It isn’t easy to be a business owner. Business ownership comes with many risks and challenges. Having the right commercial insurance policy can minimize the effect of those risks. But how do you know you have the right amount and type of commercial insurance? In Emmaus, PA, you can talk to Patrick McNealis Insurance and Financial Group, your local independent insurance agency. We take the time to get to know our clients, and we will go above and beyond to make sure your coverage is fitted to your needs.
In Pennsylvania, if you have any employees, you must have Workers’ Compensation Insurance. It doesn’t matter if they are full or part-time or seasonal. This even applies to family members such as children or a spouse. Employers may opt for self-insurance but must show financial ability to meet payments as required under the Workers Compensation Act.
Commercial Auto Insurance must also be carried on any vehicles owned by the business. It is a bad idea to use personal vehicles and insurance to do business since your insurance may exclude business use.
Those are the required commercial insurance in Pennsylvania, but some other commercial insurance lines are recommended for just about any business. Commercial property and liability coverage can save your business if a covered peril strikes. Commercial Property Insurance protects the building if you own it. It is still worth it if you rent it since it covers what is inside the building, your machinery, inventory, raw material, office equipment, and records. Commercial Liability Insurance protects you from legal action. It can pay for legal expenses and a judgment against you. The world is a risky place, and small businesses are at greater risk, with a 53% chance of being involved in legal action.
Contact Patrick McNealis Insurance and Financial Group in Emmaus, PA for all your insurance needs.