Commercial Auto Insurance

Every business faces risks, but for small businesses that operate on much tighter margins, a single mistake can have devastating financial ramifications. Few small businesses can afford to pay legal fees or medical expenses out-of-pocket if a client or employee is injured on the premises. Small business insurance provides financial protection against losses that arise from everyday business operations. 


Finding the right insurance for your small business can be challenging. That’s why we’re here. Call Clockwork Insurance Services and speak to an insurance agent today. 

What Does Small Business Insurance Cover? 

Small business insurance, which is also called commercial insurance, protects your business equipment and income from costly damages or interruptions. It also pays for claims alleging your business caused harm to a third party (e.g., bodily injury, property damage). One of the most common types of small business insurance is a business owner’s policy (BOP), which includes the following coverages: 

• General liability insurance pays for claims that your everyday business operations caused bodily injury, property damage or personal injury (e.g., slander, defamation) to a third party (e.g., customers, clients, business competitors). 
• Business income insurance, also known as business interruption insurance, replaces lost income (e.g., payroll, mortgage) if property damage prevents your small business from operating. 
• Commercial property insurance repairs or replaces business property if theft, fire or another covered loss results in damage. These policies protect your building space, equipment and other property you used to operate your small business.  

Speak to your insurance agent today to learn if this coverage will be sufficient for protecting your small business. You may want to consider adding the following insurance coverages to your small business insurance plan: 

• Workers compensation insurance is required in most states to pay for your employees if they experience a work-related injury or illness. 
• Commercial auto insurance helps to protect you and your employees while driving for your small business. 
• Professional liability insurance, also known as errors and omissions insurance, covers your small business from lawsuits alleging mistakes were made. 

Additional coverages may also be available. Contact Clockwork Insurance Services for more on our full coverage solutions.  

 

How Much Does Small Business Insurance Cost? 

The cost of your small business insurance will vary with many factors. Here are some variables which will impact your premiums: 

• Payroll and size—If your small business has many employees, high revenue and a large payroll, it will likely cost more to insure than smaller businesses in the same industry. 
• Industry risk—High-risk industries should expect higher premiums, as the likelihood of accidents and lawsuits will be greater. 
• Experience—If your small business has a long history of operating without incident, you will likely pay less for premiums than comparative businesses with previous claims and lawsuits.  

 

How Do I Find the Right Small Business Insurance? 

Choosing an insurance package to fit your small business needs can be challenging. That’s why we’re here to answer all of your insurance questions. Contact Clockwork Insurance Services today for more information and a free quote.