Commercial Insurance – Retail / Wholesale Business Owner

Business Owner Insurance

As a business owner, facing tough challenges is a daily occurrence. It is crucial that you have the right business insurance policy in place to adequately protect your growing business. The brokers at Whitley Newman Insurance understand just how important it is to develop a continued financial security plan and they are willing to work with you to find the ideal mix of insurance products to fit the needs of your business.

Even the most successful business owners lack the ability to predict the future. The only thing you can do is prepare for it as best you can. Preparing your business for protection against unforeseen challenges requires investing in a good commercial insurance policy. You can rest assured knowing that your establishment is covered in the event of significant loss.

Building a successful business is nothing short of hard work. In today’s business world there are risks around every corner that you do not want to face without proper coverage. A fire could break out on your property. One of your products may cause injury to a customer. An employee that you had to let go could file charges for wrongful termination. Your business vehicle could be involved in an accident while out on the job. Without proper business insurance, any one of these events could be devastating to your operations. Our experienced insurance brokers will provide you with Comprehensive insurance coverage to ensure your business is protected at a competitive cost.

Types of Coverage

Because business insurance plays such a major role in the protection of your establishment, choosing the best coverage options is essential. Your broker will take the time to help you determine the type of coverage you need for your business by explaining all the options in detail. Some of those options include:

  • General Liability – This coverage will protect you from any legal issues that arise due to injuries, accidents or negligence claims. The payments that result from property damage, bodily injury, slander, legal defense, medical expenses and settlements will be covered.
  • Product Liability – If you sell or manufacture products, you may be responsible for the people that use those products. This coverage will protect your business against financial loss that results from defective products that cause injury. Your broker will talk to you about the products that you manufacture or sell to determine your exact level of risk to make sure you get ample coverage.
  • Professional Liability – Also commonly referred to as errors and omissions coverage, this will protect a business that provides services against negligence, error and malpractice claims. Depending on the type of business you own, this coverage may be mandatory.
  • Commercial Property – This type of coverage is essential for most businesses in order to ensure protection against damage and loss due to vandalism, theft, severe weather, fire, etc. You can have peace of mind that you are covered in the event of business interruption, income loss, building damage and more. Your Toole Peet Insurance broker will be happy to explain in detail the various types of property coverage that may be included in your commercial insurance policy.
  • Home-Based Business – It is important to note that just because you operate your business out of your home, you should still consider protecting yourself with proper business insurance. Your homeowner’s insurance policy will likely not cover any losses that your home-based business encounters. Talk to your broker to determine the elements of coverage that you need to include in your policy for your home operations.