Essential Commercial Coverages for Your Business

Here are some of the insurance policies your business can’t afford to overlook.Essential Commercial Coverages for Your Business

As a business owner, you know how important it is to secure the right insurance coverages for your company. However, with all the coverage options out there, it can be difficult to determine which policies are most essential. To help you get the coverage you need, here are some of the most basic types of insurance that almost every business can benefit from.

Commercial General Liability

One of the most serious risks that your business faces is the risk of a liability issue. For instance, if your business was deemed responsible for another’s injuries, property damage, or other losses, then your company would be liable for their medical treatment or repairs. Additionally, you might even face a lawsuit. Commercial general liability insurance will ensure that you have the coverage you need to address these costs and, if necessary, pay your legal fees.

Commercial Property

Another major risk that you face is the risk of property damage. For instance, your business could face damages and losses stemming from vandalism, break-in, fire, or extreme weather event. Commercial property insurance will ensure that you can pay for your business repairs. Keep in mind that this type of insurance will also extend coverage to the supplies, inventory, equipment, and other property housed within your company’s building.

Workers Compensation

Workers compensation is one of the few mandatory commercial coverages out there. In fact, almost every state has laws dictating the amount of workers comp insurance that businesses are required to carry. This type of insurance covers the medical treatment and lost wages of employees that are injured or who become ill while on the job. Additionally, this coverage can also be applied to your company’s legal fees, should the injured employee decide to sue.

These are some of the essential coverages that your business cannot afford to overlook.  Looking for assistance with your business’s coverage needs?  Then contact us at Miller Carlisle Insurance Services.  Our professionals are ready to get you covered today.