Is Commercial Insurance a Necessity?

At Karla Salmon Insurance, we have had to talk many Oviedo, FL businesses into purchasing commercial insurance for their business. Many don’t quite understand why these policies are so essential but appreciate buying them once they make the purchase. 

Commercial Insurance is a Wise Investment

Commercial insurance – while not a legal requirement – is typically an excellent idea for most businesses. These policies provide a myriad of benefits. First of all, they help to provide you with financial help in lawsuits and other problematic situations. This coverage helps to keep your money and your investment safe from loss. 

Secondly, commercial insurance is designed to not only protect your investment but keep your company running as well. These benefits are critical if something causes your business to shut down. Without this help, you’ll find yourself without income and struggling to stay afloat and may even trigger bankruptcy.

Policy Types to Purchase 

Commercial insurance comes in many different policy types. The first type you’ll want is a general liability, which helps to protect you from lawsuits if somebody is injured as a result of your business operation. Auto policies are also a great idea if you own company vehicles. 

Other types of policies to consider include life insurance, disability insurance, and workers’ compensation. These all help to keep your employees safe and protect you from their lawsuits. And business interruption insurance pays you if a disaster makes your business impossible to run and you lose profits.

How to Find Great Policies

If you live in Oviedo, FL and you need commercial insurance, please contact us at Karla Salmon Insurance. Our experts have years of experience helping people like you and will work hard to ensure that you get the high-quality policy that your business needs to stay protected. 

Will Commercial Insurance Cover My Commercial Vehicles?

When it comes to commercial insurance, many business owners may think that their commercial vehicles are automatically covered. Many of them may think that their commercial vehicles will be covered under their personal vehicle insurance. However, either one of these scenarios is not true. And it will be a very unpleasant surprise if you get into an accident in a business ride.

Having said this, it’s imperative to get commercial insurance for vehicles.  Regardless if your business included deliveries, rideshare drivers, chauffeurs, or other, you need commercial vehicle insurance for cars/trucks you use for your business. 

Commercial vehicle insurance covers the property inside the vehicle as well from theft or damage.  Also, local laws dictate the minimum amount required for commercial auto insurance. So, if you stay anywhere in Florida, for instance, there may be laws relating to commercial vehicles than in a different climate like Washington, D.C.  

So, if you stay in Oviedo, FL or other places in that state, you will need an insurance company that specializes in commercial auto insurance for that state. Karla Salmon Insurance is the one to turn to.  Located in Oviedo, FL, Karla Salmon Insurance has several years of experience in this industry. They are highly trained and licensed with tons of years of experience. They also have  So, if you stay in Oviedo FL, or other places in that state, you will need an insurance company that specializes in commercial auto insurance for that state. Karla Salmon Insurance is the one to turn to.  Located in Oviedo, FL, Karla Salmon Insurance has several years of experience in this industry. They are highly trained and licensed with tons of years of experience. They also have  

Does My Commercial Policy Cover Hurricane Damage?

Business owners in Florida need commercial insurance to protect their business from different types of financial loss, including liability and theft. While commercial insurance covers many things, one thing it won’t cover is hurricane damage. Hurricane and flood damage are separate policies that must be added. The agents at Karla Salmon Insurance work with business owners in Oviedo, FL when it comes to making sure their business is fully protected.

Commercial Policies

Commercial insurance policies are written to protect businesses from various types of loss. This can include liability that results from injuries sustained in slip and fall accidents, product defects/malfunctions, theft, and vandalism, just to name a few. These types of policies normally do not cover weather-related damages or damages sustained by sewer malfunctions. Those damages are normally covered through a protection plan from the local utility company.

Hurricane Coverage

Florida is a state known for hurricanes and strong storms. Insurance companies offer hurricane and flood insurance to businesses in addition to the regular commercial policies that can be purchased. In most cases, hurricane and flood insurance policies are sold separately from one another. Hurricanes are known for high winds, excessive precipitation, floods, and storm surges. The types of damages caused by this type of event can be extensive, requiring massive renovations and, in some cases, complete re-builds.

At Karla Salmon Insurance, the agents can explain the different types of policies and which ones will offer the most benefits to your business. If you live in the vicinity of Oviedo, FL, call and schedule an appointment today to find out about the different policies that are available to protect your business.

