When you run a business, a robust commercial insurance policy is one of the best investments you can make. As a business owner located in the Milford, PA area, you can trust RH Worthington Group to provide reliable and comprehensive coverage for your business.

Assessing Your Business’s Risks and Coverage Needs

The first step to securing the right commercial insurance policy is to assess your business’s risks and coverage needs.

You should identify any potential liabilities and losses that your business may incur and make sure these are covered in the policy. Depending on the type of business you run, potential liabilities may include property damage or injury to staff or customers. You’ll want to make sure that the coverage limits are high enough to cover any costs associated with these risks.

Types of Commercial Insurance Policies

The next step is to decide which types of commercial insurance policies you need.

1. General Liability Insurance

This type of policy covers monetary damages and legal costs associated with bodily injury, property damage, libel or slander, and advertising injuries to a third party.

2. Property Insurance

Property insurance covers losses caused by an accident or theft of your business’s physical property, such as buildings and equipment.

3. Workers’ Compensation Insurance

If you have employees, workers’ compensation insurance is mandatory in most states. This type of policy covers any medical costs or lost wages resulting from a work-related injury.

4. Professional Liability Insurance

This type of policy covers monetary damages and legal costs associated with a professional mistake or negligence. It’s important to note that this type of policy is especially useful if your business provides services such as consulting or legal advice.

5. Product Liability Insurance

Product liability insurance covers any damages that occur due to a manufacturing defect in your product, as well as any legal costs associated with defending a product liability lawsuit.

Choosing the Right Policy for Your Business

Having proper commercial insurance coverage helps protect your business from the financial burdens that come with property damage, theft, medical expenses, and more. At RH Worthington Group, we understand the complexities of running a business and will take the time to assess your risk levels and coverage needs in the Milford, PA area in order to provide you with an appropriate policy that best meets your unique needs.

Our experienced agents will work with you to make sure the limits of your commercial insurance policy are adequate for any potential losses, ensuring that your business is fully protected. Contact us today to learn more about our commercial insurance policies and how we can help protect your business.