Under state law, every business that has employees needs to purchase workers compensation coverage. This insurance is available through licensed insurance carriers such as Jillian O'Brien Insurance, or through the state's insurance fund. Sole proprietors and partners don’t need to purchase this type of coverage. Workers comp covers your employees if they are injured at the workplace and provides them access to medical care and helps cover their medical expenses. It not only protects the employee but also the business owner from suffering from financial ruin due to these expenses. If you have a company vehicle then you must also have commercial auto insurance. Commercial auto insurance will be similar to a personal policy and covers accidents you or an employee cause.
Optional Commercial Insurance Offerings in Pennsylvania
Each business is going to have a unique set of risks that business owners will need to insure against. This means each business may need different insurance options besides what is required.
General Liability Insurance: This coverage is broad and can help protect the business from claims caused by property damage, bodily injury, advertising errors, and reputation harm. It can be included as a standalone policy or as part of a Business Owners Policy. Claims can be made against a business even if the business did nothing wrong so it’s important to stay protected.
Property Insurance: Whether you own or rent business property, this policy is important. It can cover the business if the property is damaged by a windstorm, fire, or lightning. Owners can also tailor policies for their unique set of risks. It also covers your inventory and equipment.
Business Owners Policy: A business owners policy will combine general liability insurance with property insurance into one policy. This is ideal for small business owners.
Business Interruption Insurance: This insurance will help cover lost income and other expenses if the business is affected by a covered loss. It can cover revenue, loan payments, taxes, payroll, and relocation.
Contact Jillian O'Brien Insurance to get a quote on commercial insurance.
While our office is located in Pennsylvania, we are licensed in the following states: Colorado, Connecticut, Delaware, Florida, New Jersey, Pennsylvania, Virginia, West Virginia, Utah, and Texas.