Frequently Asked Questions About Commercial Insurance

The type of insurance you need depends on your business type, size, and industry. Generally, most businesses need general liability insurance, and if you have employees, workers' compensation is required by law in most states. We can help assess your specific needs.

General liability covers bodily injury, property damage, and personal injury claims that occur on your premises or as a result of your operations. Professional liability (errors & omissions) covers claims related to professional mistakes, negligence, or failure to perform professional duties.

Generally, subcontractors should have their own insurance. However, you may need additional coverage or endorsements to protect yourself if a subcontractor's work causes damage. We can review your specific situation and recommend the appropriate coverage.

Workers' compensation is required by law in most states, regardless of the number of employees. It protects both you and your employees by covering medical expenses and lost wages for work-related injuries, while also protecting your business from lawsuits.

Typically, your commercial auto policy doesn't cover employees' personal vehicles. You may need hired and non-owned auto liability coverage to protect your business when employees use their own vehicles for work purposes.

Coverage amounts depend on your business size, industry, assets, and risk exposure. We'll conduct a thorough assessment of your business to recommend appropriate coverage limits that protect your assets without over-insuring.

An umbrella policy provides additional liability coverage beyond your primary policies. It's valuable if you have significant assets or face higher liability risks. We can help determine if an umbrella policy makes sense for your situation.

Premiums can increase due to industry-wide trends, changes in your business operations, increased risk exposure, or general market conditions. We'll review your policy and help you understand any changes and explore options to manage costs.

Without insurance, you're personally liable for damages, legal fees, and settlements. This could result in losing business assets, personal assets, or even bankruptcy. Insurance protects your business and personal financial security.

Replacement cost coverage pays to replace damaged property with new items of similar kind and quality. Actual cash value (ACV) pays the replacement cost minus depreciation. Replacement cost provides better protection but typically costs more.