Business Owner’s Insurance Options
Commercial insurance is a type of insurance policy that consists of various coverages mainly designed to protect companies, business owners, and employees. It is a crucial insurance policy that every business should have because the futures of companies are not certain (anything can happen). This type of insurance is also referred to as business insurance. It does not come as one size fit insurance for all companies but varies because businesses are not the same.
Norton Insurance Agency is a full-service insurance company that offers this type of insurance and other policies to other business companies. Our company is dedicated to protecting its clients by providing them with various coverage options such as auto, home, farm, life, and business. We mainly operate from Cheraw, South Carolina.
The mission of our prestigious company is to give our clients a relationship that is built on trust by advising them on the best insurance cover that fits their personal and business needs.
Types of Commercial Insurance Policies
- Commercial Property Insurance – this type of policy will cover the physical assets of your company. Such assets may include furniture, building, inventory, and equipment. Our company provides you with this policy even if you are working from home. Our commercial property insurance policy protects the company’s assets from explosions, fires, storms, vandalism, and theft. However, floods and earthquakes are not covered by the policy unless a company decides to include such perils.
- Commercial Auto Insurance – commercial auto insurance policy helps in protecting your employees and business from accidents and damages that are related to vehicle operations. What kind of vehicles is covered by our auto policy? Vehicles may include food trucks, box trucks, service utility trucks, work vans, and other large commercial vehicles in your company. This policy covers for the equipment inside the vehicle, including the employees who are operating the vehicles. Many people assume that this policy covers only trucks, but it can also carter for the regular cars and other automobiles that you are using for business losses.
- Business Income Insurance – it is also called business interruption insurance. This type of policy covers the losses that a company incurs after suffering from a disaster. A company might experience losses that might even lead to its closure. Business income insurance can help such a company to regain its financial strength by covering all its losses as well as the profit that it would have earned without the crisis. It is different from the commercial property insurance as it goes an extra mile to also cover for the profits.
- Workers’ Compensation Insurance – this type of business insurance policy provides medical benefits and wage replacement to employees who have sustained injuries in the course of their service in a company. It ensures the security of the employees in a company, but its plans differ among various jurisdictions. Our workers’ compensation insurance policy can also cover vocational rehabilitation. However, general damage for suffering and pain that is caused by employer negligence is not covered by this type of policy.
- Cyber Liability Insurance – the cyber liability insurance policy protects companies from losses and risks caused by cyber insecurities such as viruses and cybercrimes. Moreover, the policy covers all risks related to activities that deal with information technology. It is an essential cover that every business should have in the modern world, considering that many companies have embraced technology.
Benefits of Commercial Insurance Policies
- Protect the image of a business – The policies help in protecting the image of a company, especially when it faces financial crises. This is because the company will keep on running as usual, and it will be protected from losing its clients.
- Provide Injury Cover – Employees would like to work in an environment where they feel protected and valued. Policies of business insurance cover injuries that employees may sustain in during their service in a company.
- Company’s properties are protected – Most of the physical assets that a company has can be protected by a commercial cover ranging from automobile, machinery to high tech equipment.
- Financial Losses are minimized – Business operates with the aim of maximizing profits and minimizing losses. The policies help in reducing the losses that your company may incur during a financial crisis.
- Promote continuity of businesses – When you have a commercial cover policy, you will not be at risk of closing your business at any time. When you reach such extents of closing your company because of financial issues or any other challenges, the policies come in and help you revive your strength in business.