Category: Commercial Insurance

Starting a new business is an exciting venture, filled with potential and promise. As you plan your business, it’s crucial to focus on the practical steps that lay the foundation for success.

Here are three actions to take if you’re forming a new business in Central Ohio:

1. Develop a Comprehensive Business Plan

Your business plan is a document that serves as the roadmap for your business. It outlines your business goals, strategies, target market, financial projections, and how you plan to achieve your objectives. This document is not just for your reference; it’s a vital tool for communicating your vision to potential investors, partners, and financial institutions. 

A well-thought-out business plan can make the difference between success and failure, as it forces you to think through the practicalities of your business and anticipate potential challenges.

2. Secure the Necessary Funding

Starting a business often requires capital. Whether it’s for purchasing inventory, leasing a space, hiring staff, or marketing your product or service, you’ll likely need at least some funds to get started. You might draw on funding sources such as personal savings, loans, grants, and crowdfunding.

Of course, keeping startup costs as low as possible reduces how much funding you have to secure.

3. Get Appropriate Business Insurance

Don’t forget about insurance, which entrepreneurs sometimes accidentally overlook. Commercial insurance protects you from unforeseen risks that could otherwise be catastrophic to your business. 

Commercial insurance coverages can include everything from basic accidents to expensive assets. At Insuran LLC, our agents can help you find the coverages that make sense for your business.

Schedule A Consultation Today

Don’t leave your business unnecessarily exposed to risks that could be devastating. If you’re starting a business in Central Ohio, contact us at Insuran LLC today. We’ll help you make sure your business is well protected.

You’ve opened a new business, secured all the necessary licensing, and started serving clients. Your company has insurance coverage through a general liability policy, so you think you’re all set. Yet, what happens if you make a bad decision and a client sues you for it? The agents at Insuran LLC, serving Central Ohio, can advise you on appropriate professional liability coverage to protect your business.

What Professionals Need Professional Liability Insurance?

Essentially, anyone providing professional advice needs this type of liability insurance, also called errors and omissions or indemnity insurance. Prominent examples include medical malpractice policies for doctors and legal malpractice for attorneys. Most professional situations aren’t as dramatic as those, yet unhappy clients can sue many different professionals. Professionals who should consider a professional liability policy include:

• Consultants for any industry

• Real estate agents

• Other health care professionals like therapists

• Accountants

• Engineers

Keep in mind that this list is not all-inclusive. Even public notaries can be subjects of a lawsuit if someone deems their actions unacceptable.

What Does Professional Liability Cover?

Errors and omissions insurance covers claims of negligent advice. Professional liability insurance allows business owners to save their companies if someone sues them, whether the claim is legitimate or fabricated. These policies will cover legal fees, claims of past omissions, inaccurate advice, misrepresentation, or any other act that a client may deem harmful, whether justified or unjustified.

How Much Does Professional Liability Cost?

Professional liability policies vary in cost according to the type of business and how many employees you have. The more risky the business is, the higher the premium. Central Ohio residents can count on Insuran LLC to provide sound advice on the amount of professional liability insurance, along with policy particulars, for their business.

The joys of owning your hobby farm are vast and varied—from fresh eggs in the morning to the satisfaction of working the land with two hands. However, with all that joy comes some responsibility, and one important aspect of farm ownership is ensuring your livestock, crops, and buildings are protected from loss or damage. If you have a hobby farm in Central Ohio, Insuran LLC recommends commercial insurance.

Why Commercial Insurance?

Coverage for Liability

Accidents can happen if you have visitors to your hobby farm, whether friends or strangers. An unexpected fall, injury, or property damage could lead to a liability claim. That’s where commercial insurance comes in handy, providing coverage in case someone is injured or their property is damaged on your farm.

Protecting Your Home and Outbuildings

Hobby farms may include homes, barns, sheds, and other habitable structures. Homeowners’ insurance may not cover all aspects of a farm and its equipment, while commercial insurance can protect the structure and contents.

Protection for Livestock and Crops

The upkeep of your animals and crops is essential to your livelihood. Commercial insurance can cover damage from natural disasters, predator attacks, and even diseases/infections that could affect your livestock and crops.

Reach Out To Us

Whether you are a seasoned farmer or starting out, it’s important to understand the options for protecting your hobby farm. Commercial insurance may not be required for your hobby farm, but it can protect you, your family, visitors, animals, and income. At Insuran LLC, we specialize in providing tailored insurance solutions that meet the unique needs of hobby farmers in Central Ohio. Contact us today to learn more about our commercial insurance policies for hobby farms.

When you have a small business, you face risks to your business just about every day. Your chances of failing are incredibly high. At Insuran LLC in Central Ohio, we have a team with expertise in commercial insurance that will make sure you have coverage that is correct for your business. 

Why Commercial Insurance

Commercial property insurance

Commercial property insurance offers a variety of different coverage. It protects the building if you own it, but it also covers all the things that you use to do business. Depending on what line of business you are in, this can extend to the tools of your trade as well as office equipment. If you have a small manufacturing business, this can be machinery, raw materials, and finished products. Stores include the display units and your inventory. Whatever your particular type of business uses will be included. 

