and credit monitoring for affected clients
Legal expenses from privacy violations
Why It Matters:
Even a wolf pack has secrets, and so does your business. Hackers don’t care if you’re small or large — cyber liability insurance keeps your sensitive info from being turned into a public howl.
Who Needs It: Any business that stores client data digitally — which, let’s be honest, is everyone.
Commercial Auto Insurance
Commercial Auto Insurance protects vehicles used for business operations.
What It Covers:
Collisions, damage, and theft
Liability if your vehicle injures someone or damages property
Why It Matters:
If your delivery van becomes the villain in someone else’s story, commercial auto insurance steps in so you don’t have to pack up and run.
Who Needs It: Businesses that use vehicles for deliveries, client visits, or transport.
Stop-Gap: Closing the Washington State Loophole
Washington is one of the few states where workers' comp is handled exclusively by a state fund (L&I). However, there is a dangerous gap: L&I does not provide Employers' Liability coverage. If an employee is injured and claims your "deliberate intention" or negligence caused it, they can sue you directly outside of the workers' comp system.
What It Covers: Legal defense and settlements for employee lawsuits that the state fund ignores.
Why It’s Non-Negotiable: Without Stop-Gap, one workplace injury lawsuit could bypass your General Liability and hit your business assets directly.
The Hood Advantage: We don't just "add it on"—we ensure it’s properly integrated with your General Liability policy so your "pack" is never left exposed to the state's limitations.
Jon is the best insurance person I’ve ever worked with. He is professional and helpful.
Ally R
These folks have integrity, honesty and know their stuff! They go above and beyond to make sure you have the coverage you need. They won’t sell you something you don’t need. 🙂
Dave S
Jon offers outstanding service! He responds quickly and offers options to fit my needs. Appreciate that he explains everything in terms that I can understand. He is 5 Star Insurance Agent!
Lisa D
FAQ
Q: Do I need Stop-Gap insurance if I already have Washington State L&I? A: Yes. Washington is a monopolistic state, meaning L&I only covers medical and partial wage replacement for injured workers. It does not provide Employers’ Liability. Stop-Gap coverage is essential to protect your business if an employee sues you for damages not covered by the state fund.
Q: What is LRO insurance, and do I need it for my commercial building? A: Lessor’s Risk Only (LRO) is specifically for commercial landlords who lease at least 90% of their building to tenants. It protects you from liability and property damage claims resulting from your tenants' operations. If you are a commercial property investor in Lynnwood, this is your primary line of defense.
Q: How much commercial liability coverage does my business actually need? A: While a $1M/$2M policy is the standard baseline, your specific requirement often depends on your lease agreement or client contracts. For over 10 years, we’ve helped Lynnwood businesses analyze their specific risk profiles to ensure they aren't underinsured or paying for "fluff" they don't need.
Q: Does my general liability policy cover cyberattacks or data breaches? A: Usually, no. Most standard general liability policies exclude data breaches. If you store client data, credit card info, or sensitive records, you need a standalone Cyber Liability policy to cover notification costs, legal fees, and recovery efforts.
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Ready to Secure Your Territory?
Don't guess when it comes to your livelihood. For over a decade, we’ve been the go-to commercial insurance experts in Lynnwood. Whether you’re a landlord, a contractor, or a tech startup, let’s build a policy that actually fits.