Commercial insurance can benefit almost every business. It is customizable to your particular business, and you only need to purchase lines that make sense to you. Owning a business is risky, and commercial insurance is designed to mitigate some of that risk. Having an insurance agent who knows you and your business makes it easier to get the insurance you actually need. At Marla Williams Agency in Kansas, we take the time to get to know our clients.
What are some types of commercial insurance to consider?
Commercial insurance comes in some general categories that, with customization, will be appropriate for almost every business. The most common types are:
- Commercial property insurance
- Commercial liability insurance
- Workers compensation insurance
- Business interruption insurance
- Commercial auto insurance
What is a business owner’s policy?
A Business Owners Policy (BOP) is one policy combining two of the most popular types of commercial insurance. It includes commercial property insurance and commercial liability insurance. Most businesses can benefit from these two types of coverage, and by buying one policy that covers two areas of risk, you can usually save money.
Are businesses in Kansas required to carry commercial insurance?
Yes, in Kansas, two types of commercial insurance are required, workers’ compensation and commercial auto insurance. All employers require workers’ compensation with a gross payroll of more than $20,000 except for certain agricultural employers. If your company owns any vehicles, they must have commercial auto insurance in the amount of 25/50/25 and equal amounts of uninsured motorists’ coverage.
If I rent the building, do I still need commercial property insurance?
Commercial property insurance covers so much more than just the physical building housing your business. It protects your machinery, office equipment, electronics, raw materials, inventory, and even your records. This insurance protects what you need to do business and is vital.
Contact Marla Williams Agency in Kansas for all your commercial insurance needs.