Your business is not only your livelihood but it is more than likely one of the largest investments you will make in your lifetime. You need the peace of mind and security that is provided by a commercial insurance policy. Here are some of the main coverage options that a commercial insurance policy will provide for you and your business.
Workers’ Compensation Insurance
In the state of Illinois, all businesses you must have workers’ compensation insurance if you have four or more employees working for you at your business. This type of policy will cover injuries or illnesses that may be sustained by employees while working at their job.
Commercial Auto Insurance
It is also required to have at least liability insurance in Illinois for all vehicles, including those that are used for business. This policy will cover any injuries to people involved in an accident up to a certain amount along with property damage that occurs during the accident.
General Liability Insurance
This policy will protect you if a customer or visitor is injured on your business’ property or due to a product you sell. This will also cover property that is damaged by your business. For example, if you own a tree-trimming business and a branch falls from a tree and hits someone, causing them to be injured, this policy will help to cover the medical expenses and time off of work that they may incur. If you rent the space in which your business is located, the property owner will more than likely require you to obtain a liability policy.
To create the best policy for you and your business, you will need to enlist the help of an experienced commercial insurance agent like the agents at the Taake Insurance Agency in Columbia, IL. Call for an appointment today!