Risk comes with owning a business, there is no way around it. Half the battle is anticipating what the risks are and making sure you mitigate as much as possible. Knowing how to determine which types of commercial insurance are right for your business is why you have an independent insurance agent. In Closter, NJ, Retcho Agency is here to help with all your commercial insurance needs. Our team will work with you to customize your coverage.
Types of commercial insurance
Commercial liability insurance
If you are only going to carry one type of commercial insurance, commercial liability insurance is probably the one you should choose. Being sued is something that all businesses are in danger of. Whether it is a customer who is injured while visiting your location or by a product you create, a vendor with whom you are disputing a charge or an employee who is not happy, becoming part of legal action is easy for a business. It is also expensive and can put you out of business if you are not adequately covered.
Commercial Property Insurance
You can have a successful business if you don’t have the things you need to operate your business. When you are hit by a covered peril, you may lose all your tools, your inventory, your machinery, your office equipment, and all the things you need to do business. No business, no income. If you own the building that houses your business, commercial property insurance will also pay to repair the building. This is important coverage for your business.
In New Jersey, if you have employees, they need to be covered by workers’ compensation insurance. If you don’t have workers compensation insurance, you need to be approved to self-insure. No matter what, you have to protect your employees.
Contact Retcho Agency in Closter, NJ when you need to get the commercial insurance your business needs.