As a business owner, you may want to take measures to protect your company from unnecessary challenges and strife. Although the exact coverage options that are available to protect your business can depend on several factors, an independent agency like the Homeowners Insurance Group can assist with the process. An agency will offer information about the state requirements as well as recommendations based on the needs of your company.
Commercial Auto Protection
In the state of Arizona, you are required to obtain liability protection for every vehicle that the company owns. Although liability protection is required, you may want to purchase additional coverage that exceeds the minimum laws. Furthermore, businesses may also need to comply with additional regulations and laws in certain situations, such as a vehicle that is transporting chemicals or other hazardous materials.
Liability Coverage for Businesses
General liability protection is recommended for every business, even if you have a low risk of accidents. The reason is that unexpected situations can arise and you may be held responsible for the accident that occurs. Even if a customer slips on the ice outside a business, it may be your responsibility. As a result, having some coverage to pay for unexpected accidents can ensure that you are properly protected.
Any time that a business owns a property, it is important to purchase a policy that will protect the asset. Property protection will usually pay for damages to the building after a storm or other covered situation arises. In some cases, the policy may also provide some protection against accidents and basic liability concerns when an accident takes place on company property.
Worker's Comp Coverage
If you have an employee, then the state of Arizona requires that you purchase a worker's compensation policy. There are some exceptions, such as domestic servants or working partners in a business, but it is generally a good idea to purchase the plan if you are thinking of hiring an employee.
Business Owner Packages
Any time that you are not sure about the details of a policy, you can purchase a business owner package to protect your business. In general, the policy will offer some basic protection for your company property and liability concerns; however, it may not offer the full extent of the coverage that you need in certain situations.
Keeping your business safe can seem complicated, but insurance is available to protect a company. To learn more about your options and policies in Arizona, contact us to talk to an agent today.