☰ ˟
Logo
Employee Benefits Login
We're Here to Help 716-634-7070
  • Home
  • Who We Are
    • About Us
    • Employee Directory
    • Customer Testimonials
  • Refer A Friend
  • Products
  • Claim Information
  • Contact Us
  • Resources
    • Insurance Glossary
    • Frequently Asked Questions
    • HR Management Solutions
    • Blog
    • Defensive Driving
  • Careers
  • Employee Benefits Login
Home > Blog > Business Insurance Coverage for Your LLC
FRIDAY, JUNE 7, 2019

Business Insurance Coverage for Your LLC

Owning a Limited Liability Corporation or LLC allows you some protection between your personal assets and the company’s assets. Yet, it remains important to maintain quality business insurance. No matter what type of business you own, having theimage of business owner in warehouse right type and amount of coverage is critical. The type of coverage you need depends on the type of business and your asks and risks. Here’s a closer look at the factors to think about when buying coverage.

What Does LLC Designation Mean to You?

One of the main reasons to move your sole proprietorship to an LLC is asset protection. When you make this move in establishing your company as its own entity, you create a divide between your personal finances and your business assets.

If someone sues your business for a loss, your personal LLC property has a higher level of protection against their claims. Yet, this type of designation does not help in actually protecting those assets. For that, you need business insurance.

Protecting Your Assets

To choose the best business insurance for your company, start with your assets. What type of assets does your company own? Assets might include:

  • The building it operates in, whether it is a lease or owned
  • The equipment within your business
  • The inventory and stock
  • Computer systems
  • Vehicles the company owns

Choose property insurance to cover all property at your location. If you own any vehicles, a commercial auto insurance policy is necessary as well. Vehicles used for private use, not business, do not fall into this area, however.

Minimizing Liability

The other key component of business insurance is liability protection.

As noted, someone may sue your company. If they do, you could face financial loss. Liability insurance helps to minimize this. It covers a wide range of claims customers or third parties can make against your business. This includes injuries and product defects. Some policies can include claims of unfair treatment by employees and cyber threats as well.

It is important to choose liability insurance at a value high enough to minimize these risks. As an LLC owner, it is important to work with your business insurance agent on this. You don’t want your personal property exposed to these types of risks. That is why comprehensive and high-value liability insurance is so important. It helps protect your company from losses you cannot predict.

Posted 2:16 PM

Tags: business insurance, commercial property insurance, general liability, commercial auto insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2020
  • 2019
  • 2018
  • 2017

  • insurance(14)
  • business insurance(14)
  • life insurance(8)
  • liability(6)
  • cdc(6)
  • coronivirus(6)
  • home insurance(5)
  • auto insurance(4)
  • support(3)
  • service(3)
  • commercial property insurance(3)
  • small business insurance(3)
  • business interruption insurance(3)
  • covid-19(2)
  • home(2)
  • agency(2)
  • new york state(2)
  • general liability(2)
  • business(2)
  • coronavirus(2)
  • maintenance(2)
  • car insurance(2)
  • health insurance(2)
  • workers compensation(2)
  • safety(2)
  • benefits(2)
  • stahlka(2)
  • e and o insurance(1)
  • cares act(1)
  • loss of income protection(1)
  • summer(1)
  • uber(1)
  • new laws(1)
  • doh(1)
  • protection(1)
  • harassment(1)
  • partner(1)
  • paid family leave(1)
  • what does workers comp cover(1)
  • healthcare(1)
  • bops(1)
  • issues(1)
  • retirement(1)
  • commercial auto insurance(1)
  • attacks(1)
  • wealth(1)
  • summer projects(1)
  • new york(1)
  • technology(1)
  • shawn(1)

View Mobile Version

Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Logo
North Towns Office
6724 Main Street
Williamsville NY, 14221
South Towns Office
4250 Southwestern Blvd, Suite 1
Hamburg, NY 14075
SocialCBI button
Home Page| Products| Join Our Mailing List| Refer A Friend| Insurance Glossary| Search Our Site
© Copyright. All rights reserved. Powered by Insurance Website Builder