If you are thinking about opening your own business, there is a good chance that you will need to invest in commercial insurance. And while this might seem like a pretty straightforward concept, once you start looking at commercial insurance policies, you will quickly notice they are available in different types and some types might not be applicable to your company. For now, Mid Atlantic Insurance Financial serving the Laurel, MD area would like to give you a rundown on the types of businesses that need commercial insurance.
You own commercial property
If you own commercial property and there are workers or customers who use the property to carry out business-related functions or even leisurely activities, then commercial insurance will be essential to protecting your assets. With commercial insurance, you can rest easy knowing if anyone is hurt on your commercial property that the insurance will help compensate for the associated medical expenses.
You run your own business
Even if you operate a business out of your home, you will need to check with an insurance agent to see if you can benefit from commercial insurance. This type of insurance will be especially advantageous if you carry out business functions from your home that require business colleagues or customers to visit you at your home office. Commercial insurance is also important if you operate your own company because it can help protect you from issues such as libel and slander.
You have employees working for you
Lastly, any business that has employees needs to at least invest in workers’ compensation insurance. In fact, depending on the number of employees that you have, it may be mandated by law that you have this type of insurance.
The easiest way to learn about the various types of commercial insurance you need is to speak with a qualified insurance agent from Mid Atlantic Insurance Financial serving the Laurel, MD area.