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Business Insurance in Saint Mary’s, PA

There are many types of businesses, but regardless of size or industry, all organizations must be diligent in assessing their risks and exposures. Implementing sufficient risk management and loss control practices is essential. For every business, an adequate insurance portfolio is crucial to limiting damages and expenses arising from incidents.

Since 2010, the experts at Pacelli Insurance have prided themselves on helping individuals, families and businesses in the Saint Mary’s area understand and address their insurance needs.

What Is Business Insurance?

In most cases, business insurance does not refer to a specific policy but rather a package of coverages capable of providing financial protection for many common situations. By contacting one of Pacelli Insurance’s experienced agents, business operations can be analyzed to determine risk levels, exposures and optimal coverage solutions.

What Does Business Insurance Cover?

While coverage needs for particular businesses may be unique, there are several types of insurance that prove to be invaluable investments for most. In most cases, a business’s insurance portfolio should include the following:

  • General liability insurance can help pay for losses and costs arising from incidents for which the business was at fault that affected third parties, such as the following:
    • Bodily injury
    • Property damage
    • Legal expenses
  • Commercial property insurance, also known as business property insurance, can help cover losses if property items used to operate the company are damaged. This may include the following:
    • Structures
    • Tools
    • Equipment
    • Inventory
    • Signage
    • Furniture
  • Business interruption insurance, also known as business income insurance, can help insulate a company from the following losses and expenses that may arise from a temporary pause in regular operations:
    • Rent/mortgage payments
    • Lost income
    • Employee wages
    • Tax payments
    • Loan payments
  • Workers’ compensation insurance can provide financial assistance for the following damages resulting from an employee being injured on the job or developing a work-related illness:
    • Medical expenses
    • Lost earnings
    • Disability benefits
    • Death benefits
    • Legal costs (e.g., representation, settlements, judgments)
  • Professional liability insurance covers a business if another party accuses them of providing incomplete, inadequate or late services. This coverage may help pay for the following:
    • Damages
    • Representation
    • Disciplinary proceedings
    • Missing income
    • Subpoena assistance

Although the aforementioned coverages may be advisable for most businesses, organizations should consider additional policies. Depending on operations and unique circumstances, the following may also be necessary:

  • Commercial auto insurance
  • Cyber liability insurance
  • Employment practices liability insurance
  • Directors and officers insurance
  • Inland marine insurance
  • Commercial umbrella insurance

How Much Does Business Insurance Cost?

Given how businesses vary, it’s no surprise that their insurance needs and costs can also span an extensive range. Our agents must carefully consider each company before being able to provide an accurate quote. In general, this will include an analysis of the following factors:

  • Location
  • Operations
  • Size of workforce
  • Assets and revenue

Specific details of a business and insurance portfolio may also significantly impact premiums. Past claims, policy limits and the types of coverage purchased all have an influence.

Get the Right Coverage

Without sufficient business insurance, a company’s finances and future could be jeopardized by even a single incident or error. Fortunately, the agents at Pacelli Insurance are well-equipped to help organizations protect themselves with optimal coverage solutions. Contact us today to get started.

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