Business Insurance in Prairie Village, KS
Running a business involves many potential risks. Your business could experience a burst pipe, customer injury, or other unexpected incidents. To help mitigate the financial impact of these risks, business owners must obtain a well-rounded insurance policy before their operations begin.
What Is Commercial Insurance? 
Commercial insurance is another name for business insurance. It can offer financial protection against potential losses due to unexpected events. Such incidents may include lawsuits, severe weather events, or accidents involving a customer or client.
What Does Commercial Insurance Cover?
Commercial insurance can include various coverage options based on the specific risks a business faces. These coverage options may include the following:
- General liability insurance
- Commercial property insurance
- Workers’ compensation insurance
- Professional liability insurance
- Commercial auto insurance
- Business interruption insurance
- Cyber liability insurance
Businesses should consider working closely with an insurance broker who will perform a thorough assessment of the organization and can make coverage recommendations based on their research and in-depth experience.
How Much Does Commercial Insurance Cost?
The following factors can influence commercial insurance premiums:
- Industry/type of operations
- Geographic location
- Claims history
- Types of coverage
- Number of employees
- Type and number of assets
Why Is Commercial Insurance Important?
Commercial insurance is an essential consideration because it can help mitigate financial risks. Without it, business owners would be responsible for paying for any incident out of pocket. One costly incident could have devasting impacts on a business. Additionally, some coverage may be legally mandated, such as workers’ compensation. Failure to comply may result in expensive fines.
Learn More
For commercial insurance near you, contact Bovard Insurance Group.