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. 

When it comes to running a business, there are a lot of things to keep in mind. From product development and marketing to sales and customer service, there’s much to stay on top of. And one of the most important things to think about is commercial insurance. Commercial insurance protects businesses from liability in an accident or injury. But with so many different types of coverage available, how do you know which one is right for your business? Here’s a quick guide to finding the right commercial insurance for your business.

1. Understand Your State’s Insurance Requirements

Every state has different insurance requirements for businesses. So, the first step in finding the right commercial insurance is understanding what your state requires. Some states require companies to carry a certain amount of liability coverage, while others don’t have any specific requirements. Once you know what your state requires, you can start shopping around for a policy that at least meets those requirements.

2. Determine What Type of Coverage You Need

There are many different types of commercial insurance coverage available. Some common types of coverage include property damage, liability, workers’ compensation, and product liability. Depending on your business type, you may need one or more of these types of coverage. For example, if you have a lot of employees, you may need to carry workers’ compensation insurance. And if you sell products, you’ll need product liability insurance. Once you know what coverage you need, you can start shopping around for a policy that meets your needs.

3. Get Quotes from Multiple Insurers

Once you know what you need, it’s time to start shopping around for a policy. The best way to find a policy that meets your needs and budget is to get quotes from multiple insurers. When you request a quote, provide the same information to each insurer so that you compare apples to apples. And don’t forget to ask about discounts.

4. Read the Policy Carefully

Once you’ve found a commercial insurance policy you’re interested in, it’s essential to read it carefully. This will help you understand what’s covered and what’s not. And it will also help you ensure you’re comfortable with the coverage limits.

5. Work with an Insurance Agent

If you’re having trouble finding the right commercial insurance policy for your business in Lakewood, CO, you may want to work with an insurance agent. Insurance agents are familiar with the different types of coverage available and can help you find a policy that meets your needs.

Keep these tips in mind when you’re shopping for commercial insurance. By following these tips, you can be sure that you’re getting the right coverage for your business. Colling Insurance Services Inc is here to help with any questions about finding the right commercial insurance for your business. Give us a call today to learn more.

Small businesses in Colorado must comply with the state’s workers’ compensation laws. These laws provide specific protections for employees who are injured or become ill due to their job. Colling Insurance Services, Inc. understands Colorado’s workers’ compensation laws are complex, so we’re here to help small business owners in Lakewood, CO become familiar with them before they open their doors.

How does workers’ compensation insurance work in Colorado?

Workers’ compensation insurance is designed to help cover the costs of medical treatment and lost wages for employees. In Colorado, small businesses must have workers’ comp insurance when they have one or more employees. Most business owners in Colorado purchase workers’ compensation insurance through a commercial insurer or the state-sponsored Workers’ Compensation Insurance Pool. Large employers may self-insure their workers’ compensation risks by obtaining approval from the Colorado Division of Workers’ Compensation.

Colorado Workers’ Compensation Benefits

• Workers’ compensation insurance pays for medical benefits for injured workers. These benefits include:

• Payment of medical bills related to the injury

• Reimbursement for travel expenses related to treatment

• Vocational rehabilitation

In addition, workers’ compensation insurance pays benefits for lost wages for employees who cannot work because of their injuries. The wage replacement benefits are based on a percentage of the employee’s pre-injury earnings.

What are the penalties for not having Colorado workers’ comp insurance?

You could be fined up to $500 per day if caught without insurance. If an employee is injured while uninsured, you will be liable for the entire claim plus a 25% penalty fine. You may also be subject to civil and criminal penalties. The local government might shut down your business until you comply with the law.

Colling Insurance Services Inc. in Lakewood, CO, offers workers’ comp insurance to protect you and your employees. We have the experience and knowledge to help you get the coverage you need at a price you can afford. Call us today to learn more about our workers’ comp insurance options.

Among the many business insurance policies, worker’s compensation cannot go unmentioned. No matter the business type, your employees are prone to injuries. With this in mind, workers’ compensation insurance comes in handy as it compensates for work-related injuries and other illnesses. 

Why should I incur an extra cost in purchasing worker’s comp insurance? Why do I need this coverage, yet I have a safe working environment? If you are not sure about worker’s comp insurance, here are the benefits you accrue when you purchase this coverage from Colling Insurance Services Inc. of Lakewood, CO.

Protects your employees 

The policy ensures that your employees get the appropriate cover in the workplace. The policy cushions against accidents, sickness, and injuries that happen due to work-related issues. The coverage covers:

• Medical expenses
• Death benefits
• Missed wages while the worker is recovering

Protects your business

Any company that values its employees is viewed positively. One sure way to appreciate your employees is getting worker’s comp insurance. This insurance not only boosts the confidence of your employees but cushions your company against lawsuits that employees could file due to work-related injuries. The policy thus protects your business from the financial burden as a result of employees’ work-related incidences. 

