When Do I Need Commercial Insurance?

Business owners have a lot of things to worry about – making sure their business is profitable, growing their customer base, and so on. But one thing that often gets overlooked is insurance.

Many small business owners assume that because they are not a big company, they don’t need commercial insurance. This is a huge mistake. Every business should have some form of commercial insurance, no matter how small it is.

Fortress Insurance Agency in Overland Park, KS can help you get commercial insurance for your business protection.

Here are some instances when you need commercial insurance:

When Launching a Business

One of the first things you should do when launching a business is to get commercial insurance. This will protect your business from any liability claims that may come up. If someone sues your company, commercial insurance will cover the legal fees and any settlements that you may have to pay.

Additionally, commercial insurance will also protect your business property. If your office is damaged in a fire or flood, your commercial insurance policy will cover the cost of repairs.

If You Hire New Employees

As your business grows, you’ll need to hire new employees. When you do, you’ll need to get workers’ compensation insurance. This type of insurance will cover your employees if they are injured on the job.

Additionally, workers’ compensation insurance is required in most states, so it’s something that you can’t afford to skip out on. You should also consider getting general liability insurance, which will protect your business if one of your employees is sued for something like discrimination or sexual harassment.

When You Purchase New Equipment

If you purchase new equipment for your business, you’ll need to ensure that it’s covered by insurance. Otherwise, if the equipment is damaged or stolen, you’ll have to pay out of pocket for the repairs or replacement.

Most commercial insurance policies will cover business equipment, so be sure to talk to your agent about this. You may need to purchase a separate policy if you have a lot of expensive equipment, such as computers or machinery.

Get Commercial Insurance Today

These are just a few of the times when you need commercial insurance. If you’re unsure whether your business needs this type of coverage, contact Fortress Insurance Agency in Overland Park, KS. We’ll be happy to help you assess your risks and choose the right policy for your business.

Don’t wait – get commercial insurance today to ensure that your business is protected.