Commercial insurance is not just one insurance. It is many different insurance protections. The type of commercial insurance that you need to cover your business should be tailored to your particular business. At Nieroda Insurance Agency in Saint Charles, MO our experienced agents know the questions to ask in order to determine which types of commercial insurance would be a benefit to your business and which ones would not.
Some commercial insurance is more generally beneficial to many different types of businesses in many different locations. Others are specialized to fit particular types of business. These are three important commercial insurance coverages.
Commercial Property Insurance
Commercial property insurance is something that almost every business needs whether you own your property, rent, or work from home. It covers the physical assets of your business. This includes things like machinery, office equipment, inventory, and even the sign outside your business. Common hazards covered are fire, explosion, vandalism. bursting pipes and theft. Exclusions include floods and earthquakes which may be covered under separate policies.
Workers’ Compensation
In Missouri, employers are mandated to carry workers’ compensation insurance. Most businesses must have 5 or more employees to be required to carry the insurance but in the construction industry, only one employee is necessary.
Commercial Liability
Commercial liability insurance can be the difference between staying in business and closing your doors. In the event that a lawsuit is brought against you and a judgment won, it will help to pay that judgment up to the amount on your policy. Having to pay this out of pocket could cost you your business.
At Nieroda Insurance Agency in Saint Charles, MO we think that every business should have a commercial insurance policy that fits their business. Come in or give us a call to make an appointment to sit down with a knowledgable member of our team to discuss your needs.