The Crossroads of the West is a bustling hub from Fortune 500 companies to small businesses, but all need commercial insurance Salt Lake City. The right insurance offers peace of mind and a safety net for your business against unforeseen risks. Protect your most valuable assets, employees, and livelihood with the coverage you need to succeed. Here’s what to know and how the team at Do Right Insurance can help.
Why You Need Commercial Insurance Salt Lake City
Commercial insurance is often referred to as business insurance, but both offer comprehensive coverage plans carefully selected to protect your business against risks and liabilities. Some of the reasons you may need commercial insurance include:
Legal Compliance: Depending on your business and industry, you may need commercial insurance. For example, workers’ compensation is legally required throughout the state of Utah and failing to meet your obligations as an employer could directly result in hefty fines and legal complications.
Asset Protection: If your business has assets, including property, equipment, and inventory, you need commercial insurance Salt Lake City. In the event of damage or loss, your commercial policy can step in to repair or replace the assets and keep your business going.
Liability Coverage: All businesses are vulnerable to lawsuits due to negligence, injury, or property damage. Good liability coverage can cover your legal fees, settlements, and judgments to save your business from incurring deblitating expenses.
Business Continuity: When a disaster like a fire or flood hit, business insurance helps keep you up and running without interruption. You can also tap into your policy for much-needed resources to restore your property, equipment, and inventory that may have been lost or damaged during a covered event.
Peace of Mind: Instead of worrying about if your business is protected, commercial insurance Salt Lake City gives you peace of mind. You can focus on your growth and client relationships without worrying about unexpected setbacks.
Types of Commercial Insurance in Salt Lake City
If you’re not sure what type of commercial insurance you need, Do Right Insurance can help find customized solutions to meet your needs. Call us today to speak to one of our agents about the following coverage:
General Liability Insurance
If your company interacts with the public in any way, you need general liability insurance. This cornerstone policy covers your business from claims regarding property damage, bodily injury, and personal injury.
Do you own or rent a property where you do business? Property insurance protects your business premises, equipment, and inventory from covered damage that could be caused by fire, theft, vandalism, or natural disasters.
Workers’ Compensation Insurance
Utah law mandates that most businesses in the state carry workers’ compensation insurance. In the event an employee is injured on the job, this policy reduces your legal liabilities and helps cover medical expenses and lost wages.
Commercial Auto Insurance
If you run a business that uses commercial modes of transportation, you need a policy to match. Commercial insurance Salt Lake City can cover accidents, property damage, and liability claims related to company vehicles.
Business Interruption Insurance
In the event of a natural disaster or covered event, business interruption insurance can help. It helps recover related costs to replace equipment, inventory, and other necessities to keep your business running.
Professional Liability Insurance
Are you a Utah doctor, lawyer, or consultant? You need professional liability insurance, also called errors and omissions (E&O) insurance. In the event of claims of negligence or inadequate service, this policy could cover you.
Cyber Liability Insurance
As technology becomes integral to business operations, cyber liability insurance safeguards against data breaches, cyberattacks, and the resulting financial losses and legal liabilities.
Commercial Umbrella Insurance
A commercial umbrella policy covers you from additional claims and financial damage beyond the limits of your other insurance policies. In the event of a catastrophic event, your business has even more protection to fall back on.
How to Choose the Right Commercial Insurance
The team at Do Right Insurance can take an impartial, customized look to find the best policies and coverage for you. Some of the criteria we look at include, but is not limited to:
Risk Assessment: We can help identify the potential risks and liabilities that are specific to your industry, clients, type of work provided, and business operations.
Regulatory Compliance: We’ll help you find a policy that stays compliant with Utah’s insurance and business regulations, especially regarding workers’ compensation.
Comparison Shopping: In some cases, a bundled approach with multiple policies may work best for your company and budget. We’ll also look at different companies, coverage, and creative solutions to find the most efficient coverage for your business.
Regular Review: When your business evolves, so should your commercial insurance Salt Lake City. We can work with you to ensure your coverage is scaling up alongside your business.
Do Right Insurance believes everyone and every business should have access to quality commercial insurance Salt Lake City, regardless of their budget. The team at Do Right Insurance helps you find policies from various providers that align with your unique needs. Sometimes bundled approaches work best for you and your family, but we also look at various policies to build out the coverage you need at the best possible price. Contact us today for a no-obligation quote on your commercial insurance, Salt Lake City, health insurance, worker’s compensation, and related policies.