Small Business Insurance Commercial General Liability Insurance Las Vegas Nevada

 



Chris The Insurance Man

3535 Executive Terminal Drive #110

Henderson Nevada 89052

702.763.3590



Creating a small business is an exciting task that will create wealth for generations to come. Planning any business require thought, detail and action. Understanding the type of business and your key market will serve as the base for your business. Considering employees, payroll, business licensing and insurance are vital business aspects. Retail businesses, contractors, professional regulated industries typically are required by law to carry a business insurance policy.


Below I will outline several small business insurance policy options.



Liability Insurance

Liability insurance is designed to protect a business from client and employee law suites. A plumber is hired to fix a leaky pipe. Six months later the house is flooded resulting in negligent work by the plumber. An employee endures an ankle injury at a local bakery. The injury occurred from spilled cake batter in the kitchen. These instances are examples of client and employee litigation. Anyone can sue your business resulting in financial ruins. Liability insurance will help eliminate costly legal payouts.



Business Property Coverage

Theft is an unfortunate part of business. Entrepreneurs invest thousands into equipment used for services or product creation. Burglaries are common in retail establishments. Stealing equipment is well known in contractor businesses. Including business property coverage is recommended for all small business insurance policies.



Workers Compensation

Revisiting the liability insurance example, I mentioned an employee enduring an ankle injury. While pursuing legal recourse, the injured employee must sustain financial stability during his or her inability to perform normal job functions. Workers compensation is a business insurance policy endorsement designed to provide income to the injured employee while immobilized. Workers compensation typically is required by law.



Commercial Auto

Vehicle insurance is required for automobiles used for business purposes. Businesses can elect one of two options. Purchase a commercial insurance auto policy to cover business owned vehicles or add an endorsement that will cover personal owned autos used for business purposes. Remember, your personal auto insurance will not cover a claim that is related to your business. For example, an insurance company discovered an accident occurred while Jim was traveling to his bank for a commercial deposit. Most insurance companies will deny the claim.




Professional liability 

Like regular liability insurance; professionals such as realtors, consultants, online marketers, insurance agents, financial professionals, lawyers, are subject to litigation should a client feel they were misguided with information.



Umbrella Coverage 

Imagine having an extra insurance policy in addition to a small business insurance policy. An umbrella endorsement will enhance the primary policy’s coverage limits. For example, a claim exhausts the $1,000,000 primary policy limit. The umbrella endorsement will add an additional $1,000,000 as a backup.




Small business insurance policies can be complex if one isn’t educated. As a business owner, we recommend sitting down with an insurance broker that will shop carriers and educate you about business insurance options. Every business require different endorsements and coverages. Should you require assistance please call us at 702.763.3590




Small Business Insurance Commercial General Liability Insurance Las Vegas Nevada

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