Required Commercial Insurance Policies in Pennsylvania

In Pennsylvania, businesses are required to have two different commercial insurance policies in most cases. These policies are required to legally do business in Pennsylvania, but other commercial insurance types are recommended for businesses of every size. If you need commercial insurance, contact us at Griffith Insurance LLP in West Chester, PA to find out more about these policies. 

Commercial Auto Coverage

As many do, if your business owns a car, it cannot be covered by a personal auto insurance policy. It must have a commercial auto insurance policy in place. This comes with specific minimum coverage amounts for liability for bodily injury for one person as well as a different amount of bodily injury liability for everyone injured or killed in the accident. This insurance must also have a specific minimum amount of coverage for any property damage you are liable for. A specific amount for medical benefits is also required. These minimum amounts are relatively small, and getting more insurance coverage is often recommended for businesses. 

Workers’ Compensation Coverage

If your business has any employees who are not business owners, each of these has to be covered by workers’ compensation insurance. This type of coverage covers your liability for medical bills if the employee should get sick or injured while at work. It is protection for the business, as it pays out those bills you’re liable for. It also protects the employees, as it provides money for their medical bills if they should become sick or injured.

Get Your Commercial Insurance

If you own a business, it should never be without its required insurance. The risk of lawsuits and sky-high medical bills is too much. If you need commercial insurance policies, call us at Griffith Insurance LLP in West Chester, PA to get started.

How does commercial insurance protect a Pennsylvania business?

One dream that a lot of people have is to eventually start and run their own small business. If you do have a small business, finding the right location to operate out of is very important. One market that can be a great option is in and around West Chester, PA. If you do have a business in this area, it is important that you cover it properly with commercial insurance as it can protect you and your business in many ways.

Provide Coverage for Asset Investments

While there is a lot of hard work that goes into starting a small business, there is also often a big investment requirement. One type of investment that you may eventually need to make could be the purchase of new inventory or other business assets. If these were to be lost in a fire or to bad weather, it could be a big setback. Because of this risk, you need to get commercial insurance to protect your assets and investment.

Will Give you Coverage for Liability

No matter how great of service you provide, a small business owner is always going to be at risk for liability. Due to this continued risk, you need to make sure that you are properly covering your business with commercial insurance. When you have commercial insurance in place, you will receive the necessary liability coverage that is needed to give you peace of mind. 

Before you start your company in the West Chester, PA area, you should call Griffith Insurance LLP. The insurance team at Griffith Insurance LLP can help you to find a commercial insurance policy that gives you both the necessary asset and liability insurance coverage. This will provide you and your business with great coverage that properly protects against a variety of different risks.