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Business Insurance

BUSINESS Insurance – Customer-friendly

Business insurance policies are designed to protect a company’s assets and employees after accidents, injuries, or lawsuits have taken place. If you are preparing for your grand opening or feel as if your company is not fully protected, then take a look at exactly what commercial insurance covers and who needs these policies.

Do I Need a Business Policy?

Those that are in the earliest stages of creating a business are often unsure if they need a commercial policy. These policies must be acquired well before anything of value is purchased for the company or any clients are taken on. Even those that operate out of their home will need a business policy as their home insurance will not cover any company assets. This form of coverage becomes even more important when employees are hired, an office is rented, or vehicles are purchased for commercial use.

Understanding the Scope of Coverage

There are a few basic forms of coverage that every business needs. This begins with a policy that protects company property such as an office, heavy duty equipment, and general supplies. A basic policy will also cover many of the liability issues that could take place in the coming years. If an employee, client, or bystander is injured on company property, then your liability insurance should cover some or all of the medical expenses. It will also provide financial assistance for theft, vandalism, and minor legal cases.

A Policy That Expands With Your Business

As your business begins to expand, you must have a policy that will be able to fill in any gaps in your coverage as they become apparent. Variables such as purchasing a company vehicle and hiring your first employee will expose you to new risks. Additional riders and add-ons that a business might require in the coming years include commercial auto insurance, group health insurance, workers’ compensation insurance, and product liability insurance.

Having the correct business insurance policy in place is the single most important step that a business owner can take to protect the company that they have worked so hard to create.

Business Insurance

Business insurance protects a company’s assets. It protects these assets from being depleted following accidents, injuries, or lawsuits that could ruin the business. If you don’t have insurance for your business, then you are putting your business in jeopardy.

All Business Owners Needs a Policy

Business owners, especially of new businesses, are often unsure if they need a policy. But any business should have a policy before the business officially opens. Even business owners who work from home need a business policy. This is because home insurance does not cover company assets. If a person sues the business, then home insurance will not help at all, but business insurance can. This coverage becomes even more important when employees are hired, an office is rented, or vehicles are purchased for commercial use.

Expanding Policy

Make sure your policy grows with your business. As your business grows, your insurance needs may change. Have a policy that will fill gaps in your coverage as they become apparent. Each new business move you make exposes you to new risks. Riders and add-ons that you might need to add include commercial auto insurance, group health insurance, workers’ compensation insurance, and product liability insurance.

Coverage

Every business should at least have basic coverage. This can be as simple as a policy that protects company property such as an office, heavy duty equipment, and supplies. A basic policy will also cover liability issues. It is important to have liability coverage. For example, if an employee, client, or bystander is injured on company property, then your liability insurance should cover some or all of the medical expenses. It will also provide financial assistance for theft, vandalism, and minor legal cases.






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