Commercial insurance is a must for any business owner that has any business of any size. Though smaller in home businesses are often covered on your homeowner’s policy, for those that have larger businesses and even storefronts, it is essential that they have a larger, commercial policy in place. For those in the Wheat Ridge, CO area, the agents with CO Insurance Specialist can help you find the policy that fits your needs.

So what are some of the numerous benefits of commercial insurance?  The first is that you can protect your inventory, employees, building, and property all at the same time while making sure your home and personal assets are also protected. This means that even if something happens to your business, or if you are sued, or if an employee is injured or a patron is injured, you are protected. This is essential for those that have a business and a home as well as personal assets to help make sure that your personal life stays separate from your work life and that you can recover from events that may transpire.

For those that do own a business, commercial insurance can not only protect you, it can also protect your business. Inventory is expensive as is paying medical bills should someone get injured on your property. It is also important to remember that if something like a fire or a natural disaster ruins your store, you are going to have to replace not only inventory but the building itself. Commercial insurance works as a safety net of sorts that can help you to be sure you are going to be safe no matter what.

For those that live in the Wheat Ridge, CO area, the agents with CO Insurance Specialist can help you find your perfect policy.

Many business owners purchase a property or business liability policy and assume they are adequately covered. However, failing to buy a business interruption policy, a business may not be able to survive a severe loss.

When a business suffers a loss such as damage from a fire or a storm, the business may not be able to operate at full capacity if at all. In addition, the company may incur additional expenses such as moving to a temporary location within the Wheat Ridge, CO area. While your property coverage will cover the cost to replace the damaged property, a business interruption policy will help your business cover expenses and any additional costs you occur as a result of the loss.

If your business can be back up and running at 100% capacity quickly then you should speak to your insurance agent st CO Insurance Specialist about gross earnings or limited coverage. Gross earning coverage pays for expenses up until the day you start operating again and does not take into consideration pre-loss income levels.

If your business does not have a financial cushion or it would take a long time to get back up to pre-loss income you should consider extended coverage. Extended coverage will cover you until you are back up to your pre-loss revenue levels. Of course, there is a time limit, and coverage will end after a certain period.

There are also add on coverages such as payroll, accounting fees and contingency coverage options available.

No matter what type of business you operate,  you should make sure you are covered for expenses in the event of a loss. A specialist at CO Insurance Specialist can meet with you to review your business operations and help you decide what type of business interruption policy will work for your business. We proudly serve the Wheat Ridge, CO area.

Buying commercial insurance for your startup business in Wheat Ridge, CO can be a challenge. At CO Insurance Specialist, we recognize the importance of getting accurate insurance coverage to protect your assets in Colorado. Here are a few tips to help guide you through the insurance process.

Assess Your Risks

Before you decide on insurance coverage, you need to assess your risks as a business. This will help you determine the type and amount of coverage you need. By consulting with a CO Insurance Specialist agent, you can get a better picture of how specific policies can work on your behalf as well as how you can save money on your premium without compromising your coverage.

Educate Yourself about Insurance Types and Coverage

As a new business owner, it’s imperative you become familiar with commercial insurance options and costs. A commercial insurance package may include coverage for liability, property damage, business interruption, workman’s compensation, and more. By understanding your options, you can obtain personalized coverage geared to your specific needs.

Shop Around

Commercial insurance coverage and costs vary from one company to the next. Shopping around gives you a better picture of what different insurers have to offer. Keep in mind that insurers that specialize in your type of business may offer better coverage at competitive costs.

Don’t Compromise Coverage for Costs

Be leery of compromising insurance coverage for a low price. By doing your homework, you can find an insurance package to adequately protect your business at a cost you can afford.

Work with a Reputable Broker

Working with an experienced broker can alleviate the confusion and stress of finding commercial insurance for your small business. At CO Insurance Specialist, we’re committed to helping small business owners in Wheat Ridge, CO obtain the comprehensive insurance coverage they need at affordable costs. Reach out to our agents to learn how to get started.

We at CO Insurance Specialist have seen too many promising hotels close due to poor insurance coverage. Many new Wheat Ridge, CO hotel owners don’t understand the importance of proper hotel insurance and how it can benefit their business in a major way.

Liability Insurance Is Crucial

When you run a hotel, you are constantly under the threat of something happening to one of your guests. For example, they may fall and crack their head near your pool. General liability insurance helps protect you in these serious cases and provides you with the comfort you need to know your business won’t close down due to a silly accident.

Medical Insurance

Your employees deserve high-quality insurance for their healthcare needs. There are many commercial insurance policies that you can purchase to protect them. These group policies may even be tweaked for specific hotel needs. As a result, you need to talk to your insurance specialist right away to learn more.

Disability And Unemployment Policies

These types of insurance policies are necessary for hotel owners because they protect them when their employees are unable to work. For example, unemployment insurance helps pay partial wages when workers are laid off during the slow times of the year.

Cyber Insurance

Does your hotel have wireless internet for your customers? Or maybe you have an online booking portal that you rarely think about running? If so, you need to get cyber insurance right away. These policies ensure that the dangers of hacking are minimized for you and your guests.

Keeping Your Hotel Safe

If your Wheat Ridge, CO needs the kind of protection we mentioned above, then contact us at CO Insurance Specialist. Our specialists will find policies that work for your needs and help you find one that won’t cost you too much money.

If you own a small business, commercial insurance is a must to protect your assets. Commercial insurance coverage from CO Insurance Specialist in Wheat Ridge, CO, can protect you against unforeseen catastrophes such as fire, theft, vandalism and natural disasters that can hinder you from building a successful enterprise. Here are three ways commercial insurance can protect your small business.

Commercial Liability

Commercial general liability coverage protects you against accidents that may cause property damage or injuries to others while on your business property. This same coverage provides protection against lawsuits that may arise as a result of an accident, so you don’t suffer financial loss.

Business Property Insurance

You can’t keep disasters from happening to your business but you can be prepared to handle the fallout with business property insurance. This coverage protects your building, inventory, and equipment against the risk of theft, damage or loss due to fire, storms and other natural disasters. If you have a large inventory or own your place of business, business property coverage is a good way to protect your assets. This coverage enables you to get back on your feet quickly after disaster strikes so you don’t lose momentum in growing your enterprise.

Business Interruption

Business interruption coverage can be a lifesaver if you have to close your business temporarily due to an unforeseen event that causes extensive damage or loss. Business interruption helps cover the loss of income, employee wages, rent payments (if you rent your building) and even the cost of relocating your business temporarily while you are recovering from a disaster. Business interruption provides much-needed funds to keep your business alive during the interim period of repairs.    

For more information on commercial insurance and how it can benefit your small business, contact us at CO Insurance Specialist, Wheat Ridge, CO.