If you own a business, you are aware of all the risks involved with operation. For example, sales planning or launching a new product can have some risk. What if your market doesn’t like your product, and if they do, how much supply do you need?
Another aspect of risk planning for business is what to do if an accident were to occur. Someone can get injured, a fire can destroy your inventory and a variety of unexpected events can occur. This would cause great harm to your business reputation and operation, resulting in financial loss, and unfortunately for some, the loss of their business.
So how do you prevent these risks from happening? The truth is, you can’t stop an accident. It’s virtually unpredictable, and although you can put many safety precautions in place to reduce your risk, there is still no guarantee of total protection. This is why commercial insurance is a necessity for successful business operation.
Here are the most common questions and answers about commercial insurance.
What is Commercial Insurance?
Commercial insurance helps your business cover the cost of financial loss due to unexpected damages, accidents and/or injuries that may occur with your business. Depending on what kind of insurance you choose, there are a variety of different packages you can receive.
At Farmer Brown Insurance, you will get personalized insurance for your specific need. Here is some of the Commercial Insurance we provide:
- Property Insurance
- Liability Insurance
- Worker’s Compensation
- Automobile Insurance
Commercial insurance for your property will protect your business from financial losses due to damages to your building, its facilities and its contents. This type of insurance can also cover the cost of property that is under construction, installation, renovation or repair.
Commercial liability insurance is needed to protect you from unexpected financial loss. In the case where you are held responsible for damages that occur to a third party, you will be required to cover the cost of the injuries and damages. Commercial liability insurance will provide protection in covering the cost of damages and legal defense expenses.
Commercial liability insurance provides coverage in the following areas:
This includes injury to other persons at your business or on your client’s property. For example, if customer slipped and twister her ankle on your freshly mopped floor, this insurance cover the costs.
This includes damage to someone else’s property.
This includes any damages to a person or business reputation.
This includes damages caused to a person or business as a result of your advertising. For example, if your advertisements on various advertising mediums slanders a competitor.
This includes payment of medical expenses to a person injured on the construction site.
There is also coverage for independent contractors or subcontractors that you have hired or partnered with. This will cover any damages that they may cause to a third party.
Commercial Worker’s Compensation
If one of your employees get’s sick, or hurt while working for your company, you will need worker’s compensation to cover the associated medical costs. Depending on each case, worker’s compensation will cover you and your employees for:
- Compensation for Lost Wages
- Medical Benefits
- Disability Benefits
- Rehabilitation Benefits
- Death Benefits
- Liability Insurance for Legal Defense
If you have company vehicles, you will need automobile insurance to protect against collision and accidents.
How Much Does it Cost?
Every business has different needs. The amount of insurance you will need depends on the cost of your property, your inventory, risk factors and so much more. That is why it’s important that you get a quote to find the exact cost. Click here to get a commercial insurance quote.
What are the Key Benefits of choosing FarmerBrown.com?
- A policy uniquely crafted to meet your needs
- Ability to negotiate with insurers to achieve insurance solutions effective for you
- Knowledgeable and professional sales team
- The security of A rated insurance companies
- 24 hour claims service
- Easy payment options
- Online quotes
- Attention to detail and customer service
At Farmer Brown Insurance, we understand that you want to protect your commercial investment and have peace of mind at a reasonable price.
We offer quality insurance based on your needs and type of commercial building. Not only do we offer standard commercial building insurance, but we also offer condo association, apartment building insurance, restaurant insurance and much more. If you own a commercial building, we will create the unique policy that will meet your insurance needs while keeping your budget in mind.
Worrying about your commercial insurance should be the last thing on your mind when you are managing properties. We know you want someone looking out for your well-being, all while giving you a great rate. Request a quote today and see how a policy from Farmer Brown Insurance can save you on the type of commercial building you have. Farmer Brown has you covered!