Chester Business Insurance

Your Complete Guide to Chester, PA Business Insurance

Independent agents help you get the lowest rates and the right insurance for your business.

Chester Pennsylvania business insurance

The right types of business insurance can keep your company on track, even when the unexpected happens. Commercial insurance policies can be complex, and there's a lot at stake when you design your business insurance coverage. 

Let an independent insurance agent in Chester help you decide which policies may benefit your business most over time. When it comes to putting together a business insurance plan, you deserve one-on-one attention so you can get the coverage you need to protect against common perils. 

Contact an insurance agent near Chester today to get started. 

Why Do Businesses in Chester, Pennsylvania Need Liability Insurance?

Business liability insurance is a crucial aspect of your business insurance policy. It covers legal fees, court costs, and financial damages if your business is sued for a covered event. Costs grow quickly when you need to defend a liability lawsuit, even if the court eventually decides in your favor. 

There may be specific risks faced by your business. Your agent will help you identify those risks and insure against them. Your commercial liability policy may include: 

  • Premises liability insurance: Covers accident-related third-party injuries, illnesses, and property damage on your business property. 
  • Product liability insurance:  Covers third-party injuries, illnesses, and property damage caused by defects in products your business produces, sells or promotes.
  • Employment practices liability insurance: Covers lawsuits resulting from accusations of illegal employment practices.
  • Cyber liability insurance: Covers financial losses and liabilities if hackers access your computer systems, exposing sensitive personal customer data.
  • Pollution liability insurance: Covers clean-up costs and damages after an accident resulting in pollution of the ground, water, or air.
  • Commercial vehicle liability insurance: Covers third-party injuries or damage caused by you or one of your employees while driving for company business. (Pennsylvania requires this coverage.) 

Business liability insurance is crucial for every business.  Don't rely on an internet search bot whose only job is to give you the cheapest rate. Your local agent can talk with you about needs that are unique to your business. Together, you can find solutions to minimize your financial risk. 

What Insurance Products Cover Your Chester Business Property?

In Chester, your business may experience property damage or loss due to fire, crime, or severe weather. These risks, covered by commercial property insurance, can sideline your company's growth unless you have a good insurance policy. 

Your commercial property insurance is a standard part of your business insurance policy. It covers your commercially owned property, including your computers, merchandise, inventory, supplies, and furniture. 

You may need to add a specialized insurance product for the best possible coverage. 

  • 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.

A special note about flooding: Your commercial property insurance policy does not cover flood damage, even if the flood is the direct result of a covered weather event. Your agent can help you explore your options for commercial flood insurance, which is highly recommended for businesses located in the Chester area. 

Why Is Business Interruption Insurance a Good Idea in Chester, PA?

After a major catastrophe, you may have to close your business while you rebuild. There have been a number of federally declared disasters in Pennsylvania's recent history. 

Recent federally declared disasters in Pennsylvania include:

  • Severe storms and flooding in 2011, 2016, and 2018
  • Severe winter storms and snowstorms in 2010, 2014, and 2016
  • Tornadoes and flooding in 2013
  • Hurricane Sandy in 2013
  • Tropical Storm Lee in 2011
  • Hurricane Irene in 2011

Closing your business for even one week can be financially devastating, especially if you have a small company. Business interruption insurance allows you to continue to pay your regular monthly bills, and even keep your employees on salary, during the closure. 

Your agent can walk you through your business interruption insurance options and help you make this important coverage part of your commercial insurance policy. 

Do Businesses in Chester Need Worker's Compensation Insurance?

Chester businesses must cover their employees with worker's compensation insurance, in addition to providing a safe working environment. Even a low-risk job carries some risk, so this insurance is important for your employees and your business. 

After a workplace injury, worker's compensation insurance pays for necessary medical care so your employee can get back to work as soon as possible. 

In Pennsylvania, all companies with one or more employees must have a worker's compensation insurance policy in place. Your rates are based on the type of work your employees perform in the course of their day. 

Your agent can help you choose an insurance company that specializes in providing workers' compensation coverage in your niche so you can get the lowest possible rates. 

Do Chester Businesses Need To Offer Employee Benefits?

While the types of benefits you offer to your employees is largely your choice, as a Chester business owner, it's important to know that having a great benefits package will help you retain and recruit top talent in your area. 

While healthcare benefits are often expensive, working with an independent agent will give you access to insurance companies that internet search bots may not include in their offerings. Even if you think it's too expensive, wait until after you talk with a Chester independent insurance agent to decide whether you can afford to offer a great benefits package to your employees. 

You have a lot of options when it comes to life insurance and health insurance for your workers. Your agent will help you make the most of your company's budget when you design your benefits package. 

Why Work with an Independent Insurance Agent in Chester, PA?

Every business has its own risks and exposures, so it's smart to seek one-on-one help from a local insurance expert. You can fully customize your commercial insurance coverage with help from your agent. 

Find a Chester independent insurance agent today to get started. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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https://www.census.gov/quickfacts

https://www.fema.gov/disasters

http://www.naic.org/prod_serv/AUT-PB-14.pdf

https://www.nfib.com/content/legal-compliance/legal/workers-compensation-laws-state-by-state-comparison-57181/

https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/alter-benefits-attract-retain.aspx

https://www.business.org/hr/benefits/top-reasons-to-offer-employee-benefits

https://www.city-data.com/city/Chester-Pennsylvania.html