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Rhode Island Commercial Insurance

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Rhode Island Commercial Insurance to Protect Your Business

Whether large or small, businesses need insurance. You need insurance to cover you against lawsuits, as well as insurance to protect your offices should disaster strike. Those looking for Rhode Island commercial insurance have a variety of options to choose from. Here are some options to consider if you're searching for coverage for your business.

Benefits of Commercial Insurance

For just the price of monthly premiums, Rhode Island business insurance can protect your business against lawsuits as well as property damage. Just as you wouldn't drive your car or live in a home or apartment without insurance protection, you shouldn't run a business without liability insurance.

Whether you own a retail shop that sees customers every day or you work out of an office with only other workers on site, you are susceptible to liability. If someone falls on your property or a worker injures himself or herself on the job, you may be subject to workers' compensation. Or if a water line breaks in your building and your business is flooded out for months at a time, you may find your business threatened by unforseen circumstances.

Important Coverages

Don't even think about opening your doors another day until you've considered the following insurance coverage options.

  • Auto—If your business has commercial vehicles used by employees, you need commercial auto insurance to cover anything that could happen. If an employee has an accident in one of your vehicles, you'll need to have coverage not only for the vehicular damage, but for any medical costs incurred as a result.
  • Property—Whether your property damage is related to Mother Nature or a break-in, commercial business insurance RI covers damage to your property.
  • Workers Compensation—If you have employees, you can't afford not to have workers compensation insurance coverage for those employees. Even if your employees aren't regularly engaged in dangerous manual labor, workers comp complaints can happen. Everything from a shelf falling on an office worker to an employee developing carpal tunnel syndrome can strike, leaving you liable. Workers comp can keep you safe from workers comp claims, paying medical costs for employees who are injured while working for you.
  • Liability—You don't have to have a retail store to have someone become injured on your property. The guy who's mowing your land or the woman who takes out your trash could file a suit against you for injuries sustained on your property. Liability insurance can cover you against such claims. Liability insurance also encompasses errors and omissions insurance, which protects your business in the event that an error causes financial harm to another. (erros and omissions is an added form of liability insurance and is not included with general liability coverage).
  • For those seeking commercial insurance RI, it's important to first learn which insurance is required by law in order to operate a business. Insurance beyond that serves to help your business thrive no matter what happens. A little money on a monthly premium can make a big difference down the road. Some insurance companies offer Rhode Islanders package deals on business insurance, so be sure to shop around.