As a business owner, you probably consider commercial insurance an unnecessary expense. However, without it, you put yourself at risk of serious financial loss. You never know when something can go wrong, and without insurance, you are absolutely unprotected. Here is a list of other risks you may face when deciding not to purchase commercial insurance:
What Are The Risks Of Not Having Business Insurance?
Have you decided to skip commercial insurance and operate without it? Then, be prepared for the following risks:
- Losing your property. Let’s say your business was damaged by an earthquake, flood, or anything else. If you have proper commercial insurance, it will cover your financial losses. However, if you do not, you will have to pay for everything yourself.
- Leaving your employees without protection. Your employees play a significant role – they help keep your business afloat. This is why it is so important to protect them. However, without proper business insurance, you will not be able to do that. For example, if your employee gets injured at work, you will be responsible for their medical costs.
- Interruption in business. There are so many things that can interrupt your business operations. Business interruptions can set your business back and make you lose thousands of dollars. Without proper commercial insurance, you will have to pay for all the damages and repairs yourself. You also risk losing both current and potential clients.
Looking For Insurance in Easton, PA?
If you run a business, you should have commercial insurance. It helps you avoid many risks and unnecessary expenses and keep your business secure. Do you run a business in Easton, PA or any other nearby town in Pennsylvania? Valor Insurance is here for you and ready to help. At Valor Insurance, we specialize in different types of insurance, including commercial insurance as well. Visit our office or give us a call today.
At Valor Insurance in Easton, PA, we’ve walked plenty of experienced and new business owners through the process of obtaining commercial insurance over the years. One of the most common questions we receive is about whether Pennsylvania legally requires every business owner to obtain commercial insurance.
Since it can be costly to possess less than the minimum commercial insurance requirement and even cause legal problems, you’ll want to review the laws surrounding commercial insurance for business owners if you operate a business in Pennsylvania.
What is commercial insurance?
Simply put, commercial insurance is a form of protection for businesses that can cover liability, property protection, theft, and more. As you can imagine, it’s a vital source of emergency expense coverage for many business owners across the United States.
Even if it’s not legally required in your state or for your specific circumstances, it’s good to have commercial insurance if you own a business. It ensures that you’ll be able to handle almost any emergency financially as a business owner. That kind of peace of mind pays for itself.
Does Pennsylvania legally require all business owners to have commercial insurance?
At a minimum, Pennsylvania law requires businesses that have employees to hold worker’s compensation insurance, which is a type of commercial insurance that helps cover worker’s compensation expenses. If you have a company car, you may also need to purchase commercial auto insurance to meet minimum legal requirements.
Certain types of businesses such as home-based businesses may want policies that cater to home-based businesses. While commercial insurance isn’t always legally required in Pennsylvania, it’s almost always recommended to protect small businesses and large ones from financial devastation.
Contact Us Today
To protect your business, call Valor Insurance in Easton, PA today.
As a business owner, it’s important to take the necessary steps to prepare for an incoming storm. Here are some tips from us at Valor Insurance to help you get your Easton, PA area business ready.
Tips to prepare your business for a storm
1. Create a plan of action
Before a storm hits, create a plan of action that outlines what measures you’ll take before, during, and after the storm. This should include tasks such as moving items away from windows and doors, stocking up on supplies, and having an evacuation plan if needed.
2. Back up your data
Make sure all important data is backed up in case of any damage or power outages. Data can be backed up onto portable hard drives or cloud storage services such as Google Drive or Dropbox.
3. Protect your electronics
Unplug any sensitive electronics that power surges may damage during the storm. If possible, keep them away from windows and other areas where water could enter in order to protect them from damage.
4. Prepare for flooding
Clear debris away from your building’s foundation and seal any cracks in the walls or flooring that could let in water during a flood. You should also have sandbags ready to help prevent flooding into your building if needed.
5. Have emergency kits on hand
Keep emergency kits stocked with items such as flashlights, batteries, fresh water, non-perishable food items, first aid supplies, and anything else you might need in case of an emergency situation due to the storm.
We Are Here To Help!
