Protecting Your Spokane Enterprise: Risk Management with Capital Insurance

The Vibrant Spokane Business Scene

Running a business in Spokane, WA, can be thrilling and engaging. However, it can occasionally bring with it a fair share of stress. One way to mitigate some of that stress is to ensure you have apt coverage where you need it most. In particular, a sound commercial insurance policy plays a pivotal role in risk management. At Capital Insurance, we’re committed to helping you construct a tailored policy that best fits your business.

Business Property Protection

The first step to risk mitigation is to safeguard your business property. Even if you run a business from home, you will still need property insurance. Many homeowners’ insurance policies may not provide the coverage you’d expect under home-based business scenarios.

Whether you own a single or multiple properties, their protection against unforeseen incidents becomes critical.

Asset Coverage

It’s key to ensure that your commercial insurance encompasses all your assets. Therefore, the affected items can be repaired or replaced if an incident occurs. Your business assets might include:

  • Inventory
  • Equipment
  • Computers
  • Furniture

The more substantial your asset base, the more extensive your insurance should be.

Employee Coverage

If you have employees, consider what would happen if they were injured on the job. A comprehensive insurance plan that includes worker protection can help minimize lawsuits and related issues.

Maximize Your Protection

Many businesses face closure due to inadequate commercial insurance protection. It’s also important to update your insurance coverage as your business grows.

Get personalized assistance with safeguarding your business in Spokane, WA. Call us at Capital Insurance today. One of our insurance agents will discuss the unique aspects of your business and help craft a policy suited to your needs.

Why do you need commercial insurance for your business?

Being a small business owner is a dream for a lot of people. When you are looking for a place to start a new business, coming to Spokane, WA is a good option. This is a growing community that has a lot to offer small businesses. While there is a lot of opportunity here, you do need to protect the company as well as possible. A great way to do this is with a commercial insurance plan.

You will need to have a commercial insurance plan for various reasons:

Cover Business Assets

An important reason for any business to have a commercial insurance plan is to cover business assets. When you start a company, you are bound to need various assets to get the company off the ground. If you have a commercial insurance plan, you will have coverage to replace or repair these assets in many situations. 

Reduce Liability Risks

It is also a good idea to have a commercial insurance plan to reduce your liability risks. A business in any industry is going to take on liability risks. If you are found liable for an accident, it could be a large financial setback. With insurance, you will have support in these situations. 

Meet Obligations

You may also need to have a commercial insurance plan to meet insurance obligations. Most businesses will sign agreements that require insurance. These can include loan documents, lease agreements, or vendor or client contracts that have a vested interest in your business. 

Reach Out To Us

Overall, any business owner in the Spokane, WA area should take their insurance needs seriously. When you are looking for a new commercial insurance plan here, it would be smart to call Capital Insurance. Our professionals with Capital Insurance can help you create a plan that is ideal for your situation. 

Is it time to upgrade the commercial insurance policy protecting your business?

If you own or operate a business in the greater Spokane, WA area and are looking for an agency to help you with your commercial insurance needs, Capital Insurance is here for you.

Now is an ideal time to upgrade your commercial insurance policy.

As a company grows and changes, so too do its insurance needs. The commercial policy that you obtained when your company was first starting out, may not be adequate for your current needs. Now is a good time to sit down and fully review all of your commercial insurance policies. 

When you have a clear understanding of your current coverage, it is easier to identify any gaps that there may be in protection for your company. And, with a more comprehensive policy, you are able to enjoy further protection. While every policy is different, there are many advantages that come with those that are more comprehensive in nature.

If you have questions or want to ensure that your current commercial policy is the right policy for your company’s current and future needs, it makes sense to sit down with a local agent. Upgrading your commercial policy to one that is more comprehensive is not something to put off until the future. With the right insurance in place, you will gain the peace of mind that comes with knowing that your business has the protection it needs. 

Our team is here to help with all of your commercial insurance needs

Capital Insurance is proud to serve the greater Spokane, WA business community. If you have questions about your commercial insurance needs, contact our office today. We are happy to meet with you to review your unique insurance situation and provide any information that you need. 

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.

What Steps Do I Take If My Business Experiences Storm Damage?

Storms are unpredictable. While you may know they are coming, you don’t know what type of damage they can cause until the storm has passed and you are left to assess the damage. The agents of Capital Insurance serve local businesses in the Spokane, WA area. It’s important that you review your commercial policy every few years. You should also be communicating with your insurance agent to make sure that your existing coverage is sufficient.

Secure Your Building

In the event that your business does receive some type of storm damage, you will have to make sure your business is secured. This may include placing a tarp over roof damage or putting boards over broken windows. You should also check your security system and replace any cameras that may have been damaged.

Call Your Insurance Agent Immediately

While you are securing your property, you need to be in contact with your insurance agent. Once you call them, they can send out an adjuster to determine the extent of the damage and provide you with the information you need to file your claim. 

Assess the Damage

While the adjuster will assess the damage for the insurance company, you will also need to do an assessment. You will need to evaluate the damage and use that information to rebuild or make repairs. Is there something you want to add or change? This is the time to do it.

The agents of Capital Insurance work hand in hand with business owners in Spokane, WA to help them get their business repaired and the doors open. Don’t wait until you have storm damage to discuss your options with your insurance agent. Set up an appointment today so you can get the information you need before any storm damage occurs.