Wilkes-Barre Business Insurance

Your Complete Guide to Wilkes-Barre, PA Business Insurance

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

Wilkes Barre Pennsylvania business insurance

Your Wilkes-Barre business needs a good insurance policy from a trustworthy company. Fortunately, online shopping is a quick and easy way to get information on nearly any topic. But when it's time to buy your commercial insurance policies, it's best to speak with a local expert. 

After an unexpected event, you'll need insurance you can rely on and an agent that knows you. When you work with an independent insurance agent in Wilkes-Barre, you'll have instant access to their extensive knowledge about business insurance. 

Contact an insurance agent near you to get started today. 

Why Do Businesses in Wilkes-Barre, Pennsylvania Need Liability Insurance?

Business liability insurance is a crucial part of your commercial insurance policy. It covers costs associated with defending your business against a liability lawsuit after a covered event. 

You'll need the right types of liability insurance to cover your business, since court costs and damages can add up fast. 

  • Premises liability insurance: Covers accident-related third-party injuries, illnesses, and property damage that occurs 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 damage 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 agent will walk you through all of your liability insurance options, some of which may not be listed here. They'll talk with you about any special concerns you have and recommend coverage that can help protect your financial interests in your company. 

What Insurance Products Cover Your Wilkes-Barre Business Property?

In Pennsylvania, commercial property insurance is a standard part of business insurance policies. It covers your commercially owned property, including your computers, merchandise, inventory, and supplies. 

Common risks, like fire, crime, and severe weather, are covered with commercial property insurance. There are a few types of specialized coverage that you may need, as well.  

  • 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 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.

Flood damage is not covered by your commercial property insurance policy, even if the flood is the result of a covered event. Flooding can happen anywhere, so this is an important part of a good business property insurance policy. 

Your agent can help you make sure you have the policies you need and that your coverage limits are high enough to allow you to rebuild after a covered event. 

Why Is Business Interruption Insurance a Good Idea in Wilkes-Barre, PA?

After a major disaster, you may have to close your business so you have time to make necessary repairs or rebuild. In Pennsylvania, federally declared disasters in the past few years have caused millions of dollars in damage to local businesses. 

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

If you have to close your business for even a few days, it could be financially stressful. Business interruption insurance allows you to benefit from continued income, even though you can't service customers while you rebuild. You can keep paying your normal bills and you may even be able to keep your employees on the payroll with this type of coverage. 

Your Wilkes-Barre agent understands the stress that comes with a major catastrophe. They can help you file claims when appropriate and walk you through your options as our needs change over time. 

Do Businesses in Wilkes-Barre Need Worker's Compensation Insurance?

All businesses in Pennsylvania must provide worker's compensation insurance if they have one or more employees. As a Wilkes-Barre business owner, you must provide a safe workplace for your employees. 

If there is an accidental injury, worker's compensation insurance provides your employee with the financial support they need to heal and get back to work as soon as possible. This kind of insurance can be expensive, depending on the type of work performed by your employees. 

Your agent can help you keep your worker's compensation insurance premiums low by matching you with an insurance company that works with other businesses in your niche.

What about Insurance Products for Employee Benefits Packages?

Businesses that subsidize healthcare costs and life insurance costs for their employees have an advantage when it comes to recruiting and retaining top talent. Studies conducted by human resources managers show that offering this type of coverage is an important part of maintaining company morale, as well. 

There are many options for life insurance and health insurance coverage. It can be difficult to compare policies and decide which one offers you the most value for your dollar. Your agent can help you sift through your options. They may also have cost-saving suggestions that you won't find with generic search engine quotes. 

Why Work with an Independent Insurance Agent in Wilkes-Barre, PA?

Each business has its own exposures and risks. Working with an independent agent in Wilkes-Barre gives you access to insurance expertise and options that you won't find with internet insurance companies. 

Find an independent insurance agent in Wilkes-Barre today to get started building your ideal commercial insurance policy. 

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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/Wilkes-Barre-Pennsylvania.html