Protecting your business is a must. The best way to protect your business and employees is by obtaining a commercial insurance policy. You can do that through us here at ProStarr Insurance Agency in Georgia. If you are just starting a business for the first time, it is important to understand what the requirements are for your state. Small businesses alone make up 97.7% of businesses in Georgia. We have served many businesses and are looking forward to serving you as well.
Commercial Insurance Requirements
State laws differ. Georgia is like many other states, requiring both commercial auto insurance and workers’ compensation insurance. Any business that has at least three or more regularly employed individuals is required to obtain workers’ compensation insurance. Regular employees are any employee who works on a regular basis at a business no matter if it is part-time or full-time. This policy will cover both illness and injury-related medical bills.
Commercial auto insurance is also required for any business that has business-owned vehicles. Businesses should obtain at least $25,000 for bodily injury coverage for each person, $50,000 for bodily injury coverage for each accident, and $25,000 for property damage coverage.
Additional Coverage Options
Businesses should consider the following coverages to protect them:
- General liability- This is important because it protects customer property damage and injuries. Commercial leases normally require this coverage.
- Professional liability- This policy protects businesses over client lawsuits and missed deadlines. It is also known as errors and omissions.
- Cyber liability- This will protect businesses against cyberattacks and data breaches. It will cover the costs of legal fees and all other related expenses.
- Business owner’s policy- This is a combination of property insurance and general liability insurance. This is the most popular and cost-effective commercial insurance policy for any business in Georgia.
Visit our ProStarr Insurance Agency website today for a quote. We serve all businesses located in Georgia. If you need business insurance, give us a call or visit our website today.