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Commercial Insurance in Montgomery County: What You Need to Know

By April 25, 2023May 16th, 2023Commercial Insurance, Insurance

From writing out your business plan to securing startup capital, you built your business up brick by brick — all while the fire of the American Dream burned brightly in your soul.

Purchasing commercial insurance is like adding more wood to the flame — it keeps the fire rolling.

Commercial insurance protects all you have worked so hard to build. There are a variety of commercial insurance options in Montgomery County to choose from; the key to success is partnering with an experienced insurance agency that can create a customized insurance package based on your specific needs.

Required Commercial Insurance Policies in Pennsylvania

Workers’ compensation insurance

The Pennsylvania Department of Labor & Industry requires all businesses in The Keystone State to purchase workers’ compensation insurance to protect all full-time, part-time, and seasonal workers.

This insurance covers employees’ medical bills if they are injured on the job or become sick and provides them with disability benefits if those ailments lead to necessary time off. This policy also often includes employer’s liability insurance that protects you from legal costs if an employee is injured on the job and decides to take legal action.

Commercial auto insurance

The Pennsylvania Automobile Insurance Guide states that all commercially-owned vehicles registered in the state must be covered by commercial auto insurance.

To be in compliance with Pennsylvania law, you must have the following amounts of commercial auto insurance:

– $5,000 for damage to another person or property

– $15,000 for death or injury of one person involved in an accident

– $30,000 for death or injury for more than one person involved in an accident

Recommended Commercial Insurance Policies in Pennsylvania

General liability insurance

General liability insurance protects your business from legal actions if someone outside your company is injured on your property and protects against damage to your building, equipment, and staff.

This coverage could save you from having to pay out large sums of money if you are held liable for damage to another person or their property. Exceptions to this rule include reputation damage and data loss.

While general liability insurance isn’t required under Pennsylvania law, it may be a requirement before some businesses sign a contract with you or allow you to access their equipment.

Commercial property insurance

Commercial property insurance protects your property, including assets like tools and machinery, if stolen, damaged, or destroyed by a fire or natural disaster.

Damage to your property or assets can severely halt business operations — leading to loss of profits and other critical setbacks.

Commercial property insurance in Montogomery County can cover the cost of replacing damaged property and other losses caused by temporarily closing your business.

Freedom Insurance Group, Inc. Is Your Commercial Insurance Partner in Montgomery County

The knowledgeable team at Freedom Insurance Group has over 50 years of combined experience helping Pennsylvania business owners craft customized commercial insurance policies.

Fill out our form to get your free quote for commercial insurance in Montgomery County.