Commercial Insurance Explained

If you are thinking about starting a business in Manchester, CT, you need to think about commercial insurance from Brent Young Agency LLC. While you may have the business acumen, when it comes to matters of risks, you can’t predict their occurrence with certainty. It’s for this reason you need insurance to cushion your business when the unthinkable happens.

But because we know that not everyone is familiar with commercial insurance, we have taken time to ensure you understand commercial insurance basics. Here is what you need to learn about commercial insurance.

Is commercial insurance mandatory?

Yes, some aspects of commercial insurance are compulsory in Connecticut. If you have commercial vehicles, you are required to purchase commercial auto insurance. Similarly, if you have workers, you must invest in worker’s comp insurance.

Are there optional commercial insurance coverages?

Commercial insurance is broad — there are many options to consider for your business. Here are the most common commercial insurance coverages:

  • General liability insurance: This coverage protects your business when accused of bodily injury, property damage, and advertising injury. Furthermore, this policy protects you when sued.
  • Commercial property insurance: If you have business assets, you must invest in commercial insurance to protect your valuables against perils like fire, theft, vandalism, and natural disasters.
  • Cyber liability insurance: Because of the rising cybercrime activities, you need cyber liability insurance to protect your business when faced with online attacks.
  • Umbrella insurance: If you want extra liability protection, you need to invest in umbrella insurance to protect your business when faced with significant liability claims.
  • Flood insurance: Since typical commercial insurance doesn’t protect your business against floods, you need a stand-alone flood insurance policy to protect your business.

Would you like to learn more about commercial insurance? Don’t hesitate to contact Brent Young Agency LLC for more information. Better yet, you can pop in our Manchester, CT offices to speak to one of our agents.