If you own a business, you need commercial insurance. However, knowing which policies are right for you can be daunting. We offer commercial insurance policies at Colling Insurance Services in Lakewood, CO. 

1. General Liability Coverage

General Liability insurance protects you from liability claims. General liability covers the costs if your product or service injures someone or damages their property. 

You are also covered for false advertising, copyright infringement, and slander. Most policies also cover your legal expenses if you are sued. 

2. Commercial Property Insurance

Commercial property insurance is similar to a homeowner’s policy. It covers the structure of your building and its contents.

Even if you lease your space, this type of policy is essential. You probably have expensive equipment or inventory. Commercial property insurance covers these items as well. If your manufacturing center, storefront, warehouse, or office is damaged, you’ll have the money to repair or replace the property. 

3. Business Interruption Insurance

It would be best to have business interruption insurance, particularly for small- to medium-sized businesses. If you are unable to open your business for days or weeks, this will seriously affect your bottom line. 

Business interruption insurance is designed to cover the losses of being unable to open your business due to covered situations, including fire or plumbing issues. 

4. Worker’s Compensation Insurance

If you have one or more employees, you are required to have worker’s compensation insurance. If an employee is injured on the job, this policy will cover their medical expenses and lost wages while they recover. 

Commercial Insurance at Colling Insurance Services Inc. 

If you need commercial insurance in Lakewood, CO, contact us at Colling Insurance Services Inc. Our agents help you select the best policies for your business so you are fully protected.

One part of owning and operating a Lakewood, CO business is ensuring the company follows local commercial laws. One such law ensures you are adequately insured with worker’s compensation policies. Worker’s compensation policies are designed to offer employees lost wages and medical reimbursement in case of an accident or illness caused while working. They thus likewise provide employers with work-related injury legal fees and protection from high medical costs. In short, worker’s compensation policies do work to protect everyone, which is a large part of why they are generally mandated by law.

Do I Need Worker’s Compensation Insurance: A Look at the Exemptions

We say "generally" because while most Lakewood, CO businesses will need this type of insurance, there are some exemptions. Our Colling Insurance Services, Inc. team is always here to cut through the noise and get our clients the answers they want about insurance policies. So, if you’re asking whether your business needs to have this type of insurance, our answer is yes, unless:

• You employ casual repair or maintenance workers who earn under $2,000 annually. 
• You employ real estate agents or brokers who are paid by commission.
• You hire independent contractors and not your employees.
• You hire drivers who work with a contract carrier.
• You are a sole proprietor with no employees (you may but are not required to carry worker’s compensation for yourself).
• You have an LLC, and your corporate officers or members choose to exclude themselves (again, you may carry worker’s compensation on their and your behalf but are not required to do so by law).

Learn More With Colling Insurance Services, Inc.

Have more questions about commercial insurance policies? Give our team at Colling Insurance Services, Inc. a call today and let us answer your questions and get your Lakewood, CO outfitted with the right insurance coverage for your needs and budget.