When you run your own business, you know just how much work has gone into it. You’ve gone the extra mile to build it from the ground up, and the last thing you want to happen is for a minor issue to creep up and cause significant problems with how it functions. Commercial insurance can help with this. But what exactly can commercial insurance cover? At Storey Insurance, we’re able to help address these concerns, so if you live in or around Seantobia, MS, we want to provide you with all the answers and information you need to select the commercial insurance that’s right for you. 

Your Equipment

You don’t need to own a building to own the equipment inside. When your business relies on the equipment, you need to protect it as any shutdown can end up costing you. Commercial insurance can protect this. 

Your Payroll

Payroll insurance helps keep your employees paid should your business need to shut down. Maybe the property floods or the building is damaged, and you can’t work. With payroll insurance, your employees will continue to be paid. This way, your workers won’t suffer as you repair the building and get everything back up to speed. 

Vehicles and Property

You can protect the vehicles you drive and different aspects of your business property with varying commercial insurance coverage. 

Finding Commercial Insurance For Your Business

Your small business is essential, and as such, you need commercial insurance that goes the extra mile to protect it. Here at Storey Insurance, we want to do everything in our power to protect your company, which is why our staff proudly services you in Seantobia, MS. If you have any questions about small business, we are here to help. Give us a call with any questions you might have. 

Growing and expanding a business are critical goals for most entrepreneurs and business owners in Seantobia, MS. Regardless of the business type and size, it is always an exciting proposition. However, it also means increased business risk exposure and insurance needs.

That answers our question of whether you need to increase your commercial insurance every time you expand your business. Storey Insurance is here to help you throughout the process.

Workers compensation may increase

It is almost apparent that your worker’s compensation premiums may go up. This is highly dependable on the number of new employees that will be hired to help with the extra workload. Workers’ compensation insurance rates are typically based on the wages and salaries of the employees.

Increased work-related risks

Workers’ compensation reimburses employees for the income lost due to work-related injuries. More employees mean more risks on injuries to the employees irrespective of the type of business. This is likely to increase your premiums by your commercial insurance provider.

Changes in the nature of the business

There are high chances that your core business operations may change. For instance, if your business primarily dealt with wholesale products, you may want to buy vehicles for delivery purposes. Your insurance provider will need to increase your insurance to cover for the cars as well as the new drivers.

Expanding outside Mississippi

If you intend to grow your business into a neighboring state, get prepared to buy more than one commercial policy. Depending on the nature of the business, you may not need to buy two separate commercial policies but two worker compensation policies.

Speak with your Storey Insurance agent before taking a step on expanding your business. For policy inquiries and quotes, visit us in Seantobia, MS today!