Owning and operating your own business is both challenging and rewarding at the same time. To protect your business, which is also your livelihood, you need to obtain commercial insurance.
Is It Required?
Certain types of commercial insurance are required for business owners in North Carolina. It would help if you had commercial liability auto insurance for all of your business vehicles that will cover the injuries or property damage incurred by others involved in an accident that is deemed the fault of the person driving the business-owned vehicle. If you or your employees use their personal vehicles for business purposes, you should ensure that all of those vehicles are covered under at least a commercial insurance auto liability policy.
Also, in North Carolina, if you have three or more employees, you must obtain workers’ compensation insurance. This type of policy will cover any injuries or illnesses that your employees sustain while working at their jobs.
Other Coverage Options
If you rent the space where your business is located, your landlord may require you to obtain a commercial insurance policy, especially one that covers liability issues. For instance, if a visitor to your business falls and is injured, this part of your commercial insurance policy will cover their medical bill and lost wages.
You will also want to cover the business itself in the case of a natural disaster, fire, vandalism, theft, or other horrible incidents that could affect your business income for a period of time. This type of policy will help you make repairs or rebuild the business and cover inventory that is lost.
To create a commercial insurance policy that will best benefit you and your business, you should seek an experienced commercial insurance agent’s advice and assistance. The agents at Craig Insurance Group in Raleigh, NC are ready to assist you with all of your commercial insurance needs. Call for an appointment today!!