Desmond Insurance Blog
Although no company likes paying for insurance, contractors and trades still need it. Contractors that neglect insurance, like commercial insurance, for their businesses, leave them prone to liabilities, loss, and other unexpected expenses. Thus, here is data about commercial insurance and how it protects you, your tools, and contractor and trades business needs.
Commercial Insurance and It’s General Liability Coverage
Under commercial insurance is the commercial general liability insurance (CGL) that protects your business in times of legal disputes and liability. Lawsuits can cost you millions of dollars or even lead to bankruptcy, especially for bodily injuries, having CGL can save your firm at this crisis.
CGL packages cover bodily injury, personal injury, and property damage liability for customers and your trade employees. For example, a customer got injured, or his/her property got damaged due to your employee's negligence, the insurance company will pay for the compensation. CGL can also protect your tradesmen and women as they have more exposure to other people's homes and properties that may cause legal liabilities.
Commercial Insurance Saves More Money
If you are worried about the insurance payments and rate increases, debunk this theory right away as commercial insurance got your back. Aside from having protection against the worst-case scenarios, having this type of insurance can also help you recover from the loss you have. It is better to spend more than $40 a month for insurance fees than pay for massive and unexpected expenses during an incident.
Commercial Insurance Offers Additional Coverage and Endorsements
Every insurance package offers extra coverages and endorsements to enhance the coverage of the commercial insurance that you have purchased. The additional protection that you can buy can be for installation floater, business income, or machinery and equipment coverages that stand out from the typical CGL policies.
Commercial insurance offers more than what you think, starting from protections against lawsuits, coverages for tools, machinery, equipment, and other liabilities. However, if this insurance seems insufficient for you, you can also get contractor’s insurance packages to ensure that your business keeps being operational and stable at all times.
At Desmond Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (859) 491-5100 or Click Here to request a free quote.