Any incident, small or large, can be financially devastating for a business without proper insurance coverage. Fortunately, there is insurance available for the many various risks you may face as a business in Colorado. The insurance policies and coverage you choose to protect your business is one of the most important decisions you will make. Some business insurance policies are required by law while many are optional. At McKean Insurance Agency LLC, we work closely with businesses throughout Parker, Castle Rock, and Franktown, including contractors and general contractors, to customize a business insurance plan that provides the coverage and protection you need.
Commercial Insurance and Business Insurance are general terms that typically refer to the collection of insurance policies available to businesses. A business insurance program can be comprised of many different policies and offer protection for:
- Damage or loss to a business location and its contents.
- Commercial vehicles.
- Lawsuits arising from injury or property damage to others.
- Interruption of normal business operations.
- Benefits for employees who are injured or become sick on the job.
The most common business insurance coverage includes general liability, property insurance, and workers’ compensation. Nearly all Colorado businesses will include this coverage in their business insurance program.
Bodily injury, property damage, and personal injury can occur to third parties while they are on your business premises. General liability insurance protects businesses against claims of negligence and from lawsuits associated with these incidents. Attorney fees as well as damage and medical expenses your business may incur will be covered by this insurance.
Property insurance protects against damage or loss to your physical assets including buildings and their contents. Office furniture, inventory, and outdoor items such as landscaping or signs would all be covered under property insurance. You will be protected from unexpected damages resulting from events such as fire, hail, and other various natural disasters. Property insurance policy typically covers vandalism and theft of property as well.
Colorado workers’ compensation laws protect employees who are injured on the job or who develop a work-related illness. Workers’ compensation ensures employees receive prompt medical treatment and adequate compensation for lost wages. The workers’ compensation system is a no-fault system meaning that employers receive protection from lawsuits that could arise from any employee injuries or illnesses.
There are countless insurance options available for Colorado businesses and it can be overwhelming trying to understand the specific coverage you need to be protected. At McKean Insurance Agency LLC, we build relationships with our clients so that we can fully understand their business, needs, and goals. As Commercial Lines Coverage Specialists and Certified Insurance Counselors, we have the knowledge and expertise to tailor a policy to meet your exact needs. Business insurance options we offer include general liability, business auto, workers’ compensation and employers’ liability, business income, crime, bonds, inland marine, builders risk, directors and officers, errors and omissions, data breach, employee benefits liability, and much more.
Contact McKean Insurance Agency LLC today to speak with our experienced agents about the commercial insurance options you need to protect your business, your employees, and your customers. We offer customized business insurance solutions to local businesses throughout Parker, Castle Rock, and Franktown.