If you own a business in Kentucky, be sure to protect your investment and years of hard work with the right business insurance. This coverage is designed to protect you in the event the unexpected occurs, so you don’t have to close your doors or deplete your personal assets to cover losses.
When you own property for your business, you want to insure it against theft, vandalism, or damage from storms and fire. Your business property is often where you have invested the most money in your enterprise.
Like home insurance, business property insurance covers office buildings, warehouses, and other common business structures. It also covers the contents of those buildings, including furnishings, business equipment, tools, and inventory. If you rent your office space, you can elect to cover only your belongings and not the structure itself.
We will ask you for some basic information about your business to make sure you are fully covered for things like:
General Liability Insurance
Commercial liability insurance, also known as general liability coverage, can offer protection from a variety of liability exposures, such as someone getting injured on your premises.
Within general liability insurance, there are specialized policies that some businesses should have for other types of liability, including:
Business Umbrella Insurance
Depending on your industry and the liabilities you are likely to face, we may recommend adding more liability coverage through a business umbrella policy. Similar to personal umbrella insurance, this coverage is activated when your other liability insurance cap is reached. Umbrella policies typically offer higher maximum claims than other types of liability protection.
Commercial Auto Insurance
Many businesses, especially if they are brand-new or very small, mistakenly believe their company vehicles are covered by their personal auto insurance. However, this leaves them open to lack of coverage, as business cars, vans, and trucks must have their own commercial policies.
Business auto insurance provides liability coverage required by the state of Kentucky. This covers medical expenses and property damage for others, among other benefits, if you or one of your employees is at fault in an accident. You should also have collision and comprehensive insurance (AKA full coverage), so damages, fire, or theft don’t leave your business without the transportation it needs to operate.
Commercial auto policies have extra features that you may enjoy. They cover rental vehicles for work trips and the use of employee vehicles for work, including personal vehicles driven for pizza and flower delivery or sales calls.
Workers Compensation Insurance
Employees who are injured on the job need medical care, physical rehabilitation, and the replacement of lost wages. Workers compensation insurance covers these things and more.
Workers comp has become increasingly sophisticated lately. It covers long-term disability, if needed, as well as prescription medications and skilled nursing care.
It’s a win-win for businesses because it not only protects employees; it also protects business owners from lawsuits when workers can’t get the financial help they need to recover. Workers comp is definitely a smart insurance purchase.
If you are unable to fulfill a business promise or contract, usually due to something outside your control — like an unreliable subcontractor — bonds can be a lifesaver. They provide a type of insurance that protects you in the event a client sues you or pursues financial damages for failing to make good on your word.
There are hundreds of kinds of bonds available to you, depending on your profession. While they are more commonly used in construction and the skilled trades, they are also relied on by people working in the public sector. Just let us know what you need.
Let Us Customize Your Business Insurance Policies
We know every business is unique. At Bilz Insurance, we have hundreds more commercial insurance options for you than the big companies with a limited menu of their own products, so we can tailor policies to your needs. You’ll enjoy exceptional personalized service and the most reasonable prices, too.
Don’t put your hard-earned business at risk by not protecting it properly. Call us today at 859-431-1235 or reach out online to get started on a quote.