Commercial Insurance
In Indiana, several small businesses throughout the state keep local economies running. To keep your small business a staple or if you are looking to start a new business, make sure you have the appropriate commercial insurance to stay compliant and maintain financial protection.
What is Required?
In Indiana, any business with two or more employees must have a worker's compensation insurance policy available. This is meant to protect employees who are physically hurt while working and need medical attention. This policy is intended to provide treatments and a partial stipend until the treatment is over.
If your business requires your employees to drive one or more vehicles associated with your business, you need to make sure you have commercial auto insurance. The state requires that this level of protection is available if there is an accident involving your employees.
Other Commercial Insurance Options
You can add the following coverage options to your policy. They are optional and highly recommended.
- General Liability Coverage
- Business Income Coverage
- Errors and Omissions Coverage
Any time your business is found guilty of damages in a lawsuit, you will need liability coverage to cover these costs. Without general liability, you may be forced to sell your assets, which could be detrimental to the business.
Business income coverage is an excellent option to pay your bills and your payroll if your business is closed unexpectedly. The nature of these causes must be out of your control, and you must show proof of what you have been paying to get the assistance.
If you have a business that provides a professional service to clients, then errors and omissions coverage is critical. Should one of your clients suffer financially due to your negligence, this policy will help you cover these costs.
Contact Us Today
Our agents at Hoosier Hills Insurance Agency are here to assist you with the commercial insurance policy that fits your business today.
