The local economy in Easton, PA relies heavily on the health of local businesses. That's why commercial and business insurance is so important in this community.
Designing a comprehensive business insurance policy that meets the ongoing needs of your business isn't easy. With help from an Easton independent insurance agent, you'll be able to identify areas where you can protect your business's financial future by purchasing the right amounts and types of insurance.
Contact an insurance agent near you to get started.
Why Do Businesses in Easton, Pennsylvania Need Liability Insurance?
Business liability insurance is a crucial part of your company's financial health. Liability insurance covers your court costs, financial damages, and legal fees if you are sued for a covered event. Even if the court eventually decides in your favor, liability lawsuits are notoriously expensive.
Here are some specific policy types that a business owner should consider:
- 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.)
Your local agent can walk you through all of your options and help you decide where your money is best spent. Unlike an internet search bot, you'll get one-on-one support, even after you purchase your business insurance policy.
What Insurance Products Cover Your Easton Business Property?
Pennsylvania businesses have incurred millions of dollars in damage over the past few years due to a number of federally declared disasters. Stand-alone events like a fire can also make your business inoperable. Companies with the right types of commercial property insurance can get started rebuilding and making necessary repairs right away.
You may also want specialized insurance, depending on your business type:
- 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.
Damage from flooding can be devastating to a business. Be aware that your commercial property insurance policy does not cover flood damage, even if the flood was a direct result of a covered weather event.
Your agent can help you gain access to a good flood insurance policy from a trustworthy insurance company so you are covered, no matter what Pennsylvania weather brings.
Why Is Business Interruption Insurance a Good Idea in Easton, PA?
After a major catastrophe, you may be forced to close your business so you can make repairs or rebuild. This can be financially devastating for your company. There have been a number of federally declared disasters in Pennsylvania in recent years:
- 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 to rebuild can have long-term negative financial effects. Business interruption insurance helps you pay your ongoing monthly bills and may even help you keep employees on your payroll while you prepare to reopen.
Your Easton agent can help you decide if this type of optional coverage is the right move for your business.
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Do Businesses in Easton Need Worker's Compensation Insurance?
Pennsylvania law mandates that all businesses with one or more employees must carry worker's compensation insurance coverage. You have a responsibility to provide a safe working environment for your employees, but accidents can still happen.
Your business is legally responsible for covering your employees' financial losses after an occupational illness or workplace injury. With worker's compensation insurance, your employees are covered.
Your worker's compensation rates are based on your business type and the kind of work your employees perform. Your agent can help match you with a company that specializes in providing worker's compensation in your niche, so you can get the lowest possible rates without sacrificing coverage.
What about Insurance Products for Employee Benefits Packages?
Subsidizing healthcare and life insurance coverage for your employees can be expensive. While it may be tempting not to provide benefits for your employees, it's important to understand that offering a robust insurance package for your employees is a great way to attract and retain the best workers.
You have a lot of options when it comes to life insurance and health insurance. Your agent can help you find a company that works with businesses like yours so you can offer a great benefits package while staying within your company's budget.
Why Work with an Independent Insurance Agent in Easton, PA?
It takes just a few minutes to plug your business information into an online insurance rate search engine and get a generic quote for business insurance. Unfortunately, you may end up being underinsured or paying too much for the small amount of insurance offered.
When you work with an Easton independent insurance agent, you'll have access to a local expert that you can lean on as you choose the policies that work best for your business. When it's time to make a claim, you won't have to call an 800 number and hope you can get in touch with someone who can help. You'll still have access to the same local expert to help you through the process step-by-step.
Contact an Easton independent insurance agent today to learn more about getting the most business insurance coverage for your dollar.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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