Do I Need Commercial Insurance?

Commercial property and business owners’ policies provide protection against commercial liability. This typically includes coverage for publicly-owned improvements, such as sidewalks and streets. Such property and business owners’ policies typically do not provide coverage for personal assets, such as inventory or computers. 

If a business has a physical location where employees work and customers interact, it is likely to fall under the umbrella of “insurance”. If you are a single proprietor with no employees, you probably do not need to worry about it too much. If you have a regular schedule of activities, such as renting out your basement to complete strangers, you might want to consider getting business insurance. Contact Capital insurance in Spokane, WA for expert advice. 

Commercial Insurance: What You Need To Know

Commercial insurance protects your business against natural and man-made perils. This can include personal liability, property, cargo, and work accident insurance. It protects a company’s assets against losses from theft, fire, and other risks. It also covers property damage and personal injury liability. 

Commercial property and equipment are often the main assets of a business, so it’s important to protect them. If you own or operate a vehicle for commercial use, such as a taxi or limo, you’ll likely want to get commercial auto insurance. You may also want to consider purchasing homeowners’ or renters’ insurance. 

Public liability insurance protects your business from lawsuits filed by people who were hurt or had their property damaged by your business. You will have to have a public liability policy in place for each location in which your business operates. 

A contractor’s policy will protect your business from the financial consequences of a contractor’s liability if the homeowner sues your contractor. If you want to expand, buy another building, or hire contractors to remodel your building, contractor’s insurance will cover your business for the value of its assets. 

Commercial property insurance can be significantly cheaper than public liability insurance, particularly if you have a low-risk profile.

Contact Us Today

Whether or not you need commercial insurance depends on your business and the risks involved. If your business involves selling items to other people, then you’ll likely need a basic business insurance plan. 

If your business involves selling items to the general public, then you’ll likely need to get a commercial insurance plan. To get your customized plan, call us today at Capital insurance in Spokane, WA.