According to the US census, there are more than 870,000 businesses in North Carolina, and nearly 13,000 of them can be found in the city of Asheville. Mission Heath System and Ingles Markets are Asheville’s biggest employers, but companies in the accommodation and food service industry are most abundant here. Whatever your business type, you will want to protect it with commercial insurance.
A local independent agent can help you build a comprehensive, customized business insurance plan that will cover against all of your company’s various exposures. Contact an insurance agent in Asheville to learn more.
Liability insurance is a vital part of every commercial insurance policy. It can cover expenses related to liability lawsuits, including court costs, legal fees, lost wages, and damages. All business insurance policies include commercial general liability insurance (CGL), which has two main coverage components:
Most businesses need to purchase additional liability insurance products in order to be fully covered against all their liability exposures. There are several policies available to choose from. Examples of some of the commercial liability policies you may want to consider include:
Let an independent agent explain more about these and other liability insurance products so you can choose the policies that are right for your Asheville business.
Your business insurance policy includes commercial property coverage. This is designed to reimburse your business for loss or damage to company-owned property such as merchandise, inventory, computers, furniture, outdoor signs, and more.
A major disaster, like an accidental fire or hurricane, can cause extensive damage to business property. Even lesser events like windstorms, hail, and freezing temperatures can cause damage. It is important to be sure that your company’s coverage levels are high enough to allow you to repair or replace damaged items without your Asheville business experiencing a large financial loss.
Some commercial property requires specialized coverage (e.g., boiler and machinery insurance, contractors equipment insurance, or inland marine insurance). Also, business insurance rarely covers flood damage, even it if it is the direct result of a covered hurricane. You may therefore also benefit from securing a commercial flood insurance policy through the National Flood Insurance Program (NFIP).
A knowledgeable insurance agent can provide guidance when you are building your commercial insurance plan so that you can be certain that you do not have any unintended coverage gaps.
Whether your business is impacted by a natural or man-made disaster, property damage isn’t the only risk you face. In some cases, a major disaster can force you to close down your business for weeks, or even months, while repairs are made. Business interruption insurance provides a continuation of income during these times.
Business interruption insurance enables you to have the income you need to pay employee salaries, loan installments, and other monthly expenses until you are able to resume normal operations. This coverage is typically limited to one year. Talk to an independent agent in Asheville to learn more.
Work-related injuries can happen, even when reasonable safety precautions have been taken. If an employee is injured while working for your company, your business is responsible for covering the associated costs. Failure to do so could result in your company being sued in a liability lawsuit.
Often referred to as “workman’s comp,” workers’ compensation insurance covers medical treatment, lost wages, disability payments, and death benefits if an employee is injured or becomes ill while doing their job. Rates for this coverage are based on the risks associated with the work your employees do. A warehouse worker would cost more to insure than a financial advisor.
The state of North Carolina mandates that employers must carry workers’ compensation insurance. There are a few exceptions. You are not required to cover sole proprietors, domestic workers, and certain agricultural workers. An independent agent can help you find an appropriate and competitively priced policy through a commercial provider.
Studies by human resources professionals have demonstrated that companies that offer decent benefits to their employees are more likely to attract and retain ideal workers. It has also been shown that employees who have access to health care take fewer sick days. All this can translate into big savings for your company in the long run.
A local independent agent can help you find suitable coverage at a highly competitive price. With so many different policy types for you to choose from, you may find it beneficial to have the guidance of a local insurance professional when you are shopping for health insurance or life insurance to include in your employee benefits package..
When it comes to business insurance, there is no such thing as a one-size-fits-all policy. Insurance companies offer a wide range of products and policy options so that business owners can fully customize their commercial coverage portfolios. A local independent agent can help you navigate through your various options so you can choose the coverage types that are suitable for your Asheville business.
Independent agents work for you, not for a specific insurance company. They can shop around to find you the best and most affordable coverage. Find an insurance agent in or near Asheville to get started.