Commercial Insurance in Wisconsin
Starting a business in the busy New Richmond, WI area can be daunting and stressful. Apart from the complex paperwork required, you must also have a solid plan to help generate profits. Most new business owners are often so engrossed in starting and running the business that they forget the most crucial part—insurance. At Choice 1 Insurance Agency, we advise our clients to focus on purchasing different types of commercial insurance as it gives you the peace of mind you deserve when running a new startup.
What is Commercial Insurance?
Also referred to as business insurance, commercial insurance is a policy designed to protect businesses and organizations from certain losses, risks, and liabilities. Commercial insurance is tailored to the business's unique needs, ranging from small startups to large corporations. We recommend assessing your business to know the kind of insurance you need. Commercial insurance protects your business from risks and claims such as property damage, cyberattacks, bodily injury, and data breaches.
Who Should Buy Commercial Insurance in Wisconsin?
Not all business owners in Wisconsin are required to have commercial insurance. Generally, small startups with less than three employees don’t need to carry workers’ compensation insurance. However, if your business involves moving around with a commercial vehicle, you need to get commercial automotive insurance. While there are exceptions, it’s prudent to have this policy to protect your business and finances.
Types of Commercial Insurance
Since commercial insurance is designed to cover different businesses in different industries, there are many types of policies you can get. You can choose what applies to your company and leave those you don’t need. Some of these policies include:
- Professional liability insurance
- General liability
- Workers’ compensation
- Commercial property insurance
- Commercial auto insurance
- Business interruption insurance
Don’t wait for your business to face a disaster. Start acting now by getting commercial insurance for your business. If you’re experiencing challenges choosing coverages that fit your business in New Richmond, WI, feel free to contact our Choice 1 Insurance Agency team for help.