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What type of insurance do you need?
Business insurance is designed to safeguard your company against financial losses brought about by potential hazards such as severe weather, property crimes, and liability lawsuits. This insurance can prove quite beneficial as is evidenced by the fact that in 2016 alone, businesses in Montana collected approximately $2 billion in insurance claims.
A local independent agent can help you build a business insurance plan that is customized to meet the specific needs of your Montana business.
Experts predict that as many as 40% of all small businesses are likely to have a property or general liability lawsuit filed against them within the next 10 years. Judgements in liability lawsuits frequently exceed $1 million, so it is imperative that your business has sufficient liability insurance coverage.
Take for example a customer slip and fall injury. Lawsuits related to these cases are among the most common, and the average claim filed by businesses in these instances is $20,000.
Here are some other things American companies have been using their business insurance to cover and the average cost per claim.
Businesses insurance is designed to pay for losses including repair costs, replacement costs, and other expenses associated with covered events so that your company doesn’t have to.
If your inventory is damaged by severe weather, if a customer files a liability lawsuit, or one of your employees is severely injured on the job, having the right business insurance coverage in place can ensure that the damages will not affect your company’s bottom line.
Here’s are some of the many things you can expect a well-built business insurance policy package to do:
Sometimes the coverage types listed above are not enough to adequately protect a business against all potential risks and exposures. Fortunately, there are many more commercial insurance products and options available to business owners so that you can acquire all the policies you need to fully safeguard your business.
Having a business insurance policy is not required by law. However, certain types of coverage that you are likely to include in your business insurance policy package by be required in some instances. For example:
To learn more about coverage that you may need to carry, you can talk with a local independent insurance agent.
Business insurance rates are calculated according to a number of factors such as the type of business you own, it’s annual revenues, the value of your business assets, the number of workers you employ, your company’s liability coverage needs, and the amount of coverage you want to buy.
Insurance coverage needs can vary significantly by industry, so it is best to work with an experienced independent agent when you are building a comprehensive business insurance policy package for your company. These agents can make sure that you are getting the right coverage for each of your company’s potential exposures while helping you avoid paying for policies your business does not need.
Also, because independent agents can work with multiple insurance providers, they can search for the best price for each type of coverage you need. Sometimes this means building a business insurance portfolio that includes policies from several different insurance companies. Don’t worry. You will still only have one point of contact with your local independent insurance agent.
Yes! There are currently 93 independent insurance agencies located throughout Montana. These agents are ready to help you find the best and most affordable coverage for your business.
These insurance agents are not captive to a particular insurance company, so they can work with several different providers to help you build a comprehensive and competitively priced business insurance portfolio. Work with an independent agent near you to ensure that your business is fully covered against all of its potential risks.
Number of businesses in the US: 27,626,360
Burglary rate per 1,000 residents in the US: 3.76
Auto theft rate per 1,000 vehicles in the US: 2.29
|City||No. businesses||Burglaries / 1,000 people||Auto thefts / 1,000 cars|
|Butte-Silver Bow||< 250||7.14||6.26|