Commercial Insurance

Let’s face it. You need to have your business properly insured. Otherwise, you’re at risk for losses that may damage or even bankrupt your company.
Colorful Hard Hats - Commercial Insurance

Losses can arise from all sorts of circumstances. Here are some examples:
  • Customer Lawsuits
  • Work Accidents
  • Loss of equipment
  • Automobile accidents
  • Equipment or product malfunctions
  • Employees lawsuits
  • Cyber attacks
  • Property damage
Having the right mix of insurance for your company means protection and peace of mind. But how to do you know what products and coverages you need?

You need to start by making sure you have the bare minimum coverage required by law. Each state has its own requirements.

Ohio Requirements

In Ohio, for example, small businesses are required to carry Workers Compensation Insurance. Even if they have just one employee.

Unlike many other states where a company can buy a policy from a private insurer, Ohio businesses must buy from the Ohio Bureau of Worker’s Compensation.

Businesses in Ohio are also required to purchase commercial auto insurance. Your business must meet the state’s bare minimum requirements or you could find yourself in legal hot water.

Some policies such as commercial property insurance and general liability are optional.

Yet you will probably need to buy them anyway because certain contracts require you to have these policies in place. A commercial lease is one example.

You may also find that your clients require certain coverages before they will enter into a contract with you.

Other Type of Insurance

There are other types of insurance you may want to consider. Your needs will vary based on the type of business you have.

For example, a business that stores personal information on clients, such as credit card numbers, may want to purchase a cyber liability policy. This could be even more crucial for a company that deals with regulatory privacy laws, such as a health care provider.

How can you decide which mix of policies is right for your business? Some policies you’ll want to consider include:
  • General liability insurance
  • Commercial auto insurance
  • Worker’s Compensation Insurance
  • Builders Risk
  • Professional Liability (E&O Insurance)
  • Contractors pollution liability
  • Inland Marine Insurance
  • Loss of income insurance
  • Umbrella insurance
  • Cyber Insurance
  • Employment Practices Liability Insurance
As you can see, there are many types of policies to consider. How do you decide which ones you need and which ones you want?

You don’t want to pay for a bunch of policies you’re never going to need. At the same time, you don’t want to leave gaps in your coverage that put your business at risk.

So how do you strike the perfect balance?

An Experienced Insurance Agent

This is where an experienced insurance agent can help. Your agent knows what kinds of lawsuits and claims are commonly filed and how to mitigate the risks.

Some coverages are inexpensive to purchase but may save you a bundle should a problem arise. Paying a little now can save you a bundle in the long run when things happen that you least expected.

A trusted agent can help you customize your insurance portfolio to help you mitigate risks and costs according to your unique needs.

Your agent will take a holistic look at you business and let you give you options.

Insurance can be complex and confusing. But at Kernan Insurance, we explain your policy options in clear, plain English so you know exactly what you’re getting for your money.

You’ll understand what sort of policies you need and all of your options. You can choose the right mix so you can sleep better at night knowing your business is protected.

We Can Help

If you’re looking for the right insurance for your business, we’d love to help. Call or contact Kernan Insurance today for your free quote.

Kernan Insurance Agency

9932 Brewster Lane

Powell, OH 43065

Main office: 614-764-0121
Toll free: 800-718-2663
Fax: 614-764-0310

Office Hours:

Monday - Friday: 7:00 AM - 5:00 PM

Weekends: By Appointment