As a business owner, you need to secure a commercial insurance policy to protect the finances of your company. We provide commercial insurance coverage for businesses in Pryor, OK at Safe Insure Plus LLC.
It’s important to do your research and ask the right questions when you’re choosing your commercial insurance coverage options. The following are three frequently asked questions regarding commercial insurance.
What is covered by a commercial insurance policy?
There is really no such thing as a standard commercial insurance policy. Commercial insurance policies are tailored to the needs of specific companies.
The coverage your commercial insurance policy provides will depend on what type of coverage you purchased. That’s why it’s so important to put adequate time into researching commercial insurance and determining what your company’s insurance needs are.
Am I required to purchase commercial insurance?
Some companies are required to purchase certain types of commercial insurance. For example, companies need commercial auto coverage if their business activities rely on the use of vehicles. Also, copanies need workers’ compensation coverage if they hire employees.
It’s important to purchase any types of coverage that are required for your company. Otherwise, your company could potentially face severe consequences.
What types of commercial insurance do I need?
To figure out what types of coverage your company needs, analyze your company’s liability risks. Also, put some thought into the extent of your company’s assets that you want to protect through insurance coverage.
Business liability and commercial property insurance are the two major types of commercial insurance. Your company’s liability risks depend on several factors including the industry your company operates in. If your company owns the property, it’s a good idea to invest in commercial property insurance.
We can answer these and more of your questions about commercial insurance at Safe Insure Plus LLC. Contact us today to learn more about the commercial insurance solutions we provide for businesses in Pryor, OK.