In Pennsylvania, business owners who need to protect their investment more fully purchase several commercial policies. The coverage protects their properties and interests. Select policies lower the impact of a financial loss. A local Insurance Agency in McKeesport PA provides commercial policies for all business owners.
Commercial Property Coverage
The commercial property insurance provides financial assistance if the property is damaged or a total loss. The insurance provides funds according to repair estimates received by contractors. The policy itself provides either the market value or the true replacement value when the property is damaged completely. The insurance covers most natural disasters, fires, and criminal offenses such as arson or vandalism.
General and Global Liability Coverage
General and global liability coverage assist when liabilities emerge. Common issues include on-site accidents where visitors or customers are injured. The premise liabilities could lead to a lawsuit if the individual’s injuries are severe. The liability insurance provides a settlement if the claimant wins their lawsuit against the company. The purpose of the coverage is to lessen the burden of a potential financial loss.
Worker’s Compensation Insurance
Worker’s compensation insurance provides medical benefits for injured workers. The medical benefits pay the full cost of the worker’s treatment, physical therapy, and any additional services that are needed for their recovery.
The policies also provide monetary benefits for all workers who aren’t able to return to work immediately. The monetary benefits range from eighty to ninety percent of the worker’s wages. The worker receives the benefits on the starting date identified in the letter sent to them by the insurer. The letter also explains how long the worker receives the benefits.
Commercial Auto Insurance
Commercial auto insurance pays for damages caused by accident and damaged goods inside the vehicle. The coverage level selected by the business owner defines exactly what the policy does.
In Pennsylvania, business owners choose liability, property, and worker’s compensation policies most often. A local insurer can also provide group-rate health insurance for the company’s workers. Auto coverage is also available for business owners, too. Business owners who need to review policies available through an Insurance Agency in McKeesport PA contact E.F. Barrett Agency Inc. now.
