Columbus has a revitalized uptown area and shopping districts, and is very business-friendly. In addition to other benefits, Columbus-Muscogee County gives exemptions on property taxes on inventory for businesses. If you are a resident entrepreneur or business owner in this historic Georgia city, you may want to consider protecting your company with a Columbus, GA business insurance policy.
Shopping for the right business insurance policy can be a daunting task. Trusted Choice® insurance agent can help. These agents can assist you as you determine your company’s unique coverage needs. They can then use their relationships with many different insurance companies to easily find you a variety of competitively-priced policies that meet these specific needs. Find an agent in your neighborhood today for more information and start comparing Columbus commercial insurance quotes.
- Retail Trade: 476,000 employees
- Healthcare and social assistance: 426,300 employees
- Manufacturing: 397,900 employees
- Accommodation and food services: 370,600 employees
- Administrative support and waste management: 348,400 employees
- Professional, scientific and technical services: 229,500 employees
- Construction: 213,700 employees
Each of these industries faces different types of risks. A business that operates a retail store does not have same liability risks as a company that provides medical services or one that manufactures products. Insurance companies understand that and have created commercial insurance policies that can be tailored to fit your business’s unique coverage needs. These polices protect your business from unexpected expenses.
Is Columbus Business Insurance Mandatory?
Certain types of business-related insurance policies are mandatory for certain types of businesses. For example, if your business has employees, the state of Georgia will require you to carry insurance coverage for worker’s compensation and state unemployment benefits. Likewise, if your business uses company-owned cars or trucks, the state will require you to have commercial vehicle insurance. If you have taken out a business loan, your lender may require you to carry commercial insurance.
Whether or not you are required to have this coverage, the benefits of a business insurance policy cannot be understated. You have invested a lot time and money into your company. It is well-worth the cost to protect it with an insurance policy.
Muscogee County Non-Farm Business Statistics
- Manufacturer’s shipments: $2.11 billion
- Merchant wholesaler sales: $1.17 billion
- Retail sales: $2.89 billion
- Retail sales per capita: $15,482
- Accommodation and food services sales: $428 million
Some business owners are under the misconception that, by setting up their company as an LLC or a corporation, they are protecting the business from potential liability charges. However, these business structures are designed only to protect the business owner’s personal assets from liability. The business itself remains exposed. Only a Columbus business insurance policy can fully protect your business venture.
The Make-up of Muscogee County’s Small-Business Owners
- There were a total of 15,413 small businesses in Muscogee County
- Percent owned by women: 35.8%
- Percent owned by African-Americans: 37.4%
- Percent owned by Hispanics and Latino-Americans: 2.5%
Columbus offers opportunities for those who are willing to work for them. Minority-owned businesses are on the rise and more businesses are opening their doors each year. Make sure that your company does not become a liability by protecting it with a suitable business insurance policy.
What Does Columbus Business Insurance Cover?
There is no single insurance policy that is perfect for all types of business industries. Business insurance policies are therefore designed with many different coverage options. The most commonly purchased coverage options offered by commercial insurance policies include:
Liability coverage: If your company is sued for injuries at your place of business, malpractice or negligence in provision, faulty product design or any other business-related liability case, your business insurance will provide compensation for the damages as well as your court costs and legal fees.
Property coverage: If your business suffers property loss or damage due to weather, fire, vandalism, theft or any other covered event, your policy can provide compensation. Flood damage is rarely covered, so be sure that you are familiar with the coverage exclusions made by your insurance provider.
Lost income coverage: If your company faces an interruption in production or sales due to damages or problems that are caused by a covered event, your business insurance policy will provide compensation so that you can continue to pay your employees and cover your bills.
Find an Appropriate Columbus Business Insurance Policy
Because there are so many different kinds of businesses, there is no such thing as a one-size-fits-all business insurance policy. When shopping for a policy, you can benefit from the assistance of a Trusted Choice agent. A local agent can help you asses your business’s unique risks and coverage requirements and can ensure that your policy provides all the coverage you need.
Trusted Choice agents can be found in more than 27,000 member agency locations nationwide, and several can be found right here in Columbus. Contact a local agent today and see how much time and money an independent agent can save you. You can be comparing Columbus commercial insurance quotes in no time.