Business Insurance

You've worked hard to have a successful business. Protect your business with the right business insurance policy!

You invest a lot of money and energy into your business, and most people wouldn’t think of owning an auto or home without insuring it. The thought of experiencing a law suit or a loss to our personal belongings prompts us to do the responsible thing by purchasing insurance. Believe it or not, the same losses experienced at home can also be experienced with your business, and unless you have the proper business insurance, you won’t have coverage and could lose everything.

If you have equipment, computers and desks for your business, you need to have business property protection. The loss or damage to this equipment could interrupt, or permanently close, your business down. Insurance can help you limit the amount of down time you experience, as well as limit the amount of financial loss that you have to endure. You could experience damages from water, wind, fire or theft claim. Always make sure you inventory your business property and be sure you get it covered.

Your business cars need insurance, just like your personal cars need auto insurance. The main reason for getting commercial car insurance is if you have employees driving your cars or if you have a car(s) that are titled in the business’ name. Keep in mind that all drivers must be listed on a commercial auto policy, so it is extremely important that drivers have very good driving records as they will have to go through the underwriting process. Call us so we can help you insure all your vehicles properly.

Now that you have your property and cars insured it’s extremely important to protect yourself with the proper liability protection. What if someone gets hurt on your business premises (premises liability)? What if a product is defective and harms someone (product liability)? What if you own a service business and you give someone inadequate care or the wrong advice ( E & O insurance)? Liability insurance can provide the money to settle losses sparing your business, as well as your personal bank account, from a huge financial loss. Don’t forget that liability insurance can also cover the legal expenses which can be the majority of the expense in a liability loss. Without insurance, you have to pay for your own defense attorney out-of-pocket.

There is one type of insurance that you are required to carry when you own a business and have employees. The law requires you to carry workers’ comp insurance in this instance. It is designed to protect employees who get sick, or injured on the job while working for your business. Failure to comply with the requirement will lead to fines, civil penalties, and even criminal penalties. It is every business’ responsibility to protect its own employees, so if you have an employee make sure you get workers’ comp before you let them start working.

Most policies will only provide a specific amount of liability protection. In some cases, the liability will be inadequate for the size of the company, so you may have to purchase a business umbrella policy. The bigger your company is and the more assets you have, the more you have to lose. In the event that your business suffers a catastrophic loss, such as those experienced by a major lawsuit, your umbrella policy could be your only safety net. Call our office and give us the opportunity to determine the amount of coverage that is right for your company.