Most Common Commercial Insurance Myths

When you operate your business, it is vital to have the right commercial insurance to protect you as a business owner, the company itself, your employees, and all business assets. However, choosing proper commercial insurance is not the most straightforward task despite all the false information that business owners are bombarded with. AmPro Insurance LLC, serving clients in Colorado Springs, CO, has prepared the list of most common myths that every business owner should be aware of: 

There is no need for commercial insurance for a home-based business.

Unfortunately, the truth is that your standard homeowners’ insurance does not cover your home office and its contents. Anything about your business needs to have additional coverage, even if it is located in your house. Therefore, if you operate your business from home, it is essential to notify your insurance company about it to make the necessary adjustments. 

Vehicles used for commercial purposes are covered automatically.

Many people assume that if they use their personal cars for business purposes, they do not need any additional insurance. All vehicles used for work need to have separate coverage – commercial auto insurance.  

You do not need to purchase workers’ compensation insurance if you do not have any employees.

There is nothing wrong with running a business by yourself without any employees, as long as you can stay organized and focused. However, it does not mean that you should not carry workers’ compensation. It is still beneficial to purchase this type of coverage for yourself. It will help you protect yourself from lawsuits and claims against you. 

If you are thinking about commercial insurance for your new business or update the current policy, AmPro Insurance LLC, serving Colorado Springs, CO, will be happy to help you. Our knowledgable and experienced agents will answer all your questions and provide you with the information you need. All you need to do is to visit our website or give us a call. 

Must Have Commercial Coverage for Home Businesses

Commercial insurance isn’t just for businesses that have a commercial location such as a warehouse, retail store, or office. Home-based businesses can also benefit from the commercial coverage that AmPro Insurance LLC has to offer. The following coverage is highly recommended for business owners who operate a business from their Colorado Springs, CO home.

Property Coverage

If your home business uses a computer, printer, fax machine, business phone, answering machine, or other business equipment, you can protect these items with commercial property insurance. Property coverage also protects your business products if they’re stored at home. If these items are stolen or destroyed by fire, flooding due to faulty plumbing, lightning strike, or other covered peril, property coverage will compensate you for your loss.

Even though your business is run from your home, home insurance offers minimal, if any, protection for products or equipment related to business. In contrast, commercial property insurance is specifically designed to protect business equipment and inventory, whether it’s located at a commercial site or in your Colorado home.

General Liability

If clients or customers come to your home for business purposes, commercial liability is a must to protect you against work-related accidents on your property. You never know when a client will have an accident when visiting your home-based business. If an accident occurs, commercial liability will protect your business assets by covering his or her medical costs. It also protects you against a lawsuit if you’re sued for damages.

Business Interruption

A power outage after a disaster could bring your home business to a halt, causing you to lose valuable revenue. Business interruption coverage replaces lost revenue and covers essential business expenses to keep your business from going under.

To learn more about commercial insurance coverage for home-based businesses, contact AmPro Insurance LLC in Colorado Springs, CO.

Does Commercial Insurance Cover A Small Food Stand?

If you plan to own a business, you probably think you need some form of commercial insurance. This may not be the case in every situation because there are specialty insurance options for specific business types that can cover the business more effectively.

Food Truck Insurance

There is a type of business insurance that is specifically designed to provide coverage for food trucks. It covers specific assets and liability situations unique to food trucks. If you plan to own a food truck, begin exploring your insurance options with the help of a skilled insurance agent who can guide you through the process. They can identify client needs and present you with insurance policies that can cover your business adequately to prevent losses and other issues. 

Work With A Top Agency

The best way to discover the right policy for a food truck or any other commercial endeavor is to work with an insurance agency that has top agents with plenty of knowledge and experience helping select insurance for clients. A top company to work with is AmPro Insurance LLC, serving the residents of Colorado Springs, CO. We can work one on one with clients to outline each specific need and then work through the process of a policy purchase. We can also help provide support if there is a claim made in the future. 

If you are considering purchasing a food truck and want to learn more about your insurance requirements, call or stop by AmPro Insurance LLC and get answers to questions from our leading insurance team. Anyone in the Colorado Springs, CO area can count on us to help make the process easier. 

Look for these 3 features when choosing your commercial insurance policy

Choosing the right commercial insurance policy is an important part of protecting your business. Whether you are just starting out, or are an established business that wants to make sure that your insurance is keeping pace with your company’s growth, the team at AmPro Insurance LLC is here to help. We are proud to serve the insurance needs of businesses located in the greater Colorado Springs, CO area, and would welcome the opportunity to work with you too. 

Check for these 3 features when choosing your commercial policy

• Fleet coverage – if your company relies on commercial vehicles to get the job done, make sure that they are protected from loss, theft, or damage, and that you have coverage in case they become inoperable. Make sure that your business keeps rolling even if you can’t get out on the road.

• Business interruption protection – if there is a covered event that prevents you from conducting business, you can still continue to operate until your production is back up online when you have business interruption protection. Don’t let an otherwise covered event put you under!

• Comprehensive liability coverage – don’t let a slip and fall suit or other frivolous litigation affect your bottom line. When you have adequate liability insurance you can be protected from such potentially devastating events. If your firm operates in a highly litigious industry, it is worth looking into an umbrella policy to boost your overall coverage level. 

Choosing an appropriate commercial insurance policy can help to prevent a lot of headaches down the road. If you are a business owner in the greater Colorado Springs, CO area, contact the team at AmPro Insurance LLC today and learn more about your commercial policy options.