Considering commercial insurance could end up saving you thousands.
Commercial insurance is an incredibly important investment you can make on your business as it will protect you and your business should you face a variety of losses. It could potentially mean the difference between staying afloat and going under in case of damages, or if you find yourself on the opposite side of a costly lawsuit, or the damages were unforgiving. Know what commercial insurance offers, what it is, and why you should get it for your business.
What commercial insurance offers. There are three main types of commercial insurance that are available for businesses: property insurance, liability, and workers’ compensation.
- Property insurance covers damage to the contents of your office, your tenant improvements if you are renting, or the building if you are the owner. Things like fire, vandalism and water damage from a broken pipe would be covered by property insurance.
- Liability insurance covers you for property damage and/or bodily injury that your business inflicts on a third party as a result of your business operations.
- Workers’ Compensation protects your employees if they get injured on the job. It also deters them from filing negligence lawsuits against you for any injuries they sustain while working.
What you should consider. Be sure to work with an agent with whom you feel very comfortable and you feel shares your values. The agent should discuss losses that are common within your field and present you with a plethora of coverage options. If you are unclear about anything, you shouldn’t hesitate to ask. Their job, apart from selling, is to make sure that you understand and explain any parts of the policies you are not feeling so sure about.
Commercial insurance is very important, and if you value your business that you worked so hard to build, it’s a no-brainer. contact Purves & Associates Insurance Services. Serving Sacramento, Davis, and surrounding California areas, we will help you find the best commercial insurance coverage to meet your specific needs, all at the right price.