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.