Small businesses in Alabama should have several different commercial insurance types, but only two are required for most businesses. With workers’ compensation and commercial auto insurance policies in place, most small businesses have the coverage legally required to do business in Alabama. If you need coverage for your business, call us at Harris Insurance in Jasper, AL.
Workers’ Compensation Insurance
Some of the smallest businesses don’t have to have this coverage, but any business with at least five employees must keep this insurance. The five employees may be part-time or full-time, and they include members of an LLC or officers of a corporation. This insurance coverage pays the medical bills of workers who become injured or get sick while at work. This coverage keeps your business able to pay those bills so that you won’t have to pay out of pocket from company funds.
Commercial Auto Coverage
Any vehicle owned by a business in Alabama has to have a commercial auto insurance policy on it. There is the minimum required coverage amounts for any property damage done by the accident and the amount it will pay for bodily injury for one person and bodily injury for two or more people. This coverage is the only type that will pay for these expenses, as personal auto insurance will not pay out for accidents that happen on the job. This is also a good reason to get a policy called hired and non-owned for any vehicle you use for business but is not owned by the business.
Get Your Business Covered
If your company doesn’t have the proper insurance in place, or you want to add optional coverage types, contact us at Harris Insurance in Jasper, AL to talk to an agent about your needed coverage.