MONDAY, SEPTEMBER 17, 2012
Do I need Business Insurance? 
Protect Yourself And Your Family
by Jerrad Van Coots "The Burrows Agency Insurance"
Having a Business or Commercial Insurance Policy in place can protect you and your family's home and savings. One of the single most important elements for any business is to protect yourself and your business from catastrophes and litigation. Here are some common coverage parts of a business or commercial insurance policy.
1. General Liability Coverage
When we have a retail space, restaurant, or are working at a location. You are reliable for the customers or people that are visiting or walking by your workspace. If you had a wet or slippery spot on your floor and someone falls. You could be liable for the injuries that one could occur. If part of your business is to dig a hole and it was not protected properly and one was to fall into it. You could be liable for the injuries that one could occur. The general liability coverage part can provide defense and cover settlements that might arise from a lawsuit.
2. Products and Completed Operations
When providing a service or selling a product your business in essence is leaving a piece of itself with your customers. That piece is a guarantee that the food you served will not make them sick and the plumbing you did will not flood their house. In the event that one of these situation arise you could be found liable for the damages. Products and Completed Operations coverage is there to protect you or go to bat for you in the event of these type of claims.
3. Provide Protection For Employees Hurt On The Job
When we hire employees they are there to better their lives for their families and themselves. When an employee gets hurt on the job and are not able to work, its very difficult for them to provide or take care of their families. Having Workers Compensation Insurance will provide medical care and several other benefits to employees. This again is a coverage that will protect the employer from paying high medical costs and settlements that may be awarded to the employee. Most states there is a law requiring employers to carry Worker Compensation Insurance.
4. Commercial Auto Insurance
Auto accidents happen to almost everyone at some point in your life. For most they can happen quite to often. The problem is you can't predict them or drive in a specific way that will keep you from ever having one. With decent limits on an auto insurance policy you shouldn't have much concern if you were involved in an accident. Its all to often we see an individual out in their personal vehicles conducting themselves as a business. When an accident occurs with an vehicle that is clearly a business or commercial vehicle. It's all to easy for your business to be enjoined in a lawsuit jeopardizing all you have worked hard for. By having the proper protection or coverage for your auto, you can rest easier knowing that your business is covered while out and about.
The Burrows Agency Insurance has provided commercial and business insurance policies for over 30 years to the Tulsa and Claremore, OK area. Contact Us and let The Burrows Agency give you a quote on yours today.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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