Commercial Insurance in Alabama

As a business owner in Alabama, Mississippi, Tennessee, or Texas, you already know how it takes effort and resources to make it successful. That is why you are willing to do anything not to compromise your bread and butter. One way to do that is by insuring it. Commercial insurance offers your business a safety net, allowing you to focus on essential things that you can control. At Magic City Insurance Group LLC in Vestavia, AL, we work with business owners to ensure their companies are well-protected. Before you buy commercial insurance, here are some things you need to know.

Your Legal Obligations

It is important to understand what policies you are legally required to implement when opening a business. For instance, business owners in Alabama must carry workers' compensation insurance as long as they have hired five or more employees. This coverage is essential when one of your employees suffers a work-related injury, as the policy will cover medical expenses resulting from that injury. There are many other types of business insurance, like commercial auto insurance, business income insurance, commercial property insurance, and commercial general liability insurance. To avoid any legal issues with the authorities or business closure, check the types of commercial insurance you are required to have.

Potential Threats in Your Area of Operation

Consider your field and assess which threats you are likely to encounter. For instance, if your company uses a car to run operations, you will need commercial insurance. If the security in the area is not that great, you may want to consider commercial property insurance.

Check The Policy Exclusions

As much as commercial insurance protects your business against specific threats, not all risks will be covered. For example, personal vehicles are not included in your auto commercial coverage even if you use them to go to work. You will need a separate policy to protect it.

If you need assistance in determining which type of commercial insurance you need in Alabama, Mississippi, Tennessee, or Texas, contact Magic City Insurance Group LLC. Our Vestavia, AL agents will help you select the right policies for adequate protection.