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Three misconceptions about commercial insurance you should know about

Business owners need to be well informed when they make decisions regarding commercial insurance coverage. Luckily, we offer commercial insurance coverage at Harris Insurance.

Unfortunately, there are some widespread misconceptions out there regarding commercial coverage. As a business owner, you need to be aware of these misconceptions. The following are three misconceptions about commercial insurance you should know about.

I don’t need errors and omissions coverage unless I’m working as a doctor or lawyer.

Errors and omissions coverage is a good thing to have if you’re involved with any business that involves giving advice. You could potentially be sued if a client is paying for your advice regarding their health or finances.

Errors and omissions coverage can provide you with valuable protection against expensive lawsuits. 

My homeowner’s insurance coverage will cover me for claims against a home-based business.

Some homeowners who run a home-based business make the incorrect assumption that their home insurance will cover their business activities. This is not typically the case. Homeowners insurance won’t provide coverage for a lawsuit or any liability issue against a home-based business. 

My commercial property insurance will cover flood damage.

If you own a home, you may already be aware of the fact that a standard home insurance policy will not protect against flood damage. Commercial property insurance coverage works the same way.

If your commercial facility is located in an area with flood risk, you should invest in a flood damage policy. Your commercial property insurance will not pay for damage to your commercial property caused by flooding. 

Contact us to learn more about commercial insurance in Jasper, AL. We’re here to answer your questions and provide you with assistance at Harris Insurance.

Why Do I Need Commercial Property Insurance?

Owning a business or commercial investment property can be an excellent idea for anyone in the Jasper, AL area. If you are going to purchase commercial property in this area, you need to make sure that you get proper Insurance in place. There are several reasons why you need to get an appropriate commercial property insurance policy for your asset in Alabama.

Provides Necessary Coverage

One reason why you need to get a commercial property insurance policy here is that it will give you valuable protection for your property. Investing and purchasing a commercial property is a big financial decision. When you get a commercial property insurance policy, you will receive the coverage you need to protect your investment adequately. This includes giving you coverage to repair or replace the building if necessary.

Required by Lender

Buying a commercial property is a very big purchase, and for most buyers, it will require taking out a mortgage. To ensure that their collateral is protected, a commercial property lender will require that you carry insurance at all times. If you do not have this coverage in place, you could be denied a loan, or you could be in default with your bank. 

As you are looking for a new commercial property insurance policy in the Jasper, AL area, it is vital that you speak with someone that you can trust. Purchasing this insurance is a big decision and can seem complicated. To ensure that you are made aware of all of your necessities and options, you should speak with the team at Harris Insurance. The team at Harris Insurance can provide you with the guidance and support that you need to build and choose a policy that will provide ample coverage to protect your commercial property. 

Three Ways to Protect Your Small Business from Theft

After the time and effort you take to establish a small business, the last thing you want is to lose money to theft. Theft – from within or without – can cut into your business profits, hindering your growth and expansion. Commercial insurance from Harris Insurance is one of the most effective ways of protecting your Jasper, AL business. Here are some measures you can take to safeguard your business against theft.  

Make Use of Video Surveillance

Installing CCTV cameras around your business property can help discourage theft, both from within and without. If your employees and customers know you have video surveillance, they’re less likely to commit theft during business hours. CCTV cameras can protect your business when it’s closed as well by deterring breaking and entering when no one is there.

For optimum protection, combine video surveillance with a customized alarm system to reduce your company’s risk of theft and vandalism year-round.

Background Check Your Employees

Perform background checks on new employees before hiring, particularly anyone who will be working with finances or will have access to financial data. Choose employees wisely, taking into account their character along with work experience. When appointing department heads or supervisors, consider workers you know well who have earned your trust over the years. By building a loyal workforce, you reduce your risk of employee theft and fraud.

Purchase Commercial Insurance

Talk to a Harris Insurance agent about commercial coverage for your Alabama enterprise. The right commercial coverage can protect your building, equipment, inventory, and sensitive data against theft, vandalism, fire, and other disasters. You can even obtain a coverage to compensate you for loss of revenue if you had to close down due to a disaster.

For more information on commercial insurance coverage and costs, contact Harris Insurance, serving small business owners in Jasper, AL.

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Jasper, AL 35501

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