The Basics of Commercial Insurance: What Wisconsin Business Owners Need to Know

Many dream of being a business owner in the Milwaukee, WI, area. If you are starting or running a business here, you need to know and manage many vital facets. One crucial part is insurance. There are various aspects of commercial insurance that a business owner needs to know. 

Types of Insurance

When you build a commercial insurance plan, knowing the types of insurance available is important. You select a policy based on your business’s needs. Some of the kinds of insurance to consider include the following:

  • Liability insurance provides commercial liability coverage for a business. This offers coverage for bodily injury, property damage, and other injury claims against your company.
  • Property insurance offers coverage for all assets owned by your business. This includes protection for your place of business, inventory, and other assets against fire, theft, and other risks. 
  • Workers’ compensation offers coverage for your employees if they are injured while on the job. 


It is also essential to assess your insurance requirements. Most businesses will be required by other entities to get insurance. This can include requirements set by lenders, real estate owners, investors, and other stakeholders. If you have employees, you may be required by the state of Wisconsin to carry worker’s compensation insurance. Following such requirements is important and will keep you in good standing. 

Anyone who plans to own a business in the Milwaukee, WI area should call our team at Dern & Company. We offer various services to help ensure you build a plan that meets your needs and protects your organization. 

Safeguarding Your Belongings: How Renters Insurance Covers Personal Property Loss

At the core of renters insurance policies is personal property coverage. This coverage in and around Milwaukee, WI serves as a cornerstone by protecting your possessions, including furniture, electronics, clothing, and other personal items, from various potential risks. Here’s how this coverage works:

  1. Protection Against Common Perils: Renters insurance offers protection against prevalent risks such as fire, smoke damage, vandalism, theft, and specific weather-related damage. If any of these events cause harm or destruction to your personal property, your renter’s insurance policy steps in to help you recover the value of your losses.
  2. Actual Cash Value vs. Replacement Cost: When insuring personal property, you can choose between two types of coverage: actual cash value (ACV) and replacement cost coverage. ACV coverage reimburses you for the present value of your items, considering depreciation. In contrast, replacement cost coverage covers the expense of replacing your belongings with new ones of similar kind and quality without accounting for depreciation. While ACV coverage is often more affordable, replacement cost coverage provides more substantial financial protection in the event of a loss.
  3. Off-Premises Coverage: Renters insurance doesn’t limit its protection to your rental unit alone. Possessions are covered even if what is stolen was not on the premises. This means that if your laptop is stolen from your vehicle or your luggage goes missing while you’re traveling, your renter’s insurance can assist in covering these losses.
  4. Customized Coverage Limits: Renters insurance policies are adaptable to your specific requirements. You can select the coverage limit for your personal property, ensuring ample protection according to the worth of your possessions. 

Dern & Company LLC Can Help You

At Dern & Company, we can help answer questions concerning renters insurance. We serve the Milwaukee, WI area. Contact us today.

Four important pieces of advice to follow before buying boat insurance

Boat owners need to make the right decisions when choosing their insurance coverage to protect them financially. At Dern & Company, we sell boat insurance in Milwaukee, WI.

The following are four essential pieces of advice that boat owners should follow when buying boat insurance. 

Research any boat insurance requirements you need to meet

Boat insurance is required in a variety of situations. Boat insurance is always required by lenders who provide financing for boat purchases. Many marinas also require boat insurance.

Ensure you are aware of any requirements you need to meet regarding boat insurance coverage. 

Know about coverage exclusions on your boat insurance policy

Boat insurance policies sometimes have policy exclusion on costs boat owners face due to maintenance-related issues or normal wear and tear.

Make sure you know about all the exclusions your policy includes so that you don’t face unpleasant surprises if you file a claim. 

Understand any navigational limits on your policy.

Any boat insurance policy will include some navigational limit. You won’t be covered if you take your boat outside these navigational limits. That’s why policyholders need to understand the navigational limitations their policy is subject to. 

Invest in any available safety equipment.

Taking boating safety measures and investing in safety equipment like alarms can help to minimize the chances that you’ll face high expenses and damages due to boat ownership.

You should research safety precautions and take such precautions whenever possible to prevent boat accidents whenever possible. 

Are you interested in learning more about boat insurance in Milwaukee, WI? Give us a call today at Dern & Company to get a quote on a boat insurance policy. 

Three things you need to know about commercial insurance

Business owners need to be informed about how commercial insurance works and what their commercial insurance needs are. At Dern & Company, we’re here to answer your questions about insuring your business in Milwaukee, WI.

The following are three things you need to know about commercial insurance. 

There are a lot of different types of commercial insurance available.

Business owners should understand all the different types of commercial insurance. Different companies need different types of coverage.

Every company can benefit from carrying commercial liability coverage. In addition, companies that rely on vehicles for commercial operations should carry commercial auto coverage. Companies with employees typically need workers’ compensation coverage.

