As a business owner, no matter small or large, you need an individualized insurance solution to protect your business, your employees, and you from a loss, liability or other risks. Your insurance solution could include coverages such as, Commercial Auto, Property, or Umbrella, Cyber Liability, General, Employment Practices and Professional Liability (Errors & Omissions), Worker's Compensation, and Employee Benefits. Depending on the nature of your business, there may be other unique specialty coverages necessary. A good insurance agent will partner with you to learn about your business and its operations and assess potential exposures for risks and offer appropriate insurance solutions for you and your business' protection.
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Getting Targeted Business Coverage
Like your home, car or other personal items, your commercial ventures also need insurance. The right coverage will cover risks specific to running your business.
Many businesses start their coverage with a package called a Business Owners Policy, or BOP. It can contain property coverage, general liability insurance, business interruption protection and other coverage to safeguard critical assets.
Nevertheless, other commercial insurance exists. Start with a foundation, but consider extra protection.
Do You Need Commercial Auto Insurance?
Standard auto insurance often does not cover cars driven on business. Most commercial enterprises need far-reaching commercial auto insurance to meet their coverage needs. Your policy can contain:
- Liability insurance (bodily injury and property damage coverage)
- Comprehensive and collision insurance
- Uninsured/underinsured coverage
- PIP/medical payments protection
- Towing, rental car and roadside assistance protection
Whether you own a company vehicle or drive your own car, you might need this coverage.
Getting Required Workers’ Compensation Coverage
Workers’ compensation provides supplementary income to employees who get hurt or sick due to actions taken during their normal course of duties. Rather than sue the business for settlements, the employee can use this coverage to pay their medical bills, living expenses and other costs.
Wisconsin requires most businesses to carry workers’ comp insurance. Some exceptions exist, and different industries have different coverage requirements. Click to find out more.
Get Cyber Liability Insurance for Your Data Networks
In case of company network breaches or data losses, threats of identity theft and other harm might impact your customers. Invest in cyber liability insurance, and you can help the business and clients recover from losses impacting their privacy. Click to find out more.
What’s EPLI Insurance, and Why Do You Need it?
EPLI coverage stands for employment practices liability insurance. It’s there if a business’s mistakes lead to claims of harassment, discrimination or similar allegations from employees or prospective hires. Even if these claims are unfounded, you might still face lawsuits and other costs to do damage control. Use this coverage to help cover legal costs, settlements and other financial challenges. Click to find out more.
Why Business Owners Need Life Insurance
By providing a life insurance settlement to your company, you can invest in the company’s continued success after your death.
Many business owners benefit from key person insurance. It’s a life insurance policy for the main actors within the business. The company buys and pays for the coverage. In the event of losing that person, the business can use the policy settlement to make ends meet while recovering.
Should I Offer Employee Benefits?
These are forms of insurance or supplementary income you can provide your employees during their time with you. These can include:
- Health insurance
- Dental and vision insurance
- Life insurance
- Non-insurance like retirement accounts, pension plans and membership perks
At the end of the day, the benefits you provide your employees go a long way towards protecting your overall company morale, retention and security. Click to find out more.
Sparks Insurance—Here When You Need Us
These are just a few of the numerous commercial insurance options out there. Still, depending on your business and industry, you’ll need a tailored policy package.
When you choose Sparks Insurance, we will take a close look at your operations, assets, activities and goals. With a comprehensive analysis of the who, what, how, when and why, we’ll determine the combination of policies that are right for you.
So, don’t put off getting commercial insurance protection. Call us at 262-697-9600 or request a fast, free online quote right now!