Regardless of your Huntley, IL business size, it would help if you had commercial insurance to thrive in the uncertain business environment. Like health or car insurance, commercial insurance is one coverage that you wish you never have to use. But because you can’t predict risks, business insurance is the safety net you run to when the unthinkable strikes your business venture.
Unfortunately, many small businesses operate without commercial insurance. In fact, many have confessed to have not bought commercial insurance after one year of being in operation. While this might seem like a saving, it’s a recipe for disaster. Just one catastrophe is enough to wipe your beloved business. In light of this, August Vincent Insurance Agency shares must-have coverages for a small business.
Liability coverage
If you live in America, you know that legal suits can strike anytime. And boy, you better have liability coverage when lawsuits come calling. Legal cases can be expensive, especially when ruled against your favor. As such, you need liability coverage to cover claims against property damage, property damage, and advertising injury facing your business.
Workers’ comp insurance
While workers’ comp insurance is mandatory in Illinois, this shouldn’t be the only motivation to purchase this coverage. Workers’ comp insurance protects your most valuable assets — the employees. This coverage pays for the medical costs, partial loss of wages, and funeral expenses following your employees’ work-related injuries and other illnesses.
Commercial property insurance
What would a business be without assets — your building, inventory, furniture, computer equipment, and other assets support almost all your business operations. In light of this, you need insurance that protects your assets against perils like fire, vandalism, theft, and natural calamities.
Commercial auto insurance
Again, this is a mandatory requirement in Illinois, but there are plenty of reasons to purchase this coverage beyond compliance. It protects your business against liability claims for accidents your driver is deemed liable. Besides, it covers damages to your car and injuries to your driver.
Buy commercial insurance today!
Now that you are aware of commercial insurance add-ons to consider, it’s time to purchase coverage from August Vincent Insurance Agency. Contact us or visit our Huntley, IL today.
