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!