Article provided by: Jessie Insurance Agency
Jessie Insurance Agency is a leading insurance company, and we represent over 25 insurance providers. As the pioneers in the insurance and risk management industry, we help our customers find the best business insurance in Kentucky.
Types of business insurance
The coverage that most businesses purchase falls under the commercial property insurance category. Some of the common types of policies under the commercial property insurance category include:
- Commercial liability insurance – This policy protects your business from lawsuits that you may face from customers, clients, or members of the public. It is a third-party coverage as it covers claims for a party other than the insured.
- Commercial auto insurance – If your business involves the use of automobiles, you need to buy commercial auto coverage. It includes coverage for auto liability and physical damages, and at times also includes no-fault, uninsured, and underinsured motorist coverages. Under this policy, you can ensure all individual vehicles (both owned and hired autos)
- Workers compensation insurance – It is mandatory in most states, and if you employ workers, you must purchase workers’ compensation coverage to avoid legal liability. It offers coverage to employees that suffer injuries on the job.
In addition to the property/casualty coverages, you may also opt to buy employee benefits such as health insurance, a 401K plan, etc., for your employees. These policies can help you hire and retain skilled employees in the long term.
Cost of business insurance
The price you pay for business insurance depends on a variety of factors. For starters, rates can vary from one industry to another as the risk in some may be higher than others. Similarly, insurance companies are more interested in having businesses with a successful track record as their clients. This means that new businesses and startups pay more for insurance than an established company.
Furthermore, insurers also rely on a business’ prior loss experience when computing its potential ability to incur profit or loss in the future. Therefore businesses with a poor loss history pay more for insurance. Also, the rate of insurance differs from one city to another based on the type and scope of coverage you choose. We help our clients compare and choose the best business insurance in Kentucky at affordable rates.
Buying business insurance
As a business owner, you can buy insurance directly from insurance or through insurance agents or brokers. If you do not have an existing relationship with an insurance intermediary, start looking for a licensed agent or broker that can sell property/casualty insurance.
Finding an insurance agent that specializes in selling insurance to clients exclusively in your industry can be a bonus. If you own a small-sized business, you may also prefer to buy insurance online.
At Jessie Insurance Agency, we believe in being 100% honest with our clients. With a wide array of products, we are the pioneers in offering the best business insurance in Kentucky. Be it protection against property damage, legal liability, or employee-related risks, we have got you covered. Call us today at 270-595-0000 or visit http://www.jessieinsurance.com/contact-us/.