Business & Commercial Insurance

Whether you own a sole proprietorship or a more sizeable company, daily challenges can make it difficult to grow your business successfully. It can take just one accident, lawsuit or natural disaster to damage your business’s operations. Arches Insurance can help you with business coverage that complements your risk management strategy. 

What Is Business Insurance? 

Business insurance isn’t a single policy, but a combination of coverages you may choose to protect your company from numerous risks. The insurance policies you may need depend on your company’s specific needs and risks.  

Common types of insurance many businesses choose for protection include:  

• General liability insurance may protect your business against lawsuits or claims arising from third-party bodily injury or property damage, personal advertising injury or reputational harm, or negligence.

• Professional liability insurance, also known as errors and omissions insurance, may protect you if a client sues over late, incomplete, or unsatisfactory work.

• Commercial property insurance may protect you from losses or damages to your building, personal possessions and other property if a catastrophe (e.g., fire, explosion, burst pipe or theft) occurs.

• Workers’ compensation insurance may help cover your employees’ medical expenses and provide wage replacement if they experience a work-related injury or illness.

• Business interruption insurance, also known as business income insurance, helps replace lost income if you can’t operate or run your business following a covered loss or property insurance claim. The financial assistance can be used to cover rent, payroll, utility bills or other ongoing costs.

Other insurance coverage may also be beneficial for your business, such as cyber liability insurance, which may cover costs related to data breaches, and commercial auto insurance, if your business owns company vehicles. We can help you explore types of insurance that may suit your business’s needs. 

How Does Business Insurance Work? 

Like other insurance policies, business insurance helps provide financial protection following a covered loss in exchange for premium payments. The amount of your policy premium may depend on the types of insurance you’ve chosen for your business coverage, your deductible and any added endorsements. If you suffer damages or losses, you may file a claim with your insurance company seeking compensation for the covered incident. All insurance companies have different claims processes, and we can discuss what steps we may take to settle a claim. 

How Much Business Insurance Do I Need?  

Businesses evolve, so your company’s coverage needs may also change. We can help you navigate your insurance needs, including choosing the appropriate coverage limits, deductibles and endorsements that provide an appropriate amount of business insurance coverage. Protecting your company from operational risk is essential regardless of size.  

How Do I Get Business Insurance? 

The various coverages you may need for your company can be obtained through an insurance company like Arches Insurance. We can help you explore what business insurance policies make sense for your needs and help put together a no-obligation quote. 

How Much Is Business Insurance for an LLC? 

Your business insurance costs may vary widely compared to other companies in your industry and geographical area. Insurers use multiple factors to determine how much they’ll charge for a business insurance policy. They may use the following criteria to set premiums: 

• Your company’s size

• Your location

• Your company’s claims history

• The amount of coverage included with your business insurance policies

• Your deductibles and coverage limits

Your agent can help you shop around and get multiple quotes for various business insurance policies.

How Often Do You Pay Business Insurance? 

Your business insurance premiums may be due annually, every six months or monthly. Insurers determine whether they allow insured businesses to pay premiums monthly. If you choose to pay your business insurance premiums monthly, the insurer may charge a small fee. Talk with your agent to understand your premium payment options.

Coverage for Your Changing Needs 

As your business evolves, you may need to add different types of coverage or adjust your limits, deductibles or other details of your policies. Arches Insurance can help protect you with business insurance for your specific needs. Call 801-756-9568 to discuss the policies that may give you much-needed protection.