Redden Insurance Agency is a valuable resource for business owners in the greater Bradley WV area. Our team has the knowledge and understanding necessary to help local business owners determine the right commercial policies for their companies. If you are a business owner in our area, please feel free to call upon us for assistance with all of your insurance needs. We are here to help!
Ways that Comprehensive Commercial Insurance Can Protect Your Business
We can all agree that commercial insurance is absolutely essential when owning a business. However, it’s also important to realize that not all policies are created equally. Business owners may find that their protection needs are cyclical, or change from year to year, and they may not always make the necessary changes. Here are a few points to consider as you review your current commercial policy:
- Protect your inventory — as levels fluctuate throughout the year, be sure you have coverage at the peak of your inventory levels.
- Plant and equipment values often change as your company grows — many companies invest in specialized equipment as its business expands, be sure to account for the increase in coverage needs as new equipment is purchased.
- Commercial vehicles should also be considered in insurance coverage decisions — a commercial fleet can have its own policy, or sometimes be included in a comprehensive commercial policy. It makes sense to proactively look into the right approach to protect your vehicles.
Want to learn more about the effective comprehensive commercial insurance options that are available to business owners in the greater Bradley WV area? Call or stop by the offices of Redden Insurance Agency today for a consultation. We can help you determine if your current commercial policy meets all of your company’s insurance needs.
One of the most important decisions you’ll make as a business owner is purchasing commercial coverage. Business insurance is a necessity to protect your business from risks that threaten your financial growth. At Redden Insurance Agency, Bradley WV, we can guide you in selecting the coverage you need. Working with an experienced agent can help you avoid the following mistakes in purchasing a business insurance policy.
Compromising Coverage for Price
When it comes to insurance protection, getting quality coverage is more important than saving money. A cheap policy may save you money initially but could cost you much more over the long run. By comparing what different companies have to offer, you’ll more likely to find a commercial policy that offers the protection you need at a reasonable price.
Purchasing a “Generic” Policy
Commercial insurance isn’t one size fits all. Before selecting a policy, it’s important to discuss your business needs with an agent you trust. At Redden Insurance Agency, we’ll assess your company’s services, risks, and financial portfolio to determine what type of coverage would be best for your company. We’ll then personalize your policy to provide the specific protection you need. Customizing your coverage ensures your company is getting optimal protection without paying for unnecessary “fluff.”
Failing to Consider Income Losses
Most business owners purchase commercial property insurance to protect their building, equipment and supplies/products from disaster loss. Many, however, fail to consider the loss of income if they have to shut down for repairs after a major disaster. Business interruption coverage compensates you for lost revenue, payroll, the rental cost of your building and other operating expenses during downtime to facilitate your recovery.
To learn more about commercial insurance options and costs for your Bradley WV business, call or visit Redden Insurance Agency today.
You may know that commercial insurance is necessary in Bradley WV. How does a policy actually protect your business and personal assets, though? The agents at Redden Insurance Agency can help you gain a full understanding of how commercial insurance works.
What is commercial insurance?
In simple terms, commercial insurance is a financial safety net for your business. All companies, regardless of whether they are at-home businesses or traditional brick-and-mortar corporations, come with some type of risk. Commercial insurance protects you from significant financial loss in the instance that an at-fault incident leads to a lawsuit.
There are several types of commercial insurance from which companies may choose. These include:
- General Liability Insurance
- Commercial Auto Insurance
- Business Interruption Insurance
- Builder’s Risk Insurance
- Errors and Omissions Insurance (E & O)
- Malpractice Insurance
Workers’ compensation insurance is also considered commercial insurance. This type of indemnity plan is required by law if you have one or more employees. Commercial auto insurance is also legally required if you have one or more vehicles that you or your employees use for business purposes.
How does commercial insurance work?
Commercial insurance operates much like your standard auto or home indemnity plan. You select the type of coverage you want along with the policy limits. Your provider will pay for eligible incidents up to your plan’s limit.
Some policyholders become confused about policy limits when purchasing commercial insurance. You may have a claim that costs more than $500,000 in losses. Your insurance plan, however, will only pay half of the bill if your policy’s limit is $250,000. Limits are further broken down by incident. You may only have $50,000 worth of coverage for medical bills, for example. Your policy will only pay $50,000 for medical claims regardless of how much coverage you have overall.
