Monthly Archives: May 2015

Businesses and Commercial Insurance

Any business who deals with the consumer market will find having insurance is a requirement to run a successful enterprise. This insurance is often referred to as commercial insurance and is meant to offer a level of protection that will protect the business should any issues arise. There are several aspects this insurance covers that will help to ensure that the business never has to close its doors due to lawsuits or simply not having the money to fix repairs or damages.

  • What Commercial Insurance Covers

The categories which commercial insurance at santam covers ranges from the property of the business to the cars that employees may drive on a daily basis. Businesses not only have the property in which their business is housed, but may also have products in warehouses and the like that need protection. If there were to be a fire or vandalism, this insurance kicks in to help cover the losses and can be a great way to avoid more out of pocket expenses. If the business has fleet vehicles for transporting goods or for employees to utilize for sales, then the insurance will also cover the automobiles, which is mandatory in every state.

  • Liability Insurance for Commercial Uses

One of the dangers a business takes on is having someone injured on the premises or affected by something the business does. For example, if an employee were to get hurt on the job, the insurance policy would help arrange care and the like for the injured employee. However, most businesses decide to have liability insurance to protect themselves should a consumer become injured. For example, if a consumer were to enter into a showroom of the business, slip and fall. This is an accident that can happen to any business, despite the precautions which are taken and it can mean a lawsuit with a high amount of money paid to the consumer. With insurance, the business can offset some of these costs.

  • Finding Insurance for your Business

There are several companies that cater to business insurance and it is imperative that the business check out all the companies to find the best rate available. The owner of the business will also want to look into the policy and read more about the components of the individual policy that they are getting. They should look at the deductibles they are paying, as well as the annual amount they are paying. In addition, they should read for any clauses in place that could prevent the insurance company from paying. Through taking the time to research the company properly, the business owner can rest assure they have the correct policy for them.

Helpful Article:

http://www.sba.gov/content/business-insurance