The Commercial Insurance Basics

One of the most important things to consider when starting your small business is risk management. A commercial insurance quote can help you estimate your costs and liabilities. Get the facts to properly establish your forecasts and budget.

General Liability

If someone injures themselves at your place of business, you can be held accountable for the damages. Your general liability coverage protects your from these claims. A good insurance policy should also include provisions for your legal defense as well.

Property

Equipment, structures and vehicles all cost you money. They were expensive to acquire and can be even more costly to replace. When your business depends on an important piece of machinery, you really can’t afford to risk the costs of replacement. Make sure that your police takes into account the full replacement value of all of your property.

Worker’s Compensation

This is a mandatory coverage for most businesses that hire employees. Your staff is your greatest asset but can also be a liability. Not only will this policy keep you and your employees safe, you often need it to bring your business into regulatory compliance.

Umbrella and Specialty Coverage

A good insurance agent can put together a commercial insurance quote that accounts for just about any contingency. Uniquely tailored policies that take into account the special characteristics of your industry, location or circumstances are available. Add errors and omissions coverage, get a general umbrella policy or even business interruption protection.