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9235 N Union Blvd., Ste. 150 #385
Colorado Springs, CO 80920

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What Does Commercial Insurance Cover?

Suppose you own a business in the beautiful city of Colorado Springs, CO. In that case, you will want to protect it in any way possible, including having an adequate amount of commercial insurance. Our agents at Westco Insurance LLC offer various types of insurance, including commercial insurance, to residents and businesses in the Colorado Springs, CO area.

What is Commercial Insurance?

Also known as business insurance, commercial insurance is a type of insurance policy created to help protect your business and assets from various risks and liabilities. Listed below are some common types of commercial insurance coverage.

Types of Commercial Insurance Coverage Options

General Liability Insurance

This type of coverage protects your business if someone claims bodily injury, property damage, or personal injury, such as slander or libel, from your company. This coverage option can also help you cover legal defense costs in one of these types of cases.

Commercial Property Insurance

This is significant since it will help you recoup any losses your business experiences from theft, natural disasters, vandalism, or fires. It will cover your inventory and building as well as equipment and furniture.

Commercial Auto Insurance

In the state of Colorado, it is required that all drivers have at least an auto liability in place. If your business owns vehicles used for business purposes, you must have a commercial auto insurance policy in case of an accident.

Other Types of Commercial Insurance

Other types of commercial insurance include workers’ compensation, professional liability, product liability, cyber liability, business interruption insurance, and others.

Call Westco Insurance LLC Today!

Our agents at Westco Insurance LLC, serving the Colorado Springs, CO area, can assist you with all of your insurance needs and create a commercial insurance policy that works best for you and your business. Call today to get your policy started!

Navigating Cyber Insurance for Businesses in Colorado Springs, CO

In today’s digital age, businesses face an ever-increasing risk of cyberattacks and data breaches. Cyber insurance is a crucial component of a comprehensive risk management strategy, helping protect businesses from the financial losses resulting from such incidents. Westco Insurance LLC serves as a trusted resource for companies seeking guidance and support in navigating the complex world of cyber insurance coverage.

Why Your Business Needs Cyber Insurance

Cyber threats pose a significant risk regardless of your business’s size or industry. Cyberattacks and data breaches can lead to a variety of financial consequences, including:

  1. Data Recovery Costs: Restoring and recovering data after an attack can be time-consuming and expensive.

  2. Business Interruption: A cyber incident may disrupt operations, leading to additional expenses and lost revenue.

  3. Legal Expenses: Data breach victims may file lawsuits against your company, resulting in costly legal fees and potential settlements.

  4. Reputation Damage: The negative publicity surrounding a cyberattack or data breach can tarnish your brand’s reputation, leading to lost customers and reduced revenue.

Critical Components of a Cyber Insurance Policy

When considering cyber insurance coverage for your business, it’s important to understand the various components that may be included in a policy:

  1. First-Party Coverage: This covers expenses your business incurs as a direct result of a cyber incident, such as data recovery costs, public relations efforts, and customer notification.

  2. Third-Party Coverage: This protects your business against claims made by third parties, such as customers or partners, who have suffered damages due to a cyber incident involving your company.

  3. Business Interruption Coverage: This compensates your business for lost income and additional expenses incurred during restoring operations after a cyberattack or data breach.

  4. Legal and Regulatory Coverage: This covers legal expenses, fines, and penalties resulting from regulatory investigations or lawsuits following a cyber incident.

Protecting your business from the financial losses associated with cyber threats is essential in today’s digital landscape. If you’re seeking cyber insurance coverage in Colorado Springs, CO, contact Westco Insurance LLC for expert guidance and personalized solutions. Contact us today to discuss your cyber insurance needs and secure the protection your business deserves.

What You Need to Know About Liability Insurance for Commercial Transport in Colorado Springs

Do you, a business owner in Colorado Springs, CO, need liability insurance for your commercial transport? If so, you’ve come to the right place. Let’s break down everything you need about liability insurance for commercial transport in Colorado Springs. 

What is Liability Insurance? 

Liability insurance protects businesses from financial losses resulting from claims made against them because of negligence or injury sustained by a third party. This coverage helps cover legal fees, medical expenses, and court costs associated with such claims. In short, it provides financial protection in case of an accident or injury on your premises. 

Who Should Have Liability Insurance? 

Anyone who owns a business or operates commercial transport should have liability insurance. This includes buses, trucks, delivery vans, and other vehicles used for work purposes. It’s essential if your business involves transporting passengers, as this increases the risk of potential accidents and injuries occurring. If you’re unsure if you need commercial liability insurance for your vehicle, contact Westco Insurance LLC, a Colorado Springs, CO, insurance agency. We can help you determine the best coverage for your needs.

What if I Use My Personal Vehicle for Work?

If you use your vehicle for work, such as making deliveries or transporting passengers, ensure adequate liability insurance. This will protect you from any damage that may arise if an accident occurs caused by your negligence. 

Where Can I Get Liability Insurance?

If you want liability insurance for commercial transport in Colorado Springs, CO, contact Westco Insurance LLC today! Our experienced agents will be happy to answer questions regarding your options and help you find a policy that meets your needs and budget. Don’t wait—contact us now!

