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Bloomsburg, PA 17815

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How To Choose the Right Commercial Insurance for Your Company

Like most business owners in Bloomsburg, PA, you know that having the right commercial insurance is important. But with so many options available, how do you choose the right policy for your company? The Good Insurance Group LLC is here to help. We offer a wide range of commercial insurance policies from some of the leading providers in the industry. And we’ll work with you to find the policy that best meets your needs and budget. Here are a few things to remember when shopping for commercial insurance.

The Type of Business You Operate

The first step in finding the right commercial insurance policy is to determine the type of business you operate. Are you a manufacturing company? A retail store? A service provider? The business you operate will significantly impact the risks you face and the coverage you need.

For example, manufacturing companies will need product liability insurance to protect against claims from products they produce. On the other hand, service companies will need professional liability insurance to protect against claims arising from their services.

The Coverage You Need

The types of coverage available vary depending on the insurer, but most policies will offer some combination of property damage, liability, workers’ compensation, and business interruption insurance.

You’ll also want to consider optional coverage, such as product liability or professional liability insurance, depending on the type of business you operate.

The Cost of Coverage

The cost of commercial insurance will vary depending on the size and type of business you operate, the coverage you need, and the insurer you choose. Compare rates from multiple insurers to ensure you get the best possible price.

The Good Insurance Group LLC in Bloomsburg, PA can help you find the right commercial insurance policy for your business. Contact us today to get started.

Should I get commercial insurance for my company?

Owning a company in the Bloomsburg, PA area is a great option for anyone who dreams of being a small business owner. If you would like to own a property in this area of Pennsylvania, it continues to be very important that you properly protect it with insurance. There are several reasons why you should get a commercial insurance policy when you are trying to build and manage your company.

Insurance Can Provide Valued Protection

One advantage of having commercial insurance is that it can provide you with more valuable coverage to protect your business. With commercial insurance coverage, you will be able to get both liability protection and coverage for all business assets. If there is ever an incident that results in damage or a liability claim, this could prove to be extremely beneficial.

Insurance Can Make you More Marketable.

Another reason that you should get commercial insurance is that it can make you more marketable. As a business owner, you need to provide assurances to your customer that you will complete good work and will be able to cover any mistakes made. If you have a commercial insurance policy with a liability policy, it will mean that you have the capacity to fix your mistakes, which could provide assurances to customers. 

When you are looking to build a commercial insurance policy in the Bloomsburg, PA area, it will be very beneficial to speak with someone that can help you guide your decision. The team at The Good Insurance Group, LLC can give you the insight and advice that you need to get into a quality insurance policy. When you speak with The Good Insurance Group, LLC, you can learn a lot more about how commercial insurance can protect your organization and keep you strong and solvent for years to come. 

Three situations where commercial insurance is required

Having commercial insurance is always a good idea regardless of what type of business you have and what industry you work in. However, having commercial insurance is also a requirement in numerous situations. 

If you are required to have commercial insurance, you need to be aware of this and acquire the appropriate coverage to avoid fines or more severe consequences.

The following from The Good Insurance Group, LLC in Bloomsburg, PA are three situations where you may be required by law to have commercial insurance coverage:

When you have employees

A large portion of companies out there rely on hired help. If you have employees working for your company, you should have workers’ compensation and unemployment insurance. Generally speaking, these two types of coverage are required by law for any company hiring on full-time staff.

When you drive a vehicle for commercial purposes

You cannot rely on regular auto insurance to cover a car that is used for commercial purposes. You need to purchase vehicle insurance that is specifically for vehicles used for business activities.

If you use a vehicle both for commercial and personal needs, you need to discuss your insurance needs and the legal requirements you need to meet with your insurance provider. 

When you work in a profession that is subject to malpractice lawsuits

Some occupations are subject to malpractice claims. Perhaps the most common example is the medical profession. However, lawyers and other professionals can be hit with costly malpractice suits as well.

While there is no federal law requiring malpractice insurance for those working in these professions, there are state laws that require malpractice insurance. You need to be aware of the requirements you’re subject to if you’re working in a profession involving frequent malpractice issues. 

If you have questions or concerns regarding your commercial insurance needs, get in touch with us at The Good Insurance Group, LLC. We offer commercial coverage to businesses located in the Bloomsburg, PA area, and we’ll be happy to help.