Owning a business of any size comes with risks. Some risks are common to almost any business, others are particular to certain types of business. Having an independent insurance agent who takes the time to understand what risk your business faces is important. At Glick Insurance in Greensboro, NC, we take pride in providing our clients with the finest possible customer service. We understand commercial insurance and we will make suggestions about the right insurance for your business.
Commercial auto insurance
Your business needs to cover any vehicles it owns with commercial auto insurance. The required amount is 30/60/25. That is $30,000 for the first injury in an accident with a total for any single accident of $60,000. Property damage is covered by up to $25,000.
Workers compensation insurance
Workers compensation is required for employers with 3 or more employees. Nearly 100,000 non-fatal work injuries are reported every year in North Carolina. Workers’ compensation insurance protects both employers and employees.
While these are the mandated commercial insurance, your business can benefit from some that are not required,
Commercial property insurance
You can’t operate your business if you lose the things you need to do business, including your location. Property insurance covers all the things you need, like machinery, office equipment, inventory, raw materials, in addition to the physical building.
Commercial liability insurance
Businesses are vulnerable to being sued. Small businesses are particularly vulnerable, with as many as 50% getting sued in any given year. Commercial liability insurance can help your business weather legal action against it.
Business interruption insurance
When adversity hits, your business may not be able to operate. You still need income if you are going to survive. This insurance supplies the cash you need to pay your bills and make your payroll.
Contact Glick Insurance in Greensboro, NC with your commercial insurance questions and needs.