New Castle Business Insurance

Your Complete Guide to New Castle, DE, Business Insurance

When you need a trusted adviser in your corner

New Castle Delaware Business Insurance

In Delaware, there are over 82,121 small business owners. If you're one of them, you could need protection for your assets and finances. New Castle, DE, business insurance may be mandatory for specific policies and necessary for others.

An independent insurance agent is a knowledgeable resource and can help you find coverage at an affordable premium. Since they work with several carriers at once, you'll get the best options. Connect with a local expert in minutes. 

Commercial Property Insurance in New Castle, DE

Did you know that your New Castle, DE, commercial insurance may not be enough? A lot of property policies only insure your building up to 80% of the replacement cost. That could put your business at risk for the first 20% or a claim. Take a look at what insurance companies use to set your rates below.

New Castle, DE, commercial property risk factors that carriers use

  • Year built
  • Square footage
  • Materials of building
  • Insurance score
  • Claims history
  • Address of property
  • Local weather patterns

Common property risks in New Castle, DE, are listed below

  1. Hurricanes and tropical storms
  2. Heavy snow
  3. Severe storms and lightning damage
  4. Burglary and other property crimes
  5. Flooding and water damage

Here's why you need flood insurance

Your commercial property policy will not provide coverage for flood damage. For that, you'll need separate flood insurance to have protection. You can get a policy through a FEMA approved carrier. 

Employee Benefits Coverage in New Castle, DE

Ninety-four percent of employees state that health insurance is a critical offering from their employer. When you own a business, you need to add value on top of salaries to attract and retain staff. Employee benefits coverage for your New Castle business can help.

Employee benefits coverage is a package of various policies you can purchase for your employees. It can range from health insurance to life insurance and even retirement. Plans are customizable and can be set to fit within your budget.  

Workers' Compensation Insurance in New Castle, DE

In New Castle, DE, you are required by law to carry workers' compensation insurance if you have one employee or more. The one exception is if you run an agricultural business, you can be exempt. The state will have set limits you are supposed to meet to be compliant. 

Workers' compensation insurance is used when an employee becomes injured or ill as a result of work. It will help protect your finances as the employer by paying for lost wages and medical expenses. In extreme cases, it will cover disability and death. 

Liability Insurance in New Castle, DE

In 2019, Delaware had $1,575,961,000 in commercial claims paid. In New Castle, you have to protect your company from every loss that could arise if you want to stay in business. To have adequate protection, take a look at the following options.

General liability or GL insurance: GL insurance will protect your business from a loss due to bodily injury, property damage, libel or slander. It is the most used policy your operation will own and should have proper limits of protection. 

Cyber liability insurance: Cyber liability will pay for a claim resulting from a cyberattack. If you have company data stolen, you'll be liable for any damage caused. 

Business interruption insurance: Business interruption insurance will help pay for expenses when a claim shuts your operation down. This coverage can be added to your GL policy and lasts anywhere from 12 to 24 months.

Why You Need a New Castle, DE, Independent Agent

There are 187,556 people in Delaware employed by small businesses. To have the right protection for your company and staff, consider using a professional. A licensed independent insurance agent can help. 

They have access to several carrier options so that you can get the best coverage and price. An independent agent works on your behalf at no cost, doing all the shopping for you. Connect with a local expert on TrustedChoice.com and start saving today.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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