Regardless of your Pennsylvania business' size or nature, it would help if you had commercial insurance from Tommelleo & Associates to protect you and your business from various perils. We understand that all business insurance needs are unique. That's why we offer multiple options to cater to different business needs.
Commercial insurance can be complicated, and there is a lot to learn. Here is a brief guide to help you make an informed decision.
Is commercial insurance mandatory in Pennsylvania?
The Pennsylvania State requires all businesses to carry the below commercial insurance options:
- Commercial auto insurance: Covers your business vehicles from damage in case of an accident. It also covers the medical expenses of your driver and injuries caused to third parties in an accident.
- Workers' compensation coverage: Whether part-time, seasonal, or full-time, all businesses are required to carry workers' compensation coverage to cover medical expenses for employees' injuries sustained in the workplace.
Beyond compliance, why do I need commercial insurance?
There are plenty of reasons why you should purchase commercial insurance. Let's look at some.
- Asset protection: Whether you own or lease your business premises, it's vital to protect them from perils like storms, lightning, fire, and so forth. Imagine if fire wiped out your manufacturing plant? The damage could cripple your business entirely. Fortunately, when you have commercial insurance, you don't have to restart your business from scratch.
- Liability protection: Accidents can happen in the place of work. As a result, property damage or bodily injury can occur to third parties. Thankfully, you are covered against property damage, bodily injury, and even advertising injury to third parties when you have general business liability coverage.
- Malicious online activities protection: With cyber insurance, your business is protected from hacking activities that can lead to data breaches and other irreparable damages.
- Business income protection: Has your business been ravaged by fire, theft, or windstorm damage and can't operate at the moment? A business income insurance plan covers damages until your business is off the ground again.
Do you need more information on commercial insurance? Please contact Tommelleo & Associates, and our team shall address all your queries. And if you need to renew or purchase new commercial insurance, we are here to help. Contact us today.