With a population of around 16,000 and over 2,300 businesses, McComb is home to a booming economy. Some of the largest industries are professional services, restaurants and entertainment agencies, which employ 8,478 people. Whether your business employs several people, or you are a sole proprietor, it is important that you protect your business assets with a business insurance policy.
Creating a strong business insurance policy requires the help of someone who is familiar with this field. It is beneficial to work with an independent insurance agent. They’ll help you identify risks for your industry, while working with numerous insurance companies to provide you with a selection of McComb commercial insurance quotes.
What Will McComb, MS Business Insurance Do for You?
When you start shopping for commercial insurance, it’s best to start with liability coverage. This will protect you and your business from certain lawsuits. There are three kinds of liability insurance policies you can choose from:
- General liability: You will be covered for legal and medical bills associated with an incident on your premises. If someone slips and falls at your business, you’ll be covered.
- Product liability: This will protect you against claims or suits arising from your products, whether they were made or sold by your company.
- Professional liability: If your company centers on offering services rather than physical products, you will need professional liability coverage. If your advice or opinion causes injury or harm to a consumer or employee, this will protect you from lawsuits.
An independent insurance agent can help you decide on the best coverage options for you.
Business Interruption Insurance in McComb, MS
If your business is destroyed by a covered disaster, such as a fire, and you are forced to stop commercial operation while repairs are made, your business won't be generating any revenue. Protect your investment by purchasing a policy that includes business interruption insurance. This policy will help your business recover in two ways:
- For extra expenses: If you must temporarily relocate your business because of a covered disaster.
- For lost income: This includes any destroyed merchandise, except for expenses you have already paid. Lost earnings (actual losses sustained) are typically defined as revenue without ongoing expenses.
It’s a good idea to read over your policy in case an event like this occurs. You will most likely have a restoration period that will tell you how long your policy will pay for lost income. An independent insurance agent will help you understand, so you’re prepared.
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Property Insurance for Small Businesses in McComb, MS
Your property insurance typically covers:
- Your building or leased space: This will provide coverage for your building or leased space for which you are required to provide insurance coverage.
- Contents of your building: This covers inventory, equipment, and other people’s property in your building that has been damaged.
Property insurance is there to protect you when disaster strikes. It will cover you against the loss of inventory, computers, furnishings, signage, and flooring. You also need to be protected against burglary, because in McComb you have a 1 in 69 chance of being the victim of a property crime. Your business has specific property coverage needs that an independent agent can help you explore.
Employee Coverages for McComb, MS Businesses
If you employee more than 50 full-time employees, you are required to provide them with subsidized health insurance coverage. Of course, offering employee benefits like health insurance and life insurance can help you recruit talented candidates.
Additionally, Mississippi requires companies to purchase workers’ compensation insurance to cover employees’ medical costs and lost wages if a workplace injury occurs. This coverage will also protect you from any lawsuits related to a work-related injury.
How to Find Business Insurance in McComb, MS
Trying to figure out exactly what business insurance coverage you need can be confusing. An independent insurance agent will walk you through your options and help you find the policy that is right for your unique challenges as a small business. Chat with an agent today to learn more about your options.