Preparing a comprehensive commercial insurance plan is essential for protecting your business and its assets. Consider the following factors when creating your plan.

Vehicle Coverage

If your business utilizes vehicles, liability protection for each vehicle in your fleet is crucial. Additionally, you may want to safeguard these vehicles against collisions, damage, and theft. The specific type, value, and usage of each vehicle can influence the commercial insurance coverage required.

Business Premises Insurance

The nature of your business and the goods or services you provide can affect the likelihood of accidents, injuries, or criminal activity at your premises. If your company holds significant value, your risk level may increase. Conduct a thorough evaluation of your facility and identify the items you wish to include in your commercial insurance policy.

Operational Coverage

Your business operations can impact the type of commercial insurance coverage you need. For example, operating heavy machinery or handling hazardous substances may increase risks for you and your employees. Assessing your business operations will help you identify areas of risk and compare various commercial insurance products effectively.

Insurance Agent Services

An insurance agent from August Vincent Insurance Agency is available to assist you. Our agents, serving Crystal Lake, IL, can answer your questions about commercial insurance products and provide valuable advice on obtaining adequate insurance protection.

You have commercial insurance to be covered in case you get sued. However, what happens if the person suing you is as in the wrong as they can be? It is common for some unscrupulous people to attempt a money-making scheme where they pretend to have an accident at someone’s place of business and sue them. They spill some liquid or drop small objects on the floor and pretend to fall over it. There are ways to protect your business against this kind of fraud.

Know It When You See It

The first step to avoid being taken by a falling fraudster is to recognize the signs of a fake injury claim. When someone is genuinely hurt, their first instinct is to treat the injury. If they want to skip right to blaming you, something’s up. Failure to provide medical records is also pretty fishy. It also looks bad if they’ve sued someone for similar reasons in the recent past. They may know where all your surveillance cameras are and deliberately act just out of their sight. There is plenty of video surveillance, some of it hidden. Don’t be fooled by eyewitnesses. They could be in cahoots with the tripper. Tell your insurance company if you suspect a fraudulent claim is being made against you. They will work with you against this.

Contact August Vincent Insurance Agency in Crystal Lake

If you need commercial insurance in the Crystal Lake, IL, area, please contact August Vincent Insurance Agency. Our well-versed and considerate agents are dedicated to finding you the best policy.

As a business owner, you know you need commercial insurance, but what is the best way to figure out what coverage meets your needs? It can be challenging to start your business, and you still need to iron out details and logistics. You have big ideas that are about to come to life. At August Vincent Insurance Agency, serving Crystal Lake, IL, we are here to help you find coverage that protects your business and meets its needs.

Not all businesses are alike; commercial insurance policy types should be cut to size based on the needs of the business. Two of the most common types are general liability and professional liability insurance.

What’s the difference between general liability vs professional liability insurance?

General liability insurance protects businesses from claims of bodily injury or property damage from third parties, such as customers, vendors, or delivery personnel. This is necessary when you think about brick-and-mortar businesses and establishments.

Professional liability insurance covers different types of professional wrongdoing that do not necessarily require a physical location. For example, it covers a business’s mistakes, errors and omissions, missed deadlines, negligence, or otherwise breaches of contract with a client. A dissatisfied customer could bring a suit against a business. 

Some types of businesses may require both types of insurance, whereas other companies may only need one. A freelance editor or journalist who owns and operates a home-based business may not need general liability insurance. Do clients come to their house? These questions can help clarify what insurance your business needs and what could be extraneous. Discuss what’s possible with the August Vincent Insurance Agency, serving Crystal Lake, IL, to ensure the best fit and coverage for the unique situation.

August Vincent Insurance Agency provides Crystal Lake, IL residents and businesses with multiple types of insurance. For example, commercial policies are very important to get right, but too many people make serious mistakes. Let’s examine some of the most common of these.

5 Commercial Insurance Mistakes You Might Make 

Now, it’s okay to admit that you might have made a mistake with your insurance. It happens to people all the time, and it’s possible to find a great option that makes sense for your needs. Just a few errors that you need to watch for when buying commercial insurance include:

1. Picking the Cheapest Policy: Too many companies try to save money by buying the cheapest policy but ultimately cause themselves serious problems by not getting proper coverage. 
2. Ignoring the Policy Paperwork: Read every line of your policy and ask your agent to explain it to you. Boring? Yes, but you’ll know exactly what you’re getting if you take this lengthy step.
3. Not Insuring Income Loss: You can never tell when a disaster will strike and affect your potential income. Insure against this loss to keep yourself in business when all else fails.
4. Failing to Adjust Your Policy: Did your business see major growth this year? Talk to your insurance agent to expand your policy to ensure that everything gets properly covered for your needs.
5. Avoiding Your Consumers’ Needs: Don’t forget that your consumers also have different requirements, and you need to pay close attention to them to ensure you don’t make any mistakes.

Get Help Today 

At August Vincent Insurance Agency, we can help Crystal Lake, IL companies find business policies that make sense for their needs. We’re more than capable of helping you and look forward to supporting your needs. Contact us today to get the long-term help that you need here.