The most common type of commercial insurance, the BOP, provides the four most common types of commercial insurance for a single reduced price. This is the policy that most businesses start with since it provides the foundational insurance they need, and each business can add to the BOP as needed.

If you just opened a Milford, PA business, RH Worthington Group can help you insure it. We recommend starting with a BOP and adding to it. That’s because you’ll save money by beginning with the BOP and that saving carries over when you add other policies to the package. Whether you need glass or boiler insurance or an umbrella policy after having maxed out your potential coverage for business liability, you can add it to the BOP. You’ll also benefit from any package discounts provided by our company.

Regardless of the underwriter used, a BOP always costs less than buying the four policies separately. For some businesses, such as a home-based independent contractor, a BOP may be the only insurance needed. This makes it easy for you when you open a new business. It also means you do not need to change your foundational policy when you add new services or products to your business. You can just add to the existing BOP. You might not think about expansion when you’re planning to open your business for the first time, but we believe in you! You can reach the point of expanding your business and we can help.

Let us help you get started with a BOP and help you determine if you need other policies. Contact RH Worthington Group serving Milford, PA for more information.

RH Worthington Group is an independent agency. We serve the Milford, PA community. We offer flexible policies so that our clients are protected in every situation. We strive to simplify the process of searching for insurance so that our clients can live more comfortable lives. Accidents can occur at any moment. That’s why having strong insurance coverage is so important. We look forward to helping you find the coverage you need.

Why Pennsylvania Business Owners Need Umbrella Insurance

Milford, PA is home to several emerging businesses. If you are a business owner in the area, you are constantly looking for ways to continue thriving. Operating a business comes with a lot of risks, as you could face legal action based on one minor mistake. Umbrella insurance adds another layer of protection as you deal with risk exposure. Umbrella insurance is a form of supplemental coverage that takes over if you have reached your liability limits while handling a dispute. If a customer walks into your business and accidentally falls down, breaking their hip, your business could be at risk of serious litigation.

Umbrella insurance adds another layer of protection to help cover the injured party’s medical treatment and prevent you from having to cover the damages out of pocket. Umbrella insurance also protects you if one of your employees suffers a serious injury in the workplace. Your entire business could be at risk if you don’t have enough liability coverage. Having a strong liability policy can help enhance your business because it shows that you are professional. However, there are some situations where even a strong liability policy isn’t enough. That’s where umbrella insurance steps in. To make sure that your business isn’t at risk.

RH Worthington Group Will Help You Protect Your Investment

Visit our website to learn more information about umbrella insurance.

Running a business is often a complex process that requires individuals to tweak their policy as appropriately needed. At RH Worthington Group, we can help answer any questions Milford, PA businesses may have about coverage, including whether pest damage is included.

What Your Policy Does Cover 

Understanding what your commercial insurance covers will help to make sure you don’t suffer a significant loss. For example, your policy should cover property damage to various items, like furniture, tools, equipment, and inventory. And it will help to pay for your business loss if you end up suffering from a covered issue that requires you to shut down for a specific time. 

What about pest coverage? This situation is usually complex because most commercial insurance policies will state that pests are a negligence issue. In other words, you are at fault because you did not take the steps necessary to get rid of mice, termites, ants, bees, or other pests in your business. Therefore, your policy is not likely to cover you in this situation, which may be frustrating. 

You may be able to talk to your provider about pest-control insurance and get some help. That all depends on the comprehensiveness of your policy and what your company is willing to do for you. Take the time to understand this situation by reaching out directly to your insurance provider. 

Give Yourself the Help You Need 

If you aren’t sure whether your policy is right for your needs as a business, contact us at RH Worthington Group right away to learn more. We serve Milford, PA, and the surrounding areas and will do what we can to help your company get the protection it needs.

The business owner’s policy (BOP) provides the four most essential policy types in one bundle for a reduced premium payment than you would be charged for separately purchasing each policy. It provides the foundation on which all other commercial policies are added.

RH Worthington Group, serving Milford, PA, wants you to carry the insurance that will protect your business. The types of commercial insurance you need vary depending on your business type. A dry cleaner would need different policies than a doctor’s office. The one commonality all share is the need for a business owner’s policy.

The BOP provides the foundation for all other policies. It includes liability coverage, personal property protections, structural property protections and covers the business for damage from specifically named perils. Those perils typically include hail, hurricane, fire, tornado, etc.

These insurance types form the four corners of the foundation of every commercial policy. Every business needs these. The beauty of the BOP is that you can add on any other commercial policies you need, whether malpractice for a doctor or inland marine insurance for a dry cleaner.

The BOP also saves you about 20 percent of the premium cost of purchasing these four essential policies separately. This helps every business since most have tight budgets.

You can customize the amount of coverage in your BOP. They all contain the same four policies, but you can set the amount of coverage you desire. Your business might require a $1 million liability policy, and you can have that within your BOP.

Contact RH Worthington Group, serving Milford, PA, today to learn more about insuring your company with a BOP. We can help you determine which of the more than 20 varieties of commercial insurance you need to add to it, too.

Anyone from the Milford, PA area knows that the area has a strong population base and continued support for small businesses. While this can provide you with a great place to live, it is also a great place to start a small business. When you start a company in this area, you need to ensure that you get proper coverage for it. There are several situations when having commercial insurance is a necessity.

When Raising Capital

A common situation when a business will need to get commercial insurance is raising capital for its organization. Many small businesses will have to take out a loan or raise equity to move the business in the right direction. Besides getting the money, most companies will have to provide evidence of full commercial insurance coverage first. 

When Hiring Staff

Another situation when you will need to have a commercial insurance policy is when you are going to hire a new team. Once you have started hiring employees, you will need to carry workers’ compensation insurance. This is an important form of coverage that will protect your employees if they get hurt while working. Having this is a requirement once your team reaches a certain size.

Those that are in the Milford, PA area will need to get proper insurance. As you are looking for a new policy here, you should speak with the RH Worthington Group team. If you speak with RH Worthington Group, you will quickly find that the team is experienced and understands the risks of starting a company. They can then provide the guidance that is needed to help you build a new policy. 

Those that are interested in owning a small business should consider coming to the Milford, PA area. If you choose this area of Pennsylvania to start your business, you can benefit in several ways and enjoy a lot of success. At the same time, it is vital that you protect your organization. One of the best ways to do this is by getting a commercial insurance policy. There are several reasons that a business should get this coverage.

Required by Stakeholders

One reason that you may want to get an insurance policy for your Milford business is that your stakeholders could require it. A company is likely going to have insurance obligations that are set forth by their landlord, investors, and lenders. It is vital that you understand what your obligations are and follow the rules and regulations.

Gives Valuable Coverage

Businesses should also get insurance due to the valuable coverage it can provide. A business owner can receive business property insurance and liability insurance through their policies. Both of these forms of insurance coverage can help to ensure that your company will remain solvent if an accident or other form of loss occurs. 

When you are a business owner in the Milford, PA area, it is crucial that you get a quality commercial insurance policy. However, picking one of these policies can be quite complex. Due to this, it is imperative that you receive the support you need when choosing a policy. The team at the RH Worthington Group can help you to pick a policy that adequately protects your organization. The RH Worthington Group is able to do this by assessing your business needs while also answering any of your questions to ensure you make the right decision for your company.