What Is Commercial Insurance and Why It Matters

Jun 20, 2018 (0) comment

You’ve put a lot of time, energy, and money into your business. Now, protect everything you have built with comprehensive commercial insurance. Commercial insurance protects both business owners and their employees.

As you know, each business is different. That’s why insurance policies are typically customized to best suit your situation. For instance, some policies combine commercial property insurance, general liability, and crime insurance for a comprehensive bundle.

What Is Commercial Insurance

Simply put, commercial insurance is one or more types of coverage bundled together to protect your business, yourself, and your employees. Many business insurance policies include property liability, crime and commercial auto insurance, business interruption insurance, and workers compensation. Some even choose to include cyber insurance employee benefits.

When selecting commercial insurance, a few considerations include:

  • Location
  • Number of employees
  • Time in business
  • Gross annual revenue
  • Rent vs. owning of vehicles, property, and equipment

Benefits of Commercial Insurance

Holding a commercial insurance policy for your business is crucial, no matter the size. Being a “small business” doesn’t mean you don’t need coverage! A policy protects you from common losses, including property damage, theft, liability, and employee injury. With the right policy, your small business is much more likely to recover after an incident. Without it, you risk going under altogether.

Should any type of claim arise, you’ll want to speak with your insurance agent. And, you should contact them immediately. An investigation will follow. However, do understand that commercial claims are typically more complex than individual claims. A fast claim assessment is very important, especially with a high-cost liability claim. Despite your good intentions, avoid handling claims by yourself – it will violate your insurance contract. Always speak with your agent promptly.

Call Today!

Speak with an experienced insurance agent by calling Mauceri Bynum Insurance at 214-733-8400. Our commercial insurance policies protect you from life’s unforeseen happenings!

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