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Commercial Insurance Services




Click below to learn more about our commercial insurance coverage options in Springfield, Ohio.

Business Auto Insurance

If your employees are driving company-owned vehicles, or are using their own cars for work purposes and may not have sufficient personal liability coverage, you need commercial auto insurance to protect your business in the case of an accident. Wallace & Turner’s business auto policies can insure vans, trucks or other commercial vehicles and offer coverage for:

  • Auto liability

  • Medical payments

  • Comprehensive coverage

  • Collision coverage

  • Uninsured and underinsured motorists coverage

  • Coverage for autos you borrow or rent

  • Coverage for employees using their cars for the business

Contact our agents to obtain a commercial car insurance quote and protect your company vehicles.


Business Owners Policy

A business owner’s policy combines all major property and business liability risks in one package, and covers things like fire, theft, lawsuits and loss of income. Standard policies include coverage for:


  • Commercial Property: Buildings and contents owned, leased or rented by your company. It also provides coverage for loss of accounts receivable and valuable papers and records.

  • General Liability: Your company's legal responsibility for the harm as a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided. It can also cover the cost of your legal defense if you’re sued.

  • Business Income: The loss of income resulting from a fire or other unexpected event that causes a suspension in the operation of the business. It can also include the extra expense of operating out of a temporary location, and other financial obligations such as rent or payroll.

You should consider obtaining a business owner’s policy if you have a physical location, you have the potential to be sued or you have assets that could be stolen or damaged. Wallace & Turner is available to help you determine the right business owner’s policy for your company.


Commercial General Liability

As a business owner, being properly insured is critical to protecting your company. A commercial general liability policy provides coverage for customer injuries, customer property damage, and legal costs related to lawsuits:


  • Third-party Injuries and Property Damage: If a customer is hurt on your property, general liability insurance can help pay for their immediate medical expenses or your legal expenses when they sue. Or, you damage customer property, general liability insurance can help pay to repair or replace it. Both are in the instance of non-professional negligent acts. Mental and emotional distress can be considered injuries even if there is no physical harm.

  • Product Liability: If your product hurts someone or damages their property, general liability insurance can help pay for your legal expenses.

  • Advertising Injuries: If someone sues you for libel, slander, false arrest, copyright infringement, malicious prosecution or use of another's advertising idea, commercial general liability insurance can help pay for lawsuit expenses.

Lawsuits can have a tremendous negative impact on business operations. Have a commercial general liability policy in place to protect your business and leave you to focus on what’s important – running your company successfully.

Commercial Package Policy


If your company is growing in size or complexity and is facing specialized risks, Wallace & Turner’s commercial package policies allow you customize and bundle two or more coverages into a single policy. This flexibility lets you select which insurance coverage you need to properly protect your business. We can design a policy to provide insurance for just about any type of commercial risk.

Call us to discuss your particular needs with one of our insurance professionals.

Commercial Property Insurance

Commercial property insurance protects your business’ physical assets – the building and its contents – whether you own your building, lease your office or work from home. This policy will cover losses caused by theft, vandalism, fire and other physical damage.
When property damage occurs impacting your operations, commercial property insurance can also help cover operating and payroll expenses.

Consider a commercial property insurance policy to cover your:

Office Building: The building structure as well as permanently installed fixtures, machinery, and equipment.

Contents of Your Building: Items that can be removed like inventory, office equipment, and other supplies.

Other People's Property: Items that are in your care, custody, or control such as a client’s laptop.

Taking inventory of your business can help determine what property you want to insure and what its replacement value would be. Wallace & Turner is available to guide this process and recommend appropriate coverage.


Commercial Umbrella Insurance

Commercial umbrella insurance extends liability coverage to help businesses with the cost of lawsuits and to further protect business assets in the instance of a catastrophic loss. This can include legal fees, medical bills, and damage expenses that exceed the limits of underlying primary business coverage. This policy is written over various primary liability policies but can only be applied to a claim if:

  • You have the appropriate underlying policy.

  • That policy's limits have been reached.

Wallace & Turner can tailor commercial umbrella policies to the needs of different businesses. Talk with us about your options if you feel your primary policy doesn’t provide enough protection.

Crime Insurance

Crime insurance will protect your business for damage to your property, loss of money, securities or other assets, due to dishonesty, theft, or fraud by an employee, intern or consultant. Crime-related losses aren’t covered by commercial property insurance so this type of coverage helps you minimize risk, helping you and your clients feel secure. Areas not covered by crime insurance, include:

  • Your actions or those of your partners.

  • Your liabilities due to crime-related losses.

  • Your accounting errors.

  • Specific occupations.

If a loss does occur, Wallace & Turner can help resolve your claim quickly. Call us to discuss a crime insurance policy and obtain advice in preventing crimes against your company.


Cyber & Data Liability Insurance

Cyber crime is growing at an alarming rate and can result in major fines and legal fees. Do you know the cyber risks to your company and if your data is secure? If you take credit card payments, store credit card information for recurring payments, or store personal information about your customers, it’s imperative that you have a cyber & data liability policy in place. This type of policy is not only for large businesses and corporations – small businesses are just as susceptible to cyber and data breaches.

