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If your company has one employee or dozens of employees, the right insurance means the difference of succeeding or potentially losing everything you have worked so hard to achieve, when disaster strikes. A business may or may not have or be required to have certain types of insurance. Below some information about different basic coverage's. An insurance agent is always a great source to find the right coverage for your business.
Business Insurance Policies:
- Protect buildings where the business is run from or used for storage
- Covers interruption so salaries can be paid in the event of catastrophe
- Liability coverage
Business policies should be additional to other insurance such as, a commercial auto policy, worker's compensation, health insurance, and/or disability insurance.
Commercial Automobile Insurance-- If you have employees, get some.
If you have employees that drive commercial vehicles or automobiles that are for business purposes, you should obtain this coverage. This coverage will help avoid you from being personally liable if a claim is filed against you.
Worker's Compensation Coverage
Worker Compensation insurance is there for workers who have been injured or disabled on the job. This insurance helps cover their medical bills, wages, and potential lawsuits.Each industry and state is different on what the law mandates. For example, in North Carolina, if you have less than three employees, you are not required to carry this insurance.
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