Raton Business Insurance
Written by
Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.
Reviewed by
Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
It can be a juggling act to do all the daily tasks for your company. One of those items is protecting your livelihood and operations. Raton, New Mexico, business insurance has coverage that meets your specific needs.
A Raton, NM, independent insurance agent works with highly rated markets to find you the best policies in town. They compare coverages and prices, making it easier than ever. Connect with a local expert and start saving today.
What Is Business Insurance?
Your Raton, NM, business insurance is vital to running a smooth operation. There are several policies you'll need to have proper protection and avoid financial ruin. Check out standard policy options for your business.
- General liability: Pays for a bodily injury and property damage loss of others.
- Business property: Pays for the replacement or repair of company-owned property and belongings.
- Business interruption: Pays for regular business expenses while your company has to shut down due to a covered loss.
- Business inventory: Pays for the replacement or repair of company-owned inventory.
- Business equipment breakdown: Pays for replacing or repairing company-owned equipment that breaks down due to a covered loss.
- Commercial umbrella liability: Pays for a bodily injury and property damage loss of others after it exhausts your underlying limits.
- Workers' compensation: Pays for medical expenses and lost wages of an injured or ill employee resulting from job duties.
What Does Business Insurance Cover in Raton, New Mexico?
New Mexico has roughly 154,804 small businesses in existence currently. Each company comes with a unique set of coverage needs. Fortunately, your policies are tailored to you, and here's what basic coverages look like in Raton.
- Coverage for bodily injury or property damage claim
- Coverage for your business inventory such as products
- Coverage for business equipment that breaks down due to a covered loss
- Coverage for employees who are injured or ill on the job
- Coverage for commercial vehicles used to operate the business
- Coverage for disgruntled employees that sue due to discrimination or harassment
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Is Specific Insurance Needed for Employees in Raton, New Mexico?
If you're operating with employees, then you'll need certain employee-related coverages. These policies can protect your staff members and your business. Check out some policy options in Raton below.
Workers' compensation insurance: This policy will pay for an injured or ill employee's lost wages and medical expenses.
Employee benefits coverage: If you're trying to attract new employees and keep old ones, you'll need to compete. To add value, consider employee benefits coverage. This will pay for life insurance and more for your team.
What Liability Insurance Do You Need in Raton, New Mexico?
There are several policy options when it comes to your Raton, NM, business insurance. Liability coverage may be the single most crucial limit you'll select. It's the foundational policy, and there are numerous kinds. Check out what's available for your operation below.
Cyber liability insurance: This policy is usually overlooked but is one of the most necessary coverages you can own. It will pay for a cyberattack when your business gets hacked. When sensitive data gets stolen, your company will be responsible.
Business interruption insurance: Business interruption insurance will pay for regular business expenses when a catastrophe forces closure. If you want to stay in operation, get this insurance. Coverage usually lasts 12 to 24 months.
General liability insurance: General liability insurance will pay for a loss arising from property damage, bodily injury, or slander. Your limits need to be accurate because it's used often. To have enough coverage, review your policy regularly.
How Commercial Property Coverage Works in Raton, New Mexico
Were you aware that most commercial property policies only cover 80% of a loss? This puts your business on the hook for the remaining 20% of a claim. It's essential to know what disasters can impact your property the most and get an acceptable policy.
Check out common property losses in New Mexico
- Burglary and other property crimes
- Flooding and water damage
- Wildfires and residential fires
- Severe storms and lightning
- Wind damage
Why you need flood insurance
Your property won't be protected from a flood without proper insurance. In fact, your commercial policies exclude coverage for floods altogether. Fortunately, you can obtain a separate flood insurance policy through a FEMA-approved carrier and trusted adviser.
Why You Need an Independent Agent in Raton, New Mexico
Commercial insurance is a necessity when you own a business in Raton, New Mexico. With several policy options out there, you'll be hard-pressed to know everything your company may need for coverage. Instead of trying to get a policy on your own, consider using a licensed adviser.
A Raton, NM, independent insurance agent has access to a network of markets, saving you time and money. They'll even do the shopping for you at no additional cost. Get connected with a local expert for tailored quotes in minutes.
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