Every state has its own laws about the commercial insurance that businesses must-have. In Connecticut, two insurance types are required for most businesses. There are also many other types of commercial insurance that your business may need depending on its industry. If you need commercial insurance for your business, call us at White Oak Insurance LLC in Milford, CT.
Workers’ Compensation Insurance
In Connecticut, any business that has employees has to have workers’ compensation insurance on them. This is true whether the employees are seasonal, part-time, or full-time. The only exception to this rule is household, domestic workers who work up to 25 hours a week. For businesses that require this type of insurance coverage, it provides a way to pay for the medical bills of injured or sick workers while on the job. This allows the business to get those bills paid without having to dip into company funds. It also helps employees know that if they should have an accident, there are funds to pay for its expenses.
Commercial Auto Insurance
Every vehicle that is owned by a business in Connecticut must have commercial auto coverage. Personal insurance policies will not cover expenses from an accident that happened while driving for the business. However, personal insurance also won’t cover your private vehicle used for business but not owned by that business. For those vehicles, it’s a good idea to have coverage called hired and non-owned.
Get Your Commercial Insurance
If your business doesn’t have the required insurance that it should, or you want more coverage to keep it safer, don’t hesitate to call us at White Oak Insurance LLC in Milford, CT. Don’t leave your business in danger of enormous medical bills or fines for not having the right insurance.
Your commercial insurance policy in Milford, CT should be customized to fit your business. When you structure it, you need to make sure that you’re getting the protection where you need it the most. White Oak Insurance LLC wants you to keep the following information in mind when you sit down to go over your coverage.
First Threats First
There’s a lot about commercial insurance that is pretty basic. So if a business was located in a part of town with higher instances of theft, they might want more protection for inventory loss. If they were located in a place that experienced a lot of water damage due to flooding, then they’d have extra coverage to ensure they had someone to call when rain was in the forecast or a pipe unexpectedly burst. While anything can happen, it’s good to start with the most likely scenarios.
Additional Things to Consider
When it comes to structuring your commercial insurance, you have to keep in mind how you will scale up your coverage in certain events. For instance, if you’re planning to expand your services or offer new inventory, will you be able to cover those losses should something happen? From liability protection in case you’re sewed to vandalism costs in case criminals break your window, your insurance needs to match the scope of your everyday operations.
White Oak Insurance LLC knows that getting the right commercial insurance policy in Milford, CT isn’t always a simple process. If you have questions about a new policy or you’re looking to renew your old one, our staff is here to give you the right advice. Give us a call today to start looking over the options.
Milford is one of the oldest cities in Connecticut and has a thriving business community. As a business owner, you know that owning your own business can be challenging, and there are plenty of things to worry about. One of them should not be whether your business is protected. Commercial insurance is not one size fits all, and the agents at White Oak Insurance LLC can walk you through the different options that may fit your business.
In Connecticut, the law requires that you protect your employees with workers’ compensation insurance. It protects your employee against work-related injuries or health conditions. Safeguarding your employees helps with retention, so it is a real benefit to your business. The only other type of commercial insurance that you need is commercial vehicle insurance if you have a business owned and used vehicle.
But some types of commercial insurance are more valuable to your business. Commercial property insurance protects not only your actual location, but it also covers your business equipment, inventory, machinery, and other items that you need to do business. Commercial liability insurance protects you from legal action taken against you no matter what the reason. It can be someone hurt on your premise or by one of your products or services and even a disgruntled employee.
Business interruption insurance can be valuable coverage if your business is affected by a covered hazard. Your day to day expenses doesn’t go away just because your company has been damaged.
Having is successful business takes a lot of work. Let the experienced staff at White Oak Insurance LLC in Milford, CT help you to take some of the stress out of business ownership with commercial insurance that is tailored to your business. There is no need to pay for coverage you don’t need. Give the office a call for a no-obligation quote.