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.