Commercial insurance Arizona
Commercial Insurance Arizona and Business Insurance Coverage
At Blake Insurance Group LLC we represent many A+ carriers which help us find you the best available rate for your business
Many business owners wonder if they need commercial insurance (the answer is yes BTW) but aren’t sure what it is or where they should start looking. Before you begin the search for a policy, it is a good idea to have some general knowledge about commercial insurance.
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What is Business Insurance?
Commercial or business insurance is a type of insurance policy that provides protection for you, your employees, any equipment that you have, and if you own your building, it will cover it as well as long as it is listed on the declarations page of your policy.
If you do not own the building you are in, let’s say you have a retail store and customize the leased space for your shop. There is commercial insurance coverage that would protect that. Unfortunately, lots of people do not think they are responsible for those types of things and overlook the part of their lease where it says that they are responsible for additions and only find out at claim time that there is no coverage for their improvements
Commercial Insurance Coverage
General Liability– This provides coverage if someone is injured at your place of business, says they are walking up to your storefront, and slips in the parking lot. Your liability policy will kick in and cover medical expenses. General liability insurance also provides coverage if an employee damages a customer’s property. Take, for example, a paint contractor painting a customer’s residence and accidentally over-spraying their car. Insurance would provide coverage for the damage to the customer’s vehicle.
Property Coverage– This is for all the items that make up your business, inventory, equipment, computers, etc. If you renovate your leased space, this will cover the improvements, or if you own the building, it will include damage caused by a covered loss.
When you start the application process for commercial insurance, make sure to tell your commercial insurance Arizona agent all parts of your business operations, this will help them place you with the right carrier and provide you with proper coverage. Commercial liability insurance can have exclusions for specific activities; you do not want to find out at claim time that you are not appropriately covered.
You can find small business insurance Arizona carriers that will cover commercial insurance policies for just about every type of (legal) business. If you are looking for business insurance in Tucson Arizona, Oro Valley, Phoenix AZ. Chandler Arizona. Mesa AZ, Scottsdale AZ, Peoria Arizona, Yuma AZ, Surprise AZ, Ajo AZ, Amado AZ, Arizona City, Avra Valley AZ, Casa Grande AZ, Douglas AZ, Marana AZ, Green Valley AZ, Globe AZ, Oracle AZ, Tubac AZ, Sierra Vista AZ, Tempe AZ, Gilbert AZ, Glendale AZ contact Blake Insurance Group today!
Big or small, having the proper business insurance policy in place could be the difference between keeping your doors open or having to shut down your business. Going without commercial liability insurance is not a risk you should take.
Although business insurance is considered an expense, it is often a tax-deductible expense. Anyone who is thinking of starting a new business or buying an existing business should invest the time needed to research the types of insurance they will need for that business. Again, the very best way to do this is to speak with a reputable agent or broker. Once you have a clear idea of exactly what you will need you can then begin to shop for the best prices.
At the very minimum, you want to make sure that your personal liability is covered by some form of business liability insurance. Ignoring this may cost you everything that you have worked for.
General liability insurance
A commercial general liability policy is important for all Arizona businesses. It covers basic third-party risks, such as slip-and-fall injuries, and is often required for a commercial lease. (GLI) is sometimes called business liability insurance or commercial general liability insurance. Your general liability policy provides financial protection if you are held responsible for some of the most common accidents that can occur at a business, such as a customer injury or damages to someone’s property. It also provides coverage if you are forced to defend an accusation of libel or slander
Professional liability insurance
This liability insurance coverage for professional services helps pay for client lawsuits related to mistakes and oversights. It’s also called errors and omissions insurance (E&O). Coverage for professionals and businesses to protect against claims of negligence from clients or customers. Professional liability insurance typically covers negligence, copyright infringement, personal injury, and more
Cyber liability insurance
This policy helps Arizona businesses survive data breaches and cyber attacks by paying for client notification costs, legal fees, and other related expenses. Cyber liability insurance is an insurance policy that provides businesses with a combination of coverage options to help protect the company from data breaches and other cyber security issues. It’s not a question of if your organization will suffer a breach, but when
Business owner’s policy
A BOP bundles commercial property insurance and general liability coverage in one plan. It’s often the most cost-effective type of commercial insurance for an Arizona business. A BOP policy, like most other policies, has certain coverage exclusions that you should be aware of. If you need protection for something that isn’t covered, policy endorsements might be available to extend coverage.
Workers’ compensation insurance
Workers’ comp is required for Arizona businesses that have any number of employees. It also protects sole proprietors from work injury costs that health insurance might deny Workers’ compensation insurance covers medical costs and lost wages for work-related injuries and illnesses. This policy is required in almost every state for businesses that have employees. most workers’ compensation policies include death benefits. These help a deceased employee’s loved ones pay funeral and burial costs after a fatal workplace accident.Workers’ comp can also provide financial assistance for the deceased employee’s family
Commercial auto insurance
This policy is required for business-owned vehicles in Arizona. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage. Commercial auto insurance covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident
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