You work hard to grow your business. Whether it’s significant cash you invested or the time spent building a continuously profitable business, you know the need to protect your investment. One of the best ways to do this is to get commercial insurance. Many business owners in Illinois have little knowledge about this policy and its unlimited options.
If you’re looking for ways to protect your business from financial losses, you may want to look at what commercial insurance offers. Allied Advantage Insurance Services is here to help you learn more about it and get the necessary coverage.
What is Commercial Insurance?
Also known as business insurance, commercial insurance helps protect your business from losses due to unexpected events during normal business operations. There are many types of commercial insurance for businesses, most of which apply to most businesses.
Who Needs Commercial Insurance?
Commercial insurance is not mandatory in Illinois. However, employers with employees are required to have worker’s compensation. Most commercial insurance coverages are designed to protect various aspects of your business. That’s why it’s worth buying general liability insurance, commercial auto insurance, workers’ compensation, and many others.
Commercial Insurance Coverages Every Business Owner Should Have
Since there are many types of business, there are also many types of commercial insurance. You can speak to your insurance advisor to help you choose the most crucial options for your business. Coverages include:
- Commercial auto insurance: Protects you and your employees when driving business-owned vehicles.
- General liability insurance: Pays legal fees and other claims when someone is injured on your business property.
- Commercial property insurance: Protects business-owned buildings and equipment used to operate a business.
- Workers’ compensation: Provides employee benefits if they get injured while working in your business.
- Professional liability insurance: Protects businesses that provide services by paying for expenses and lawsuits related to errors, omission, negligence, or malpractice.
Need commercial insurance in Illinois? The Allied Advantage Insurance Services team is happy to help you choose the right coverages for your business. Contact us today for more information.