By following these tips, you can ensure that your business is prepared for an incoming storm and will stay safe throughout it! For more tips, call us at Valor Insurance today. We proudly serve the Easton, PA area.
Commercial insurance is a type of insurance that covers businesses from certain types of liability and financial loss. There are many different types of commercial insurance policies and types of businesses that can be insured. In general, commercial insurance is meant to protect a business and its employees from liability risks and financial losses that are not covered by standard personal lines policies. Valor Insurance in Easton, PA is here to assist with this vital coverage.
What commercial insurance covers
Commercial insurance covers many different risk areas, including those related to damage to property, employee injuries or workplace safety, product liability and product recall claims, natural disasters such as fires or earthquakes, environmental risks like pollution or toxic spills, legal liabilities for professional services such as malpractice or errors made by an accountant or lawyer, cyberattacks on computer networks with sensitive data stored in the cloud, government prosecution for noncompliance with employment laws like minimum wage requirements, and even lawsuits from customers who purchase products from your business but are dissatisfied with their experience.
In order to protect your business from these types of risks and losses, you will need to purchase different types of commercial insurance policies. The first type of policy you should consider purchasing is a general liability or commercial liability coverage. This covers several different areas of potential liability, including product-related claims for damage done during shipping or any injuries caused by the product once it has been sold and used by a customer.
Another part of this policy may cover lawsuits filed against your business if a customer purchases products or services from your business but later becomes unhappy with their experience or complains about poor workmanship on materials provided by your company.
Give Us A Call
For more information on commercial insurance, call Valor Insurance today. We proudly serve the Easton, PA area.
Commercial insurance is a vital part of any business. It can protect your company from financial losses in the event of an accident or disaster. There are many types of commercial insurance, each offering different benefits. In this article, we’ll discuss the most important benefits of commercial insurance.
Commercial Insurance Helps You Meet Your Regulatory Requirements
In some industries, having commercial insurance is a regulatory requirement. For example, companies that transport goods or provide certain services may be required to have insurance to operate. Not having the required insurance could result in hefty fines or even the loss of your business license.
It Can Give You Peace of Mind
Running a business can be stressful, and there are always potential risks lurking around every corner. Having commercial insurance can help give you peace of mind knowing that your business is protected in the event of an accident or disaster.
No one likes to think about what could go wrong, but it’s always better to be prepared. Commercial insurance can help you sleep better at night, knowing your business is protected.
Commercial Insurance Can Help You Attract and Retain Customers
In today’s litigious society, many customers will only do business with companies with adequate insurance coverage. They want to know that in the event of an accident or disaster, they won’t be left high and dry.
Having commercial insurance from Valor Insurance in Easton, PA can help you attract and retain customers. It’s another way to show them that you’re a responsible business that takes its obligations seriously.
Contact Us Today
So, there you have it! Those are just a few of the benefits that come along with getting commercial insurance for your business. Valor Insurance in Easton, PA can help get you the coverage you need to protect your business from any number of potential risks. Give us a call today to learn more about what we can do for you.
Business owners who operate in the Easton, PA area will continue to find that the area offers a great chance to succeed. The area supports local businesses and has a strong and consistent population base. As you are looking to start a company, it would be wise to get the right insurance.
Valor Insurance recommends a commercial insurance plan.
Comply with Insurance Obligations
An important reason to get a commercial insurance plan is to comply with any obligations you have when it comes to coverage. Businesses all over the area will likely have some form of obligation for coverage. If you have a business loan, lease a building, have investors, or enter into certain vendor agreements, you will almost certainly be required to carry a full commercial insurance plan.
Protect Viability of Business
You should also obtain a commercial insurance plan to protect the viability of your business. If you intend to start a business, you will want to know that you are protected against the unexpected. A great way this is done is by getting a commercial insurance plan. You can cover all core business assets and reduce your liability risk with the right coverage. This will ensure you have support if you incur a loss or are named in a liability claim.
Businesses that are in the Easton, PA area will want to know that they are always properly protected with insurance. Once you are ready to start looking for a plan, working with Valor Insurance can be a good idea. Our team understands the value of commercial insurance and will offer the ongoing support that you need to build a proper policy.