The Importance of Commercial Insurance for Small Businesses

Why is it so important for a small business to have commercial insurance? There are a few reasons you should consider getting this type of insurance if you operate a small business. An agent from Marenco Insurance of the New Rochelle, NY area can help you make decisions when it comes to protecting your company.

Protect Your Financial Assets

Since many small business owners tend to have less money than larger companies, the financial loss hits harder. This can make the difference between keeping your company alive and having to shut it down. With commercial insurance, you regularly pay to get the coverage that kicks in when certain events occur.

General liability insurance is the basic policy you need so that if any third party sues for damages or injuries, you won’t take as much of a blow since you’ll have at least some of the amount from your insurance. Property insurance is in place to help you replace or repair items and property your business uses, such as technology and inventory.

Employee Coverage

When an employee is injured while on work property or at a job site, workers’ compensation can help them get what they need for medical care. Small business health insurance is good for all of the company’s employees to cover health care and provide medical benefits.

Business Owner’s Policy

You might consider getting a Business Owner’s Policy (BOP) that provides you with a package for property and liability insurance, along with some other common types of coverage. If you don’t need a more customized approach, this is a solid insurance policy that will help you cover many bases.

Reach out to Marenco Insurance with your questions about commercial insurance. Serving the greater New Rochelle, NY area, we’re pleased to work with new clients all the time to determine what fits your needs.

How commercial insurance can help your new Rochelle business

Owning a business is a dream that many people have. When you own your own business, you will have the ultimate control over your success. If you have a good business idea, it could prove to be a very rewarding adventure for you. When you are looking to build a business, it is important that you are properly protected. For a New Rochelle, NY business owner, having commercial insurance at all times could prove to be very beneficial. 

Protects Assets

When you are the owner of a small business, you likely will need to invest a lot of personal and business capital to acquire certain assets. Whether this is inventory, equipment, or even real estate, you will need to ensure you have insurance backing your assets up. Those that have a full commercial insurance policy will help to protect these assets in the event they are damaged or you experience some other types of losses. In some situations, this insurance could even help to ensure your business stays solvent.

Liability Protection

A small business owner also needs to be conscious of their liability risks. Whenever you sell a product or service to a customer, you are taking on some liability risk. When you purchase a commercial insurance policy, you are going to receive protection up to the level of your policy for this risk. This could prove to be extremely beneficial in situations in which you are going to be liable.

If you are looking to protect your New Rochelle, NY business, you should contact Marenco Insurance. The professionals at Marenco Insurance know all about how commercial insurance can help a business. They can then help your business to get into a great policy that provides the necessary protection.