First, think about your business and what coverage you may need. See the commercial insurance policy types below and the Somos team will search to find you an affordable rate from one of the many trusted brands we work with.
Commercial insurance, or business insurance, helps companies protect their intellectual and physical property, and their financial assets. This includes losses such as lawsuits, property damage, workers compensation, loss of income, cyber and privacy, and more.
Businesses with employees are required by law in most states to provide workers compensation and unemployment insurance. Disability insurance is also required in some states.
Also, consider getting an employment practices liability (EPL) policy that protects your business against allegations of discrimination, harassment, and wrongful-termination of employees.
Finally, keep auto insurance in mind if you or your employees are driving for work purposes.
A good rule of thumb when budgeting for commercial insurance is about 20 to 30 percent of your business’s gross income. These costs may vary depending on the coverage you need and the risks of certain industries.
As an independent agency, Somos Insurance is here to help. We collaborate with many insurance companies to find you the best policies to fit your company’s needs and budget.
Already have insurance? We’re happy to review your current coverage and search to find high quality policies that will save you money.