What is Commercial Insurance?

Commercial insurance is necessary for all business owners to consider when they decide to operate a business. Whether they offer professional services or manufactured goods, there is a specific need to have insurance. It is important for the Ballston Spa, NY agents at Zapp Insurance Agency to present business owners with the proper amount of insurance for their company’s needs.

Requirements of New York State

In New York, you must have workers’ compensation and disability insurance if you have employees. You must also have commercial auto insurance if your business involves driving a vehicle. Your landlord, bank, or business investors may also require you to carry a certain amount of liability to protect yourself and their investment.

Types of Commercial Insurance Coverage

Property Insurance covers you in the event that your property is damaged by fire, theft, and other unexpected perils.

  • All-Risk Insurance – gives you coverage for everything, except what is listed in your insurance policy.
  • Named Peril Coverage – covers items that are destroyed by specifically named perils. For example, if your property is destroyed by fire and fire is named as a covered peril, then you would be covered.

Auto Insurance is for those employers who are delivery personnel. If a driver has an accident, commercial auto insurance could cover any injuries and damages.

When legal issues arise as a result of an accident, liability insurance could cover the medical costs and other expenses. If an employee has an accident while on the job, workers’ compensation could cover their lost wages and medical bills during their time out of work. Disability insurance is used if an employee becomes disabled because of a workplace injury.

In Ballston Spa, NY, the independent insurance agents at Zapp Insurance Agency can offer you a variety of options when it comes to commercial insurance. They can also help you with personal insurance needs and answer any questions you might have. Contact our office today!