While your day-to-day operations as a business owner might be complex, understanding commercial insurance doesn’t need to be. From natural disasters to employee injuries, All Star Insurance offers coverage options to protect just about every aspect of your business. It is important to understand that some types of commercial insurance are required by law, and others are required by business associates such as landlords and lenders. Obtaining the proper amount and right type of commercial insurance for your business will allow you to avoid the gaps in coverage where you need it most.
In terms of minimum coverage options, property insurance can fund replacements or repairs for damaged or lost physical possessions when disasters like hail, windstorms, fires or vandalism strike. Liability insurance is designed to protect against financial losses that you may face following claims of injury or property damaged caused by you or an employee and your services or products. If an employee requires medical attention in the event of a disease or accident, workers’ compensation insurance can satisfy these needs and allow him or her to return to work while removing the potential of legal action by former or current employees.
Other possible options include business crime insurance to protect against robbery, forgery, theft or fraud and business auto insurance that can protect your company against losses from injuries to pedestrians, passengers and other drivers for which you or your employees are liable. In addition, coverage may vary depending on your organization’s specific industry as, for example, the needs of an apartment building owner may vary drastically from those of a general manager of a fine dining restaurant.
It is important to review your policy each year to ensure that your coverage options continue to fully protect your assets. If you have already made a sound choice to protect your employees and organization with business insurance and you have found that, over time, the specific needs of your business have changed, there are often additional coverage options and terms available. Whether you’d like to reevaluate your policy with an expert or you’d like to set up a commercial insurance policy for the first time, contact All Star Insurance for a comprehensive and affordable commercial insurance policy that will meet your needs without exceeding your budget.