Many business owners are tempted to skimp on their business insurance, but that can come back to bite them in the long run. Quite often it is the complexities of business insurance that force owners to settle for less than they actually need. It takes a skilled agent to determine the right commercial coverage for any enterprise, and every business has its own particular needs.
As careful and conscientious as a business owner may be, accidents and disasters still happen. Having adequate insurance at these times provides protection for both your business and your employees. The foundation to having suitable business insurance in Utah lies in Commercial General Liability insurance. This particular type of policy will protect your business against a variety of liability claims.
Claims Covered by Commercial General Liability Insurance
If you have invested the time, money and effort into setting up a business in Utah, you’ll want to make sure its future is protected by having adequate commercial insurance. Claims covered by General Liability Insurance include:
- Products and completed projects
- Injury to persons, including employees, on your premises or property
- Damage to the property of your business, customers, or employees
In addition to such typical risks as theft and fire, there are a number of other risks that are unique to each particular type of business. As such it is essential that business owners ensure that they purchase the correct type and amount of insurance, and update those policies on an annual basis to include additions or improvements to property, major purchases and increased operating costs or additional liability risks
One of the biggest challenges business owners face is simply assessing the potential problems their business may face in order to take appropriate measures to eliminate, or reduce those risks. If you run a commercial operation, it’s important that you spend some time identifying your businesses specific risks, from employee safety concerns, property risks, customer relations challenges to business interruption and corporate security.
If you are not sure how to assess such issues or much insurance you need for each aspect of your business, you should consider having an insurance broker assist you in assessing possible risks and the appropriate insurance coverage required. Our helpful agents at ASA are happy to analyze your business needs and help you understand the options that will provide the best coverage for you, your business, and your employees.
By assessing your business risks from multiple angles with a qualified ASA commercial insurance agent, you can more adequately protect your company from the challenges that can undermine your company’s financial health, or that of your employees.