A business owner has to make sure that they are carrying the necessary business insurance in New Haven CT policies or they risk losing everything to a lawsuit. Worker’s compensation insurance guarantees that a worker has their medical costs covered, as well as a portion of their salary, while they recover from a work-related illness or injury. If the person will never fully recover, then they are given a lifetime settlement. While the insurance may seem expensive to a small business, it protects them from being named personally with a large lawsuit.
If the company is in the construction or home repair sector, homeowners may require that the owner provide proof of worker’s compensation and liability insurance. They want to make sure that if a worker is injured on their property that they won’t be held liable. Therefore even if it’s an extremely small company, it can lose business if it doesn’t fully insure itself.
Contracting, delivery and other service companies often require their employees to drive trucks inscribed with their company name. Not only is this good advertising, it provides the homeowners a sense of security when the arrive. These businesses have to make sure that their company has the proper automobile insurance to protect their company in the event that their employees are in an accident. The insurance agent also can help the company draw up sound policies about the use of company vehicles. It can stipulate that no family or friends will be in the car, that the car will only be used for business uses and employees must obey all traffic law. These items may be obvious, but the company is in a better legal position if they write down the rules.
Even small business that are located in a person’s home may need a Business Insurance New Haven CT policy. This is especially true if they have their own entrance and separate area in the home. If a client or customer is injured, the homeowner’s policy might not cover them. If a storm damages the part of the house that contains the business, the homeowner should confirm that the homeowner’s insurance policy will fix it and replace any damaged equipment.
Click here Griffin Insurance, LLC to know more about Business Insurance Policies in New Haven, CT.
