Owning your own business can be one of the most fulfilling things you’ll ever do, but it can also come with some serious risks and consequences if you aren’t prepared. One of the best ways to protect yourself and your business is by purchasing commercial insurance, which will help guard you against potential lawsuits, property damage, and much more.
Before buying commercial insurance in Bloomfield, NJ, here are some things you should know.
Why Do I Need Commercial Insurance?
While every business is different, there are a few common reasons businesses need commercial insurance. Firstly and most importantly, you want to be protected against significant lawsuits (and liabilities) that could cost you and your business money.
While many people think of burglary or theft when they hear about business insurance, legal coverage is generally the first thing that comes up. After all, if someone falls on your property and breaks their leg, it will cost you money, even if it’s not your fault.
The best way to cover yourself for these types of incidents is by purchasing commercial insurance from E.S.T.I.R. Inc. Our agents can help you find a policy that will keep your business protected if something like that happens.
Choosing the Right Company For Your Commercial Insurance
It’s hard enough getting your business off the ground. You don’t want to waste time and energy dealing with a company that can’t handle your needs.
E.S.T.I.R. Inc is an insurance agency that offers commercial insurance for New Jersey businesses and professional insurance plans for individuals and families living or working in Bloomfield, NJ area. Give us a call at 609-688-1800 to look at what we offer today!
There are several risks facing your business if you are in the construction industry. Your business is never safe from employee injuries and theft of materials to lawsuits. While you can devise several risk mitigation strategies, contractor insurance is an investment you can use to cushion your business big time.
Are you thinking about contractor insurance in Bloomfield, NJ but haven’t decided yet? Here are reasons you should invest in contractor insurance as advised by E.S.T.I.R. Inc.
- Liability protection: During the course of your contractual work, you can cause bodily injury or property damage to others. For instance, you could be sued if you are doing paintwork and the paint spills on the customer’s expensive sofa. Luckily, contractor insurance will help cover the legal and settlement claims.
- Employee protection: As you can imagine, employee injuries are likely to happen during construction or repairs. For instance, one of your staff may fall off the ladder while painting, breaking their arm. Worker’s comp insurance should cover the medical expenses for such injuries.
- Builders risk coverage: This policy protects the house under construction or renovation against perils like fire, theft, damage, etc.
- Protects your assets: Suppose you are undertaking repairs for a client. Fire ravages the building, destroying the roofing materials. In such a case, your contractor’s insurance should cover the damage.
- Professional indemnity coverage: If you are sued for negligence, incomplete work, or missed deadlines, this coverage should cover the legal and settlement costs. For instance, when you fail to deliver your construction project on time, the client can sue you for missed revenue. It’s in such cases that contractor insurance comes to your rescue.
Are you interested in learning more about contractor insurance? Please get in touch with E.S.T.I.R. Inc. Even better, you can visit our Bloomfield, NJ office to chat with one of our agents.