About Commercial Business Insurance
If you’re a new business owner, understanding commercial insurance is absolutely essential.
The top three things to remember are:
- Commercial insurance helps PROTECT you from lawsuits and the associated costs.
- Commercial insurance policies can be customized.
- You may have the option to bundle multiple policies for more comprehensive protection.
Why Commercial Insurance Matters
A business owner pours their heart into building their business, BUT what happens when a bad incident suddenly puts their business at risk?
Answer: Without good business insurance, that business could go under. In fact, a single bad lawsuit can ruin an entire business. This is why getting good commercial business insurance is a MUST.
Liabilities Are Everywhere
Like it or not, we live in a litigious society in the United States, and liabilities lurk around every corner. Obviously, then, business owners need coverage.
The question is, what kind? Well, any insurance pro will tell you that not all policies are created equal.
When you’re in the market for commercial insurance, you need a policy that offers robust coverage and a provider who advocates for YOUR needs.
After all, insurance is a partnership, not a one-way street.
Protect yourself and your company from the unexpected by investing in a reliable business insurance policy.
What Types of Businesses Need Business Insurance?
The types of businesses that can benefit from business insurance include:
- Retail stores
- Service providers
- Staffing agencies
- Sole proprietorships
- Limited liability corporations
- Private medical offices
This is the general consensus. However, we believe if you have a business of any kind that serves clients, you need to be insured. This is especially true for small businesses that are at risk of being devastated by lawsuits.
Bigger businesses certainly benefit from coverage as well. Despite having more resources, larger companies aren’t necessarily well-equipped to deal with the costs of property damage and other liabilities typically covered by a business insurance policy.
Fortunately, coverage can be customized to include your company’s most pressing liabilities.
What Does Commercial Insurance Cover?
Commercial insurance typically covers losses that result from property damage, lawsuits, injury claims, and theft.
Regarding theft, it can result in thousands of dollars in losses if you don’t carry a commercial insurance policy with comprehensive coverage.
What makes theft so difficult to combat is that it can be perpetrated by customers and internal employees alike. Internal theft often catches companies off guard.
Finding The Right Commercial Business Insurance
When selecting commercial insurance, remember that some insurers only offer bare-bones policies that leave you vulnerable.
To address this issue, which is common in the industry, we seek to provide better, more comprehensive alternatives with coverage options that ensure you’re protected if you ever need to file a claim.
Your business shouldn’t suffer because of an unexpected setback. With the right policy and insurer on your side, you can keep company operations running smoothly even when you’re dealing with a potential loss.
Our Specialty Insurance Programs
In addition to standard business insurance packages, All n One Bonding & Insurance offers specialty insurance programs for clients who require unique, additional coverage.
One of these specialties is cyber liability insurance.
Cyber Liability Insurance
While not a standard feature of commercial business coverage, more companies are realizing that cyber liability is an indispensable addition to their business insurance policy.
Cyber liability policies vary based on each client’s individual needs, but they typically include coverage for the expenses of a data breach or an attack involving malicious software.
In recent years, businesses have seen a spike in cyber attacks — and, consequently, a rise in the expenses associated with recovery. Even a seemingly small cybersecurity compromise can result in huge liabilities for your companies if customer data is accessed or payment information is captured. ❌
Avoid falling victim to cybercriminals by investing in a cyber liability policy! ✅
Need A Different Type of Commercial Insurance?
All n One Bonding & Insurance offers a full suite of insurance products that mitigate your liabilities and strengthen your security. Call us or visit our Contact page for more information.
