What Type of Commercial Insurance Should You Have?

Your dreams of owning a business in Littleton, CO are not a reality. Imagine, though, one seemingly small incident morphing into a financial catastrophe and threatening everything that you have worked to attain. Such can happen when you take your chances without commercial insurance. Every business owner, regardless of whether they work from home or in a traditional office setting, should have some sort of insurance policy that secures their entrepreneurial efforts when the unexpected takes place.

Front Range Insurance Services can help you find the best indemnity policy for your situation. Meanwhile, consider these three types of commercial insurance that the masses believe every company should possess.

General Liability Coverage

Home-based and traditional businesses should invest in general liability coverage. This form of assurance pays for damages caused by both you and your workers, which include allegations of bodily injury or property damage to third parties. General liability coverage rates largely depend on the type of business you operate. Whereas those companies viewed as low-risk typically pay lower premiums, those businesses at higher risk of filing a claim are charged more for coverage.

Property insurance

You cannot depend on anyone else to value your business in the same manner that you cherish its significance. Such truth also remains for the equipment used to propel your company forward. Property insurance pays for everything from damaged inventory to ruined computers when fire or severe weather ravages the facility of your business. Such coverage may also pay for the days that you cannot operate your company, which proves especially helpful during the rebuilding stages when you are unable to service customers in Littleton, CO.

Business Owner’s Policy (BOP)

Many small business owners seek a BOP for convenience purposes. The average plan covers everything that the average company needs to thrive comfortably. Perhaps the best thing about the BOP option is its flexibility. You can choose which features you want (i.e., business income, property insurance, liability assurance) and what products you do not need.

The agents at Front Range Insurance Services are happy to assist you in finding the commercial insurance plan that works for your company. Call today for a quote!