What to Consider Before Buying Commercial Insurance


Businesses of all sizes face threats from all sides on a daily basis. Anything from flood or fire, dishonest or inattentive employees, or even a unsatisfied customer can turn your business on its head in an instant. In order to minimize risk in these cases, you must not only buy commercial insurance, but you must buy the RIGHT commercial insurance.

The first thing to consider is the size of your business. Depending on this, your options include:

  • Adding an endorsement or extra coverage to your existing homeowner policy; this option is optimal for small businesses

  • Buying business/commercial insurance; this option is recommended to mid-sized, growing companies as well as larger scale businesses as it includes more commercialized options.

After you have determined the right fit based on the size of your company, consider your coverage options based on the needs of your business.  Commercial insurance comes with many options, so that you can tailor your commercial insurance to fit your business. Pay for the coverage you do need, DON’T pay for the coverage you don’t need.

What Are Your Commercial Insurance Coverage Options?
  • Property coverage

    • This protects the buildings, inventory, and equipment where you operate your business

  • Workers compensation

    • For injuries sustained on the job, workers’ comp covers medical expenses, lost income, and rehabilitation. If an employee passes away, the compensation will be presented to the family.

  • Liability coverage

    • If someone gets hurt on while on your property or damage to the property occurs, you will not be held responsible

  • Business-interruption coverage

    • The loss of a key figure in your business or an unforeseen disaster forces you to close your business

  • Commercial auto coverage

    • For vehicles you use for your business, such as a company car

  • Umbrella or excess liability policies

    • After a large loss, this coverage will kick in and extend your liability coverage, giving you an added layer of protection

  • Employment practice liability insurance

    • Recommended for larger companies with enough employees to be subject to state or federal civil rights laws

  • Key man insurance

    • Potentially useful for small business who would suffer a severe financial loss if an invaluable employee were to pass away or become disabled

  • Employee health insurance

  • Life insurance

    • Protects you and/or your business operators

Here at Tosa Insurance we understand the stress of being a business owner.  We offer services that can take some of the stress out of your day to day life. Give us a call today to talk about a policy that fits the needs of your business.