Are you a business owner in Warwick, RI? In a disaster, would your business be protected by commercial insurance? Let The Slocum Agency Inc. explain why this is important for your livelihood.
Commercial insurance is critical for all businesses. This insurance covers corporations and businesses, designed to cover the company, employees, and ownership. Commercial insurance comes in many different scenarios as there are many kinds of companies with their own needs and situations.
It offers protection from common losses such as theft, property damage, employee injury, or liability. Adequate insurance will help you recover from these losses, as you risk losing your business.
General liability insurance protects your business from claims ranging from a few hundred dollars to several thousand or more, depending on the incident. Court fees, medical expenses, and legal costs for those involved must also be paid if you operate as a limited company.
Business insurance also helps to:
- Deal with lawsuits that are becoming commonplace
- Enable you to hire and retain good employees
- Meet contractual requirements
- Minimize financial losses
- Protect your employees
- Protect your investments
- Provide peace of mind knowing your livelihood is protected
- Secure loans and funding
If you are a small business owner, there is only one type of insurance you are legally required to have. Employers’ liability insurance covers your business if an employee is injured or claims they have suffered an illness due to being employed by you.
Here are examples of additional types of commercial insurance:
- Business contents insurance
- Business interruption insurance
- Commercial general liability insurance
- Credit risk insurance
- Cyber liability insurance
- Key-man insurance
- Product liability insurance
- Professional indemnity insurance
- Property insurance
- Public liability insurance
Business insurance will help you weather the storm of the unexpected. But don’t let this happen!
Ensure your business is protected. Contact the Slocum Agency Inc. today and let them answer any questions you may have. You will be glad you did.