Call Redden Insurance Agency for help
Commercial insurance is necessary but sometimes confusing. We can help you find the policy that best fits your business in Bradley WV. Call today to get started with a quote!
Commercial insurance coverage is vital for any business, and obtaining comprehensive coverage is often what separates truly successful companies from those that just get by. Many business owners in the greater Bradley WV area conduct a lot of insurance research when they first open their companies but don’t continue to do so as the years go by. If you have been renewing your commercial insurance policy year after year without giving it too much thought, it’s time to give Redden Insurance Agency a call. Our team is here to make sure that your company has the protection it needs.
Upgrade to a Comprehensive Commercial Insurance Policy
As your business grows, it’s important that your coverage keeps pace. Equipment needs that increase and call for more investment is just one example of how your insurance needs can increase. When your plant and equipment is worth more, it can become more likely that your current policy levels can be met or even exceeded. Don’t find out after a catastrophic event that your commercial insurance policy needed an upgrade. Talk to a local agent today and learn about the options that are available for business owners in our area.
Businesses aren’t static, they are constantly growing, contracting, and changing. And that is why it is advisable to review all commercial insurance policies on a regular basis. Make sure that your company has the coverage it needs!
Owning a business in the Bradley WV area is an experience that can be challenging but also rewarding. In order to protect all of your hard work, it’s important to have the right commercial insurance policy in place. That’s where Redden Insurance Agency comes in, we’re here to help you find the right policy for your needs.
When you conceived of your business idea, you had a product or service that you knew would be helpful or meaningful to your community members. It took a lot of effort to get to their point where your business became a reality. Protect what you’ve developed with commercial insurance. At Redden Insurance Agency in the Bradley WV area, our agents will take the time to understand your business so that they can recommend the right commercial insurance policies. Commercial insurance is not one size fits all.
Commercial insurance combines several policies so that it is tailored to meet your business’ needs. Liability coverage protects the business if someone is injured onsite, or by products or services. Property insurance is for any buildings the company owns. It also covers any computers and inventory inside of the property. Workers compensation is for any employee that is injured while working. Additional policies can address specific needs such as professional liability coverage and commercial auto insurance. Business continuity coverage can help a business financially during periods where they are unable to operate following a disaster.
In the Bradley WV area, our team at Redden Insurance Agency can discuss the options available for your business. After getting to know your business, we can present the best recommendations to protect it. We want you to be able to make smart choices for your commercial insurance policy. Building a business is hard work. You’ve put in the effort to bring new ideas to the marketplace. Let us help you protect that business. Our website has general information but when you come in, our agents will work to get you the best coverage available. Don’t wait until a disaster strikes. Come in today to get the coverage that your business needs.
Commercial insurance is best explained as insurance designed for businesses. Basically, its the opposite of personal insurance. However, like personal insurance, it is designed to protect your business from unforeseen circumstances regardless of whether or not these incidents are your fault or not. The Redden Insurance Agency if Bradley WV takes pride in offering sound advice and guidance when it comes to helping businesses decide on the best commercial insurance policies for their companies. However, one of their primary roles is helping businesses understand the many benefits of investing in commercial insurance.
The ABC’s of Commercial Insurance
Commercial insurance or business insurance protects businesses from loss. This loss can come from damage to other people’s property, personal injury to both patrons and employees, and a whole barrage of other incidents and things. This insurance can be key for businesses because it prevents business owners from having to come out of pocket to pay for all these unfortunate unforeseen incidents. This type of insurance also covers both public liability and employers’ liability. COmmercial insurance even helps with legal claims that may be filed against their business. Without this vital insurance, many businesses and business owners would be ill-equipped to handle many of the claims and cost that come with being sued or held responsible for something.
The answer to this question is obvious. Investing in commercial insurance is like investing in security for your company or business. Of course, we all hope that nothing happens and no one gets hurt but no one can predict the future. The best-laid plans often fail as well. As a result, investing ina little peace of mind int the form of commercial insurance helps business owners feel a little more comfortable about the well being of their business. These policies or designed to protect and serve and they do just that. We look forward to helping you understand and navigate your investment in commercial insurance. Give us a call.
