There are many forms of commercial insurance that you may need to protect your business. The types you should have depend on the kind of business you have, whether you have employees, the physical presence of the business, etc. Call us at Renee Oliver Insurance Agency Inc. in Silver Spring, MD to get your commercial insurance policies. 

Worker’s Compensation Insurance

Known widely as worker’s comp, this type of insurance pays for the costs associated with an employee who gets injured or sick at work. A work-related illness or injury from an accident can be costly, and they can often entail lawsuits. The policy pays for these expenses with this type of insurance, so your business doesn’t have to shoulder them. Accidents can cause serious problems for an uninsured business. If you have employees, you need this type of commercial policy. 

Premises Liability Insurance

These policies are critical if your business has a physical presence in which someone could be hurt. Even if there’s nothing there that’s dangerous, anyone could be injured. That means employees, customers, and the public. Just in case you need this policy to protect your business against lawsuits. 

Commercial Auto Insurance

If your business is a vehicle’s registered owner, that vehicle must have a commercial auto insurance policy. If the business owner has a personal policy on a work vehicle, that insurance company won’t pay for any costs associated with an accident. This is especially true when the accident happens while the work vehicle is engaged in business activities. Always have a commercial policy on these vehicles for your protection. 

Get Commercial Insurance 

You can talk to us about your specific business and the types of policies it may need. Call us at Renee Oliver Insurance Agency Inc. in Silver Spring, MD. 

When it comes to insuring your business in Silver Spring, MD, there are some commercial policies that will benefit every business and some that will benefit certain types of businesses or industries. Even if you are just starting out, it’s imperative to get the right insurance for your business.

General liability insurance is recommended for every business since it provides protection against common customer incidents, such as property damage, bodily injuries, or advertising injuries. Any accident can lead to big legal bills, which is why this policy is so important to have. Other liability policies can also be needed, such as professional liability insurance if you provide professional services to clients. 

The risk for your business will determine what other policies you need. An agent at Renee Oliver Insurance Agency Inc. can help you determine your risks and the best policies for your business. If your business has valuable property then you may want commercial property insurance, since this covers your physical assets against damage or loss. If you have a small business and are in a low-risk industry, you may be able to bundle commercial property insurance with commercial liability in a business owner’s policy. These two policies address just the bare bones but it’s important to consider your location, operations, and industry when building a policy.

If you have employees, you will want to have workers’ compensation insurance and it’s required for businesses in Silver Spring, MD. Workers’ comp insurance will cover on-the-job employee illnesses and injuries. If you have business-owned vehicles then you should have commercial auto insurance. If you have a large online component for your business then cyber liability insurance can protect you from costs associated with data breaches and can cover notification costs, legal expenses, and credit monitoring. 

Contact Renee Oliver Insurance Agency Inc. to get a quote for commercial insurance. 

If you are the owner of a Maryland business, you need to have certain commercial insurance policies to protect your business. There are two types that the state requires of most businesses in the state. If your company meets the requirements for one or both of these insurance policies, it’s important to get it right away so that you aren’t hit with fees and fines. Give us a call at Renee Oliver Insurance Agency Inc. in Silver Spring, MD.

Workers’ Compensation

In Maryland, every business that has at least one employee must have workers’ compensation insurance, even if it is just one part-time employee. With this coverage, you and your employee are protected against the costs associated with an accident or illness that an employee has at work. It protects you by paying for the medical bills and lost wages that are needed after an employee accident. It protects your employee by making these funds available when they are needed, so there’s no need for the employee to sue your company. There are a few exceptions to this rule, so talk to an agent about whether this coverage is required for your business.

Commercial Auto

If your Maryland business owns a vehicle, that vehicle has to have a commercial auto policy on it. This is mandated no matter what the type of vehicle it is. The policy must have a certain minimum amount for bodily injury liability for one person who is injured and a different amount for all of the bodily injury liability from an accident. There is also an amount required for property damage liability. 

Protect Your Business

To get the types of commercial insurance policies that you need, and some that aren’t required, give us a call at Renee Oliver Insurance Agency Inc in Silver Spring, MD.

Starting a business is a dream that a lot of people share. At the same time, it continues to be a big responsibility that requires a lot of thought and preparation. One part of owning a business is choosing a commercial insurance policy. There are several reasons why choosing the right commercial insurance policy for a Silver Spring, MD business owner is such a big decision.

Insurance Could Keep Business Solvent

An important reason you will need to have commercial insurance is to keep your business solvent. As a business owner, it is important to prepare for anything. Unfortunately, a lot of risks and issues are out of your control. Due to this, you should get a commercial insurance policy to keep your business solvent if there is an incident that results in a liability claim or damaged property.

Having Insurance is Often Required

A Silver Spring business owner is also often required to carry insurance at all times. Businesses that take out financing, hire employees, lease a building, or even raise capital will have certain insurance needs that should be met at all times. When you get a proper insurance policy, you can stay in compliance with all requirements. 

Choosing the right commercial insurance policy is very important for anyone that owns a business in the Silver Spring, MD area. If you are looking to start a business or evaluate your insurance needs and options, you should reach out to the team at Renee Oliver Insurance Agency Inc. When looking for a policy, it is easy to be confused by your business’s options and needs. Fortunately, Renee Oliver Insurance Agency Inc. can simplify this for you and help you choose a quality policy.