Why do small businesses need commercial insurance?

Small businesses form a substantial part of Pennsylvania’s economy, contributing nearly half of all private employees. As a small business owner, insurance coverage can help you meet your obligations—both legal and contractual. Our team at Daniel Fitzsimmons Agency, serving Willow Grove, PA, is dedicated to helping you comprehend your commercial insurance options and structure an insurance plan tailored to your requirements.

Overview of Commercial Insurance

No business is immune from unforeseen incidents, but small businesses, in particular, can be highly susceptible due to less financial support from larger organizations. Adequate insurance coverage against industry-specific risks can provide an additional financial safety net, enabling them to navigate challenging times. The insurance requirements might vary depending on factors like industry type, vehicle use, and employee count.

Some key insurance types that small businesses often require include business property and liability insurance. These can be combined into a Business Owner’s Policy (BOP) with add-ons tailoring to the nature of your business such as Workers’ Compensation Insurance (if you have employees) or product liability insurance (if applicable to your business).

Many small business owners mistakenly rely on personal insurance policies to protect their interests. However, most home insurance policies provide limited coverage for business assets, and personal vehicle insurance policies do not cover business-related activities.

Why Choose Daniel Fitzsimmons Agency?

As a dedicated professional, Daniel Fitzsimmons Agency empowers the small business community of Willow Grove, PA, with customized insurance plans. Our aim is to safeguard your business from the unexpected and secure its vibrant future. Contact us today to discuss commercial insurance options or get started on your plan.