At Peyer Insurance Group, we understand the difficult decisions that business owners must make day in and day out. One of the most important decisions you will make as a business owner or executive will be the insurance policies selected to protect your business, employees, and customers. Insurance is available for every risk that your business could potentially face. Certain coverage is required by law, while many others are optional, yet equally as important. It is important to remember that what is required by law does not always offer a sufficient level of protection. At Peyer Insurance Group, it is our goal to understand your businesses’ needs to determine which options will offer the coverage and protection that is needed.
Commercial or Business Insurance are blanket terms that encompass a number of insurance options. Typical coverage provided in a business insurance program can offer protection for:
- Damage or loss to a business location and its contents.
- Commercial vehicles.
- Lawsuits resulting from injury or property damage to others.
- The interruption of normal business operations.
- Benefits for employees who are injured on the job.
The most common business insurance programs are workers’ compensation, liability, and property insurance. Nearly all business insurance policies will include these types of coverage.
Workers’ Compensation coverage is a requirement for all businesses in the state of Minnesota with a limited number of exceptions. This coverage is required by law and it ensures that employees receive prompt medical treatment and adequate compensation for wages lost if they are injured or become ill on the job. Worker’s Compensation also protects employers from lawsuits that could arise from such injuries or illnesses.
Liability insurance provides coverage for negligence and/or injury to clients or other third parties. This can include bodily injury, property damage, and personal injury (damage to a person’s reputation or rights). Expenses such as attorney fees, damages, and medical costs would be covered under liability insurance.
Physical assets including buildings and their contents, such as inventory and furniture, are covered under property insurance. Property Insurance covers damages from unexpected events such as fire, strong storms, hail, and other natural disasters. Outdoor items such as landscaping or signs may also be covered in certain cases. Property insurance will allow you resume operations quickly to prevent loss of income.
At Peyer Insurance Group, our goal is to understand your business needs and goals so that we can provide you with meaningful options and sufficient coverage for the risks your business may face. Other commercial insurance options include
- Business Crime Insurance
- Business Interruption Insurance
- Commercial Auto Insurance
- Liability Insurance
- Property Insurance
- Umbrella Insurance Coverage
- Workers Compensation
If you don’t see something that fits your business model, call (763) 566-1030 today for a custom business insurance plan that fits your business or: