Commercial Business Insurance in Chandler Arizona
We cover Chandler, Mesa, Queen Creek Awatukee, Tempe and Phoenix, and all of Arizona
Business Commercial Insurance
Steps To Take To Insure Your Commercial Business
Arizona Commercial Property Insurance
Commercial property and liability insurance are good for your business. Business property coverage – is an valuable investment that covers the physical components of your business. Liability coverage – is protects you if someone makes a bodily injury, personal injury or property damage claim against your business.
You will need to take inventory of all the items in your building that you want to be covered under your commercial insurance. You should make a detailed list of each item, find out what its replacement value is and take photos of everything. Insure the following items, if you have these:
Computers, Phones, Printers
Furniture
Business records and other valuable documents
Inventory kept on hand in the building
Equipment used in manufacturing or processing
Outdoor features, such as signs and landscaping
The building
If your business is insured, you will receive pay for the cost of repairs or replacement of your damaged or stolen asset. You will receive such pay in one or two ways: replacement cost or actual cash value.
Replacement cost (RC) is the amount of money needed to rebuild or replace the building or item without deducting any money for depreciation. Actual cash value (ACV), on the other hand, is the amount of money the company will offer you to repair or replace the property or lost item accounting for depreciation.
It is generally less expensive to insure your business’s assets with actual cash value policy. However, if your business or your business’s assets sustain damage or are destroyed, you might not receive enough money to repair or replace them, or restore them to how they were before the disaster.
Commercial Business Insurance in Chandler Arizona
Components of a Business Insurance Policy
The type of policy you need is determined by the type of business you own and how you operate it. Business Insurance in Chandler may contain a combination of the following components:
General Liability Insurance
Protects your business in the event of a bodily injury, property damage or personal injury claim. This type of coverage is important for any business, it’s especially important for small business owners who might be financially unable to handle a lawsuit.
Professional Liability Insurance
Also called errors and omissions insurance. It will protect you if you are sued for negligence in connection to your business. It can cover your business in case of copyright infringement, personal injury like libel or slander, and alleged or actual negligence. It can also cover defense costs if you are sued for any of these acts.
Workers’ Compensation Insurance
This policy is mandatory, which means you need to have purchase it this whether you like it or not. This type will cover your employees’ medical expenses and a portion of lost wages if they are injured on the job or, in some cases, if they become ill due to an occupational disease. It is always to your advantage if you’re insured for workers’ compensation.
Other components of business insurance that you may choose as part of your policy include identity theft coverage, electronic data and equipment coverage, and employment practices liability, just to name a few. We can help you decide what combination of coverage is the best fit for your business, and since we shop more than 40 reliable insurance carriers, we can make sure you get a great value.
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Office
600 W Ray Rd Ste A3
Chandler, AZ 85225
Hours
M-F: 9am – 5pm
S-S: Closed
Call Us
(480) 855-4114