You’ve probably worked hard all your life to achieve the American dream – owning your own business. You’ve found the perfect building location, hired the best staff and are ready to open for business. Protect your investment and your livelihood by securing your business with commercial insurance.
Commercial insurance is insurance for your business. In most cases, it’s required especially if you are a risk for liability. Starting off with the basic coverages will get your business ready to open its doors, and as your business begins to thrive and branch out, you can adjust your commercial insurance policy to fit your unique needs.
Running a business can be fulfilling but as we all know, mishaps do happen. Aside from things out of your control, such as lightening strikes or other acts of nature; you have an obligation to your employees and customers to ensure they are safe while on your property and that your product or service you provide does not cause undue harm to anyone.
If a customer comes into your building and slips on the floor that has just been mopped, you could be liable if a court finds that you were negligent in preventing the fall from happening. It could be that the janitor forgot to put a wet floor sign out – or, maybe the customer wasn’t paying attention to the sign. In any case, commercial insurance will provide a benefit to you with coverage in case you need to go to court, pay medical expenses or replace any customer items that may have been damaged in the fall.
Commercial insurance is comprised of two main parts: property insurance and liability insurance.
Property insurance covers your business property both inside and outside the physical building. Your property includes both tangible and intangible items, such as, office furniture, computer equipment, documents, items used for beautification, trademarks and signage.
Liability insurance is protection that covers things you are liable for – the slip and fall accident would be covered by your liability insurance.
You may or may not have employees working for you – if you do then you will need to consider worker’s compensation insurance as well. Also, if your company makes deliveries or transports people or goods, commercial auto insurance may be required in case of vehicle accidents or theft.
If you’re ready to get your business off the ground, we can provide you with a competitive quote. We’ll get all the details about your business from you and discuss what you need to fulfill not only state legal requirements, but also coverages that will prevent your business from losing income and closing its doors. Protect your business and all that has gone into it. Speak with an agent today.