Owning a business has many positives and a fair share of potential negatives. One of the most significant expenses for managing your risk factors is Commercial or Business Insurance in South Carolina. There are minimum state and federal laws covering employees and liabilities, and you should expect insurance requirements in your lease agreements. Navigating the numerous decisions to protect you and your employees will need the expertise of a skilled insurance agent.
What Types Of Business Insurance Policies Do I Need?
A Commercial or Small Business Insurance policy is a package of individual policies designed to offer protection and risk management. Most companies will need at least these types of protection:
You may need many more specific coverages for your particular industry or business. A thorough discussion with your agent will help you understand all of your risks in protecting your business.
What Does My Business Insurance Policy Cover?
Business insurance is not one size fits all. At Independent Insurance Associates, we have many questions about the type and size of your business. Do you need to cover employees? Do you have customers walking in and out of your place of business? Are you manufacturing or offering services in a customer’s home? All of these details are risk factors needing specific protections. Your agent should invest time in ensuring you have policies protecting and covering your needs.
How Much Will It Cost?
Commercial insurance is a necessary expense for protecting your business. To maintain your business license, you will need coverages for federal, state, and local laws to protect employees and customers. Every business is different, and so the cost of business insurance will vary. Commercial insurance is not a point-and-click purchase; you must thoughtfully construct a policy to protect your unique needs. At Independent Insurance Associates, we understand that managing your expenses is important. We also believe you risk losing everything if you don’t have adequate insurance.
How Do I Submit A Claim?
You should have a contact number to call if you need to file a claim. Independent Insurance Associates of Fort Mill, South Carolina, understands our main job is to represent our clients throughout the claim process. To help us best help you, document everything! Take photos of any damage, and obtain police reports and witness statements if you have theft or destruction of property. When it comes to employees, make certain you keep thorough personnel records and payroll and tax information. When you are in the middle of a crisis, knowing you have all of the requisite documentation on hand will help give you peace of mind.
How Can I Save Money?
Every penny counts when running a successful business. There are ways to cut your insurance costs down – but do not cut them out! Going without coverage is a surefire path to disaster. A few adjustments like bundling your policies or fine-tuning your existing policies are a good start. At a minimum, you should meet with your insurance agent once a year to update any modifications to your company. You might be surprised at the differences in your insurance expenses with even minor changes to your business.
At Independent Insurance Associates, we partner with multiple major commercial insurance companies to ensure complete, cost-effective coverage for your business. We welcome the opportunity to answer your questions and review your current commercial policy. Contact us today to discuss your business insurance in South Carolina.