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.
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.