Reliable commercial insurance can ensure your business stays protected.

No two businesses are created equally. For this reason alone, business owners should not buy an off-the-rack insurance policy as it will not be tailored to their specific needs and vulnerabilities. Business insurance is an essential expense for every company. So, how much insurance and which types does your company need?

To get you started, here are some policies that your business should consider:

General Liability Insurance
Liability insurance protects businesses – and their owners – against claims that the company, its products, or one of the employees have caused injury or harm to another person or business, because of a defective product or lack of care. The more dangerous or risky the business, the more important it is to have good coverage.

Property Coverage
If you own a building, you need to protect it. Should a fire destroy the building and contents, it could severely hinder your business and future. This is where properly coverage steps in to cover repairing and rebuilding costs resulting from a fire, natural disaster, and burst pipes.

Workers’ Compensation
Even a business with one employee is required to have workers’ compensation as it protects your team in the event of an on-the-job injury. This no-fault coverage will provide financial aid to cover the employee’s medical expenses and lost wages, and if an employee is killed on the job, it will compensate the employee’s family.

Commercial Auto Insurance
Vehicle coverage for your business covers you for damage to the vehicle and also pays any expenses to other people who are injured or suffer property damage caused by your vehicle. If you or your team make deliveries, travel in a company-owned vehicle, or even own a car for work purposes, commercial auto insurance is there to protect your investment and employees.

As a business owner, it’s important to ensure that you have all of the necessary coverages in place so that you can focus on excelling your company. Get started on your commercial insurance policies by contacting North Central Insurance, serving Elk River and neighboring cities in Minnesota.