All businesses are required by law to get some insurance coverage, for instance, workmen insurance covers to protect their employees against occupational hazards and unemployment. However, additional commercial insurance will provide you with peace of mind as it will offer protection against many other risks.
What Is Commercial Insurance?
It is a contract between a business (companies, partnerships, sole proprietorships, self-employed persons, etc) and an insurer to provide coverage against various risks commercial enterprises face.
Why Your Business Requires Commercial Insurance:
To Protect Its Automobiles
If your business has vehicles, you do not qualify for personal auto-insurance, but commercial auto insurance. This cover protects these vehicles from theft, break-ins, accidents, and other issues highlighted in the policy.
For Protection against Professional Liability
Professional liability is essential in industries where your business can be sued by clients due to damages arising from services rendered. It is compulsory for physicians in seven states and law firms in one state. You need to determine from your industry regulatory body whether it is a mandatory requirement.
For Protection against Losses Due To Damage or Theft of Business Property
In case a fire, flood, or break-in occurred at your business premises, the losses would be massive. Protect yourself and your inventory from these eventualities with a reliable commercial property cover from Henderson Insurance Agency.
For Protection against Wrongful Dismissal Suits
If your business has employees, you run the risk of being sued for damages due to unfair dismissal, harassment, discrimination, and other claims. These suits can have a serious impact on your business, so take a proactive step to protect yourself against them with an employment practice insurance cover.
If you are a business in Harrisburg, PA, Henderson Insurance Agency provides commercial auto-insurance and workers compensation, which are compulsory in Pennsylvania. Visit their website for more information.