The policy covers a variety of expenses associated with data breaches, including:

  • Notifying customers about a data breach.

  • Credit monitoring.

  • Restoring personal identities of impacted customers.

  • Recovering compromised data.

  • Costs to defend claims by state regulators.

  • Fines and penalties.

  • Repairing damaged computer systems.

The right coverage for your business depends on your level of risk. Wallace & Turner can offer solutions to protect your business assets and insure you have the funds to recover and restore your reputation. Click here to learn more.


Directors and Officers Liability Insurance


If your business is incorporated and has a board of directors or corporate officers, or you serve on a board of directors, you could be exposed to lawsuits from shareholders. A Directors & Officers (D&O) Liability policy is designed to protect your company against claims stemming from actual or alleged “wrongful acts,” including negligence, of directors and officers acting within the scope of their managerial duties. D&O Liability insurance protects businesses of all sizes, including public and private for-profit businesses of all sizes, as well as non-profit organizations, and educational institutions. With D&O claims becoming increasingly common, particularly in areas such as employment and data protection, it’s important to have a policy in place to help cover defense costs and financial losses.   

Potential risks facing directors and officers are numerous, and can include:

  • Decisions that exceed the authority of a company officer.

  • Inaccurate and inadequate disclosure.

  • Employment and other human-resource-related issues.

  • Failure to comply with laws or regulations.

  • Reporting errors.

  • Shareholder actions.

Wallace & Turner has significant experience in developing D&O Liability policies to help companies mitigate risk. Contact our agents to discuss your options.

Errors and Omissions (E&O) / Professional Liability Insurance

If you’re providing a service to clients for a fee, consider errors and omissions (E&O), also known as professional liability insurance, to protect your business and staff against claims made by a client for inadequate work or negligent actions. This type of policy generally covers financial losses rather than liability for bodily injury or property damage.

E&O policies are written to reflect inherent risks and common exposures particular to different types of businesses and professions. We regularly work with the following to develop tailored professional liability insurance policies:

  • Accountants

  • Architects

  • Community Associations

  • Contractors

  • Doctors

  • Engineers

  • Salons

  • Veterinarians

Wallace & Turner can help minimize financial hardship for claims of professional negligence, error, or omission. Contact us today to learn more.


Employment Practices Liability Insurance

Employment practices liability insurance (EPLI), provides coverage to employers against claims made by employees alleging discrimination (based on sex, race, age or disability, for example), wrongful termination, harassment and other employment-related issues. Employee lawsuits are becoming much more common in both small and large businesses. The negative financial impact of employee lawsuits can be drastic and an extremely expensive process to defend if you don’t carry EPLI insurance.

The cost of an EPLI policy varies based on a number of factors, including how many people you employ, employee turnover, past lawsuits, and if you have standard employee practices and handbooks in place.  

Wallace & Turner is dedicated to helping protect employers. Our EPLI coverage can safeguard you in the instance of a wrongful lawsuit for:

  • Discrimination

  • Harassment

  • Retaliation

  • Violation of the Family and Medical Leave Act

  • Wrongful discipline

  • Wrongful failure to promote

  • Wrongful termination


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Farm and Ranch Insurance

Wallace & Turner understands the myriad of unique insurance risks that come along with owning and operating a farm or ranch. Whether you own or rent, or raise crops or livestock, our policies can provide you with security against weather disasters, diseases, and fluctuating market prices. Ranch insurance is similar to farm insurance, with provisions to cover a large farm owner who breeds livestock such as cattle, sheep, or horses.

Wallace & Turner farm and ranch insurance covers:

  • Home or dwelling and contents coverage

  • Farm property and operations equipment

  • Liability risks

  • Livestock

Tools & Equipment Insurance

Commercial inland marine insurance protects your property from hazards while it is in transit via land or sea. The policy covers property regardless of its location, providing it is within the policy territory. Commercial inland marine policies can be written on a scheduled basis, a blanket basis, or combination of the two.

Wallace & Turner regularly develops inland marine policies for the following industries:

  • Agricultural and farming

  • Contractors

  • Distributors

  • Manufacturers

  • Retailers

  • Trucking operations

Talk with one of our agents to discuss safeguarding your transportable property.  

Liquor Liability Insurance

Any establishment that sells, serves, or assists in the purchase or use of alcohol is at risk of a lawsuit as a result of an intoxicated patron causing injury or property damage from a fight, careless behavior or even an automobile accident. Restaurants, bars and nightclubs may face massive court and defense fees even if the suit is ultimately dropped. Liquor liability insurance will cover these fees as well.

You may also consider a one-time liquor liability policy if you’re hosting an event such as a wedding or reunion, and the venue or catering company does not offer liquor liability coverage.

Plenty can go wrong when alcohol is involved. Be realistic about your risk and plan accordingly.