If you are a business owner living in or around Phoenix, AZ, there are certain policies that are required based on Arizona State Requirements. However, at Insurancewide Company LLC, we can offer you additional coverage options that will protect your assets as well.
In the state of Arizona, any business that has more than one employee is required to carry worker's compensation insurance. This is a liability type of coverage that protects employees who are hurt on the job. It covers their medical expenses and gives them a portion of their pay while they are out recovering, if applicable. In return, the employee is not able to sue your business and your assets are protected.
If your Arizona business uses a vehicle for any services such as delivery, you need to carry commercial insurance service. This policy is a full coverage option that protects you and your employees in the event of an accident or theft.
One of the most common commercial insurance policy options is general liability. This policy protects you in the event of a lawsuit where either an employee, customer, or public patron is hurt on your property. Their personal property could be damaged on your property and you found liable.
Another option is property protection. The products, equipment, furniture, and other items within your business are covered in the event of a theft or accidental fire. Without this type of coverage, you could be forced to cover these costs on your own, costing you assets.
There are additional commercial insurance options available that may be more specific to your industry. Even when you carry the state required policies, that is not enough to protect the investment you have in your business and the assets that are associated. When you get additional commercial insurance coverage, you can protect yourself and your employees. Give our agents at Insurancewide Company LLC a call today to start building your commercial insurance policy.
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