If you own a business, then you know that having the right commercial insurance is essential for protecting yourself and your employees from financial losses. But how much commercial insurance do you need in Lafayette, IN? That’s a question we at Blevins Insurance Agency are frequently asked.
Commercial Insurance Coverage
When it comes to purchasing commercial insurance, there is no one-size-fits-all solution. The amount of coverage you need depends on the type and size of your business and the industry you operate in. Certain types of businesses, such as those in the construction industry, may require additional coverage due to their higher risk profile.
The first step is to assess all of your potential exposures so that you can determine what type and amount of coverage best meet your needs. For example, if your business operates out of rented premises or owns any vehicles, then you will need property damage and liability coverage respectively. You may also want to consider cyber liability insurance if your company stores customer data electronically or has an online presence.
No matter what type of business you run, there are certain basic forms of commercial insurance that every business should carry including general liability, product liability, professional liability and workers’ compensation insurance. Your specific policy limits should reflect both the size and scope of operations as well as the level of risk associated with them. In addition, depending upon the industry in which you operate you may need additional specialty policies for even more comprehensive protection such as errors and omissions or pollution legal liability coverage.
Give Us A Call
The right amount of commercial insurance is essential for protecting yourself against financial loss related to unexpected risks associated with running a business. For more information, call Blevins Insurance Agency today. We serve the Lafayette, IN area.