Find Out What Risks Small Restaurants Face

Small food service businesses have to face many risks to stay afloat. Many of these risks are unique to the food industry and can be difficult to anticipate or prepare for. Westco Insurance LLC wants to tell you about some of the most common risks that small restaurants face in Colorado Springs, CO, and how you can protect yourself from them.

Foodborne Illness: A Top Risk for Restaurants

Restaurants must be very careful to avoid foodborne illnesses, which can majorly impact their business and reputation. If a restaurant does not properly cook or handle food, it can quickly become contaminated and make people sick. This is a primary concern for customers, as they do not want to risk getting sick from eating at a restaurant.

The Risk of Fire in a Restaurant

There are many potential fire hazards in a restaurant kitchen, including deep fryers, stoves, ovens, and grills. In addition, flammable liquids such as cooking oil and grease are often used in the kitchen. If these liquids are not properly stored or handled, they can easily catch fire. Furthermore, electrical appliances such as microwaves and toasters can also be fire hazards if they are not used properly.

The Risk of Customer Injury at a Restaurant

Customers may become injured in a restaurant due to several potential hazards. Restaurants have many troubles, including hot surfaces, sharp objects, and slippery floors. If customers are not careful, they may burn themselves, cut themselves, or fall and hurt themselves. Furthermore, there are typically many people moving around in close quarters at restaurants, which increases the risk of customers being bumped or knocked over.

Westco Insurance LLC in Colorado Springs, CO is a commercial insurance company that offers a wide range of insurance products and services to businesses in the area. We are dedicated to providing our clients with the coverage you need at the most competitive rates. For these reasons and more, your small restaurant business needs insurance protection.

Commercial insurance most businesses can benefit from

Most states have some requirements that businesses have commercial insurance, but not too many. In most cases, it is focused on protecting people from your company, not protecting your business. If you own a business, you understand that many risks are involved. At Westco Insurance LLC in Colorado Springs, CO, we have an experienced team that understands these risks and can help you make sure you have the coverage you need to protect you from those that apply to your business. 

Commercial liability insurance

Owning a business is risky. One of the significant risks that every business faces is getting sued. It is a real threat. One in three businesses gets sued in any given year. A judgment against you could shut down your business if you don’t have the commercial insurance you need to protect yourself. Even just the legal expenses could damage your business irreparably. 

Workers compensation 

In Colorado, every employer who has one or more employees is required to have workers’ compensation insurance. Whether they are full or part-time, seasonal, or even family members, it doesn’t matter. If they work for you, they are employees. 

Commercial property insurance

Commercial property insurance can make a difference if a covered hazard ever hits your business. It will cover the building if you own it, but it has great value even if you are a renter. It covers all the things you need to do business. Depending on the type of business you have, it can be tools, machinery, display cabinets, or almost limitless other items. But whatever you need, this insurance will help you repair or replace it so your business can survive. 

Contact Westco Insurance LLC in Colorado Springs, CO with all your commercial insurance concerns and needs.

Why Commercial Insurance is an Asset for your Business

Owning a business does not come easy. And in that case, you need to cushion it from all risks that come with owning a business. One unfortunate event could wipe out your much-invested business. Imagine the devastation! Where do you even begin? But that does not need to be the case. Investing in commercial insurance protects you from such mishaps regardless of the industry.

Are you in Colorado Springs, CO, and still viewing commercial insurance as an expense? Here are the reasons why you should invest in coverage from Westco Insurance LLC.

Liability protection

Every business comes with its unique risks. Imagine if you sell products, and one of your products causes harm to your clients? Think about the financial consequences of legal suits to medical expenses, which could cost you thousands of dollars. Fortunately, commercial insurance investment protects you from damages caused to a third party.

Assets protection

Imagine a fire ravaging your business assets? Think about the financial losses you would incur due to business interruption and property damage. Thankfully, investing in commercial insurance cushions your business assets from theft, vandalism, fire, and other risks stated in your policy.

Employee protection

Employees are invaluable assets that make a difference between the success and failure of your business. That said, employees being your most significant asset requires utmost protection — there is no better way to safeguard your employees than investing in workers’ comp insurance.

Increases your business reputation

Suppliers and customers want to associate with a business that is well protected if anything goes wrong. Business insurance sets you apart from your competitors by increasing your credibility.

Commercial insurance in Colorado Springs, CO

If you considered commercial insurance as a waste of money, think again. With all the benefits associated with this coverage, you can’t afford to secure one for your business. Ready to get started with commercial insurance? Look no further than Westco Insurance LLC. Contact us today for an affordable quote

How commercial insurance can save a small business

Small businesses account for 99.9% of all businesses in the country. It is tough being a small business owner. Many small businesses fail every year. Since a small business is any business with under 500 employees, you are probably not aware that most small businesses have fewer than 10 employees. These are the most vulnerable and the most likely to fail. Commercial insurance can add a safety net. At Westco Insurance LLC in Colorado Springs, CO, we help small businesses find the commercial insurance they need to protect their business. 

