When you have a business in Arizona, you are required by state law to have a certain amount of insurance coverage for it. Above that minimum required, there are also other insurance policy types that you might want to add to get even better coverage. If you are interested in commercial insurance, give us a call today at Insurancewide Company LLC in Phoenix, AZ to find out more.
Workers’ Compensation Coverage
This type of insurance pays for the medical bills and lost wages of people in your employ who are injured on the job. Without this coverage, you could face fines, fees and worse. You would also have to come up with all of the money to pay for the medical bills after an accident. If your Arizona business employs even one person, you are required to have this coverage. Your company may be exempt if you hire independent contractors to do the work, you have casual workers, you hire occasional workers or you have domestic workers that work inside a home.
Commercial Auto Coverage
If your company owns a car or truck, you are required to cover that vehicle with a commercial auto insurance policy. These policies must have at least the minimum amounts of coverage that are required by law. This includes one minimum amount for a single person who becomes injured in an accident. Another amount is required for two or more injured people from an accident. There is also an amount of property damage liability required to pay for damages to another person’s vehicle in an accident that you caused.
Get Your Business Covered
If your business needs commercial insurance, it’s now time for you to get it. Give us a call today at Insurancewide Company LLC in Phoenix, AZ to find out more about it.
Purchasing commercial insurance is one of the most important investments you’ll make as a business owner. We can help you meet your commercial insurance needs at Insurancewide Company, LLC.
The following are three things to know before you purchase commercial insurance in Phoenix, AZ.
What your risks are
Commercial insurance is meant to protect your company against financial risks. As such, you need to know what these risks are before you purchase a policy.
Your risks are determined mostly by what industry you work in. What types of expenses and damages is your company likely to face? You need to know this before you purchase a policy.
The types of coverage you need
There are a variety of different types of commercial insurance coverage available. Among them are general business liability coverage, errors and omissions coverage, commercial property coverage, and commercial auto coverage.
You’ll need to decide which types of coverage are necessary for your company. For this, you need to know what all the different types of commercial coverage are.
The companies offering commercial coverage in your area
Once you know what types of coverage and how much coverage you need, it’s time to determine which providers are offering coverage in your area. Then, you can get quotes on policies from various providers.
Quotes from different providers allow you to compare your options. You want to choose the commercial insurance option that is most cost-effective. You also want to choose a policy you can rely on to pull through for your company when you need to file a claim.
It would help if you did your research before purchasing a commercial insurance policy in Phoenix, AZ. We can help at Insurancewide Company, LLC. Get in touch with us online or by phone to learn more.