Whether you own a business that employees hundreds or just a few, it is important to have adequate insurance to protect your company and your employees. Luckily, that’s where commercial insurance fits in by covering your business from financial liability that may arise from damage to physical property or a workplace injury. Specific to Pennsylvania, state law requires that any business, regardless of the number of full-time, part-time, or temporary employees, have workers’ compensation insurance to help pay for medical bills associated with injuries or illnesses sustained at the workplace. Additionally, if your business owns any vehicles for work functions such as a delivery truck or van, it must be covered by commercial auto insurance with at least state minimums for liability. Although not required, if you require employees to utilize their personal vehicles for work functions, you should strongly consider hiring and non-owned insurance. The vast majority of personal auto policies will exclude business use.
When deciding how much commercial insurance coverage to purchase, here are a few tips to inform your decision. First, if your business leases property for a warehouse or office space, then the company's risk is higher. Second, consider your business's impact should you have to cease operations because of property damage or an illness to a key employee. Third, the location of the business can leave it exposed to higher risk. For instance, if your business is next to a construction site or a manufacturing facility, then the risk of a fire or property damage increases.
When it comes to finding the perfect commercial insurance policy for your business, give the knowledgeable and friendly team at DiMeglio Insurance Associates Inc. a call. Proudly serving Pennsylvania, we are your go-to spot for all your insurance needs and can customize any policy to exceed your expectations.