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33 2nd St
Elmer, NJ 08318

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Commercial Insurance

What Are Two Types of Commercial Insurance?

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Commercial insurance is necessary for any reasonable business to operate safely and protect itself in the event of accidents and other mishaps. At Sloan Insurance Agency, serving the Elmer, NJ area, we believe every business should have the best chance at success. Building a thriving business comes down to being prepared for those times when things don’t go as planned. Mishaps and accidents can happen anywhere, and your business deserves proper financial protection for its day-to-day operations.

The two most common types of commercial insurance, aside from worker’s compensation, are property and liability insurance. Generally speaking, property insurance covers any damage to your business’s physical property. Liability insurance covers the area outside this – namely, damage caused to third parties. These insurance types are recommended for any serious business, as they will cover most if not all of the possible snags, issues, and mishaps that may occur. A good insurance policy is a significant first step toward protecting your business’ assets.

Contact us at Sloan Insurance Agency today, and we’ll help you navigate through the sometimes confusing world of commercial insurance. We’re glad to serve the Elmer, NJ area and are proud to help business owners be prepared for the ups and downs of owning a business in any way we can. Proper commercial insurance protects you financially but helps to give you peace of mind about your business operations, even when accidents or mishaps occur. You and your business deserve the best chance at success possible, and success starts with a strong foundation and the proper financial protection provided by a good insurance plan.

Why Your Business Needs Commercial Insurance

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When you own a business, there are many aspects to that business that can pose a legal and financial risk to you. This is why business owners need to have commercial insurance. There are many different types of commercial policies, and some will be right for your business. To find out more about commercial insurance, call us at Sloan Insurance Agency in Elmer, NJ.

Workers’ Compensation Insurance

This is a type of commercial insurance coverage that is mandated by most states, including New Jersey. This type of insurance is there to pay for injuries or illnesses that happen while an employee is at work. This insurance is great for your business because it means that your company won’t have to come up with the money to pay for the medical bills. Instead, the policy will pay for them. 

General Liability Insurance

There are many different types of liability coverage that are included in this policy type. It protects you against a number of different scenarios in which your business could be found liable. This is valuable protection that your business shouldn’t be without, although this type of insurance is not mandatory in New Jersey. 

Commercial Auto Insurance

If your company owns a car or truck, that vehicle has to be covered by a commercial auto policy. This policy is helpful to your business because it pays for medical bills and other costs generated by the vehicle it owns. Without this coverage, any accident that you are liable for would be paid out of your pocket. With this coverage, it can be paid for without you being sued for the amounts. 

Getting Commercial Insurance

Your business should have the basic types of insurance coverage it needs to keep itself financially protected. If you need one or more policies, call us at Sloan Insurance Agency in Elmer, NJ.

Protect Your Business with Commercial Insurance

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If you’re a business owner in Elmer, NJ, then it’s necessary that you not only have commercial insurance but that you understand how it works. Commercial insurance is the lifeline that will keep your business afloat in trying times. Learn the in’s and out’s of commercial insurance and how it can protect your business with Sloan Insurance Agency.

What Does Commercial Insurance Cover?

Commercial insurance is a type of insurance that provides financial coverage to protect your business’s property, employees, and reputation. Here are some areas in which commercial insurance can provide coverage: 

  • An injured worker on the job
  • Property damage
  • Liability
  • Lawsuit
  • Legal fees
  • Broken equipment

These are just some of the areas in which commercial insurance can provide protection. The specific coverage amount and type of coverage you receive will depend on which commercial insurance policy you choose. To find the right commercial insurance policy for your business, visit Sloan Insurance Agency for a consultation. 

Why Get Commercial Insurance?

You poured everything you have into your business. You worked long hours and sacrificed a lot of things to build your business from the ground up, and that’s something to be immensely proud of. That’s why you need to do everything you can to protect your business. It would be best if you looked at your business and your employees like your family. 

Your business is not only a place that you built, but it’s part of who you are. You’re not only considering the well-being of the property or equipment but of the employees who work for you as well. The employees help keep your business running strong, so it only makes sense to provide the coverage. Give yourself peace of mind with commercial insurance. 

Protect Your Business with Sloan Insurance Agency

When it’s time to find the right commercial insurance policy for you, visit Sloan Insurance Agency. Our office proudly serves the Elmer, NJ area. 

How Should I Structure My Commercial Insurance Policy?

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Your commercial insurance policy, like all insurance policies, can be structured to fit the individual needs of your business. So if you want additional coverage on certain products or pieces of equipment, you can request for this to be built into your coverage. While there are plenty of boilerplate policies available, it helps to consider the structure of your insurance before you sign off on the policy. Sloan Insurance Agency wants you to consider a few things if you’re trying to decide on a policy in the Vineland or Elmer, NJ area. 

Think of the Risks 

Your business is unlike any other business out there, so you need to think about your individual risks. If you’re in an area with high crime rates, you may want to think about how theft or vandalism is covered under the policy. Or if you’re a large business, you need to consider how this will affect your liability. The more people you serve, the more likely it is that you’ll be served with some type of claim against you.

Weather should also play a major role in your decision-making process. The more storms or events you face, the more protection you should have. You can also think about getting business interruption insurance. This form of insurance will cover the income you would have made in case your business needs to be shut down for repairs. 

Asking Questions 

Insurance can be a difficult thing to consider, especially when you have countless other details on your brain. But the best way to get the policy you need is to speak to someone who knows. If you want to discuss your policy with an expert, call Sloan Insurance Agency in Elmer, NJ today. We’re here to help you get the advice you need so you can make a better decision for your business.