As a business owner, you want to find the Denver, CO commercial insurance that is appropriate for your goals and concerns. Seeking assistance from Colorado insurance agents can provide the tools and information you need to narrow down the options and find a policy that is appropriate for your business.
A business owner package, which is also called a BOP plan, is designed to address your main concerns as the owner of a company. It provides some basic coverage for company assets and liability risks.
When you own several cars that your employees can access or when your business is related to the transportation industry, the state will require that you purchase an auto insurance policy. Commercial auto coverage is designed to address your specific concerns, but the best plan depends on the situation. Generally, you will need to meet or exceed liability standards to avoid legal concerns.
A CGL plan, or a commercial general liability plan, is specifically related to possible risks that may arise. It will help pay for property damages or injuries that occur on company property or as a result of company products or services.
If your business owns property, then you may need coverage to protect the property. The amount of coverage that you need depends on the type of building, the risks associated with the land and the assets that are kept on company property.
If you hire any employees, then you are required to purchase worker's compensation insurance in Colorado. Coverage is required by the state for most employees and the exceptions are limited. Even if you only have one worker, you must obtain a plan to protect against injuries and accidents.
The coverage that you need when you own a business depends on the nature of your company and the assets that you own. An agent can help you narrow down the choices so that you have the best plan for your situation.
