Every business owner knows that they need commercial insurance. It helps protect their investment, livelihood, and hard work - but how? As a business owner, you should know how valuable coverage can save your company. Here are just a few ways.
1.Employees
If one of your employees is injured in the course of their work, your workers' compensation insurance will step in to help. This coverage will help to pay for their medical fees, rehabilitation costs, and lost wages while they are out of work. Keep in mind that every business is at risk of employee injury, from trips and falls to musculoskeletal disorders, and more. Even if you only have one employee, you still need to take out this coverage.
2.Credibility
If you are competing for business with other similar companies, you can increase your credibility by maintaining the right levels of insurance. Many companies do not have the correct insurance policies in place to protect themselves, their employees, or customers. It is becoming more and more popular for large brands to only work with businesses that take actionable steps in protecting themselves and others in the form of insurance.
3.Liability
A common and vital coverage for every business is general liability insurance. Even if you think your business has a low risk of being involved in a liability claim, it is always better to have the coverage in case the unexpected does occur. If a guest falls on your property and injures themselves, or your employee accidentally damages someone's property while on the job, your business could be held liable for all associated expenses. General liability insurance helps to cover these costs as well as legal defense fees if the person decides to sue. Since these issues can often extend to hundreds of thousands of dollars, your business is protected from these costs with general liability coverage.
4.Property
Whether you rent a small office or own a large warehouse, you need to protect the property your business uses. From the structure to the furniture, electronics, and inventory, your business needs all of these components to run smoothly. Property insurance helps to protect these from damage such as fire, theft, vandalism, and natural disasters. For example, if a fire tears through the building and destroys your inventory and part of the property structure, you can rely on this coverage to help repair and replace so that your business gets back on its feet as soon as possible.
Securing the right
business insurance doesn't have to be difficult. The right agents are here to help you. For the right workers' compensation insurance policy,
contact our expert team at Abatelli Group, Inc. today. We serve Whitestone, Flushing, Bayside, Little Neck, and surrounding cities of New York with reliable coverage. We are ready to assist you with all of your insurance needs.
