When to Get Commercial Insurance for Your Small Business

Freeway (General)- When to Get Commercial Insurance for Your Small Business

The best time to get insurance depends on your business, but any company could benefit from some type of commercial policy. Finding business insurance quotes online is easy, but it takes planning and budgeting to obtain the right policy for your business. With some guidance, however, the process of finding the right policy is simpler than ever.

Shady or Dangerous Environments
Commercial insurance is a necessity if you think that the area where your business is located is not safe. Moreover, business insurance is a good idea if you have been robbed in the past. Property theft protection is a good type of commercial insurance to have, especially if you have valuable equipment. For example, air conditioner theft is a major problem across the country. Check with your provider to see if such equipment is protected. Moreover, commercial car insurance is worth looking into if you have a fleet of commercial vehicles for your business.

Property insurance should cover the following components:
•    Property
•    Valuables
•    Natural Disasters

Property protection is a particularly wise idea if you live in an area prone to earthquakes or hurricanes. Businesses in Los Angeles should consider coverage due to the prevalence of earthquakes.

High Risk Situations
Business involves risk, of course, but insurance may be a good idea if you face high-pressure deals. If you fear pending litigation, for instance, insurance will cover losses incurred if a judgment is levied against you. If a judge does not rule in your favor, your insurance company could pay the plaintiff if you lose a court case. Commercial car insurance would not only cover any lost revenue, but it may save your business from going under. Consider coverage for other unforeseen circumstances, such as an employee injury on the work site. Insurance can also protect you from any liability or injury that may occur on the business premises.

Home-Based Businesses
Commercial insurance should still be on the radar if you own your business from home. Homeowners’ insurance provides some measure of business protection, but it is generally not comprehensive enough to provide full protection. However, you can add other components to your homeowners’ policy in the form of professional liability. Check with your insurance provider to determine what would be adequate protection for your home-based business.

Product Protection
Product liability coverage protects your business if one of your products malfunctions and injures a customer. An insurance company would pay any judgments against you if you lose a case while in court. This type of coverage is a good idea if you sell electronics or any item that could pose bodily harm.

Mobile Business
Commercial insurance is a must if your business is on wheels. For example, commercial food trucks should be insured in case of accidents or theft. There are a variety of commercial car insurance rates you can get on the market, and the right one for you depends on your current business model.

Is Commercial Insurance Right for Me?
Contact Freeway Insurance at 800-777-5620 for more information on business insurance quotes online. An associate will help you find the best coverage for your business, including commercial car insurance rates you may need.