If you are a business owner in Davie, FL,  Zot Insurance Agency is here to meet your commercial insurance needs. Before you purchase commercial insurance, you should consider these four things. 

1. Do I Have Obligations That Require Certain Insurance Coverage?

Obligations that require you to have insurance include laws, lease agreements, and loan contracts. All states require vehicles to be insured. If you use your vehicle for business purposes, you will probably need commercial auto insurance. You may need worker’s compensation insurance if you have employees. Lenders often require you to ensure the collateral of the loan. When you lease property, the lessor may require you to have property insurance. 

2. Do I Need Insurance to Gain Clients or Perform Work?

Some businesses need specific insurance policies to perform their work, particularly if they work with vendors. Other businesses may have to meet insurance requirements to complete licensing. You may also be more attractive to clients if you have insurance. For example, construction and repair businesses are seen as more credible when they have commercial insurance coverage. 

3. Do You Need Professional Liability Insurance? 

Some businesses benefit from protection beyond the standard policies. Professional liability is important if a mistake in your work can be costly. Doctors, architects, and lawyers are a few examples of businesses that need professional liability. Your standard liability policy covers accidents. It does not cover damages for mistakes with your product or service. 

4. Do You Need Business Interruption Insurance?

If you own a physical business, you should consider business interruption insurance. if your place of business is damaged and needs repairs, you will still have bills to pay. Property insurance will cover the damage to your building and inventory, but it will not cover your business losses while your business is closed. Business interruption insurance can help you stay afloat until you are up and running again. 

Commercial insurance isn’t just for large businesses. Small businesses can also benefit from the right commercial insurance policies. At Zot Insurance Agency in Davie, FL, our agents will speak with you about your business and help you select the policies you need.