Henderson businesses form an essential part of the community's economy. They provide much-needed goods and services and support the state of Nevada. When there's a disaster or damage-causing weather event, these businesses need access to reliable business insurance so they can get back to normal as quickly as possible.
When you choose to work with a Henderson independent insurance agent, you get one-on-one support throughout the process of designing your company's insurance coverage. Your agent understands Nevada's laws and can help you identify areas where your business could benefit from extra coverage.
Contact a Henderson independent insurance agent today to get started.
Why Do Businesses in Henderson, Nevada, Need Liability Insurance?
Henderson businesses with a solid business liability insurance policy can rest easy knowing that their financial damages, court costs, and legal fees are handled after a covered event. Liability lawsuit costs can grow quite large, causing a great deal of stress for a company's owner.
Your policy pays associated costs of the action, no matter the outcome of the lawsuit. In addition to having a solid business liability insurance policy, you may also require other types of liability insurance.
Here are some policies your agent may recommend, based on your individual needs:
- Premises liability insurance: This covers third-party injuries, illnesses, and property damage that occurs due to an accident on your business property.
- Product liability insurance: This covers third-party injuries, illnesses, and property damage that is caused by defects in products your business produces, sells, or promotes.
- Employment practices liability insurance: This covers lawsuits related to accusations of illegal employment practices such as discrimination, harassment, breach of contract, and wrongful termination.
- Cyber liability insurance: This covers financial losses and liabilities if hackers access your computer systems and steal sensitive customer data such as financial information, credit card numbers, Social Security numbers, or personal data.
- Pollution liability insurance: This covers cleanup costs and damage if your business is responsible for an accident that leads to the pollution of the ground, water, or air.
- Commercial vehicle liability insurance: This is required by law if your business owns and operates vehicles. It can cover your company’s increased liability risks if one of your drivers causes an accident that results in third-party injuries or damage.
Talk with your Henderson independent insurance agent about how you can design a liability policy to protect your financial investment in your company.
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What Insurance Products Cover Your Henderson Business Property?
In Clark County, you have the same statistical risk of being involved in a natural disaster as the national average. Fires, flooding, and heavy rains are the most frequently federally declared disasters in the area.
Your risk of being in a disaster that causes enough damage for you to require help from your insurance company is low, but it's still important to get a policy that protects your financial investment from a trustworthy company.
You may need special kinds of insurance, depending on your business type.
Inland marine insurance: This covers portable business property while it is in transit or is stored away from your place of business, such as at a worksite.
Boiler & machinery insurance: This covers the repair or replacement of a broken-down furnace or other machinery, and can also cover any business losses associated with machine malfunctions.
Bailee's insurance: This covers valuable property owned by others whenever it is in your business’s care, custody, or control, such as when you are performing repair or maintenance services on it.
It's important to know that flood damage isn't included in your business property insurance policy, even if the flood is a direct result of a covered event. You'll need a special commercial flood insurance policy to get the protection you need from damages due to flooding.
Why Is Business Interruption Insurance a Good Idea in Henderson, NV?
Rebuilding your business after a fire or weather event is expensive. The process may take longer than you expected, causing additional financial strain. Although major disasters are rare, business interruption insurance is essential for businesses that don't have access to enough capital to see them through weeks or even months of being closed for business.
This coverage provides much-needed funds after a covered event so you can keep up with your monthly bills. If you have employees that you want to retain, your policy could also help you keep them on the payroll while you rebuild and prepare to reopen.
Your Henderson independent insurance agent can help you understand exactly how business interruption insurance could help your business stay afloat during tough times.
Do Businesses in Henderson Need Workers' Compensation Insurance?
Business owners in Henderson are legally required to follow Nevada's guidelines about providing workers' compensation insurance to employees.
In Nevada, you must offer coverage if you employ one or more people. You also have to cover subcontractors, independent contractors, and their employees. If you are a sole proprietor that doesn't have employees, you may choose to purchase workers' compensation coverage for yourself.
Exceptions to Nevada's workers' compensation insurance requirements include domestic workers, agricultural labor, and employment covered by private disability and death benefit plans.
Nevada doesn't have a state-sponsored workers' compensation plan, so you'll need to talk with your agent about how to get reasonably priced coverage from a reliable commercial provider.
What about Insurance Products for Employee Benefits Packages?
Employers that offer a great benefits package that includes life insurance and health insurance can enjoy lower recruiting costs and lower turnover rates. For many businesses, training new employees is expensive and time-consuming. You may spend money on your employees' benefits packages, but you'll also enjoy the cost-saving benefits of employee retention.
Studies show that employers with a good benefits package have employees that are less likely to seek a job elsewhere. Talk with your agent about how you can make the most of this opportunity to provide life and health insurance in your company. They can help you choose the right insurer and make the most of your budget.
Why Work with an Independent Insurance Agent in Henderson, NV?
Your business deserves one-on-one help from an insurance expert. An independent insurance agent in Henderson understands the unique challenges you face as a business in Nevada. They want to help you grow and will be there for you even after you purchase your business insurance policy.
Contact a Henderson independent insurance agent today to learn more.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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