Commercial/Small Business Insurance

With a commercial operation, insurance is a fundamental requirement. Insurance can protect your company’s assets and ensure the business doesn’t go under when accidents happen or a catastrophe occurs. Otherwise, a small fire in your warehouse or a customer slipping on your doorstep can cause you to close your doors permanently.

All businesses should have liability insurance to protect themselves against any legal claims. Depending on your situation, your business may also need property insurance, auto insurance, worker’s compensation insurance, or even cyber liability insurance.

Business Owner Policy (BOP)

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Insurance policies are put in place to protect what’s important to you. For small or medium-sized businesses, insurance needs can vary drastically. Insurers can combine insurance coverages into one package sold as a business owner policy, or BOP for short.
A BOP can include basic insurance coverages, including protection against property damage, peril, business interruptions, and liability. Property damage and peril is the type of coverage property insurance offers. Liability protection covers the business owner’s legal responsibility for damages it may inflict on others.
Business interruption insurance is unique to commercial and small business insurance. With this type of coverage, your insurance policy would compensate you for the loss of income resulting from a fire or other catastrophe that disrupts the operation of your business. It can even pay for the extra expenses incurred by operating out of a temporary location.

How Coverage Is Determined

To determine the type of coverage you need, as well as the cost of insurance, our agents will collect information about your business. This includes the location and size of your business, number of employees, type of business, financial stability, building construction, security features, and fire hazards. Commercial insurance can even include additional coverage, such as crime, spoilage of merchandise, and forgery.

Most businesses need to purchase at least the following four types of business insurance policies: property insurance, liability insurance, business auto insurance, and worker’s compensation insurance.

Property Insurance
The location of your business often determines the success of the operations. The building and its furnishings are important assets to your company. Therefore, it makes sense to protect these assets with adequate property insurance. Property insurance can compensate a business in case of fire or theft. You can use property insurance to protect not only the building but also the furnishings, inventory, machinery, computers, and anything else that’s vital to your company’s operations.
Liability Insurance
Business liability insurance is probably the most important coverage you have to get. Anyone can sue your company, and you must be able to protect your hard-earned assets from such an action. Liability insurance covers legal fees and any damages they find your company liable for. A customer can be injured on the premises of your business, which opens you up to a potential legal claim, even if the injury was outside your control. A customer can also sue for selling a defective or harmful product. They may even pursue legal action for an error made by one of your employees. Liability insurance protects you from these things up to the limits of your policy.
Business Auto insurance
If your business involves the operation of motor vehicles, you must have a separate business auto policy. Even if you just have a business vehicle that’s only used by your employees to go to work, your auto insurance policy must cover the costs to any third parties in case of a bodily injury or property damage.
Worker’s Compensation Insurance
If your business has employees, you must have worker’s compensation insurance. It’s required by law by your state. This type of insurance will cover the medical costs and a portion of lost wages for an employee who is injured in the course of their employment. This is the case even if the employee is at fault for their injury. If an employee dies because of a workplace injury, worker’s compensation insurance can provide benefits to the employee’s family.Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of my foundation of success.

Major Commercial Coverages

Many businesses need to purchase at least the following four types of insurance:

Property Insurance

Property insurance compensates a business if the property used in the business is lost or damaged as the result of various types of common perils, such as fire or theft. Property insurance covers not just a building or structure but also what insurers refer to as personal property, meaning office furnishings, inventory, raw materials, machinery, computers and other items vital to a business’s operations.

Liability Insurance

Any enterprise can be sued. Customers may claim that the business caused them harm as the result of, for example, a defective product, an error in a service or disregard for another person’s property. Or a claimant may allege that the business created a hazardous environment. Liability insurance pays damages for which the business is found liable, up to the policy limits, as well as attorneys’ fees and other legal defense expenses. It also pays the medical bills of any people injured by, or on the premises of, the business.

Business Auto Insurance

A business auto policy provides coverage for autos owned by a business. The insurance pays any costs to third parties resulting from bodily injury or property damage for which the business is legally liable, up to the policy limits.

Workers Compensation Insurance

In all states an employer must have workers compensation if they have employees. Workers comp insurance pays for medical care and replaces a portion of lost wages for an employee who is injured in the course of employment, regardless of who was at fault for the injury. When a worker dies as a result of injuries sustained while working, the insurance provides compensation to the employee’s family. 

How We Protect Your Business

For business owners, your business is a cornerstone of your lifestyle. It supports you and your family, provides for your employees, and is a part of the legacy you’ll leave behind one day. At Deb Williams Insurance, it’s our goal to help you protect that business and that legacy. We’ll help you select the right type of insurance and the right amount of coverage for your unique situation to ensure that you’re protected against life’s unexpected moments. Call us today and let us walk you through the coverage available for your business.