What Is Commercial Insurance?
As the name would suggest, commercial insurance protects your business, including your employees and business owners. Finding the right type of business insurance can be a challenge as no two businesses are the same. There’s a reason why more Colorado business owners are choosing the Scheibe Agency for all their commercial business insurance needs. Get a business insurance quote today by calling us at 1-303-623-1997 and discover the difference for yourself.
Business Owners Policy (BOP)
Let’s look at a good example. Take an auto shop and a pizza shop for example. The auto shop would have different insurance needs versus that of the pizza shop. This is where a business owners policy can help you. A BOP can combine different insurances to help fully protect your business.
A business owners policy can help you combine general liability insurance, commercial property insurance, crime insurance and other coverages. Business owners can also choose the best business insurance policy based on their industry.
Commercial Business Insurance Defined
There’s a lot of different insurance coverages that can be included in a commercial business insurance policy. Defined, commercial insurance is a wide range of coverage options to protect your business. These types of policies can include;
- Property Insurance
- Liability Insurance
- Crime Insurance
- Commercial Auto insurance
- Equipment Breakdown Insurance
- Workers’ Compensation Insurance
- Business Interruption Insurance
Do I Need Business Insurance?
In most U.S. states, there’s laws that require you to have insurance for your business. This usually includes;
- Workers’ Compensation Insurance
- Unemployment Insurance
- Disability Insurance
With that being said, without liability insurance, your business would have to pay the costs of a claim or lawsuit out-of-pocket. For many businesses, that could become the “end” of your business as you know it.
Insurance for your business can also protect your businesses from financial risks of property loss. The costs of repairing or replacing physical property after fire, theft, vandalism and more could be devastating without a commercial property insurance policy helping cover the costs. Without insurance, companies that incur costs as a result of common business exposures like: property damage; legal claims by third parties; and work-related employee illness and injury, may not be able to afford to stay in business. That’s something you don’t want to be involved in, make the preparations now to ensure your business is protected.
Commercial Insurance Cost
Most business owners want to know what they can cover and how much business insurance cost. While we recommend calling us at 1-303-623-1997 to get an accurate commercial business insurance quote, here’s a few other factors that determine the cost of coverage.
- Business Location
- Number Of Employees
- Gross Annual Revenue
- Years In Business
- Rent Or Owning Business Vehicles
- Rent Or Owning Business Building
Anyone of these factors can influence how much you pay for commercial insurance.
Shop And Compare The Best Commercial Insurance Rates
You’re only one phone call away from getting the right coverage at a great rate. Ready to start comparing commercial business insurance rates? Give us a call today at 1-303-623-1997 to get started.
Give Your Business The Protection It Deserves
Get In Touch
Do you have a question about getting business insurance or need to get a free quote? You can reach our office by calling 1-303-623-1997 or you can use our web form below.