If something happens to your machinery, inventory, office equipment, or raw materials, your small business could be in danger of going under. Would you have the money you need to replace all these things and get your business back up and running? Would you be able to survive? If the answer is no, to either or both of these questions, then commercial property insurance is what you need to save your small business.

If you were sued by someone who was injured while visiting your business or by a product or service you supply, would you have the money needed to settle the judgment and to pay your legal expenses? If the answer is no, you need to have commercial liability insurance which can pay medical expenses as well as judgment and legal expenses. 

If a covered hazard closed down your business for weeks or months, would you be able to stay afloat in the interim? Could you pay your bills and pay your employees and yourself?  If you have business interruption insurance, you will get the money that you need to meet your routine expenses even though your business is closed. 

Contact Westco Insurance LLC in Colorado Springs, CO, when you are ready to discuss your commercial insurance needs. 

Required Commercial Insurance Coverage in Colorado

Like many states, Colorado dictates the kind of commercial insurance that Colorado business owners must-have. Two types are required for most businesses in the state. If you are unsure that you have all of the insurance coverage that your business needs, call us at Westco Insurance LLC in Colorado Springs, CO.

Workers’ Compensation Insurance

This type of insurance is required for all Colorado businesses that have employees. It doesn’t matter how many employees you have. It would be best if you had this coverage type for all of them. According to the state, even if you haven’t formally hired someone, if they do work for your company, they are considered to be employees. Your workers’ compensation policy pays for injuries and illnesses that a worker gets while at work. This protects your business from having to pay all of the medical bills directly. 

Commercial Auto Insurance

For businesses that own one or more vehicles, commercial auto insurance is required for those vehicles. Several types of coverage must be in these policies. These include bodily injury liability and property damage liability. Another type of insurance is recommended for vehicles that you use for business but are not owned by your business. This is called hired and non-owned insurance. 

Other Liability Coverage

There are several other types of commercial insurance that provide liability coverage. Though the state does not require them, they are highly recommended for many types of businesses. This includes a general liability policy that covers many different types of liability. Cyber liability insurance can help tremendously if there is a data breach of your system. 

Get Your Commercial Coverage

To keep your business compliant with Colorado laws, make sure you have at least the required amount of commercial insurance your business needs. If you want to know more, call us at Westco Insurance LLC in Colorado Springs, CO.

Do I need commercial insurance in Colorado?

The Colorado Springs, CO area continues to be a quickly growing part of the country. If you are going to start a business, this growth can make it a great area for you to start a business. If you would like to start a company in this area of the state, getting proper insurance continues to be extremely important. There are a few reasons why you need to get commercial coverage when you are here. 

Insurance is Required

One of the reasons you need to get commercial insurance for your business is that it is required. Most people that start a business will need to comply with different insurance requirements. Depending on your situation, you may need to meet commercial insurance requirements set by your bank, landlord, investors, or other interested parties. Not complying with these requirements could lead to an insurance requirement violation. 

Insurance Protects Company

Even if you do not have commercial insurance requirements, you should still get coverage. A full commercial insurance plan is the best way to protect your company. If you get a commercial insurance plan, it will give you the needed coverage to repair or replace your business assets and protect against the risk of liability. Ultimately, this insurance can keep your company solvent. 

A business in the Colorado Springs, CO area that wants to succeed needs to ensure that they get proper insurance. Since picking a commercial insurance plan can be complicated, it would be wise to call AmPro Insurance LLC to discuss your needs. The team with AmPro Insurance LLC understands how complex this type of coverage is. We can help by assessing your situation and building a policy that is appropriate for your situation. 

Most Common Commercial Insurance Myths

When you operate your business, it is vital to have the right commercial insurance to protect you as a business owner, the company itself, your employees, and all business assets. However, choosing proper commercial insurance is not the most straightforward task despite all the false information that business owners are bombarded with. AmPro Insurance LLC, serving clients in Colorado Springs, CO, has prepared the list of most common myths that every business owner should be aware of: 

There is no need for commercial insurance for a home-based business.

Unfortunately, the truth is that your standard homeowners’ insurance does not cover your home office and its contents. Anything about your business needs to have additional coverage, even if it is located in your house. Therefore, if you operate your business from home, it is essential to notify your insurance company about it to make the necessary adjustments. 

Vehicles used for commercial purposes are covered automatically.

Many people assume that if they use their personal cars for business purposes, they do not need any additional insurance. All vehicles used for work need to have separate coverage – commercial auto insurance.  

You do not need to purchase workers’ compensation insurance if you do not have any employees.

There is nothing wrong with running a business by yourself without any employees, as long as you can stay organized and focused. However, it does not mean that you should not carry workers’ compensation. It is still beneficial to purchase this type of coverage for yourself. It will help you protect yourself from lawsuits and claims against you. 

If you are thinking about commercial insurance for your new business or update the current policy, AmPro Insurance LLC, serving Colorado Springs, CO, will be happy to help you. Our knowledgable and experienced agents will answer all your questions and provide you with the information you need. All you need to do is to visit our website or give us a call. 

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