Chandler Business Insurance

Your Complete Guide to Chandler, AZ Business Insurance

(Find the best insurance products to cover your small business.)

In Chandler Arizona, small businesses are crucial to the local economy. They play an important role in day-to-day life as they provide essential goods and services to the community. During tough times, business insurance helps these companies stay afloat.

 A comprehensive business insurance policy is a well-designed collection of insurance coverage that provides funds to a small business that helps them replace lost or stolen property, repair their building after a storm, or work through the difficulties associated with having an accident at the business. An independent insurance agent can help Chandler businesses identify risks and find the right policies to protect them.

Contact an insurance agent in Chandler today to get started.

Why Do Businesses in Chandler, Arizona Need Liability Insurance?

 Business liability insurance is a crucial component of a commercial insurance policy package. It can cover court costs Financial damages in legal fees if your business is sued for a covered event. These costs can be prohibitive, even if the court rules in favor of the business.

You'll need the right kind of liability insurance to cover certain risks. You have many choices:

  • Premises liability insurance: This insurance covers third party injury, property damage, an illness that occurs due to an accident that happens on your property.
  • Product liability insurance: This policy covers illness, property damage, and third-party injuries caused by defective products produced, sold, or promoted by your business.
  • Employment practices liability insurance: This policy provides coverage for lawsuits if your business is accused of discrimination, harassment, breach of contract, wrongful termination,  or other illegal employment practices.
  • Cyber liability insurance: This is essential coverage provides financial compensation to your customers if they suffered damages due to a security breach with your computer system.
  • Pollution liability insurance: If your business is responsible for an accident that results in pollution of the air, water, or ground, you'll need this coverage to help pay cleanup costs and damages.
  • Commercial vehicle liability insurance: If your business owns or operates vehicles, commercial vehicle liability insurance helps cover the increased liability risks if you or your employees are in an accident resulting in damage or third-party injuries.

You can learn more about your commercial liability coverage choices by talking with an independent insurance agent in Chandler.

What Insurance Products Cover Your Chandler Business Property?

Businesses in Chandler, AZ may experience property loss or damage due to storms or monsoons. The risk of freezing temperatures, wildfire, and property crime is relatively low in Chandler compared to the rest of the country.

The city of Chandler identifies storms and monsoons as hazards that residents and businesses should prepare for carefully. They know that summer storms can bring heavy rain, severe thunderstorms, hail, flash flooding, strong winds, lightning, and dust.

Each of these risks, some of which are covered by commercial property insurance, can cause massive damage to a business. For this reason, it's crucial to choose your coverages with help from an independent insurance agent.

You may need to add specialized property insurance policies, as well. 

  • Inland marine insurance: This insurance provides coverage for business property in transit or in storage off-site. 
  • Boiler & machinery insurance: This policy pays for repairs or replacement of a broken furnace or machinery. It may also cover losses associated with malfunction of machinery. 
  • Bailee's insurance: This coverage protects property owned by your customers while it's in the care of your business. 

Commercial property insurance doesn't typically cover flood damage, even if flooding is the result of a hurricane. commercial flood insurance is a smart addition to a Chandler businesses insurance package.

Your Chandler Independent Insurance agent can help you cover all the bases and protect your business assets from common perils.

Why Is Business Interruption Insurance a Good Idea in Chandler, AZ?

 A fire or severe storm can cause damage that extends beyond your property. Severe damage may require you to close your business temporarily while you make necessary repairs or rebuild.

  • In 2013, lightning caused a wildfire that resulted in hundreds of thousands of dollars in damage. 
  • In 2014, hurricane Norbert combined with a monsoon storm to ravage multiple businesses.

Closing your business for even a few days can be financially stressful. Business interruption insurance offers a solution to this problem by providing continuous income until your business can get back to normal.

If you have business Interruption Insurance you are more likely to be able to pay your regular monthly expenses and keep your employees on the payroll. Your agent can talk with you about the specifics of implementing this coverage.

Do Businesses in Chandler Need Workers’ Compensation Insurance?

Business owners in Chandler are required to provide a healthy safe workplace for employees. Even so, accidents happen and sometimes workers are injured on the job.

Arizona businesses must cover their employees' financial losses in the event of a work-related injury or illness. Workers' compensation insurance helps meet this requirement. With Arizona's no-fault system, an injured employee can get benefits under workers' compensation regardless of whether they are at fault for the accident or not. They may also receive short-term income replacement if they meet the requirements.

Workers' compensation insurance rates are based on the likelihood that an employee will be injured while working. For example, it would cost more to insure a welder than a fast-food worker.

Your agent can help you understand how much you'll spend for workers' compensation insurance that complies with Arizona's laws. They can also help you find an insurance company that specializes in your type of business.

What about Insurance Products for Employee Benefits Packages?

Health care coverage represents a major expense for small businesses. However, having a solid healthcare plan as part of your benefits package can help you retain and recruit some of the best employees in Chandler.

 You have a lot of choices when it comes to life insurance and health insurance for your employees. A local insurance agent can cover the pros and cons of each choice with you so you can make the best decision for your business and your employees.

Why Work with an Independent Insurance Agent in Chandler, AZ?

Every insurance company has its own method of determining premiums. Your Independent Insurance agent can help you understand how to get the best possible rates and the most coverage for your business. They can help you design a business insurance plan made to meet your needs.

Find an independent insurance agent in Chandler today to find out how easy it can be to build your ideal business insurance plan.

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https://www.census.gov/quickfacts

https://www.fema.gov/disasters

http://www.city-data.com

https://www.chandleraz.gov/chandler-a-z/thunderstorms-haboobs-and-lightning

https://www.azica.gov/sites/default/files/migrated_pdf/Claims_FAQs_WorkersCompensation.pdf