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.
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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:
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 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.