Business & Commercial Insurance

Business insurance helps provide protection against a wide range of risks that businesses face daily. Business insurance is a crucial investment that helps shield businesses from unexpected events, enables them to navigate challenges more effectively, and provides a solid foundation for long-term success. Without it, businesses would have to pay for costly incidents out of pocket. 

What Does Business Insurance Cover? 

The following are the four most common business insurance coverages: 

• Property insurance may help cover repairing or replacing commercial property if it is lost or damaged due to a covered incident.
• General liability insurance may help pay for damages and medical bills if the business causes a personal or advertising injury, property damage or bodily injury to a third party.
• Commercial auto insurance may help provide coverage for vehicles owned by a business.
• Workers’ compensation insurance may help provide wage replacement and medical benefits to employees who are injured or ill due to a work-related incident. 

 

The following are additional coverage options an insurer may recommend: 

• Cyber liability insurance 
• Commercial umbrella insurance 
• Professional liability insurance
• Directors and officers insurance
• Product liability insurance
• Business interruption insurance
• Employment practices liability insurance 

When Do You Need Business Insurance? 

Business insurance should be obtained when you start a business or engage in commercial activities. It is important to have insurance coverage in place from the very beginning to protect your business and its stakeholders from potential risks and liabilities. The following are some examples of who may need business insurance: 

• Small business owners
• Freelancers and independent contractors
• Entrepreneurs and startups
• Established businesses
• Contractors and tradespeople
• Professionals in service industries 

 
Contact Brent R. Lucas Agency to discuss your business insurance needs. Our staff will work with you one-on-one to develop the right policy for your specific operations.