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Commercial Insurance Policies That Every Start-Up Should Have

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You have a lot to think about when launching a new business in Washington, PA. Many first-time entrepreneurs don’t include insurance in their business plan. Yet, getting the right commercial insurance policies can make a difference between success and failure. The Hansen Agency LLC can customize an economical set of policies to protect your new company.

Essential Insurance Policies

Every start-up needs to have several essential commercial insurance policies before beginning operations. Performing a risk assessment during the planning stages can help you determine what types of coverage you need. You can bundle several types of coverage into a business owner’s policy (BOP) to give your new company essential protections. A BOP is an excellent choice for new businesses that have low risk profiles, as it provides broad protection at a discounted price. The most common policies that start-ups should have are general liability, commercial property, workers’ compensation if you have employees, and professional liability if you provide services or advice. This set of commercial policies can help protect you from costs associated with unexpected lawsuits.

Specialized Policies

Depending on your risk profile, industry, and daily operations, you may need additional policies to provide sufficient protection. Commercial auto insurance is necessary if you operate a fleet of vehicles. Personal auto insurance will not protect your employees driving vans, delivery trucks, etc. Cyber liability insurance has become more common as hackers target websites and steal sensitive customer data. It can include credit monitoring and public relations campaigns to manage your reputation. If you have a high-risk profile, consider umbrella insurance. This insurance kicks in when you have exhausted your liability limits on claims covered by other policies.

Protect your new business investment through appropriate commercial insurance policies tailored to your needs. Contact The Hansen Agency LLC, serving residents of Washington, PA, to get started.

3 Tips To Better Structure Your Home Insurance Policy

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Most people think of their home insurance policy as one long document that’s difficult to read and even more difficult to understand. It’s often why people end up with coverage that’s either irrelevant or unhelpful in the case of a disaster. At The Hansen Agency LLC, we’ll look at how homeowners in Washington, PA, can prioritize their insurance so it protects them when they need it most. 

Make a List 

Every homeowner uses their home differently, which is why it’s important to consider the risks. For example, if you have parties every week, you may want to look into higher liability coverage in case of an accident or injury. An umbrella policy can help raise the liability limits on your home and auto policies, giving you peace of mind.

Or, say you have an extensive art or jewelry collection. For this, you can add a scheduled personal property endorsement, which provides broader coverage for high-value items. 

Consider Your Other Structures 

From garages to pools, the other structures on your property matter. For example, if you put in an affordable gazebo, you’ll want to balance out how much you’re willing to spend on insurance to protect it. (It could be cheaper to pay out of pocket to repair or replace it if it’s damaged.)

Talk To Someone Who Knows 

If you don’t want to spend your time reading every line of a long insurance contract, The Hansen Agency LLC is here to help you piece it together. Our agents have seen how different claims work out in Washington, PA. They can help you cut out the excess in your policy and swap in better terms and conditions. 

The Basic Components of Auto Insurance

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If you’re a Pennsylvania driver, state laws require you to purchase auto insurance. Many drivers need assistance finding the right auto insurance policy to meet their needs. If you live near Washington, PA, our team at Hansen Agency LLC is ready to help you get your car safely on the road. Since 2015, we’ve been working with drivers like you.

The Basic Components of Auto Insurance

According to the State of Pennsylvania’s website, there are three basic components of every auto insurance policy. This is referred to as “financial responsibility” for your vehicle. Driving without auto insurance can result in financial and legal penalties, including the suspension of your driver’s license. As a driver, it is your responsibility to provide proof of an active auto insurance policy.

One major component of auto insurance is bodily injury liability, which covers the medical bills of the other driver or their passengers after an accident. Damage to someone’s car or property is covered by the property damage liability component of your insurance. The third part of your auto insurance policy is the medical benefits component, which provides coverage for your medical bills or those of your passengers after an accident.

Call Us for Your Appointment Today

Auto insurance is a state requirement, and it’s up to you to find the right policy for your needs. Our team at Hansen Agency LLC will help you find a policy that offers the best possible coverage at an affordable price. Drivers in the Washington, PA, area trust us for the insurance guidance they need. Call us today to schedule an appointment and discuss your insurance options.

How Many Employees Does Commercial Insurance Cover?

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If you’re wondering how many employees your commercial insurance covers in Pennsylvania, you may have specific questions about your policy. For instance, you might be curious whether your commercial insurance covers all of your full-time employees but excludes your seasonal workers. Here, The Hansen Agency LLC explains what you need to know about commercial insurance in your state and how to find the best terms.

Commercial Insurance in Washington, PA

Commercial insurance is typically divided into specific categories. For example, Pennsylvania requires businesses to have a workers’ compensation policy for all workers, whether they work an hour a week in a short-term internship or are full-time employees. In this case, there is no limit to how many workers your policy covers. You must have protection for everyone, and your policy premium will reflect the number of employees.

Do I Need Additional Commercial Insurance?

Certain types of commercial coverage, such as general liability insurance, are not required in Pennsylvania. However, that does not mean they are not worth considering for employers. Even small business owners in relatively safe industries may face more risks than they realize, and liability can vary based on who you hire. For example, hiring largely inexperienced workers can increase the likelihood of errors or accidents, which can create significant challenges for any business.

If you want to learn more about how your hiring practices can impact your commercial coverage, contact The Hansen Agency LLC today. We help business owners in Washington, PA, navigate not only the types of coverage available but also how the terms align with common scenarios, such as an employee suing for discrimination or a severe injury. With our guidance, you can make informed decisions that support your bottom line.

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