Your business is unique, and you know the importance of having the right commercial insurance that will adequately protect all your business needs. While each business may have its own set of uniquities, commercial insurance does have some common coverage options that every business needs.  Whether your business is a one-person office, or a building filled with hundreds of employees, some afforded coverage options are needed/required; while other options are available to round out a custom-built business insurance policy to adequately protect your specific business needs.

Key Variables That May Affect Your Business Coverage, but Not Limited to:

Commercial insurance does not come in a “one-size-fits-all” package, so the type of N.C. business coverage you need depends on some variables such as:

  • Location of your office building
  • Services offered
  • Whether you rent or own the office space
  • Whether customers/people come onto your property for business purposes

It is recommended you discuss your unique business set-up with your local N.C. independent insurance agent to make sure you have the right type of insurance protection to protect your livelihood.

Some Common Coverage Options Every Business Needs

Building/Property Coverage- When a covered loss happens, you need to make sure your business office is protected.  If you own the office building, you need to make sure the building is insured for replacement cost valuation and that needs to be done with the assistance of your local N.C. independent insurance agent. Not being adequately insured on your property coverage can be financially devastating should something like a fire ensue. Typical property insurance coverage covers the repair or replacement of your business property from damages occurring from a covered peril(s).

Contents Coverage- If your office building is damaged or destroyed by a covered peril, you need to also make sure you have the right amount of coverage for your contents inside or on the property.  You will need to consider items such as office furniture, equipment, and fixtures.  Keep in mind that some business insurance policies can be as simple or complex as your business needs.  Some additional coverage options to consider, depending on your particular business needs, may include outdoor property, computer equipment, crime coverages, accounts receivable, and fine art coverage.

General Liability- Regardless of how careful you are, accidents can and do still happen and when they do, you need to make sure you and your business are protected.  In order to protect your big investment, you need a general liability insurance plan to protect against claims of property damage or bodily injury.  For example, if you have customers coming to your office building, you need the right amount of protection in case someone falls or slips and gets injured on your property. if you do not own your office building, it is still essential to have general liability insurance coverage.

Business Owners Policy (BOP)- A business owners policy may be best suited for your N.C. business needs.  It includes the key coverage options common to most businesses and can still be customized to suit your specific business needs. You can bundle certain insurance options such as property insurance and general liability insurance and even more, under one policy, which can save you money.

Some Additional Commercial Coverage Options to Consider

Your business may be the biggest investment yet, so it’s essential to make sure the insurance protection is adequate.  Below are some other key commercial coverage options you may need to custom build your N.C. business insurance:

  • Employment Practices Liability (EPL)
  • Workers Comp
  • Cyber Liability
  • Business Auto
  • Business Interruption
  • Product Liability
  • And More!

We, at Twin City Insurance, understand the importance of your N.C. business and are here to assist you in every way.  If you have any questions or concerns regarding your business insurance, feel free to contact us right away at 828-464-2643.