Other types of coverage include errors and omissions insurance, business interruption insurance, and more.  

Commercial insurance is required by law in some situations.

Your company might be legally required to carry commercial insurance. This is especially true if your company employs staff members. Many states have laws requiring companies to carry workers’ compensation coverage if they have at least a certain number of employees. 

Commercial insurance can make it easier to be approved for business loans. 

One of the benefits of carrying commercial insurance that some business owners aren’t aware of is that insurance makes it easier to acquire financing.

Lenders generally require companies to carry commercial insurance before they approve them for business loans. You’ll probably find it easier to get capital if you insure your company when you need it. 

You can insure your business in Milwaukee, WI with Dern & Company. We are an insurance provider offering commercial policies to area business owners. Contact us today for a quote on a policy that will financially protect your company. 

Do I need Year Round Boat Insurance in Wisconsin?

As boating enthusiasts, the team at Dern & Company understands the importance of boat insurance. We know every boater wants to protect their vessel, but do you need boat insurance year-round in Milwaukee? In this blog, we will break down the benefits of year-round boat insurance and why it’s crucial for boaters in Milwaukee, WI.

The Weather in Milwaukee

Milwaukee’s weather can be unpredictable, with frigid winters and sudden storms. These weather events can cause significant damage to watercraft. Even if your boat isn’t on the water in the offseason, it still needs to be protected from theft, vandalism, and other risks that can occur while it’s in storage. Year-round boat insurance will give you peace of mind by knowing that your vessel is protected, no matter the season.

The Costs of an Accident

Boating accidents can occur even when you’re the most cautious. Whether it’s a collision or an injury to a passenger, the financial impact of these incidents can be devastating. Liability coverage in your boat insurance policy will protect you from legal and financial repercussions. Year-round insurance coverage ensures that you have the necessary protection throughout the year, whether on the water or not.

Compliance with Marina Requirements

Many marinas in Milwaukee require boat owners to have proof of insurance before they can dock or launch their boats. A year-round boat insurance policy guarantees that you have the necessary insurance requirements throughout the year, allowing you to enjoy your watercraft whenever you want.

While you may think boat insurance is only necessary during the boating season, having year-round coverage is essential in Milwaukee, WI. Contact Dern & Company today to learn about year-round boat insurance policies and how they can protect your watercraft.

Does Commercial Insurance Protect Against Business Liability?

Commercial insurance is a necessary tool to help prevent losses and protect owners from various risks. One of the benefits of commercial insurance is that it provides liability protection. Anyone interested in acquiring top quality Commercial Insurance can count on Dern & Company to steer them in the right direction. We proudly serve Milwaukee, WI, and the surrounding areas.

Commercial Insurance Coverage 

If you own a business or a commercial endeavor, you’ll need commercial insurance to protect you from various covered events. Liability protection is also included in most commercial insurance policies. These policies cover specific events that are considered the responsibility of business. There are several reasons for a liability claim ranging from customer injury or owner negligence resulting in property loss or damage.

Our agents are standing by to provide business owners with the insight and guidance necessary to select policies that meet their needs. Our agents work closely with each individual to determine their current and future needs and then recommend policy options based on those observations. Our agents will also outline the terms and conditions to ensure you understand what the policy will and won’t cover.

In addition to helping our customers select and submit information to get commercial insurance coverage, we offer full customer support after the policy purchase. We can assist with various policy changes or even with submitting documents and details related to a policy claim. We are committed to offering top-quality customer service to individuals seeking peace of mind and protection from liability.

Reach Out Today 

To get more information about commercial insurance options, contact an agent at Dern & Company today. We can help make the policy of selecting and purchasing insurance straightforward and hassle-free. We are here to serve the residents of Milwaukee, WI, so they can get the coverage they need.

Why Do I Need Commercial Property Insurance?

Business owners in the Milwaukee, WI region are not mandated by law to purchase commercial property insurance, though many choose to do so to protect against financial loss. The only required insurances are workers’ compensation and commercial automobile insurance. 

Depending on the industry you work in, you may have machinery that is necessary to produce the items or services you provide. It’s important to estimate the value of replacing this equipment on top of any lost income that could result in the event of a catastrophe. Inventory is another important class of goods you may wish to keep insured. 

It’s important to remember that commercial property insurance also insures the contents within the four walls of a building if you rent or lease. Many landlords will require you to obtain this type of indemnification in their contract, as their insurance will not protect your possessions but only the edifice itself. Be sure to let your Dern & Company insurance representative answer these and any other specific questions you may have about property insurance. 

Your products can be subject to theft, as well as your machinery or the components you keep on hand, and vandalism can damage items, as can fires due to faulty wiring or arson. Smoke damage can devastate your wares, rendering you unable to sell them due to residual odor, and water from sprinkler systems can further ruin your tools and goods. 

