Searching for business insurance can be confusing to new business owners. The many options and confusing terminology aren’t easy to navigate alone. That’s why it’s vital that you work with an agent who understands insurance in Albuquerque to ensure that you get the right coverage for your business. In the meantime, here are three key coverages that you should be sure to understand and include in your new policy.
Commercial Liability Insurance
Commercial liability covers you in case a non-employee sustains an injury or property damage because of your business. If a lawsuit is filed, your policy will cover the cost of your attorneys’ fees as well as any payments towards damages for which you’re found liable.
If your property is damaged or destroyed because of a fire, storm, theft or vandalism, your policy will cover the cost to repair or replace your stuff. Items that are usually covered under property insurance include your landscaping, building, equipment and furniture. Some policies will even cover your electronic data.
Workers’ Compensation Insurance
Many states require workers’ compensation even if you have just one employee. In case of a work-related injury or illness, your policy will cover any medical expenses as well as lost wages while your employee is out of work.
It’s important that you get the right policy that meets your business and regulatory needs. The best way to do so is to work with an agent who’s experienced in insurance in Albuquerque to make sure no stones are left un-turned when it comes to getting you covered.