Many professionals operate from home and have homeowner’s insurance. However, this doesn’t cover legal suits or negligence charges. Accountants, attorneys, and brokers working from home need commercial liability insurance. Contact your Maanen Insurance Group agent in Greeley, CO to find out whether you need commercial insurance for your home-based business.
When Does Your Home-Based Business Need Commercial Liability?
If you have a business you run from your home or are planning to start one, don’t assume your homeowner’s insurance policy will provide sufficient coverage. A commercial insurance policy can protect your business against liability claims, fraud, theft, vandalism, and employee injuries. Some of the coverage options included are:
- Property and liability insurance
- Workers’ compensation
- Business auto and crime insurance
Liability Coverage for Home Businesses
If a disgruntled client or employee tries to sue you, you can protect your home and other valuable assets with business liability insurance. Homeowners and umbrella policies don’t cover incidents that take place in a home-based business. Instead, get business liability coverage to cover injuries and property damages that result from a business-related activity. This type of policy is a financial buffer that can help you replace lost property or a loss of income.
You can cover your businesses that involve personal services like music lessons, tutoring, consults for weddings, catering, and arts and crafts, among others. Photographers, accountants, lawyers, doctors and real estate agents that operate from their home could benefit from commercial liability insurance.
How Do I Qualify for Commercial Insurance for a Home Business?
Here are just some of the considerations for whether you need liability insurance specific to a home-based business.
- Where do you do business and what’s the building’s primary use?
- Do you own and operate the business?
- How many employees do you have?
- Does your business include home care services?
- Do you display a business sign?
Call your Maanen Insurance Group agent in Greeley, CO to decipher the answers to these questions and to make an appointment for a free consultation and quote.
Both new homes and older structures share the same risk: a loose fitting or a broken pipe can quickly cause thousands of dollars of damage with leaking water. And the problem can be magnified if the leaking is on a second floor, dripping down through the floor onto the first-floor furniture and carpet. Most residential plumbing is designed to last for years, but if it is badly installed or the fittings have aged significantly, the results can be the same. And once water under pressure finds a leak, it doesn’t back off. The water will continue to flow and widen the hole until the source is shut off, usually well after the damage has occurred for a quite a period of time.
Water damage can be particularly bad because, like fire, it spreads and permanently ruins what ends up in direct contact with the moisture. Worse, water can also lead to mold damage, which can create greater problems both with staining as well as causing a toxic environment. No surprise then, cleanup has to be comprehensive and detailed, making sure all the damage is collected and repaired, not just what is immediately visible.
Because water damage can be a real risk in homes, homeowner’s insurance typically covers the risk. However, generic policies may not be enough, especially in areas that freeze during the winter which can be a major cause of pipes bursting into a home. The Maanen Insurance Group can help Greeley, CO residents find the right policy for their needs and ensure that coverage is complete. Homeowners don’t need to play a guessing game with their home’s protection; call the Maanen Insurance Group in Greeley, CO today and be comfortably protected in winter or summer, regardless of what might occur with plumbing in Colorado, Florida, Georgia, and surrounding areas.
Commercial insurance isn’t usually a very popular conversation topic. It doesn’t help that most business owners don’t have a lot of extra time to sit down and go through their policy. So it’s no wonder that most small business owners don’t have the coverage they need to sustain their business should something go wrong. It is important to see why you likely fall into this category if you’re a business owner in Greeley, CO.
Limits and Liability
Your policy will set your coverage limits at a certain amount, after which, you’ll be responsible for additional charges. If you’re like many other business owners, you may have chosen either a lower level or a moderate plan because they fit your budget better. But the problem is that expenses tend to amount quickly when it comes to even a single insurance claim. If a customer claims that a slip and fall in your establishment led to chronic back pain for years, there’s a chance that you’ll need to cover their medical bills indefinitely. As you might imagine, this can force you to hit your limits rather quickly. The same goes for property damage. Between inventory and the physical structure of your property, it’s easier than you might think to surpass your limits.
Contact Maanen Insurance Group
Maanen Insurance Group is here to help business owners in Greeley, CO acquire the commercial insurance they need to keep their income alive in even the darkest of times. Too many business owners declare bankruptcy if they can’t cover their bills, and we don’t want to see that happen to you! To learn more about how our policies work, give us a call today. Our friendly staff is ready to answer your questions so you can feel confident and protected no matter what the future has in store for you!
