Commercial insurance is definitely something that you need if you own a business. However, we know that it can be a challenge to find the right coverage because so many coverage types exist. With that being the case, we decided at Evans Insurance Agency in Oregon to provide you with a list of the three most common types of commercial insurance. Now, it is time for us to expand on that coverage in the forms of commercial liability, umbrella, and property damage type of plans.
A commercial liability plan is one that is going to provide you coverage for the products you are selling. These plans are very important and often required if you are selling anything from a snow cone to a lawnmower. It is very important that you have these plans in place as they are the ones that will pay out to anyone who is injured on a product you sold.
- Even if you did not manufacture the product as the seller you could be held liable if someone gets injured using the product.
- This is the most basic type of insurance plan you should have for your business.
Property insurance is going to come in a couple of forms. We know that this is going to be important for you to understand and then you can make a choice on if you need this coverage or the next step up plan.
- Can come in coverage for the property and belongings of the business. At times this could even include the patron's vehicles that are on the lot, but not always unless they can prove the damage was caused by the business.
- When you are looking at this type of coverage we highly recommend looking at injury coverage. This will allow you to have coverage if someone should trip in the parking lot and get injured.
The best way to view an umbrella insurance plan is like an umbrella. It will cover you completely for almost every possible problem. We do know this is an important aspect of your coverage and it is one aspect that you do not want to be a low on.
- When you are looking for an umbrella plan find out what it does not cover as some of these could be invaluable for your business.
Finding the right insurance plan for your business is key to being a success. You just have to contact us at Evans Insurance Agency in Oregon to discuss your commercial insurance coverage needs and find the best plan for your business.