Category: Commercial Insurance

Being a business owner in the Chesterland, OH, area could be a great idea. If you would like to start a business here, it is important that you are diligent and careful when establishing your organization. At the same time, you must ensure you have proper insurance. There are many things to consider while building a commercial insurance policy. 

Assets That Need Coverage

You should spend time thinking about the assets that need to be covered. A commercial business today could own various types of equipment, real estate, inventory, and even office furniture that are necessary to run a business. When adequately insured, you will have coverage to replace these items if you incur a certain type of loss. 

Liability Risks

It would be best if you also thought about your commercial liability risks. When you run any business, there will always be a chance you could make a mistake that results in injury or illness to another party. In these situations, as well as others, you can be held liable. If you are insured the right way, you will receive support in these situations. 

Obligations

It would be best if you considered your personal and business obligations regarding insurance. Your business will likely involve many stakeholders, including investors, customers, vendors, and lenders. Each entity will want you to be adequately insured and could require it in certain agreements. 

Insurance is crucial for any business in the Chesterland, OH, area. When you are ready to shop for a new plan, contact us at M & M Insurance Group. At M & M Insurance Group, you will receive any guidance you need to create a plan. 

No matter how profitable your business is, you need commercial insurance to ensure its continued financial stability. A single lawsuit or accident involving extensive property damage can put your entire operation at risk. Fortunately, commercial insurance can protect you from these and other problems that may arise. Meet with the team at M & M Insurance Group in Chesterland, OH to find out how to safeguard your business from the unthinkable.

What Is Commercial Insurance?

Commercial insurance covers losses due to events written into your policy. This frequently includes lawsuits, natural disasters, and business interruption. However, you can work with your agent to find the right coverage for your business. We’d be happy to review your existing policy to identify opportunities to save money or enhance your commercial coverage.

Financial Protection When You Need It Most

Commercial insurance transfers the risk of covered events from your business to your insurance company. This often includes assuming the financial burden for lawsuits, employee injuries, and covered damages. Additionally, you’ll pay a premium that remains stable each month. This allows you to budget your insurance cost prudently.

You’ll feel better knowing that your business is protected. You can save yourself a lot of stress and focus on running your operations. Further, with the right commercial insurance protection, you can look out for the well-being of your employees.

Mandatory Coverage Compliance

If you work in an industry that requires general liability or other types of insurance, it pays to work with an experienced agent who can help you make informed decisions. As well as assisting with mandatory coverage compliance, commercial insurance may help you meet the contractual requirements of certain vendors and clients.

From data breaches to professional liability to specialized coverage, we have you covered. One of our friendly agents can explain how commercial insurance can help you manage your risk. Reach out to M & M Insurance Group in Chesterland, OH today to set up an appointment for a free quote.

The M & M Insurance Group agents serving the Chesterland, OH area want you to know how important commercial insurance is for your business.

Is Commercial Insurance Required in Ohio?

The answer is yes. There are two types of commercial insurance you must have in place in Ohio for your business. Those two types of insurance include commercial auto insurance and workers’ compensation insurance. Read on for more information on both of these types of insurance policies.

Commercial Auto Insurance 

In Ohio, all drivers must have at least a liability insurance policy to drive on public roads and highways legally. This includes any autos used for your business or owned by your business. This type of policy will provide a minimum amount of liability insurance if a vehicle for your business is involved in an accident.

Workers Compensation Insurance

All Ohio businesses that employ one or more full or part-time employees must have a workers’ compensation insurance policy in place. This will help pay the medical bills and lost wages of any employee injured or sick on the job.

Other Coverage Options for Commercial Insurance

Commercial Liability Insurance Coverage

Commercial liability insurance is critical for you to have to protect your business and yourself. For example, if someone falls at your business and is injured, it will help pay their medical bills. It can also protect you if the person decides to file a lawsuit. Commercial liability insurance coverage will also be useful if you are sued for slander, libel, or copyright infringement.

Commercial Property Insurance

You never know when a natural disaster will occur, a fire, or even an act of vandalism, so you want to be prepared. Commercial property insurance will help protect not only the building that your business is located in if you own it but your inventory as well. This policy will also help you if someone steals items from your business.

Contact M & M Insurance Group

To start your commercial insurance policy for your business, contact the experienced and knowledgeable agents at the M & M Insurance Group serving the Chesterland, OH area today!