Business & Commercial Insurance
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Business & Commercial Insurance Information
Business & Commercial Insurance in Albuquerque, NM
The responsible business owner is one who compiles an extensive commercial insurance portfolio. With the right coverage, you won’t have to worry about recovering from unexpected accidents.
What Commercial Insurance Do You Need?
You must insure multiple features of your business and operations. That will naturally require more than once insurance policy. How can you do that both efficiently and affordably?
Some of the policies you might need include:
We will help you determine the who, what, when, where, why and how of commercial insurance. Whatever coverage you choose, you’ll always get targeted protection at budget-friendly prices.
Essential BOP Coverage
BOPs, otherwise known as Business Owners Policies, are an easy way to get several pieces of coverage in one place. These packages contain common types of commercial insurance that apply to a multitude of industries. They often include:
Property insurance: In case something damages physical property like your building or possessions, this coverage can help you repair or replace them.
General liability protection: Covers the business in case it causes property damage or bodily injuries to another party, like a client or vendor.
Each BOP differs. Some will offer expanded coverage add-on options like cyber liability or professional liability insurance. Ask your agent about the specifics of your policy.
Commercial Auto Insurance
Do you own a vehicle specifically for the business? Do you use your personal car on official business travel? If you answered yes to either question, you might need commercial auto insurance. It’ll insure your business’s investment risk in operating vehicles.
Some of the coverage in these policies might include:
Liability insurance: Your state will often require all drivers to carry this coverage. If a policyholder is at-fault for an accident, coverage can compensate third parties for their injuries, property damage or other settlements.
Collision coverage: Pays for damage to your own vehicle after an accident.
Comprehensive insurance: Pays for damage to your vehicle after non-accident damage. Covered incidents might include vehicle fires, theft, vandalism and weather damage.
Uninsured/underinsured protection: If another driver causes damage to you, they might not have adequate liability insurance. This coverage can pay the costs that person might owe you.
Medical coverage: If you get hurt, this coverage can pay for your medical costs.
Depending on the type of business and vehicles you operate, you might need other coverage, like inland marine, cargo or trailer protection. Ask your agent about any coverage more specific to your industry.
Workers’ compensation extends to the needs of employees who get hurt or sick on the job. It essentially works to supplement the income the affected parties might lose because of the accident. With coverage, an affected employee might get help with medical bills, rehab costs and other financial needs. That can help better ensure their recovery and eventual return to work.
Let’s say an employee falls on their way to the bathroom. They might break a bone, get a concussion or have other injuries. Because the injury happened in the course of their duties, the business might hold responsibility for the employee’s injuries. Regardless of whether the business was negligent in the accident, they often have to offer the employee workers’ comp. Most businesses in the U.S. have to offer this protection to their employees.
Errors & Omissions (E&O) coverage extends to professional mistakes made by the business or its employees. If your clerical errors, professional advice or other factors harm a client financially, they can make a claim on this coverage. Therefore, you’ll be able to settle with the client for their losses.
Here When You Need Us
We are here to help you when you need help with your commercial insurance package. You’ll always get effective coverage at the appropriate prices. Don’t hesitate to contact us today for a quote!