Commercial liability insurance

Businesses in general and small businesses, in particular, are vulnerable to being sued. As a matter of fact, about one-third of all businesses will be sued in any given year. Legal action against you can be very damaging to your business. It could drain your assets and kill your business if you don’t have liability insurance. 

Commercial auto insurance

If your business owns any vehicles, you need to have commercial auto insurance. Personal auto insurance can not be relied upon to pay for damages that occur when you are doing business. 

Workers compensation insurance

In the state of Ohio, if you have one or more employees, you must cover them with workers’ compensation insurance.  Both full-time and part-time employees count. This is good for you and your employees. 

Contact us Today

Give us a call at Insuran LLC in Central Ohio to get the commercial insurance that will protect your particular business. 

Carrying the commercial insurance coverage that your business needs are very important. We can provide you with commercial insurance for your business in Central Ohio at Insuran LLC. 

Eventually, you’ll want to purchase commercial insurance for a new business venture. As your young company grows, commercial insurance coverage becomes increasingly important.

The following are three signs that it’s time you purchased commercial insurance for your fledgling business venture:

You’ve started to use a vehicle for business purposes

You need commercial auto insurance if you use a vehicle as part of business operations at your company. It’s not a good idea to use a vehicle that you’re only carrying personal auto insurance on to carry out business operations. 

You’ve hired new staff members

When you have staff members working for your company, you need to meet the workers’ compensation insurance requirements in your state. This means that you should look into commercial insurance if you’ve started hiring. 

Workers’ compensation insurance protects your employees from financial difficulties if they get injured on the job. Workers’ compensation insurance is required for many commercial ventures depending on factors such as how many employees a company has. 

You’ve made a big investment in your company

You should insure any valuable assets of your company. If you’ve recently made a big investment in your company by buying new equipment or a commercial facility, you should insure these assets. Insuring your company’s most valuable assets can help prevent an accident that leads to extensive damage to your assets from shutting down your company. 

Contact Us Today

Carefully research your options before you buy commercial insurance in Central Ohio. Call or email us at Insuran LLC to get the information you need to choose the right commercial insurance policy. 

There are many types of commercial insurance available in Central Ohio, and it’s overwhelming to figure out what kind of coverage you need. But don’t worry- we’re here to help! Here’s a rundown of some of the most common types of commercial insurance policies:

Property Insurance

Do you have a physical location for your business? If so, you’ll need property insurance to protect your building and contents in case of damage or theft. This policy will also cover any loss of income if your business has to close temporarily due to damage to your property.

Liability Insurance

Liability insurance protects your business from lawsuits alleging that your business caused someone else bodily injury or property damage. If you’re found liable, your liability insurance will cover the cost of the damages and any legal fees.

Product Liability Insurance

If you sell products, you need product liability insurance to protect your business from lawsuits alleging that your products caused someone bodily injury or property damage. If you’re found liable, your product liability insurance will cover the cost of the damages and any legal fees. Your Insuran LLC agent can help you determine the right amount of coverage for your business.

Workers’ Compensation Insurance

If you have employees, you’re required by law to have workers’ compensation insurance. This type of policy covers medical expenses and lost wages for employees who are injured on the job.

Business Interruption Insurance

If your business has to close temporarily because of a covered event, business interruption insurance will reimburse you for lost income and other expenses, such as rent and employee salaries.

These are just a few of the many types of commercial insurance available in Central Ohio. Contact Insuran LLC to discuss your specific needs and get a tailored insurance policy that’s right for your business.

In Central Ohio, Insuran LLC serves a variety of businesses that run the gamut from doctors and lawyers to restaurants and retail outlets. Each type of business needs a different insurance policy set. While the insurance industry refers to the insurance a business carries as commercial insurance, that actually encompasses more than 20 policy types.

Custom Commercial Policies

All commercial insurance entails a custom quote because no two businesses need exactly the same insurance. A doctor needs malpractice, while a retail store needs glass insurance. The one thing that all businesses have in common is a need for a business owner’s policy (BOP).

BOP Policies as a Foundation

Every business purchases a BOP because it packages the four most common types of insurance needed in one package for a reduced premium. Your business gets coverage for property damage, liability, named perils, and your business equipment. Some BOPs also throw in business interruption insurance, although most BOPs require this as an add-on.

You can add coverage to the BOP foundation. For example, a ballet studio would add glass insurance to protect the cost of replacing the many mirrors in the studio. A doctor who makes medical devices would carry errors and omissions insurance in addition to the BOP.

Each type of business needs a different set of policies and a different percentage with different levels of coverage. It takes consultation with an insurance agent to determine which of the 20 types of insurance your business needs.

Contact Insuran LLC serving Central Ohio for more information and to set up an appointment for a meeting with one of our insurance agents. We can help you build the custom policy you need for your commercial business.