A small business owner wears many hats, especially as your business starts to grow. It can be hard to make sure that all of your administrative paperwork is handled, especially when it keeps piling up into a monstrous pile. One part of the admin paperwork you do want to address as quickly as possible is the insurance your business needs in order to protect its financial interests.
You have a lot of ways that you open yourself up for liability as a business, so it’s important to identify those risks and understand the type of insurance you need to mitigate them. One aspect of business that most people think of when it comes to insurance is worker’s compensation insurance. Most states require this insurance in place when you have a business that has employees, and the penalties for failing to hold this insurance while having employees is enough to make most businesses get right on that.
Workers compensation insurance works by covering the lost wages, medical bills, and other associated expenses for a worker who gets injured on in your workplace. If you had to pay all of that out of pocket, it’s likely that you would end up paying a significant fee. Instead of taking the hit to your cash flow, the insurance covers the claim.
Another liability area for a business is in your products. Do you know what happens if someone gets hurt or dies using your products, even if they weren’t using them properly? The inevitable lawsuit. Product liability insurance handles claims of this nature, and general commercial liability covers it to a point as well.
Talk to us, a trusted Cornelius, NC insurance company, to find out what commercial insurance options keep your business going strong. We have a free online quote system to deliver commercial insurance information right to you.
As a resident of North Carolina, your homeowners insurance options are quite wide because you have the option of selecting any amount of coverage, and virtually any type of coverage, that you want and need. Every home is different, so the options that you want might be different from your neighbor’s choices. However, most homeowners in the state generally select options like these.
Insurance for the House: The home should be protected from all types of loss, and this is the insurance type that does that. You will be able to choose a policy max based upon how much you feel you would need to rebuild if disaster struck and you lost everything.
Other Building Coverage: If you have other structures on your property, those should also be covered by insurance. Some homeowners policies automatically include this coverage along with the house insurance, but always check with your agent as a policy addition may be needed to cover extra buildings. This would apply to greenhouses, tool sheds, and any other freestanding buildings on the property.
Contents Coverage: The contents of your home are significantly valuable to you and your family, whether the monetary value is high or not. If you want to be sure to have enough money to replace these home contents in a disaster, be sure to get this type of coverage. You can choose the amount of coverage you’re most comfortable with, but make sure that you estimate the current replacement cost of everything in the home to get a good figure for the policy.
Liability Insurance: Every homeowner should protect themselves from legal actions that could arise due to injuries that may happen on their property. If your friend, or in fact any property visitor, were to get hurt while anywhere on your property you could be held financially responsible for all their damages. This is one of the most important homeowners insurance options since judgments against you for injury could be so financially devastating, and this coverage prevents you from suffering those losses.
Don’t get caught without enough homeowners coverage. You can very easily compare policies on the Internet with Cross Creek Insurance Agency in minutes. Use our free quote comparison tool to get policy info from multiple major carriers, all in one convenient spot!