Why you need commercial insurance

Commercial insurance is an important means of protecting your company from the risks that it faces.  The majority of businesses will all have similar risks including:

• property damage due to fire, storms or accidents
• forms of liability such as product liability, accident liability and professional liability
• fraud, embezzlement, extortion
• cyber-crime and data loss

This being said, the risks that a small business faces versus those a large corporation face can be very much different.  As are the risks that a doctor faces versus those that the owner of a commercial construction company does.  This is why it is so very important to carefully assess the unique risks that your particular business faces and identify the coverage areas and level of coverage that is needed.

A few of the important factors that should be considered are how many employees you have, the materials being handled, if employees are driving during the work day, equipment being used and the security level of data in the company’s possession.

The  process of assessing your company’s specific risks and exposures is such a critical task when securing commercial insurance.  Without doing so you may risk leaving gaps in your business’s coverage.  Once you have carefully identified the risks that your business faces you can more successfully pin-point exactly which types of commercial insurance you need.

There are many different kinds of commercial insurance such as:

• general liability
• contractor’s liability
• malpractice or professional liability
• workers compensation
• marine coverage 
• commercial vehicle/truck insurance

There are many different factors to consider, levels of coverage to establish and which particular policy/policies are called for.  This makes it very crucial to work with an experienced independent agent who cannot only guide you through this entire process, but also shop across various carriers.  When an independent agent is able to do this it allows them to not only fine tune the coverage areas you need and the amount of coverage, but also find the most affordable options available.

We highly encourage any business owner whether they have a large or small business, construction company or law practice to contact us for further information and assistance.  We have experienced, licensed agents who specialize in commercial insurance and are ready to guide you through this process.

Give us a call today and begin the process of gaining the peace of mind that your business’ finances and your hard work are properly protected!

E. Steele