Do I need commercial insurance for my service-based business?

When people think of commercial insurance, they often tend to think about a policy that covers a store or restaurant.  The truth is that service-based businesses are the companies most in need of commercial insurance policies.  If any of the following conditions apply to your business, then it’s time to invest in a policy.

  1. You travel to you clients.  Even if you’re using a personal vehicle, your personal auto insurance coverage may not cover an accident if you are using the vehicle primarily for business.  A commercial auto policy would cover all of the vehicles that you use for your business.
  2. You have business-related equipment.  Computers, cameras, power, tools, and anything else you use for work should be insured against loss and damage.  Criminal acts and natural disasters are next to impossible to avoid, but they can completely destroy your equipment and your only way of making a living. Make sure you talk to your agent about the type and value of the equipment you have, as well as where it is typically stored.
  3. You need coverage against lawsuits.  Commercial umbrella policies are strongly recommended for service-based companies because of the high number of individual clients that they work with.  Umbrella insurance will help you to pay for a lawyer and deal with the other costs involved in a lawsuit.  These policies can also help your business to be protected from a variety of other legal issues.

If you’re thinking about investing in a commercial insurance policy, call the agents at Cross Creek Insurance.  They can help you to find a policy that meets your needs without breaking your budget.

What type of auto insurance do I have to have in NC?

If you live in Hope Hills, NC, then you know how important it is to be covered when you’re on the road.  It’s important to know exactly what you’re required to have and what kind of insurance you should strongly consider, however.  

Basic auto insurance policies in North Carolina are designed to protect the other driver in the event that you are found to be at fault in an accident.  The law is interested only in making sure that the victim of the accident is taken care of.  That means that if you are found to be at fault in an auto accident, your basic insurance policy would not pay you anything for your own damage and medical expenses.

In fact, even with the minimal required insurance, you would still be required to pay for some of the cost out of your pocket.  Your deductible would be paid to the insurance company, who would then pay for damages up to the limit of your coverage.  With required coverage limits so low in North Carolina, it is possible that you would need to pay even more money in the event of a serious accident.  In many cases, this can bankrupt a family as they contend with their own expensive medical costs and repairs.

To make sure that you are covered, you may want to consider a collision policy.  This type of coverage will cover your own damages and medical costs.  

If you’er thinking of getting a new auto insurance policy, or if you just want to save some money on your existing policy, call the agents at Cross Creek Insurance.  They have years of experience helping Hope Hills, NC residents.