Some types of business insurance are required by law, but this is an area where just doing the bare essentials could cost you dearly. If your business ever suffered a major loss that compromised your ability to earn an income, inadequate insurance could jeopardize your lifestyle, future plans, and the job security of your employees.
There are many different types of commercial insurance available. Businesses are varied, though, so sometimes it can be confusing trying to sort out which types of insurance you should have. Additionally, there are some types of insurance that are not required, but which might still be a good idea.
Let us help you pick the right policies for your situation. ABC Insurance offers a range of business insurance coverage options to fit your needs.
General Liability
General liability insurance provides money to cover both defense and damages if you, your employees, or your products or services cause Bodily Injury or Property Damage to a third party. Every business should have a liability insurance policy. This is true even for a home-based business.
Professional Liability (E&O)
This type of insurance policy provides defense and damages for improperly rendering or failing to provide professional services. Also known as Errors and Omissions Insurance, professionals should have this type of insurance. For example, hair salons, independent consultants, real estate agents, accountants, lawyers, insurance agents and more should consider E&O.
Property
You never know when fire, vandalism, theft, or other common covered losses could occur. This type of policy protects your business property, including structures like a retail shop or office, but also such things as computers, office equipment, inventory, tools and more. Additionally, you can be covered for business interruption and loss of earning insurance should your income flow disappear in the event your business is unable to operate.
Workers Compensation
This type of policy provides wage replacement and medical benefits in the event that an employee is injured while working. It is required by Wisconsin law for employers that meet certain requirements. Worker’s compensation insurance protects you and your company from the potential legal complications that could result from from job site injuries.
Commercial Business Auto
Commercial auto insurance protects vehicles such as cars, SUVs, vans, trucks and others that may be a part of your business, whether they’re used to carry employees, products or equipment. If you don’t have company vehicles, but employees drive personal vehicles while carrying out company business, be sure to include non-owned auto liability insurance to protect the company in case that the employee has inadequate coverage or no coverage at all.
Protect Your Business with Commercial Insurance
You worked hard to build a business and its steady stream of income is important for your daily life. It’s also important in the lives of your employees. Protect your assets with the right business insurance that covers your requirements. From helping you rebuild after fires and burglary, to protecting your company cars and employee benefits, an all-inclusive insurance program can help you feel more secure.
Contact Us for Your No Obligation Auto Insurance Quote
Call us today to make an appointment or visit our local office in Strum, WI, for a consultation with one of our experienced insurance agents. We can help you find the right coverage for your commercial insurance needs. Contact us now to get started!