Greeley, CO is mountain country, and when you tell an outsider that flooding is still a concern at these high altitudes, their responses tend to range from surprised to skeptical. But Maanen Insurance Group will be the first to tell you that it’s more likely than you might think. Up in Colorado we may not have the same risk of sea-level flooding as a coastal town does, but when you’re surrounded by lakes and snowy mountain tops and towns situated in valleys, well, we get heavy rains here, too.
In fact, the colder climate in Colorado has contributed to notable floods in the past, such as the 2013 Colorado floods, which resulted directly from a clash between a stalled cold front with a warm monsoon air over Colorado. Weather can be kind of weird. To a layman, the obvious culprits for flooding are busted dams, tidal waves and hurricanes. Colorado has proven time and again that there are a lot more possible causes for a flood than you could count without a spreadsheet.
So the short answer to the question of "how likely is a flood in Greeley, CO?" is "You’d be surprised.
There’s no way to prevent a flood, of course, and only so much you can do to prepare for one. It’s a good idea to keep some canned food stocked up in your home and make sure you have a plan should you need to evacuate, but most of all, you should give Maanen Insurance Group a call and make sure your home is covered. Without a good policy, a flood can turn you from homeowner to renter in seconds flat.
Every successful business has a story. How they started, where they are, and where they are headed. In all this planning, a disaster could bring everything to a standstill or damage the smooth progress. Maanen Insurance Group is dedicated to mitigating such unforeseen disasters. We understand the risks involved in running a business and want Greeley, CO investors to continue with stories for future generations to appreciate and learn.
Commercial insurance is not only confined to protecting your business from natural catastrophes. It is also designed to safeguard your investment from specific risks such as employee malpractice. In Colorado, most business insurance policies are options while a few are mandatory. The primary types of commercial insurance coverage include general liability, employees’ compensation, and property. Most businesses in the state of Colorado have them in their insurance package.
While running a business, injuries can occur unexpectedly on your premises. If this results in damages or injury to third parties, then insurance can take care of you. If the costs or injury was a result of negligence, then the general liability safeguards your business from lawsuits, fines, and other expenses.
When fires and other disasters strike your business, it results in a substantial amount of losses to both the building structure and the items inside. This is where property insurance becomes vital. It protects your business building, inventory, and exterior landscape. Moreover, the coverage can also include breakage and theft.
In your business, you have employees who depend on wages. In case of injuries or sickness, the worker’s or employees’ compensation compensate them for the lost salaries. The coverage ensures that you don’t suffer losses from disaster since the Maanen Insurance Group compensates wages.
There are many other commercial insurance options available. We take pride in serving Greeley, CO business community. Please contact us for more information. Our agents can provide you with a quote and answer your questions.
Many homeowners have experienced power outages and water disruptions that ranged from a mere inconvenience to a long-term catastrophe. It makes sense to store some water and nonperishable foods and to consider alternate means of power such as a generator for the house. It also makes sense to have sufficient home insurance coverage to assist in recovery following the emergencies we often face in this life. Reliable coverage includes some weather-related incidents, accident and injury, and liability.
Home Insurance in Colorado
Home insurance is not required by Colorado law, but then, neither are generators. Either could prove valuable at some point. Of course, your mortgage company may require home insurance. It rests with the homeowner to make wise decisions concerning methods for protecting a home. Give us a call at Maanen Insurance Group, and we’ll tell you what home insurance coverage you need. This way, you’ll be prepared for those possible and unfortunate eventualities. Planning prevents many expensive incidents, and it reduces the financial strain that could not be avoided.
Visit us at Maanen Insurance Group in Greeley, CO where our experienced agents can research the best insurance available for your home, find discount packages, and set you up with reliable coverage that will see you through when life turns unpredictable. We proudly serve the Greeley, CO area and hope that all our neighbors have a safe and fun winter.
We know how important it is to prepare for weather events and accidents on your property. We can also answer questions that may help you make your home safer for your family and visitors. Safety takes planning, and planning takes knowledge. Give us a call and let us know how we can help you today.