Natural disasters can also affect your stock, including hail, heavy rain, tornadoes, and hurricanes. Lightning is another hazard that can damage electronics by overloading the power grid and surging through outlets. 

Let Us Help

Dern & Company exists to help Milwaukee, WI residents with their insurance needs. Let us be of assistance to you by reaching out via telephone, the internet, or visiting the office. 

Does My College Student Need Renter’s Insurance?

Renters’ insurance is not legally required in Milwaukee, WI, though a landlord often asks renters to obtain a policy. It’s something that many college students and their parents consider for the following reasons. 

It’s often the norm for college students to need expensive electronics to complete their studies. Young people also like to have a variety of gadgets with which to communicate and for recreation. These can add up to significant costs in the event they are damaged.

Fires can happen in kitchens with inexperienced cooks, and water damage can occur from sprinkler systems when activated. This can also put furniture, clothing items, and textbooks in peril. Smoke from fires will also ruin personal items if the incident is widespread and significant.

Theft can be an issue on a campus filled with young people, and a stolen backpack can contain computers and other vital devices. Other perils can include burst pipes due to freezing, falling objects, or electrical short circuits. 

It cannot be assumed that landlords or even schools will cover these expenses. Usually, the insurance that a landlord purchases will cover their property, as in the four walls, but not the contents contained within. Your Dern & Company representative can go over the details of what would be covered in your specific policy. 

There is also the issue of what can sometimes happen when someone is injured on your premises. Accidents can happen, and these often involve medical expenses. It’s also possible for incidents to escalate into lawsuits to recover lost wages and pay for personal damages. 

Dern & Company helps renters in Milwaukee, WI by tailoring indemnification sufficient for their needs. We invite you to stop by the office, visit us online, or call for more information. 

Four Key Areas Covered by Boat Insurance

If you own a boat, you probably cherish the good memories you make on the water. Nothing beats the cool breeze and warm sun on the water. But do you know that one incident can destroy your pricey boat and leave you bearing huge losses? Well, that should not be your case, as you can protect your vessel with boat insurance at Dern & Company if you live in Milwaukee, WI. Like auto insurance, boat insurance comes with different coverage that protects you in different situations. Let’s look at some of the areas covered by boat insurance.

  • Liability insurance: Liability coverage steps in when you damage another boat or cause injuries to someone in an accident you are at fault. The coverage pays for the damages, medical costs, or legal fees if you get sued.
  • Medical payment: Boat insurance also covers medical expenses for you and your passengers if injured in a boat accident. This way, you can focus on recovery without thinking about out-of-pocket medical expenses.
  • Property damage: Boat insurance covers your boat in the event of theft or damage due to an accident or sinking. The good thing about this coverage is that it covers your vessel in the water and on land.
  • Uninsured watercraft coverage: Wisconsin does not require boat owners to carry boat insurance. In that case, you will find many uninsured boaters on the water. If any uninsured boater hits your boat, the coverage protects you.

Boat insurance in Milwaukee, WI

Anyone who owns a boat will tell you it’s an expensive investment that requires proper insurance. In case of an unfortunate event, the cost of replacement or repair would amount to thousands of dollars, not to mention the hospital bills. Why wait until you are sorry to purchase boat insurance? If you are looking for boat insurance in Milwaukee, WI, look no further than Dern & Company. Contact us today for an affordable quote.

Your Wisconsin Business Needs Commercial Liability Insurance

As a Milwaukee, WI business owner, you must ensure that you have the right insurance coverage to protect your company. One type of insurance that is essential for any business is commercial liability insurance. This type of insurance can help cover the costs of damages or injuries that occur because of your business operations.

What is Liability Coverage?

Liability coverage is insurance that helps protect your business from the financial costs of damages or injuries that occur because of your business operations. If someone is injured on your property or by one of your products, liability insurance can help cover the cost of their medical bills, lost wages, and other expenses. Liability insurance can also help cover the cost of legal fees if they sue you for damages.

Your Dern & Company insurance agent can help you choose the proper liability coverage for your business.

Why Do You Need Liability Coverage?

Many risks come with running a business, and liability insurance can help protect you from the financial consequences of these risks. This policy type offers protection from a variety of potential risks, including:

  • Bodily injuries: If someone is injured on your property or by one of your products, commercial liability insurance can help cover their medical bills and other expenses.
  • Property damage: If your business operations result in damage to someone else’s property, this policy can help pay for the repairs.
  • Legal fees: If you are sued for damages because of your business operations, commercial liability insurance can help pay for your legal fees.
  • Product liability: If you sell products, you could be held responsible if one of your products causes injuries or damages. Commercial liability insurance can help cover the cost of these claims.

Learn more about your business’s risks and how commercial liability insurance can help protect you by talking to your Dern & Company insurance agent.