Mooresville, NC, is the home of NASCAR. Racing teams and drivers from all over reside in this small town. With a population of 37,820 and local tourism, it's a great place to lay down roots.
When you're one of the 913,398 small business owners in the state, you'll want proper coverage. An independent insurance agent will be able to find a policy for an affordable premium. Get connected with a local adviser today.
Employee Coverages in Mooresville, NC
If you want your business to have the correct insurance, you need to know your options. Employees can be insured under various policies, depending on what you need. Consider the coverage choices below:
Workers' compensation insurance: If you have three or more employees in North Carolina, it's mandatory to have workers' compensation insurance. This policy will pay for lost wages and medical expenses when a worker gets injured or ill on the job. To avoid penalties or worse, get the required coverage.
Employee benefits coverage: Employee benefits will provide life insurance and other inexpensive options to your team. This will help you retain and attract the right staff members for the long term. With 1,700,000 people in North Carolina employed by small businesses, you'll want to stay ahead of the curve.
Commercial Insurance for Your Mooresville, NC, Property
Were you aware that most business policies don't supply enough coverage for a loss? Your commercial property insurance may only insure up to 80% of your building's value. You'll want to go over the following items with a licensed professional to get the right insurance for your property:
- Protective devices in place
- Year built and structural makeup
- Total square footage
- Operations that occupy the property
- Market value and replacement cost
- Prior property claims
Common property risks in Mooresville, NC, are listed below:
- Hurricanes and tropical storms
- Burglary and other property crimes
- Flooding and water damage
- Severe storms and lightning
- Wildfires and other property fires
Why you need flood insurance:
When flood damage occurs on your commercial property, you may not have coverage. Property policies exclude flood damage, which means you'll be responsible for the loss. To get proper protection, obtain a quote for flood insurance before it's too late.
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Liability Insurance Options in Mooresville, NC
North Carolina had $9,827,941,000 in commercial claims paid in 2019 alone. Most of those losses fell under liability-related claims. To have adequate protection, take a look at the following options:
Cyber liability insurance: Without this policy, your business may not be able to come back from a cyber loss. Cyberattacks happen all the time and can put you in financial ruin. When sensitive data is stolen, you'll be responsible for the damage.
Business interruption insurance: This policy will keep your business in operation when a catastrophe shuts you down. Coverage usually lasts 12 to 24 months. It can be added to your general liability policy for a fee.
General liability insurance: General liability insurance pays for a lawsuit arising out of bodily injury or property damage. Since this is the most used policy your business will own, it's important to have the right coverage. Review your limits with a professional.
Umbrella insurance: This policy pays for a more substantial loss. When your underlying liability coverage has been exhausted, umbrella insurance will apply. Coverage starts at $1,000,000 and goes up from there, depending on your assets.
Why You Need an Independent Agent in Mooresville, NC
Your business protection is critical to staying in operation. If you're trying to DIY coverage, you could be missing key items. An independent insurance agent can help.
They have access to several markets, giving you options on policy and premiums. Since they work on your behalf at zero cost to you, it's a no-brainer. Connect with a local adviser on TrustedChoice.com to start saving.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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