No matter the type or size of your business, commercial insurance coverage is a must. Commercial insurance is different than individual, personal insurance. While your individual insurance may protect you, it does not protect your business, your employees or your business property.
Even if your business is home-based, it’s still a good idea to have insurance. You’ll choose your type of commercial insurance based on the size of your business, whether you have employees and other factors. There are several different kinds, and the best way to determine which ones are right for you is to talk to your Federal Way, WA. insurance agent.
Commercial Insurance Policies
Commercial Property Insurance helps protect your place of business from theft and damage. If you have a home-based business, your homeowner’s insurance may cover this, but you should make sure. This policy may cover damage done to the building itself, as well as damage or theft of the property inside. Depending on how comprehensive your policy is you may also have business interruption coverage. This means that the costs of having to stop doing business due to the damage or incident may be covered, such as expenses, salaries, etc.
General liability insurance is an absolute must. It covers people who come to your business. If someone gets hurt at your place of business, you are liable. This type of policy can cover bodily injury, or damage to property. Policies can also extend to your products or services. For example, if you are a home service business, and you go to residences to make repairs, you’ll need coverage that extends to places other than your place of business. If a product you manufacture somehow does damage or causes injury, you can purchase liability insurance that covers you. Again, it’s important that you talk to your insurance agent to better understand your needs.
If you have employees, you must have some kind of workers compensation insurance.
Any business needs to have some kind of insurance. The experienced agents at Hart Insurance can help you learn more and get the coverage that you need to protect yourself, your property and your employees.