Every business, large or small, needs a business insurance package. These packages are a combination of different types of coverage, designed to protect a business owner's investment when the unexpected happens. Here we provide answers to some common questions about corporate insurance.
Why is it so important to have business insurance?
Owning a business provides opportunities, but it also involves some risks. Corporate insurance is available to provide protection when things go wrong, such as fire, theft, natural disasters or lawsuits against your company. This coverage can protect your assets and provide peace of mind.
How much will business insurance cost?
The cost of a business insurance package depends on a variety of factors, including:
- The value of your assets
- Number of employees
- How much coverage you want (policy limits)
Our experienced agent can help you find the best quote for the coverage you need to fully protect your business
What is a BOP and what does it cover?
A business owner's policy (BOP) combines protection against major liability and property risks in an insurance package. It usually includes coverage for hazards, property damage, liability and business interruptions. Depending on your insurance needs, you can choose to include additional coverage. A standard BOP does not include employee compensation, commercial car insurance, health or disability insurance or professional liability.
What is the difference between professional liability and general liability insurance?
Professional liability insurance provides protection against liability based on a professional opinion, advice or guidance. General liability insurance helps protect your business from financial loss from property damage, bodily harm, medical expenses, libel or slander, settlements, judgments and defenses against lawsuits.
Does my company need rented and non-owned car insurance?  You may need this coverage to protect your business from liability in the event of an accident. If an employee driving his personal vehicle causes a crash while driving a case for your company, your company can be sued for damages. This protection applies to personally owned and leased vehicles.
What factors affect the cost of workers' compensation insurance?
Most employers in the United States are required to take out workers' compensation insurance. The higher the risk in the industry, the higher the premiums are likely to be. Factors that affect your company's employee compass insurance cost include the number of employees you hire, their job ratings, and your claims history.
What is EPLI?
Liability Insurance (EPLI) protects your business from financial loss. related to employee practices. The protection provided in the policy includes liability for discrimination, sexual harassment, unfair employment or dismissal, unsafe work environment and other employees.
Contact our agency today to discuss your options and find the plan that works best for you.