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As a business owner, you can’t avoid disasters or catastrophes for long. Sometimes they happen on the day of your grand opening. To protect your business, you must invest in general liability insurance in Green Bay. Without it, all your assets are at risk if something happens, whether the cause was a mistake your employee made, a defective product, or an accident on your store premises.
Liability insurance covers the cost of your legal defense. If you’re required to pay damages, your liability insurance will also pay those up to the policy limit. For maximum protection, get as much liability coverage as you can afford and maybe consider adding an umbrella policy. Legal costs add up quickly and can easily lead a small company into bankruptcy.
Your business may require additional insurance policies. For example, you may need commercial vehicle insurance, commercial property insurance, and workers’ compensation insurance besides general liability coverage.
If you use vehicles in the course of doing business, even if the business doesn’t own the vehicles, you probably need commercial auto insurance. A personal auto policy doesn’t protect you if you cause an accident during a delivery to a customer. Your commercial vehicle insurance policy must cover your company cars, the drivers, and uninsured motorists. You also want to make sure your liability portion is high enough unless you already have an umbrella policy that makes up the difference.
Commercial property is too valuable to not have it insured. While you’re not legally required to carry property insurance, it’s in your best interest to protect your company’s most important assets. Property insurance protects the dwelling and reimburses you for the costs of repair or replacement caused by a covered event, including storm, hail, wind, theft, and fire.
If you have employees, you must carry workers’ compensation insurance. If one of your employees gets injured on the job, workers’ comp will pay for medical expenses. Workers’ comp can also pay for physical therapy if needed. It doesn’t matter if the accident was the employee’s fault or not for workers’ comp to cover the expenses. As long as the employee was working for you, even if they’re not on your company’s premises, you can file a claim for workers’ comp.
This might be the most important insurance policy you can get. Business liability insurance in Green Bay protects your company’s assets in case someone files a legal claim against you for whatever reason. Your vehicle and property insurance also include a liability portion, but you want to get as much liability coverage as you can afford to protect your company’s assets.
It depends on the type of business you run. You may need commercial property and vehicle insurance. If you have employees, you need workers’ compensation insurance. All businesses should carry a general liability policy to protect the company’s financial assets. Talk to our insurance specialists to see what other coverages are available and necessary for your business.
Prior acts coverage protects you against claims that happened before the policy took effect. For example, a customer might make a claim against your roofing company a year or two after you installed the roof. If you’ve switched policies or were uninsured then, you’d need prior acts coverage to protect yourself from those types of claims.
We recommend getting as much liability coverage as you can afford to give your company the maximum protection. The more assets you have, the more liability coverage you want to protect those assets. You might purchase an umbrella liability policy for additional coverage.
Our insurance specialists are here to help you with all your business insurance needs in Green Bay. We can’t prevent accidents from happening, but we can plan for them. It’s our goal to help you protect the company you’ve worked so hard to build by providing you with a customized insurance policy you need. Contact us today for your business liability insurance needs.