Categories
Commercial Insurance

What Does Commercial Insurance Do To Protect Your Business?

As a business owner, you have an obligation to protect your company from anything that could threaten its financial future. Knowing the basics of commercial insurance can help you evaluate which types of coverage your business may require.

Understanding Policy Types: The Basics of Commercial Insurance

According to Allegiant Insurance Services, there are four main types of essential insurance coverage for small businesses:

1. Liability Insurance

Liability insurance shields your business from legal claims of negligence, harm or other damages allegedly caused by your products or services. It also provides protection for claims of injuries incurred on your property.

2. Workers Comp Insurance

If your business has employees, you will likely need workers comp coverage. Workers comp provides for the medical expenses of employees injured on the job or compensates families for the work-related loss of a loved one.

3. Property Insurance

Safeguard your facilities and inventory against theft, fire or other catastrophes. Property insurance covers everything from office equipment to raw production materials.

4. Business Auto Insurance

Whether you have one company car or a whole fleet of trucks, business auto insurance is indispensable. This type of coverage addresses personal injury and property damage claims that may result if one of your company’s vehicles is in an accident.

Finding the Right Commercial Insurance

Once you understand the basics of commercial insurance, you can work with a qualified insurance agent to get customized coverage. Your agent can bundle several types of insurance into a business owner’s policy that suits your company’s needs.

Categories
Workers' Comp Insurance

Why Workers Comp is Necessary for Your Business

Most businesses know that having workers’ comp insurance is necessary in case an employee hurts themselves or encounters an accident on the job. One part of workers’ comp is claims management. Here is a closer look at why having it is so important.

Helping You to Manage the Process

According to Caitlin Morgan, having workers’ comp that can manage your claims can help in various ways. It can ensure that the process is being managed in a timely manner while freeing up your time so you can focus on your company. The process often includes factors such as loss prevention and excess placement to help make your life easier.

Working With You to Track Future Issues

You might have questions on how a certain number of claims in a set amount of time can affect your business. By partnering with an insurance company that handles claims management, you can get the answers to your questions and find out how this could affect your company in the long run.

There are many benefits to having a workers’ comp plan that can also manage claims for you in the process. This can save you time, so you can focus on running your business while giving you the support you need when questions come up.