What Commercial Insurance can do for a New Business

Are you thinking about starting your own business? There are a few things you’ll need to do to protect yourself once you get going. First, start by getting with an insurance agent to walk you through the different coverages you’ll need. At ALLConnecticut Insurance in West Hartford, CT, their agent can go over commercial insurance policies for your new business.

Basic Commercial Insurance Coverage

  • Commercial General Liability – offers protection for incidents that you are responsible for. It can protect your business and employees.
  • Commercial Auto – accidents that are covered by commercial auto insurance can protect you if one of your employees is involved in an accident. If that accident results in property or bodily injury damage, then you’ll avoid paying enormous out-of-pocket expenses.
  • Commercial Property Insurance – usually covers the building, furniture, inventory, and other people’s property. Check with your insurance agent to determine if property insurance is covered by damage due to fire, water, lightning, theft, vandalism, or storms. Include your business equipment in your coverage. Things like computers, printers, cash registers, tools, or desks could be covered under your policy.

Other Optional Coverage

Depending on the type of business you own, you can adjust your coverage based on your company’s needs. For example, a restaurant will have different insurance needs than a contractor. Here are a few options:

  • Professional Liability – also known as Errors & Omissions, is coverage for certain types of professionals, such as contractors, lawyers, and doctors.
  • Worker’s Compensation – is used for employees who are injured while on the job.
  • Cyber Insurance – can protect against loss as a result of a breach in the safety of customer information, such as social security numbers, addresses, and account information.

If you’re in the area, stop by ALLConnecticut Insurance in West Hartford, CT and discuss what type of commercial coverage you should add to your policy for your new business.