Located just north of Charlotte, the town of Huntersville, NC, is home to more than 4,500 small businesses. White-collar companies like those in the financial and professional services industries are most common here, but any businesses that meets the growing needs of the community have the opportunity to thrive.
As a local business owner, you will want to be sure to protect your investment with a comprehensive business insurance plan. An independent agent can help you identify which of the many available commercial insurance products are right for your business. Contact an independent insurance agent in or near Huntersville to learn more about your commercial insurance options.
Huntersville Business Insurance Provides Liability Coverage
Business liability insurance is designed to cover expenses such as the court costs, legal defense fees, and damages that are associated with covered liability lawsuits. At a minimum, all business insurance policies include commercial general liability insurance (or CGL).
CGL has two main coverage components: premises liability insurance which covers third-party injuries, illnesses, or property damage that occur on your business property; and product liability insurance which covers third-party injuries, illnesses or property damage caused by defects in products your company produces, sells, or promotes.
For many of Huntersville’s businesses, CGL alone is not enough to cover against all potential liability risks. An independent insurance agent can recommend any other commercial liability products that may be appropriate for your particular business. Some examples of products you may want to consider include:
- Errors and omissions insurance (E&O): This covers individuals in professional positions if negligence, errors in judgement, failure to act, or other professional mistakes cause third-party damages or hardships.
- Cyber liability insurance: This covers the costs associated with an electronic data breach. If your business stores customer information on computers, this coverage may prove invaluable in the event that hackers manage to break through your firewall and access this sensitive data.
- Commercial vehicle liability insurance: This covers your business against its increased liability risks if an employee causes an accident while driving a company-owned vehicle.
- Pollution liability insurance: This covers cleanup costs and damages if your business uses or produces toxic substances, and an accident causes these substances to pollute the environment including the ground, water, or air.
Learn more about these and other commercial liability coverage options by talking to a local independent insurance agent.
Huntersville Businesses Need Property Insurance
In Huntersville, hazards such as accidental fires, property crimes, and severe weather events can all lead to the loss or damage of your company-owned property. Fortunately, all business insurance policies include commercial property coverage, which is designed to pay for the cost of repairing or replacing this property.
Sometimes, certain commercially-owned property requires specialized coverage such as boiler & machine insurance, contractor equipment insurance, or inland marine insurance. Your independent agent can help you get the appropriate coverage for all of your business assets so that you are not left with any unintentional coverage gaps.
Heavy rains can often lead to area flooding. However, flood damage is typically excluded from business insurance coverage. If your Huntersville business is at risk for flooding, your local insurance agent can help you secure a supplementary commercial flood insurance policy so that your company is suitably protected.
The Importance of Business Interruption Insurance in Huntersville, NC
A major disaster, like a hurricane or tornado, can do more than just damage business-owned property. These events sometimes force your company to remain closed for an extended time while repairs are made. This can be financially devastating for a small business which is why business interruption insurance is so important.
- Number of federally declared disasters in NC since 1953: 58
- Most common reasons for declared disasters: Hurricanes and tropical storms
Business interruption insurance is designed to provide your company with a continuation of income during times it must remain closed due to damages caused by a covered event. When you have this coverage, your business can continue to pay its normal expenses like loan payments and employee salaries until you are able to return to normal business operations.
A local independent insurance agent can explain more about this valuable coverage and help you review a selection of quotes so you can find out how much it will cost to cover your business.
Many Huntersville Employers Need Workers’ Compensation Insurance
If your employees get hurt on the job, your business is responsible for covering their medical treatments, lost wages, and other associated expenses. Workers’ compensation insurance is designed to provide this coverage. In North Carolina, all businesses with three or more employees are required to carry this insurance.
The cost of your workers’ compensation policy will be based on your company’s overall payroll and the risks associated with the jobs your employees do. The more likely your employee is to suffer a debilitating injury, the more your coverage will cost.
Your local insurance agent can help you find a competitively priced policy through a commercial provider. Alternatively, if approved, your business can opt to self-insure.
Does Your Business Insurance Plan Include Employee Benefits?
Studies by human resource professionals have demonstrated that that offering employee benefits such as paid vacation and sick time, health insurance, and life insurance can help your business attract and retain great employees.
Of course, heath insurance is not cheap. That is why comparing rates is essential when you are looking for the right policies to include in your employee benefits package. Independent agents make comparison shopping easy.
- Average amount spent on healthcare coverage by NC businesses: $1,568,586
- Ranked 41st for highest medical insurance costs in the US
- Average annual cost of health care in NC: $5,310/person or $15,023/family
There are several policy types and coverage options available for you to choose from. A local independent agent can help you review a variety of policies and quotes and can offer advice when you are deciding which is the best policy for your employees and your company.
Why Work with an Independent Insurance Agent in Huntersville?
When you work with an independent agent in Huntersville, you can rest assured that your business insurance plan is both comprehensive and competitively priced. These insurance professionals can help you identify your company’s various risks and can guide you in your search for the best policies to cover against them.
Find an insurance agent with an office in or near Huntersville to learn more. You will soon discover how easy it can be to build an all-inclusive business insurance portfolio.
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