When you purchase commercial insurance for your Chester, NJ business, you might think that one size fits all, but The Insurance Outfit wants you to understand that you customize your insurance policy to your business. If you own a storefront business, you need insurance coverage that a home-based business would not.
Storefront businesses require items like glass insurance to remain fully covered from typical perils. Business owners can add these policies to their business owner’s policy (BOP) or general liability policy. You do need to start with either an essential liability policy or a BOP to add the other policies. Like many insurance situations, you need the main policy before you can add on to it with supplementary insurance.
Glass insurance covers damage to the plate glass windows or a dance studio’s mirrors. This type of coverage does not come with a typical property damage policy. You would also need property damage coverage though for a storefront to cover your building’s structure, your office equipment, and your computers against damage from a tornado, hurricane, hail, etc.
If you have employees, most states require you to purchase workers’ compensation insurance. This covers your employees’ pay and medical costs if they get hurt on the job or they incur an illness due to their job. An example of the latter is if in-office exposure to black mold in the walls causes them to fall ill.
Each business has different needs. Every business should start with either general liability or a BOP, then add to the insurance to customize coverage.
Let The Insurance Outfit help you find the right coverage. With more than 20 types of commercial insurance, you need a guide to help you find the right policies for your Chester, NJ business. Call us today.