Are you the owner of a Kansas business? Are you adequately insured? Our team of insurance experts at Marla Williams Agency can provide the protection your business needs.
Commercial Insurance: Vital Protection For Your Business
Do you wonder why commercial insurance is important for your business? It helps to cover the costs related to liability claims and property damage. Without this coverage, a business owner needs to pay out of pocket for costly damage or legal claims against their business. This could be the difference between closing your doors forever or remaining in business.
Commercial insurance is typically a one-year contract between an insurance company and the business owner in which the insurance company assumes responsibility for the business liability in exchange for a premium.
Most small businesses should have a BOP or business owner’s policy
It combines business liability, business property, and business income protection in one policy. Business property is sometimes referred to as “commercial property” and helps to protect the physical location of the business and its assets.
The peace of mind and protection this coverage offers are critical. If you have an employee that gets hurt on the job or becomes seriously ill as a result of his or her work, workers’ compensation insurance helps to pay medical costs, reimburse them for lost wages, and provide funeral expenses if needed.
If you have a customer that falls and gets injured on your business property, this coverage will help to pay for associated medical expenses and in the event of a lawsuit, the business will not need to pay out of pocket for the damages.
As with all types of insurance coverage, there are some things this coverage will not cover:
- Intentional wrongdoing
- General liabilities for day-to-day accidents not directly related to workplace activities
- Illegal activities
- Employee disputes, such as if an employee files a suit based on discrimination, will not be covered under commercial insurance.
- False advertising
Looking To Protect Your Business in Kansas?
Let us at Marla Williams Agency provide the protection your business needs. Contact us today, and we will be happy to answer your questions.