Selecting the right commercial insurance policy begins with knowing the types of commercial insurance you need. There are many types of commercial policies, and the needs will vary based on your risk and the type of business you own. At Redden Insurance Agency in Bradley, WV, we can help you navigate commercial insurance.
If you have a physical business, you will need business property insurance. This applies to retail stores, offices, and manufacturing buildings. Commercial property insurance covers the physical structures, including the building you operate in and your signage. It also covers your property, including equipment and furniture. It covers others property as well.
Liability insurance will cover expenses related to injuries or property damage sustained by a third party. If someone is injured on your property, or their property is damaged due to neglect on your part, liability insurance will cover your financial liability.
Workers compensation insurance will cover injuries an employee gets on the job. This includes their medical bills and lost wages. You may be required to have workers compensation insurance if you have a certain number of employees.
Commercial Auto Insurance
Commercial auto insurance is needed to cover any vehicle that is used for business purposes. This includes industrial vehicles like dump trucks and the car you use to run business errands. Most personal policies do not cover accidents that occur when the vehicle is being used for business purposes.
Getting the Right Policy For Your Needs
Within these basic types of insurance are many options. Property insurance can include business interruption insurance, for example. Liability coverage can include errors and omissions, which aren’t covered under standard liability. Our agents at Redden Insurance Agency in Bradley WV will discuss the specific needs for your business and help you choose the policy that offers you the coverage you need.
The Redden Insurance Agency is here to provide the business community in the greater Bradley WV area with the insurance products that they need to protect their businesses. We advise our commercial clients to consider adding an umbrella policy to their protection portfolios when its coverage provides a benefit for their firms. If you are a business owner in the area and are concerned about the level of protection that your primary commercial policy provides, call or stop by our offices today and learn more about the many benefits of commercial umbrella insurance.
3 Important Benefits of Commercial Umbrella Insurance
- Additional coverage when you need it. An umbrella insurance policy comes into play in situations where your primary policy benefits are exhausted. If you are in an industry that has a high potential for high liability cases, such as slips and falls, it’s good to be protected. One bad event can exhaust your primary policy!
- Lessens the possibility of personal liability. When your primary policy maximum coverage levels are reached, the liability typically falls to the business owners, often on a personal level. That is why umbrella insurance is so important.
- It allows you to continue business as usual. When you have the robust insurance protection that your business needs, you are able to take setbacks in stride and continue serving your clients. Without this important protection, your business can suffer due to frivolous lawsuits and other events that are outside of your control and the control of your company.
Business owners in the greater Bradley WV area can rely on the team at Redden Insurance Agency for all their commercial insurance needs. Our team is here for you! Call our offices today and schedule a consultation with our knowledgeable and helpful local agents.
A robust commercial insurance policy can be the difference between business continuity and a catastrophe throwing your business off-line for an extended period of time. The team at Redden Insurance Agency recommends our commercial clients have a comprehensive review of the policies protecting their Bradley WV area businesses on a regular basis. Conducting a thorough review allows you to identify and correct any gaps in protection. If it has been a while since you’ve reviewed your business insurance, contact us and set up a consultation.
Is it Time for a Commercial Policy Review?
Ideally, your firm will review all relevant insurance documents and policies on an annual basis. If you have not had the opportunity to make that your practice, now is the perfect time to start! In addition to time, there are other factors that can prompt a review. If your business is changing size, either getting larger or smaller, it makes sense to review the policy limits and determine if they are still appropriate.
Increased levels in inventory, investing in equipment, improvements to your commercial structure, are all factors that can alter your insurance needs. Additionally, changes in the number of staff and workers that you have, along with the purchase or sale of commercial vehicles can all prompt a need for changes. Having up-to-date and accurate insurance coverage is vital. With the right insurance, your company will be better able to meet the many challenges that arise when a covered event occurs. Don’t wait until it’s too late to address any significant changes in your company’s commercial insurance needs.
Are you a business owner in the greater Bradley WV area? Contact the team at Redden Insurance Agency today and schedule a consultation to review your current commercial insurance coverage.