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As a business owner in Milwaukee, WI, you might be wondering whether you need business insurance. This is a question that other business owners in Wisconsin have been wondering as well. There is a feeling that staying without business insurance can help you save some money. However, it is necessary to get advice from Dern & Company, a leading insurance company in this region.
Is Business Insurance Required by Law?
Around the country, all the states require that your organization buy the necessary business insurance. This means that you cannot operate a company without having the essential insurance policy that will help in covering some of the eventualities that are likely to face your business. Here are some other policies that fall under the category of business insurance.
Workers’ Compensation
The law requires that your business have a workers’ compensation policy. This is an insurance cover that is specifically meant to address the medical expenses of the employees who will get injured as they handle various activities in your organization. Employees signing for workers’ compensation waive the right to sue your business for medical expenses and compensation.
Commercial Vehicle Insurance
You also need to have an insurance policy that covers the vehicle that handles your business operations. This is a different policy from standard auto insurance. It can be much expensive than auto insurance because it helps in addressing the needs of a commercial vehicle.
Business Property Insurance
Protecting your property and the assets inside your business premises is very important. That is why you must make sure that you have business property insurance. This is an essential policy that you cannot ignore as a business owner.
Do You Need Business Insurance?
From the notes above, it is obvious that you must make sure that you have the necessary business insurance. Dern & Company is the leading insurance company in Milwaukee, WI. Call us today for professional services and business insurance.
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