You are not legally required to carry most kinds of commercial insurance for your South Kingstown, RI small business. However, insurance provides essential protection that can help your business recover if anything happens. Capalbo Insurance Group LLC can help you look at the different kinds of commercial insurance so that you can make an informed decision about which protections are right for you.
Workers’ Compensation Insurance
This is the one kind of commercial insurance your South Kingston, RI business is required to carry. As long as you have at least one employee, you will need to have workers’ compensation insurance so that your employee is protected if injured on the job.
General Liability Insurance
Even though you are not required to carry liability insurance, most businesses choose to do so anyway. A general liability policy will protect your business if someone has an accident on your property or is injured by your product.
Commercial Property Insurance
If you have a commercial lease, you may be required to carry commercial property insurance as part of the terms. Commercial property insurance protects your physical assets, such as your building, equipment, and inventory.
Business Income Interruption
You may need to purchase this kind of protection separately. If, for instance, your business is closed for several weeks due to a fire, business interruption insurance can help compensate you for the missed income.
Other Kinds Of Commercial Insurance
The kind of protection you need depends on what kind of business you have. Does your business use cars? Are you licensed? There are different kinds of insurance for those circumstances.
Consult With Us
Protecting your South Kingstown, RI should be one of your top priorities. If you have any questions about how commercial insurance can benefit you, please call Capalbo Insurance Group LLC today.