When you run a business, it's important that you protect it against unexpected misfortune. One of the best ways to do that is to craft a carefully considered business insurance plan with an experienced agent. Below, Grachek Insurance in Kalispell, MT discusses some of the most important types of commercial insurance coverage you should consider to protect your business.
What Insurance Policies Does Your Business Need?
Commercial Property Coverage
Commercial property coverage pays to repair or replace your business premises if they should be lost or damaged due to fire, storm or other specified events. This is crucial if you own the building and rely on it to generate income. Be aware that, in most cases, earthquake and flood damage are not covered, so to protect yourself against those hazards you'll need a separate rider.
Business Property Coverage
The contents of your building are also important for your operations, and business property coverage reimburses you for losses of furniture, electronics, inventory, and manufacturing equipment. It even covers theft of certain items.
General liability insurance pays to repair or replace any property damaged or destroyed by a member of your team, as well as the cost of medical treatments for injuries. It also pays the legal costs to defend a lawsuit should one arise out of an incident, including court costs, fees, and judgment amounts.
Commercial Auto Insurance
If your business operates one or more business vehicles, you're required to buy commercial auto insurance to comply with state law. You should consider buying more than the minimum amount; collision and comprehensive coverages protect you financially against damages sustained on or off the road.
Workers Compensation Insurance
In Montana, if your business has one or more employees, you are required to buy workers compensation insurance. This benefits workers, since they receive medical treatment for any injuries or illnesses sustained on the job. But it also helps the business, since to take advantage of the policy, workers must forego suing the company for damages.
To have an expert help you design a business, home, auto, or life insurance policy, contact Grachek Insurance in Kalispell. They've been helping companies and individuals throughout Flathead County protect themselves against unexpected events since 1986. Visit their website to view directions to their office, or call (406) 755-4000 to discuss your needs with a commercial insurance professional.