Business owners should be well-informed about commercial insurance. This isn’t always the case, especially when you’ve just started out or are about to start your entrepreneur venture. Zapp Insurance Agency of the greater Ballston Spa, NY area can help you to understand more of these concepts.
Consider the Risks Involved
When you get business insurance, you’ll want to know that your policy covers any possible situations that could arise no matter how likely they are to happen. Of course, you should put the primary focus on having insurance for those more risky scenarios. Since each business is different, the requirements and terms will vary. For example, make it known to the agent that you use vehicles for transport, distribution, and/or other activities.
Requirements for NY State
Each state has different requirements for commercial insurance. For NY State, that means at the bare minimum you should have workers’ compensation and disability benefits if you have employees. General liability also is necessary for those instances when someone is injured on your business property whether they are a contractor doing work on the premises, a client, or there for some other legitimate reason. Find out exactly what the state deems to be necessary for coverage before signing up for commercial insurance.
Pay Attention to the Details of Your Policy
Insurance policies are written in fine detail for a reason and commercial insurance is no exception. Those terms are in place to let you know what is and isn’t covered by your insurance. If you aren’t clear on what certain parts of your policy mean it’s a good idea to discuss this with a professional.
The Insurance Company Makes a Difference
Not all insurance companies are alike. Look into the reputation of an agency you’re thinking about going through before you reach out. There are reviews and testimonials for any business. It may be that an agency with an excellent reputation isn’t right for you.
For those big and little questions and concerns about commercial insurance, it’s good to have Zapp Insurance Agency of Ballston Spa, NY on your side. Give us a call or send us a message online to start the process.