Commercial Insurance

There are many types of commercial insurance, including coverage for property damage, legal liability and employee-related risks. Below are a few of the most common types of commercial insurance.

• General Liability Insurance – can help protect you, your employees and customers in the case of an accident.
• Commercial Property Insurance – can help protect your company’s physical assets, such as your building, furniture, equipment and inventory. You can get commercial property coverage even if you work from home.
• Business Owners Policy, or BOP – is a combined package of different coverages, such as property, liability, crime coverage and more. A BOP can help you get a customized policy tailored to your specific needs.
• Commercial Auto Insurance – can protect your business and employees from a variety of damages and accidents related to the operation of vehicles.
• Business Income Insurance – can help pay bills and cover costs if your business has to close temporarily.
• Commercial Umbrella Insurance – can provide your business with extra protection beyond your standard liability policy.
• Cyber Liability Insurance – can help protect your business from damages related to electronic data, computer systems, data breaches and even computer attacks.
• Equipment Breakdown Insurance – can protect your business from damages and costs related to computers, electrical and mechanical equipment breakdowns.
• Business Interruption Insurance – can pay for lost income and help keep your business afloat if external forces cause you to close for a short time.
• Workers’ Compensation Insurance – can protect your employees in the instance of a work related accident.

Business insurance can help pay the costs of property damage, lawsuits, lost business income, and other covered losses. To help protect against specific risks unique to their situation, businesses often buy multiple coverages and combine several in one policy.

Among the most popular business policies is a Business Owner’s Policy (BOP). A BOP generally includes business property, general liability and business income coverages in one policy. Combining these coverages can help save you money and it’s convenient. Insurance helps protect from the cost of bodily injury or property damage claims against your business.

For example, a customer may make a claim against your business if he is injured in your store. General liability can help cover you against the costs of the claim and potential defense costs. It also helps protect your business from the costs of errors in your advertising.

You’ve invested in your small business. You’ve put energy and effort into getting it started and opening the doors. Protecting your investment is an important element in helping ensure you have a successful business.

Business insurance can help protect small business owners from property damage and liability claims. Running a business involves risks that are both expected and unexpected. There are different types of insurance that can help businesses.

Each type of business insurance helps protect you and your business in different ways. Whether it’s property damage, giving your employees benefits if they get sick or hurt from their job, or covering the costs to help your business recover from a data breach, our business insurance policy helps businesses prevail through the unexpected.

Your employee is driving a business car to make a delivery to a customer. On the way there, he ends up rear ending another car and causing significant damage. In addition to the physical damage, the other driver sustained injuries and has to be transported to the hospital.

A commercial auto insurance policy can help cover the property damage and medical costs from this accident. If you didn’t have coverage, your business would be responsible for covering the costs.If you or your employees use your own cars or company vehicles for business purposes, consider getting a commercial auto insurance policy.

It can help pay for the financial costs that result from an auto accident if you or an employee is found at fault – even in the event of a fatal accident. A commercial auto insurance policy can help protect small business owners and their employees in many ways. These include:

• Driving between different work locations
• Visiting existing or potential customers
• Driving employees around town
• Performing deliveries on behalf of the business

While there are a number of factors that contribute to the cost of your premium, there are some things you can do to help reduce it. The car you drive will greatly affect your premium. To lower your auto insurance costs, you may consider switching automobiles and driving a safer, slightly older or less valuable vehicle. The more your vehicle is worth, the more it can cost to insure it. If you don’t want to change cars, you can modify your vehicle to make it safer or lower-risk by adding anti-theft devices or features like anti-lock brakes. In addition, selecting a higher deductible and ensuring that your coverage doesn’t lapse may help you keep your auto insurance costs down.

If you don’t want to change or modify your car, you can also consider changing your driving habits. Your driving record is one of the most important factors considered when determining your premium. You can also try cutting down on the miles you drive and getting other insurance policies to save you money.

For business insurance, count on spending as much as 20 to 30 percent of gross sales as a general rule of thumb, for comprehensive coverage that includes primary business coverages and employee health and life insurance benefits.

But costs can vary widely depending on the types of coverage selected and a variety of risk factors specific to the particular business being insured. Business insurance can help pay the costs of damages claims against your business in the event of an accident.

Without the right type and amount of business insurance, you may need to pay those costs out of your own pocket. In most states, there are certain requirements for the types of business insurance a company must have.

For example, most states require businesses with employees to have Workers’ Compensation insurance. Most states require businesses with employees to purchase Workers’ Compensation insurance. If you or your employees will be driving for work purposes, you’ll probably need commercial auto insurance as well.

A general liability insurance policy may also be necessary as it helps cover the costs of property damage and injury claims caused by your business.

Businesses often need to carry more than one type of insurance, and your business' insurance needs may be highly individualized. A knowledgeable agent can help you find the right solutions. For some states, carrying insurance is a requirement. Requirements may also vary by the type of business you own and the number of employees; however, worker's compensation is required by law in most states, and highly recommended if not.