Commercial Insurance 101

We offer a wide variety of insurance coverage for your personal assets and business. Included in these offerings is commercial insurance. But, do you know what commercial insurance is? How do you know if you need it? Today, K. L. Owens and Associates LLC is going to answer those questions for you.

Commercial InsuranceWhat is Commercial Insurance?

Commercial insurance is an umbrella term that covers many types of insurance for your business. These include general liability, umbrella liability, vehicle insurance, Workers Compensation, and more. General liability protects your business against unforeseeable events. This could include an accident at your location that leads to a customer injury and includes coverage if your product or merchandise made a customer sick. Umbrella liability adds an extra layer of coverage and could be very important if your claims exceed the limit of your general liability insurance policy. If your business has its own fleet of vehicles, they will need their own insurance policy too. The coverage will vary depending on how the vehicle is used relative to your business whether you are delivering goods to your customers with your vehicles, or if your vehicles are transporting your customers. Workers Compensation Insurance is required of business owners in order to protect their employees in the case of an on-the-job injury.

Do You Need Commercial Insurance?

If you own a small business, or a business of any type, you know the risk involved. To protect yourself and your assets from potential damages and loss it is important to hold the appropriate insurance policies. Understanding exactly what you need and what you should pay for your coverage can be complicated, but here at K. L. Owens and Associates LLC, our experience and knowledge will help guide you through the process. We look forward to working with you to determine the plans you need to provide sufficient coverage while staying within your budget.

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