Do You Need Commercial Insurance for Your Alabama Business?

If you own a business in the beautiful state of Alabama, our agents at the Highpoint Insurance Group serving the Dadeville, AL area have some things to explain that you need to know about commercial insurance. Also known as business insurance, a commercial insurance policy is a type of insurance coverage you should strongly consider to protect your hard work and dedication in opening your own business.

Commercial insurance is designed to offer financial protection and as well as peace of mind for you as a business owner. While the state laws of Alabama do not legally require you to have commercial insurance, there are two types of policies that are required under the laws of most states. Those are commercial auto liability insurance and worker’s compensation insurance.

Commercial Insurance Required in Alabama

Commercial Auto Liability Insurance

This type of policy is needed if your business uses vehicles to function. It will cover accidents that may occur along with damage and liability for vehicles that are owned or leased by your business.

Workers’ Compensation Insurance

Workers’ compensation insurance is mandatory in Alabama for businesses that have five or more employees. This type of policy will cover medical expenses and lost wages for employees who suffer job-related injuries or illnesses. This will help decrease your level of liability while ensuring your employees are taken care of properly.

Other Types of Commercial Insurance

General Liability Insurance

One of the most important types of commercial insurance is general liability insurance. This policy will help keep your business safe from claims from someone who has been injured at your business or property damage that has been caused by your business. It can cover legal fees, medical expenses, and legal settlements.

Commercial Property Insurance

Property insurance is another very important coverage to have in place, especially if you have a physical location. It can help repair or replace damaged buildings, equipment, and inventory if a natural disaster, fire, or vandalism occurs.

Contact Us Today

To ensure your business is protected properly, contact our agents at the Highpoint Insurance Group serving the Dadeville, AL area to start your commercial insurance policy today!

Commercial insurance that can help your small business

At Highpoint Insurance Group, serving the greater Dadeville, AL community, we understand the challenges small businesses face every day. Our job as independent insurance agents is to help mitigate some of the risks your business faces, so you can survive if you are ever struck by a covered peril.

The first step is making sure you have the right coverage:

Commercial property insurance

Commercial property insurance can help your business to survive a covered peril. It not only covers the building, if you rent, you don’t insure the building, it covers the things you need to do business. Depending on the type of business you have, it could be plumbing tools and materials, office equipment, machinery for manufacturing, and raw materials or display units for stores. You will be able to replace the things you use and get back to work sooner. 

Commercial liability coverage

Being sued is a distinct possibility when you own a small business. It happens all too frequently and not only can it drain your time, but it can also drain your bank accounts if you don’t have commercial liability insurance protecting you. 

Workers compensation coverage

If your business has five or more full or part-time employees, you need to cover them with workers compensation insurance. It is a good thing for your employees and your business. 

Business interruption coverage

When your business is hit by peril, if you have business interruption insurance, it can help you to survive this time when your income stream may dry up. If you can’t do business, your expenses do not go away. You still need to pay your rent and the salaries of your employees and even your own. Having this insurance can really save your small business. 

Give Us A Call

Contact Highpoint Insurance Group in Dadeville, AL to discuss how your business can benefit from commercial insurance coverage. 

A Look At Common Commercial Insurance Add-Ons

Highpoint Insurance Group is an independent agency. We serve the Dadeville, AL community and the surrounding areas. For over 20 years, we have helped our clients find the coverage they need to protect their assets in every situation. Life is full of unexpected points. Having a strong insurance policy can help alleviate stress and allow you to live comfortably. We work with multiple carriers throughout the South. This allows us to meet the needs of our clients regardless of what they are looking for.  We look forward to serving you.

Common Commercial Insurance Add-Ons

The Dadeville, AL community is a competitive marketplace for local businesses. If you are a local business owner, you are constantly looking for ways to gain a competitive advantage. Having a strong commercial insurance policy can help you stand out. Commercial insurance protects your business in multiple ways. The policy protects all of your inventory and equipment in the event that it is damaged or stolen. You are also covered if your business is impacted by a natural disaster or accidental fire. Liability coverage is a major part of your policy. Interacting with your customers exposes you to potential risks. You are protected if one of your customers is injured while visiting your property or if they allege that your products caused them harm.

You also have the ability to add some unique coverage to your policy. Business interruption coverage is popular. Business interruption coverage protects your business if you have to cease operations temporarily due to a natural disaster or other covered loss damaging your business. Cyber liability coverage is another popular add-on. With so many transactions taking place online today, cyber liability coverage protects your business if you suffer a data breach.

Highpoint Insurance Group Will Help You Protect Your Assets

Visit our website to learn more information about commercial insurance.

Is an Alabama commercial insurance plan a good investment?

It is a dream for many people to own a business. When you are a business owner, you are going to control your own destiny and be your own boss. If you are going to open a business and the Dadeville, AL area, you always want to make sure that you have proper insurance. Having commercial insurance will continue to be a good investment for a few reasons.

Protect Against Liability Risk

One of the reasons that you should get this coverage in Alabama is so you can offset your liability risk. Business owners today need to recognize that they take on liability risk with every transaction they complete. Since this is a risk that will always exist, having insurance is a good idea as it can help to protect the viability and financial future of your business.

Cover Your Assets

You should also make sure that you get insurance to protect assets that are owned by your business. When you have this type of insurance, you will consistently have the insurance you need to repair or even fully replace your core business assets. If you are ever a victim of a fire, theft, or other situation that is covered, you will know that you have the support by your side to continue to properly operate your business.

There are many great reasons to start a company in the Dadeville, AL area. When you are looking to be a business owner here, finding ways to protect it is extremely important. As you are assessing your insurance needs, calling the Highpoint Insurance Group can be a great option. The team with the Highpoint Insurance Group knows the value of this coverage and will offer any support you need to build an appropriate plan. 

Commercial Insurance for Small Tourist Businesses in Alabama

Dadeville is in a beautiful part of Alabama, near Lake Martin and the Wind Creek State Park. However, with a population of around 3,200, it is not what one might call a booming metropolis. Nevertheless, it situated in an area that provides a strong attraction for tourists.

Small businesses that work in the tourism industry, such as those that offer guided tours of the nearby area, hunting and fishing trips to Lake Martin, and campouts in the Wind Creek State Park, benefit from having adequate commercial insurance to protect the business and their customers.

Work with an agent at High Point Insurance Group, serving Dadeville, AL, and the surrounding area, to be sure to have adequate protection for workers, vehicles used for the business, equipment, and real property that is owned or leased by the company.

Workers’ Compensation Insurance

In the state of Alabama, a business owner must have workers’ compensation insurance if they hire more than four employees. Businesses who hire part-time or seasonal employees are not required to carry workers’ compensation.

Commercial Vehicle Insurance

If you use a vehicle for a business purpose, even if only occasionally, then you need to have commercial vehicle insurance coverage. Be sure to tell your agent who is authorized to drive the vehicle. Do not allow unauthorized persons to use it.

General Liability

Every small business needs general liability insurance to protect the business and the owner from claims for injuries, death, or damage to property caused by the business.

Business Interruption Insurance

A good type of insurance to protect a small business is business interruption insurance. This helps pay the ongoing bills if the company cannot operate normally due to no fault of its owner, such as a temporary stoppage due to a natural disaster.

Other Commercial Insurance

There are many other types of commercial insurance to consider, so talk with your agent at High Point Insurance Group in Dadeville, AL to get a commercial insurance review and a quote for the protection you need.