How to Choose the Right Coverage Amount for Commercial Insurance

The type of insurance coverage and the premium you pay depend on several factors. You need to consider the type of business you run, the location, claims history, and the number of employees.

But even after determining these factors, you’re still left wondering the precise type of coverage you need and the amount of money you’ll pay. To understand commercial insurance and the coverage amounts in Oviedo, FL, The Wurzel Agency is here to help. Read on.

What is the Right Coverage Amount?

Commercial insurance aims at protecting a business from financial loss due to liabilities.   

The truth is that every business has unique challenges. There’s no particular figure that a company has to pay for commercial insurance. However, every business needs to protect itself from losses resulting from different risks. Bodily injuries and property damage are common challenges for businesses in Oviedo FL. Such challenges can sink a business if not properly addressed.

One mistake that business owners make is to compare their coverage amounts to the widespread averages on the internet. This is wrong! Your coverage should be customized to your needs. You might be surprised to get lower-than-average premiums. 

Some common coverages for businesses include:

General liability insurance: It protects the business from liabilities of bodily injuries and property damage. If a customer is injured on your premises, this is the cover to protect your business. 

Commercial property insurance: You need to protect your premises structure and the business equipment always with this coverage.

Workers’ Compensation Insurance: If you’ve several employees, then workers’ compensation is a must-have. You need to protect your business and employees. Any employee injured in the line of duty should be fairly compensated by this coverage. 

Get a Quote Today

The Wurzel Agency makes it easy to determine the right cost of coverage. You get to pay an amount that fits the limits of your coverage. Contact our Oviedo, FL agents to get the right coverage at the right amount.