770-704-5000  |  877-823-1070 ☰ ˟
770-704-5000 877-823-1070
Logo
  • Home Page
  • Our Agency
    • Our Locations
    • Contact UsImage of right arrow
      • Marietta Office
      • Canton Office
    • Employee Directory
    • File a Claim
  • Get A Quote
    • Auto Insurance Quote
    • Commercial Auto Insurance Quote
    • Homeowners Insurance Quote
    • Life Insurance Quote
    • Motorcycle Insurance Quote
    • Watercraft Insurance Quote
  • About Us
    • About
    • Testimonials
    • Work for Us!
    • Privacy Policy
  • Contact
Home > Blog > How to Make Your Commercial Insurance Industry-Specific
MONDAY, MARCH 1, 2021

How to Make Your Commercial Insurance Industry-Specific

How to Make Your Commercial Insurance Industry-Specific

a group of people sitting at a table 

No two businesses, and no two industries, are identical. Therefore, every business of any shape or size needs customized commercial insurance options. That’s why it often feels daunting to any business owner to set out on the search for coverage without knowing precisely what they need. 

Still, it is completely possible to find the perfect benefits for your business by working closely with your commercial insurance agent. All the same, it helps to know the big-picture ideas you should keep in mind when going into the process. Here are just a few of them. 

Reason #1: Recognize Your Legal Obligations  

Different forms of business insurance are required by law in many industries, and you must maintain your coverage in order to keep your operating privileges. Most professional services—contractors, doctors, lawyers, etc.—must carry very specific coverage.  

However, even the average small business must often buy coverage like workers’ compensation or commercial auto insurance. Still, regardless of your particular insurance requirements, it always helps to invest in coverage as wisely and expansively as possible.  With the help of your agent, you will be able to make the best decisions about your coverage. 

Reason #2: Understand That Different Industries Have Different Risks  

Every business is different, and as a result their insurance needs will vary significantly from operation to operation. After all, a general contractor faces significant liabilities that are different from those of a restaurant, media outlet or web design firm. Your coverage, therefore, must relate to the amount of risk that you face in your operation. Your agent can make sure your policies are tailored to your exact niche. 

Reason #3: Remember That You Must Have Specific Liability Insurance 

There are many types of liability insurance available for businesses, which is why you must key into precisely which benefits you need. When it comes to liability claims, the type of coverage you have will be a big influence on how much aid you might receive.  

At minimum, you must have general liability insurance, which will help you compensate affected third parties if you negligently (if unintentionally) cause them property damage, bodily injuries or similar harm. Still, some policies go even further, and offer more specific coverage. 

Some liability plans are tailored to businesses that offer products (restaurants, retailers, manufacturers), and will address the fact that you might, at times, cause someone harm when they use those products. Other policies, known as professional liability policies, will help businesses that give professional advice (lawyers, CPAs, physicians, etc.) in case their mistakes cause someone else harm. 

You need business insurance coverage, but blindly buying a policy that might not meet the needs of your company puts you in a risky position. Instead, consider coverage specifically tailored to your exact industry. 


Posted 10:17 PM

Tags: business insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • auto insurance(5)
  • homeowners insurance(4)
  • life insurance(3)
  • business insurance(3)
  • boat insurance(3)
  • motorcycle insurance(2)
  • home insurance(2)
  • business owners policy(2)
  • builders risk insurance(1)
  • cyber liability insurance(1)
  • professional liability insurance(1)
  • jewlery insurance(1)
  • specialty insurance(1)
  • workers compensation(1)
  • commercial general liability(1)
  • commercial auto(1)
  • renters insurance(1)
  • bop(1)
  • flood insurance(1)
  • high value home insurance(1)

View Mobile Version
Logo
social icon social icon social icon social icon social icon
Quick Links
Home Our Products Customer Service Payment Options Report a Claim
About Us Refer A Friend Our Carriers Blog Contact Us
Locations
Marietta Office 742 Roswell Street SE
Marietta, GA 30060

Canton Office 57 Reinhardt College Pkwy
Suite 300
Canton, GA 30114

© Copyright. All rights reserved.
Powered by Insurance Website Builder