An independent like WC Insurance Services can be valuable for your Maryland business in multiple ways. As an independent agency, we can review the policies of any company, as we represent the products of many companies. This gives you a choice of coverage at the best possible price. We can customize a business insurance program specifically for your business. When you work with an independent agency you can get your questions answered quickly and even get assistance when making a claim. Let’s take a closer look at business insurance in Maryland.
Commercial Auto Insurance
Like personal auto insurance, commercial auto liability insurance is required in Maryland. Several factors will determine whether personal or commercial vehicle insurance is required including who owns the vehicle, who uses the vehicle and how the vehicle is primarily used. Is use restricted to work hours?
Commercial General Liability Insurance (CGL)
Commercial general liability insurance (CGL) can cover a business against financial loss from claims of bodily injury, property damage, and even injury to one’s reputation caused by slander and libel. It may also protect from harm caused by false or misleading advertising.
Commercial Property Insurance
While specific coverage may vary, generally commercial property insurance will cover the physical structure of a business, its equipment, furniture, and inventory. It may also cover electronics, signage, and valuable paperwork.
Workers’ compensation is designed to protect a business from claims from employees who get a work-related injury or illness either on the business property or while conducting work for the business. In Maryland, all employers are required to have workers’ compensation insurance for their employees. Failure to do so can make your business subject to civil and criminal liability.
Business Owner Package (BOP)
A business owner package policy (BOP) typically will include liability insurance, property insurance, business interruption and continuation insurance along with crime protection. Having all of this coverage in one package makes it more affordable. BOP's can be customized by insurers to suit the needs of specific businesses.
If you would like a review of your Maryland business insurance, contact WC Insurance Services. We can help determine your present coverage and where you may be at risk. We encourage you to visit our website and get an online quote for your homeowners and auto insurance. We believe you will see the power an independent agency can have in saving you money.