Frequently Asked Questions Small Businesses Have About Commercial Insurance

If you have never owned a business before, commercial insurance may be a term that you are unfamiliar with. You may have many questions about this type of insurance. At Goodman Insurance, Inc. serving the greater Shelton, CT area, we want to ensure that small businesses understand what this type of insurance is and why it is important. Here are a few frequently asked questions about it and the answers.

What is Commercial Insurance?

Commercial insurance covers a variety of the different parts of your commercial insurance. Depending on the coverage you select, commercial insurance may cover commercial property, commercial automobiles, your inventory, items in your warehouse or shop, your employees, and even key figures and staff in your business.

Do I Need Commercial Insurance?

In many states, you are not required to carry commercial insurance. However, it is strongly recommended you do, even if it is not required of you. Commercial insurance helps you recoup money for any losses you sustain in regards to the above coverage areas. As a small business, your reserves may not be very high. Having insurance ensures you do not have to come out of pocket to cover these losses minus the deductible wrote into the policy, helping your business to remain profitable.

How Do I Determine How Much Coverage I Need?

Determining how much coverage you need can be challenging. It is best to let a professional ask you questions and have them assist you in determining the right coverage levels for your business. This helps ensure your business is fully covered should something unexpected happen.

If you are looking to obtain a new commercial insurance policy or have questions about your coverage level, let Goodman Insurance, Inc. help. We serve the greater Shelton, CT area. Give us a call today for any assistance.

How Does Your Choice Of Car Affect Your Insurance In Shelton?

Goodman Insurance, Inc. can help you to get a solid deal on your coverage, but even so, you may be wondering if your choice of automobile is going to be held against you by your provider. Well here’s a simple rule of thumb: The safer your ride, the lower your insurance. There are exceptions to the rule, outdated laws, cars that are way safer than they have a reputation for being, but if you’re driving a safe car, you’re going to pay less.

There are other factors, but it all starts with how safe your car is to drive. Here are a few things to consider when buying a new ride:

  • Trucks and SUVs tend to rank among the cheapest vehicles to insure, across the board. The added security of driving a larger auto tends to go a long way with insurers.
  • If your car doesn’t come with standard safety features like full airbags, anti-lock brakes, and rear-view cameras, it may be cheaper to have them installed than to pay the difference on your insurance.
  • Your insurer is going on "worst-case scenario." No matter how safe your Ferrari may be to drive, it goes a lot faster than a Honda Civic, so it’s going to be pricier to cover.

Other factors your insurer will consider include a car’s likelihood to be stolen, whether or not it’s a hybrid (many insurers covering Shelton, CT offer deals for hybrid car drivers), and of course, how much it’s actually going to cost to repair and replace the vehicle.

If you have any questions about your next vehicle, call the agents at Goodman Insurance, Inc. to get a quote. Also, try our online rating tool for quotes on your auto and home insurance. Our doors are always open, visit our office in Shelton, CT today.