The potential risk of encountering legal compliance issues, lawsuits, hazards, and different forms of losses happen every day to any business. Therefore, every business needs commercial insurance to protect itself against these perils. Here is a look at different types of commercial insurance in Buford, GA you should consider.
The purpose of property insurance is to protect your business’s buildings and the contents inside of them. Many carriers provide additional coverage for loss of rent and inflation guards. This means that you should purchase property insurance even if you’re renting your business premises. The property policy that you’ll purchase can have coinsurance, a total insurable, and value deductibles.
The law requires your business to carry Workers’ Compensation insurance for all employees. The policy provides lost wage benefit and medical for employees who get injured at the workplace. In fact, the insurance will protect your business against employee lawsuits. Your Workers’ Compensation policy from Town & Country Insurance pays for lost wages and medical expenses until the employee is fully reimbursed for his or her losses.
It is advisable to have general liability to protect your business in the event that you encounter a lawsuit. The liability coverage will cover defense costs and perhaps settlements up to the limit of your general liability policy. Typically, the policy is split up into aggregate limit, premises limit, and products operations limit. The aggregate limit is the maximum amount of payout to all the claims combined while the premises and operations limits are designed for paying individual claims or occurrences. In most cases, liability insurance policies have additional coverages for premises that your business rents, medical payments, and non-owned car liability.
This is a very crucial policy for property damage and automobile liability. The automobile liability protects your business against lawsuits that stem from the business’s use of vehicles. Property damage protects your business from any damage to the business vehicles and is subject to deductibles.
It’s important to protect your investment against unforeseen risks. Do you need help determining the type of commercial insurance suitable for your business? Contact us today, at Town & Country Insurance, for more information and guidelines on how to secure affordable commercial insurance.