It’s mandatory by law

Colorado requires businesses to purchase worker’s compensation insurance. Compliance with this law keeps you off hefty fines and penalties. 

It’s affordable 

Worker’s compensation insurance is essential yet very affordable. While it doesn’t come for free, the cost of this coverage is minute compared to the costs it saves you when the unexpected strikes your business.

Worker’s comp insurance in Lakewood, CO

There you have it, the advantages of having the worker’s comp insurance. If you have a business and employees, better be safe than sorry. Contact us at Colling Insurance Services Inc. for an affordable quote.

In Colorado, there are a lot of different types of commercial insurance that are helpful for businesses of every size, but only two of these insurance types are required. If you need commercial insurance for your business, contact us at Colling Insurance Services, Inc. in Lakewood, CO.

Workers’ Compensation Coverage

When you have any number of employees, even just one, you are required to have workers’ compensation insurance for those employees. If someone does work for your company, the state presumes them to be employees, and workers’ compensation insurance is required for them as well. With this insurance in place, employees who have an accident at work or contract certain illnesses there will have their resulting medical bills paid for by the policy. The policy can also pay them for their wages lost after having an accident or contracting a covered illness. 

Commercial Auto Coverage

If your business owns a car, truck, or other vehicles, the state requires you to have a commercial auto insurance policy on that vehicle. There is a specific minimum amount required for covering the bodily injury liability for a single person who is injured in an accident that is your fault. There is a higher minimum amount required for the bodily injury liability for everyone in the accident. In addition, there is a set minimum required for the property damage liability for the accident. 

Optional Insurance

There are other kinds of policies that you can add to your coverage that can benefit your business. These include insurance types like cyber insurance, business owners’ insurance, professional liability insurance and more. 

Get Your Business Covered

It’s important that your business always has insurance to protect it. There are so many risks to businesses, and the right policies can help. Give us a call at Colling Insurance Services, Inc. in Lakewood, CO to find out more. 

If you’re operating a company and have employees, you may need workers comp insurance. That’s coverage designed to make sure your employees are protected if they’re injured at work. Depending on the kind of workers you have and the type of employment contract they fall under, it’s possible that this kind of coverage won’t be required. That’s why it’s a good idea to reach out to Colling Insurance Services Inc. if you’re in the Lakewood, CO area. Our knowledgeable agents are able to carefully consider your business needs and make sure you’re getting the right type of policy for the work your employees are involved in.

Worker’s comp can also protect you from injury if you’re a part of your business. A lot of owners, especially when they have small businesses, work at their company alongside people they hire. It’s important to make sure you and your company are properly protected, and that your employees will be able to have the type of coverage they need in order to get compensation for any work-related injuries they sustain. They don’t have to work in a dangerous profession to be at risk of harm, and even office workers can have work-based injuries that might need medical care.

Reach out to us today at Colling Insurance Services Inc. if you’re in the Lakewood, CO area and need workers comp insurance. Our trained professionals know what questions to ask in order to make sure you’re getting the right policy to cover your employees and fit your needs. Then you can have peace of mind, and be comfortable with following the employment rules for your business, too. It’s important that you focus on the protection of your company and the people who work there, so your business can thrive for years to come.

If you are in the Lakewood, CO area and want to start a small business, you may find that there is a lot of opportunities to be successful. Those that choose to start a company here do need to spend time finding ways to protect their organization. A great way that any business can do this is by getting a commercial insurance policy. There are a few reasons why business owners here need to have commercial coverage at all times.

Insurance Required by Lenders

For a business that wants to grow and develop, taking out a loan is often necessary. When you do take out a business loan, it will offer you the ability to purchase inventory, hire new staff or invest in the company any other way that you want. However, commercial lenders almost always require that their customers maintain commercial insurance until the loan is repaid in full as it offers valuable protection for the bank. 

Insurance Protects Viability of Company

You will also want to get a commercial insurance plan as it can help to protect the financial viability of the business. With commercial insurance coverage, you will have protection for your company assets and against the risk of liability. This can prove to be extremely valuable and will support your business during some difficult times. 

When you would like to get a commercial insurance plan in the Lakewood, CO area, it would be a good idea for you to call Colling Insurance Services Inc. There are a lot of important decisions that need to be made when you are shopping for commercial insurance and Colling Insurance Services Inc. can make it easier for you. The team is able to help you assess your needs and build a policy that gives your business proper protection.