Category: Commercial Insurance

The Colorado Springs, CO area continues to be a quickly growing part of the country. If you are going to start a business, this growth can make it a great area for you to start a business. If you would like to start a company in this area of the state, getting proper insurance continues to be extremely important. There are a few reasons why you need to get commercial coverage when you are here. 

Insurance is Required

One of the reasons you need to get commercial insurance for your business is that it is required. Most people that start a business will need to comply with different insurance requirements. Depending on your situation, you may need to meet commercial insurance requirements set by your bank, landlord, investors, or other interested parties. Not complying with these requirements could lead to an insurance requirement violation. 

Insurance Protects Company

Even if you do not have commercial insurance requirements, you should still get coverage. A full commercial insurance plan is the best way to protect your company. If you get a commercial insurance plan, it will give you the needed coverage to repair or replace your business assets and protect against the risk of liability. Ultimately, this insurance can keep your company solvent. 

A business in the Colorado Springs, CO area that wants to succeed needs to ensure that they get proper insurance. Since picking a commercial insurance plan can be complicated, it would be wise to call AmPro Insurance LLC to discuss your needs. The team with AmPro Insurance LLC understands how complex this type of coverage is. We can help by assessing your situation and building a policy that is appropriate for your situation. 

When you operate your business, it is vital to have the right commercial insurance to protect you as a business owner, the company itself, your employees, and all business assets. However, choosing proper commercial insurance is not the most straightforward task despite all the false information that business owners are bombarded with. AmPro Insurance LLC, serving clients in Colorado Springs, CO, has prepared the list of most common myths that every business owner should be aware of: 

There is no need for commercial insurance for a home-based business.

Unfortunately, the truth is that your standard homeowners’ insurance does not cover your home office and its contents. Anything about your business needs to have additional coverage, even if it is located in your house. Therefore, if you operate your business from home, it is essential to notify your insurance company about it to make the necessary adjustments. 

Vehicles used for commercial purposes are covered automatically.

Many people assume that if they use their personal cars for business purposes, they do not need any additional insurance. All vehicles used for work need to have separate coverage – commercial auto insurance.  

You do not need to purchase workers’ compensation insurance if you do not have any employees.

There is nothing wrong with running a business by yourself without any employees, as long as you can stay organized and focused. However, it does not mean that you should not carry workers’ compensation. It is still beneficial to purchase this type of coverage for yourself. It will help you protect yourself from lawsuits and claims against you. 

If you are thinking about commercial insurance for your new business or update the current policy, AmPro Insurance LLC, serving Colorado Springs, CO, will be happy to help you. Our knowledgable and experienced agents will answer all your questions and provide you with the information you need. All you need to do is to visit our website or give us a call. 

Commercial insurance isn’t just for businesses that have a commercial location such as a warehouse, retail store, or office. Home-based businesses can also benefit from the commercial coverage that AmPro Insurance LLC has to offer. The following coverage is highly recommended for business owners who operate a business from their Colorado Springs, CO home.

Property Coverage

If your home business uses a computer, printer, fax machine, business phone, answering machine, or other business equipment, you can protect these items with commercial property insurance. Property coverage also protects your business products if they’re stored at home. If these items are stolen or destroyed by fire, flooding due to faulty plumbing, lightning strike, or other covered peril, property coverage will compensate you for your loss.

Even though your business is run from your home, home insurance offers minimal, if any, protection for products or equipment related to business. In contrast, commercial property insurance is specifically designed to protect business equipment and inventory, whether it’s located at a commercial site or in your Colorado home.

General Liability

If clients or customers come to your home for business purposes, commercial liability is a must to protect you against work-related accidents on your property. You never know when a client will have an accident when visiting your home-based business. If an accident occurs, commercial liability will protect your business assets by covering his or her medical costs. It also protects you against a lawsuit if you’re sued for damages.

Business Interruption

A power outage after a disaster could bring your home business to a halt, causing you to lose valuable revenue. Business interruption coverage replaces lost revenue and covers essential business expenses to keep your business from going under.

To learn more about commercial insurance coverage for home-based businesses, contact AmPro Insurance LLC in Colorado Springs, CO.