Business & Commercial Insurance
Business & Commercial Insurance Quote Forms
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Business & Commercial Insurance Information
Licensed in Maryland, Delaware, Pennsylvania, Ohio, West Virginia, North Carolina, Tennessee, Washington DC and Virginia
The corridor between Washington, DC and Baltimore is one of the busiest commercial zones in America. Both small businesses and multi-national brands thrive in this area due to its proximity to the nation’s capital and easy interstate connections to economic centers in both the south and northeast.
No matter whether you are a new or seasoned a business owner, who your customers are or what liabilities are present through your operations, you need to be able to rely on the security provided by a strong commercial insurance portfolio. Customized benefits will make sure you can afford the costs that might arise from unexpected problems without putting your business’s security on the line.
Halkos Insurance Agency is the place to come for commercial benefits that are valuable, easy to manage and customizable to fit your risk management portfolio. To find your policy solutions today, just call us at 301-206-5464 or request a quote online now.
Common Business Insurance Questions:
How Does Business Insurance Work?
There are numerous liabilities associated with owning and operating a business. These might include lawsuits, employee injuries, property damage from storms or fires, company vehicle accidents, acts of theft or vandalism, and more. They might all prove expensive, challenging events. Still, if you have business insurance, you will have a way to afford these challenges without putting your hard-earned assets on the line.
What Does Business Insurance Cover?
All in all, commercial insurance will safeguard your company assets in case of unexpected or unavoidable problems that could still prove very costly. With the right benefits, you’ll be able to keep your company solvent while still solving the problems in front of you.
There are numerous policies within the business insurance marketplace. Essential coverage that you might need includes:
- Property Insurance: If something damages physical property – such as your building or possessions - then this coverage can help you repair or replace them.
- General Liability Insurance: This covers the business in the event it causes property damage or bodily injuries to another party, like a client or vendor.
- Business Interruption Insurance: This helps you pay the bills if you must temporarily close after a damaging accident.
- Commercial Auto Insurance: When the company owns vehicles, this coverage will provide the requisite physical damage, liability and other benefits to help the company afford the costs of wrecks or other vehicle hazards.
- Workers Compensation Insurance: If an employee gets hurt on the job, they are often eligible for workers compensation coverage. It will provide them supplementary income during their recovery.
- Errors & Omissions Insurance: Professional advice or mistakes could cause clients a financial loss. This coverage can compensate them on behalf of the business.
- Surety Bonds: If you are contractually obligated to certain clients, then bonds will guarantee them that you will repay them if you cannot meet your obligations.
However, because your business is unique and liabilities are often industry-specific, you can include other, more customized benefits in your portfolio, such as:
- Inland Marine Insurance
- Employment Practices Liability Insurance (EPLI)
- Products/Completed Operations Liability Insurance
- Cyber Liability Insurance
- Umbrella Liability Insurance
- Hired/Non-owned Auto Liability Coverage
What Business Insurance is Required by Law?
Multiple regulations could require you to buy different benefits:
- Most Maryland businesses must buy workers’ compensation insurance.
- Commercial auto insurance is required for drivers operating on public roadways. Special liability benefits might be required of commercial truckers or passenger services.
- Contractors usually must purchase surety bonds before they can bid for projects.
- Specialty benefits like liquor liability insurance, might be required depending on your industry.
To learn more about your coverage requirements, just speak to one of our agents.
What is the Best Insurance for a Small Business?
Small businesses might have fewer employees, but they are not immune to liabilities and they cannot afford to spend an arm or a leg on their business insurance essentials. One of the best ways for them to keep their benefits cohesive and affordable is to buy a Business Owners Policy (BOP).
BOPs offer essential business insurance coverage—property, general liability and business interruption coverage—in one package. The terms within are designed to meet the coverage needs of small businesses, and BOPs are usually more affordable than piecemeal coverage. They are still customizable, and you can add endorsements to them to further enhance your benefits.
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