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What type of insurance do you need?
Business insurance is designed to safeguard your company against large financial losses related to hazards like severe weather events, forced temporary closures, property crimes, and liability lawsuits.
This insurance can prove quite beneficial as is evidenced by the fact that in 2016 alone, businesses in Nevada collected more than $1.2 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 Nevada business.
When liability lawsuits are brought against companies in the US, they can often result in judgments exceeding $1 million. Even if the courts rule in your company’s favor, your business can be out several thousands of dollars due to court costs, legal defense fees, and lost work time unless it is covered by right kind of liability coverage.
Think you don’t need liability coverage for your business? Consider this: Statisticians predict that as many as 40% of small businesses are likely to have a property or general liability lawsuit brought against them in the next 10 years. Customer slip and fall injuries are among the most common lawsuits brought against businesses and the average cost per claim for these falls is $20,000.
Commercial liability insurance can protect your company by covering the expenses that may accrue if your business is sued. Of course, liability lawsuits aren’t the only risk faced by US companies. Here are some other things businesses have been using their insurance to cover:
Business insurance is designed to pay for losses, damage, and other expenses associated with covered events so that your business doesn’t have to. This can help your company remain profitable, even during times of disaster.
Here are some of the things you can expect a well-built business insurance policy package to do:
You may need to purchase additional policies to fully protect your company against all of its potential risks. There are several additional commercial products and options available to business owners. This enables you to build a policy package that offers complete coverage against all your company’s exposures.
A business insurance policy in and of itself is not required by law. However, some policies you may include in your business insurance pack could be. For example:
To learn more about coverage that your business may need to carry, you can consult a local independent insurance agent.
Business insurance rates are based on a number of factors such as the type of business you own, its average annual revenues, the number work workers you employ, your company’s liability exposures, and the amount and types of coverage you want to include in your policy package.
Costs and policies can vary significantly by business industry, so it is best to talk with an experienced insurance agent when building a comprehensive business insurance plan for your company.
In independent insurance agent may find that it is in your company’s best interest to work with more than one insurance company. For example, while one insurer may offer the best price for workers’ compensation coverage, another may have the best price for a commercial vehicle policy. Independent agents enable you to get coverage from multiple companies while still having a single point of contact through their local office.
Yes! There are currently 142 independent agencies in Nevada who are ready to help. Unlike captive agents, independent agents are not tied to a single insurance provider so they can shop around for the policies that offer the most value to your company.
These agents can save you time and money by helping you make sure that you are getting suitable, yet affordable, coverage for all of your company’s potential exposures while not paying for any of the coverage your business does not need.
Contact an independent insurance agent near you to get started.
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|
|North Las Vegas||13,070||5.37||4.86|