As a business owner, you take calculated risks every day in, order to keep your business thriving. But what about the risks you haven’t considered? Business insurance is an excellent way to allow you to concentrate on profit, without being blindsided by unexpected liability.

Regardless of what line of business you work in, business insurance can protect you in a host of ways, including:

  • Costs associated with the loss of property
  • Risk of business interruption
  • Protection from lawsuits
  • Worker’s Compensation

The costs associated with a business insurance policy are small compared with the large risks that you’ll be protected against.

If you currently rely on property insurance you are protecting your assets, but not the business itself. If there’s a business interruption or a lawsuit, you need business insurance to ensure that you can keep going.

Our insurance is a collection of protective insurance policies for any business owner to protect against some of the greatest risks in business. It can shield you from losses arising from property, employee, or customer claims.

Here are two reasons to get started right away!

  1. Your business is valuable; don’t let another day go by without shutting the door on risk.
  2. It’s easy and quick to get a no-risk quote for a business insurance policy. Just fill out this simple form, and we'll contact you soon.

Commercial Insurance

If you are a business owner or starting one, you have a lot to learn every step of the way. You may have questions, including "what is commercial insurance?' Does my business need a commercial insurance policy?

Proper insurance and coverage limits are essential in running an effective business and protecting your commercial property and interests. You might know a lot about personal insurance and how it works, but if you are starting a business, commercial insurance can be a mystery.

Commercial insurance is the same as business insurance. They are interchangeable words for the same types of coverage. At Nash Insurance & Associates, we understand that every business is unique. That's why we don't use a one-size-fits-all approach regarding commercial insurance coverage. We look at the type of your business, area of operation, potential risks, and many other factors to offer affordable commercial insurance coverage.

Benefits of Business Insurance

Considering the energy, funds, and the time it took to start and grow your business, you don't want anything to destroy your investment. That's where commercial insurance comes in to protect your business against losses through unforeseen problems. Some of the benefits of having business insurance include:

Avoiding business downfall

Have you thought of what would happen to your business in case of a fire or natural disaster? Business insurance can cover income loss caused by a disaster.

Protecting your employees

Employees are the most valuable assets of a business. You can protect your employees by getting worker's compensation insurance. By protecting your employees, you will be protecting your business from loss and liability claims.

Getting larger contracts

A certificate of insurance reassures your customers that they are working with a reputable and responsible company. Many projects and larger clients need proof of insurance as part of their business risk management approach.

Additional resources

Apart from protecting against losses, insurance companies provide you with legal resources and expert advice on minimizing risks. They will use their resources to prevent future claims. In addition, you can contact insurance companies and seek advice on how to handle certain situations.

Frequently Asked Questions

What are the different types of commercial insurance?

There are many types of commercial insurance for business owners, and choosing the right type is vital for your company. They include:

General Liability Insurance – protects you if someone gets injured on your property due to you or your worker's negligence. General liability insurance covers your business against claims of:

  • Property damage
  • Bodily injury
  • Advertising mistakes
  • Libel

Commercial Auto Insurance- commercial auto insurance policies protect vehicles used in the course of the business. This policy protects you against uninsured motorists while providing comprehensive, collision, and liability coverage.

E & O Insurance – errors and omissions insurance will protect your business if your customers sue you for financial losses they have incurred due to a mistake you made in the process of doing business.

Commercial Property Insurance – also known as business property insurance, this coverage will protect your property and its contents if your business suffers damage or loss from a storm, fire, theft, a plumbing disaster, or other physical destruction.

Cyber Liability Insurance – This insurance coverage protects your business in case of a data breach that affects you and your customers. A cyber liability insurance policy is designed to cover the costs of data breaches and recovering from the breach.

Workers Compensation Insurance – Also referred to as workers comp insurance, this policy provides coverage for the employees who get injured while at work. It includes medical expenses and sometimes part of the lost wages. It also provides rehabilitation provisions and death benefits where necessary.

Landlords Liability Insurance – If a tenant is injured on your property and you are found legally responsible or held liable for the damage done to someone else's property, landlord liability insurance will help you pay for the expenses.

Liquor Liability Insurance – this type of commercial insurance policy protects a business that sells, serves, or distributes liquor. It will cover claims of bodily harm or property damage caused by an intoxicated person after your business served them alcohol.

Restaurant Insurance – Due to the nature of services they offer, restaurants are exposed to a wide range of risks that leave them vulnerable to lawsuits and other liabilities. Restaurant insurance protects business owners from the cost of liability claims.

Contractor Insurance - Contractors face dangerous risks while on the job. To protect your business from work-related accidents, contractors should have contractor insurance. This also includes protection for your employees' and business' assets.

What are the basics of a commercial auto policy?

The basics of commercial auto insurance include:

  • Liability insurance- includes property damage, bodily injury, and uninsured motorists coverage.
  • Physical damage insurance- includes comprehensive and collision coverage.
  • Optional coverage- includes rental reimbursement, towing and labor, medical payments coverage.

Why is it important to have commercial insurance?

Commercial insurance is necessary for any type and size of a business. It protects your business from losses like theft, property damage, lawsuits, and liabilities. When you have business insurance, you will save time, money, and stress, offer benefits to employees and protect your business from unexpected damages.

How can commercial insurance help protect your business?

Commercial insurance for small business owners is a law requirement in most states. It will help protect your customers through a Business Owner's Policy and employees when you have worker's compensation insurance. Also, commercial insurance protects your business against natural disasters like fires, floods, and storms. Any company can be sued and face hefty legal fees. Commercial insurance will cover the costs of the lawsuit.

Now that you are more familiar with various commercial insurance policies, your local insurance agent will help you choose the necessary coverages for your business. At Nash Insurance & Associates, our agents work together to ensure you have the right insurance policy that meets your needs. Contact us today for a commercial insurance quote.