Business Insurance

Why do I need business insurance?

First and foremost, anyone can be sued. Period. If you lose, the judgment can be collected through wage garnishments or seizure of property! Even some protections through incorporating can be invalidated under certain circumstances. Unfortunately, smaller business owners are more likely to be held personally liable for debts and judgements. Your business needs a business insurance policy because of the many different ways it can be impacted by factors outside of your control. Let’s talk. We can find a solution that works for you and your budget!

What types of business insurance policies are available?

There are many different types of business insurance and even more variations on how to write a business insurance policy. Here are just a few:

  • Property and Casualty Insurance:
    • A property insurance policy covers the actual physical location of your business. You don’t have to own the property, it will cover rented or leased properties as well. It can also cover the contents of the property from things like fire, theft and vandalism. You can even purchase extra coverage for things like floods or earthquakes. It’s important we know your situation, so we can help protect your business from these exposures. Some policies are cheaper because they don’t cover every possible scenario.
    • The casualty insurance policy covers the operational side of your business.
    • The two are usually sold together to make one total policy. This provides the best possible protection for you and your business!
  • Commercial Auto Insurance: If your business utilizes vehicles, this policy protects the assets, employees, and anything that might get damaged because of their operation. The important thing to know here is that once your vehicle is used for business purposes, it is not covered by your personal auto policy.
  • Liability Insurance: Liability insurance policies protects you from others. It covers bodily injury, property damage, personal injury, advertising injury, and medical payments caused by negligence or acts of omission involving your business operations.
  • Workers’ Compensation Insurance:  Do you have employees? If so, it’s the law that you carry Worker’s Compensation coverage.  This covers your employees for accidents or disease contracted while working. We know you value your employees, we can help  you make sure you’ve got proper coverage to protect you and them.

Can I get one policy that has multiple types of coverage?

Absolutely. A business insurance policy often includes the property, casualty, liability, and business interruption coverages. It is likely that you will see discounts for multiple coverages combined in one policy.  Amber knows business insurance, let us look at your current policy over coffee and see if we can help.