How commercial insurance can save a small business

Owning a business of any size is risky, but small businesses are particularly vulnerable to a variety of different hazards. Being able to survive something going wrong can really depend a lot on whether or not you have the right commercial insurance to protect your small business. At Walker and Associates Insurance Agencies Inc in Fillmore, NY we work with our customers to customize a commercial policy that fits their business. 

How commercial insurance can save a small business

When a covered hazard hits your business location, whether you own it or rent it, you need to have the ability to do business. It doesn’t matter if you are a small factory owner or an electrician, you need what it takes to operate. This can be your tools,  machines, office equipment, raw materials, and inventory. If you own the building that is covered, even if you rent, you need what you use. You could lose your business without commercial property insurance. 

One of the biggest dangers to small businesses is being sued. Small businesses are easy targets for legal actions and about a third of all businesses are sued every year. With commercial liability insurance, you will be able to pay a judgment against your business and have the money to pay for legal representation. If you don’t have commercial liability insurance you might not have enough money to survive a lawsuit. 

When something happens to your business, that means that you won’t be able to do business for a time, you may not have enough savings to be able to survive with no income coming in. Just because your income goes away, your bills don’t stop coming in. With business interruption insurance, you will be able to meet your obligations if your hazard is covered. 

Contact Walker and Associates Insurance Agencies Inc in Fillmore, NY when you need to discuss your small business insurance. 

Personalize Your Home insurance

Home insurance isn’t just one type of insurance. It protects the structure of your home, your content, your assets and provides you with a place to stay if your home is damaged or destroyed. How much insurance you require for each of these areas is what your well-trained insurance agents help you determine. In Fillmore NY, you can count on  Walker and Associates Insurance Agencies Inc to help you to personalize your home insurance. 

What type of content coverage should I have? 

There are two types of content coverage:

  • Replacement cost
  • Actual value

Replacement cost is the amount that it would cost you today to replace anything that you have lost. If it is a 10-year-old stove, you get the money you need to buy the equivalent at today’s cost. 

With actual value, you would get the amount that a 10-year-old stove is worth today, so not enough to replace it with a new one. 

Only you can decide which type makes sense to you. 

What things raise your liability risk?

These days, everyone worries about being sued. Not only the actual suit but getting legal representation can be very expensive. When you own a home you have lots of risks, but there are certain things that increase your risk. One of them is getting a dog. Some dogs are considered such a high risk that insurance companies won’t cover them. If you are adding a new pet, check with your home insurance to make sure you have coverage. Another is getting a trampoline. Every year they cause lots of injuries. If your kids must have one, raise your liability coverage to protect your assets. 

Contact Walker and Associates Insurance Agencies Inc in Fillmore NY when you are looking for an independent insurance agency to help you protect your home.