Rockland Business Insurance

From large corporations like EMD Serono and the Rockland Trust Company to sole proprietorships that are run out of people’s homes, every business in Rockland plays an important role in the local economy. If you own a company in this Massachusetts town, you can protect it with business insurance.

Independent insurance agents make shopping for commercial coverage easy. These agents can do a complete risk assessment of your business and can recommend the best and most affordable policies to cover against each identified exposure. Contact an insurance agent near you get started.

What Liability Insurance Products Are Available to Rockland Businesses?

If a liability lawsuit is filed against your business, the associated costs can be very expensive. This is true even if the courts ultimately rule in your favor.

Business liability insurance can protect your company by covering expenses such as court costs, legal fees, mediation costs, settlements, judgments, and other related expenses if your business is sued for a covered event.

Here are some of the many commercial liability products you may want to consider.  

• Premises liability insurance: This covers property damage and third-party injuries that occur on your business premises.
• Product liability insurance: This covers third-party injuries, illnesses, and property damage caused by products your business produces or sells.
• Liquor liability insurance: This covers third-party injuries or property damage if it is caused by someone who got intoxicated at your place of business and your company is named in a liability lawsuit.
• Cyber liability insurance: This covers your business’s obligations to affected individuals if cybercriminals hack into its computer system and access sensitive data like financial and personal details.
• Employment practices liability insurance: This covers against accusations of illegal employment practices such as discrimination, harassment, retaliation, and wrongful termination.
• Professional liability insurance: This covers individuals in professional positions against accusations of negligence, errors in judgment, and other professional mistakes that may have caused their clients to suffer financial losses, injures, or other harm.

You will want to be sure that your business insurance policy package includes the right products to cover against each of your company’s liability exposures.

What Insurance Products Cover Your Business Property?

Commercial property insurance is a standard part of every business insurance policy. It is designed to cover your company’s assets like merchandise, inventory, furniture, and computers if this property is lost or damaged because of a covered event.

Here are some of the hazards that can affect business in Rockland.

• Accidental fires
• Theft and other property crimes
• Severe weather events such as
  • Electrical storms
  • Windstorms
  • Hail
  • Heavy snows and blizzards
  • Ice storms

Fortunately, each of these risks is covered by commercial property insurance.

Depending on what your business does, how it operates, and where it is located, it may be necessary for you to purchase supplemental products such as the following.

• Flood insurance: Commercial property insurance does not cover flood damage. If your business is at risk, you can purchase an affordable policy that provides up to $500,000 in structural coverage and $500,000 in contents coverage through the National Flood Insurance Program (NFIP).
• Inland marine insurance: This covers your portable business property whenever it is being transported over land or is in a location other than your business premises, like at a job site.
• Bailee's insurance: This covers your customers’ valuable property when it is in your business’s care, custody, or control. This is an ideal product if your company performs maintenance, alteration, or repair services.
• Boiler and machinery insurance: This covers the cost of repairing or replacing your company’s essential machinery if it breaks down or malfunctions. It can also cover any revenue losses associated with the breakdown.

You will want to be certain that all of your business property is suitably covered by the right insurance products.

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How Can Business Interruption Insurance Help Companies in Rockland, MA?

A major disaster like a structure fire can do more than just damage your business property. It can also force your company to shut down for several weeks while repairs are made.

If your company must close for an extended time due to extensive damage caused by a covered event, business interruption insurance can help. This coverage enables your business to avoid large financial losses by providing a continuation of income until you are able to resume normal operations.

With business interruption insurance in place, you can continue paying regular monthly expenses like rent, bills, loan installments, and employee salaries while your business is temporarily unable to generate revenue.

What Is Workers’ Compensation Insurance and Is It Required in Rockland, MA?

Workers’ compensation insurance is designed to cover medical treatments, lost wages, and other related expenses if your employees are injured on the job or if they develop an occupational illness due to exposure to toxins at the workplace.

With very few exceptions, all employers in Rockland are required by Massachusetts law to cover their full- and part-time employees with workers’ compensation insurance.

Rates for this insurance are based primarily on the types of jobs your employees do and the likelihood that they will be seriously injured while doing them. For instance, it would cost a lot more to cover a tree trimmer than it would to cover a receptionist at an orthodontist’s office.

What about Insurance Products for Employee Benefits Packages?

If you are hoping to to recruit and retain a talented pool of employees, you can give your company a competitive edge by offering an attractive employee benefits package that includes perks like paid vacation and sick time, an employer-matched retirement plan, life insurance, and health insurance.

Choosing a good health insurance policy for your employees can be difficult. These policies come in different types (such as PPO’s, HMO’s, and managed care plans) and can include several different options (such as varying prescription plans, copays, deductibles, and networks).

That is why business owners in Rockland often find it beneficial to consult an experienced insurance professional when searching for ideal health and life insurance policies for their employee benefits packages.

Why Work with a Local Independent Insurance Agent?

Local independent agents can help you identify all the risks your company faces and can recommend the right kinds of policies to cover against each of them. Unlike captive agents, these agents are free to shop around for the best price. That way, you can be sure you are getting great coverage at a competitive rate.

Set up an obligation-free consultation with an independent insurance agent near you to learn more. You will soon discover how easy it can be to obtain and compare a variety of customized business insurance quotes.