Why Your Business Needs Commercial Insurance Coverage

Investing in a business is an exciting time, but it is a huge commitment, and one that doesn’t take off overnight. Whether it will develop into a successful one can often be determined by the time, money, energy, and dedication you put forth into it. But what happens if your brand new company is affected by an unfortunate event such as a natural disaster, lawsuit, or theft case? Unfortunately these occurrences do happen, and without the proper protection and security measures in place to ensure safety, you could lose everything you worked so hard to accomplish.

Commercial Insurance is available specifically for these types of risks, and helps to protect you, your company, and your employees from harm.

So exactly what assets are covered by Commercial Insurance?


Property Protection
Should your workplace experience a fire or flood, a commercial insurance policy will cover any damage or loss incurred by the affects. This coverage relates to the physical office building itself (if owned) but it also includes protection for anything inside such as office equipment, furniture, computers, or supplies. Essentially, commercial insurance will look after any and all belongings that require replacing. In the event that your building is affected by a break and entry, a commercial insurance policy will protect you from the financial loss you may experience. In both cases without the security of Commercial Insurance, your business may never be able to recover from the aftermath.


Legal Protection
Commercial insurance or Commercial General Liability (CGL) covers you for Bodily Injury and Property Damage that you are negligent for or allegedly negligent for. It important to remember that the majority of law suits are claiming alleged negligence; your actions may have carried no connection to an incident but your presence on the job site brings you into question, requiring legal representation at great financial cost. While conducting your business, making products, completing products or your premises all carry liability exposures that can be protected by purchasing commercial insurance.  While advertising your business if you slander your competition they might take offence and take legal action, the CGL policy can insure you for this unintentional mistake.  If any type of claim is made, it can be extremely difficult and costly to defend yourself in court; in fact the claim costs could bankrupt your business. With the aid of Commercial Insurance, a small yearly premium provides you with financial protection and peace of mind, knowing your business is covered.


Employee Protection
Employees are considered agents of your business, while on the job their actions are the actions of the business.  Should you ask a friend to get coffee for yourself and employees, your friend is now your agent and acting employee.  An actual case was tried in this manner where a friend of a business owner volunteered to get coffee, had an accident and the non-owned auto portion of the Commercial General Liability (CGL) policy responded to defend the employer. Commercial insurance liability limits can be purchased to pay legal settlements plus defense costs. When money is involved the closest of friends may have no alternative but to turn to litigation and at all times Commercial insurance purchased through a CGL is your best protection.

One major commercial insurance loss can easily exceed all the premiums you will ever pay in your lifetime. Commercial Insurance can be customized in a package that specifically fits the needs of your business, and industry requirements.  Will Marshall Insurance Brokers, offer various insurance products for many types of commercial business.

Contact us for more information at 705-726-2551

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