The insurance policies and coverage you select to protect your business will be one of the most important decisions you make as a business owner. Even the smallest accidents can be financially devastating for a business without the proper insurance coverage. Fortunately, whether you are a contractor, electrician, or other small business owner, there is insurance available for every risk that your business could potentially face. Many types of insurance are optional, while others such as workers’ compensation may be required by law. At the Larson Insurance Agency, we will work closely with you to customize a policy that provides the coverage you and protection you need.
Business Insurance Coverage
Commercial or Business Insurance are blanket terms that typically describe a number of insurance options. Coverage provided in a business insurance policy can offer protection for:
- Damage or loss to a business location as well as its contents.
- Commercial vehicles.
- Lawsuits arising from injury or property damage to others.
- Interruption of normal business operations.
- Benefits for employees who are injured or become sick on the job.
Workers’ compensation, general liability, and property insurance are the most common business insurance coverages available. Most business insurance policies will include these types of coverage at a bare minimum.
Workers’ compensation insurance is a requirement for all businesses in Wisconsin, that have employees, unless they happen to qualify for self-insured status. This insurance guarantees that employees who are affected by a work-related injury or illness receive medical treatment and adequate compensation for wages lost. Workers’ compensation also protects employers from lawsuits that could arise from these injuries or illnesses.
General liability insurance protects businesses against claims of negligence or injury to clients or other third parties. This can include bodily injury, property damage, and personal injury. Attorney fees, damages, and medical expenses that your business may incur would also be covered under general liability insurance.
Property Insurance will protect your business from unexpected damages resulting from events such as fire, hail, strong storms, and other natural disasters. Physical assets including buildings and their contents, such as furniture and inventory, are covered under property insurance. Outdoor items such as landscaping or signs may also be covered.
A variety of other business insurance programs exist, but you may not know which your business needs. At the Larson Insurance Agency, we work to understand your needs and goals so that we can provide you with the most meaningful options for anything your unique business may encounter. Other commercial insurance options include:
- Business Interruption Insurance
- Business Crime Insurance
- Commercial Auto Insurance
- Umbrella Insurance Coverage
Contact us today to speak with one of our knowledgeable experts about the commercial insurance options needed to protect your business, your employees, and your customers. We offer insurance solutions throughout Wisconsin.