What Will a Commercial Liability Policy Not Cover?

A commercial liability policy is a great general policy to have for your business in Oviedo, FL, but there are some things it won’t cover. An agent at Karla Salmon Insurance can help you put together a commercial liability policy that will cover many of your business risks, so you have well rounded coverage.

  • Workplace Injuries: General liability will not cover employees who are injured in the workplace. Instead, these injuries will need to be claimed under workers compensation coverage.
  • Damage to Your Own Property: Your liability policy will cover costs if you damage someone else’s property, but it won’t cover any damage to your own property. Instead, you would need a commercial property policy.
  • Intentional Damage: If any damage were done on purpose, or with malicious intent, it would not be covered under this policy.
  • Damage to Client Property in Your Care: If you have customer property that is in your care, your liability policy will not cover any damages. You may need other property coverage or policies to have this type of protection.
  • Professional Mistakes: Any mistakes that are the fault of your business are not covered under this policy. For example, if your company misprints 1,000 books, your general liability won’t include a reimbursement. However, there could be some other policies that will cover these types of claims. In addition to mistakes, this policy won’t cover any errors in services. If a marketing company is consulting with a small business and the small business loses customers after launching a campaign, then this type of claim against the marketing company won’t be covered.
  • Damages to Company Vehicles: If your business has company vehicles, you will need a commercial auto policy. Any damages that occur won’t be covered under a commercial liability policy.

Contact Karla Salmon Insurance, serving Oviedo, FL, to get a quote on commercial insurance.

Weathering the Storm with the Right Commercial Insurance

When you live and work in the Oviedo, FL area, you can expect to live through a hurricane every few years. While it might seem like the upheaval that comes with preparing and cleaning up after an extreme weather system only causes havoc for your business, there is a way that Karla Salmon Insurance can minimize the impact on your company with commercial business interruption coverage.

Ask About Business Interruption Coverage

This is part of your standard commercial insurance policy, but you may wish to expand the circumstances listed for when you can file a claim on it. If your store has to close due to a covered peril, this form of coverage kicks in to keep your company afloat.

Pay Your Bills Even when the Store is Closed

Just because you can’t open your doors, that doesn’t mean your vendors don’t expect to get paid. Your business interruption coverage will allow you to stay up to date on all your bills and maintain your reputation within the business community. This coverage can also help if the city needs to conduct emergency repairs right outside your door, preventing you from conducting business.

Resume Business as Usual After the Clean Up

Even if a hurricane significantly damages your community, that doesn’t mean you have to go into the red to recover. Once the evacuation order is lifted, your parking lot is cleaned up, the power restored, and the worst of the damage repaired, all you have to do it start the operation back up again. Give Karla Salmon Insurance a call today and ask how a commercial insurance policy with business interruption coverage can help your Oviedo, FL business survive a catastrophic weather event. We look forward to hearing from you.

In What Cases is Commercial Insurance Required?

Commercial insurance is something that all business owners can benefit from having but is it required by law?

For those in the Oviedo, FL area, the agents with Karla Salmon Insurance can help you determine if you have to have a commercial policy or if you can get by covering your business with another type of insurance.

For starters, it is a good idea to learn what commercial insurance is. Commercial policies are taken out to protect business owners from theft, destruction of property, disasters, employee injury, lawsuits, and more. This type of policy can only be taken out on businesses and cannot be used to cover other things. If you have a business, it is always a good idea to make sure it is covered in some way or other by an insurance policy. In some cases, your company may be covered by your property insurance, your homeowner’s insurance if it is a home-based business and more.

Generally, the only time you would be required to have an insurance policy on a business is if you owe money on the property. If you owe on the building that the business is housed in or if you have taken out a loan to pay for the goods to stock the store, you are likely going to be required by your lender to have some insurance in place to protect the investors. Also, this is to help make back the initial loan amount should something happen to your business. If you own a business outright, you are not required to have insurance, but it is always smarter to have a policy and not need to use it than it is to go without a policy and need one.

For those in the Oviedo, FL area, the agents with Karla Salmon Insurance can help you find the right policy.

Will Commercial Insurance Cover Cyber Fraud?

While we may be used to hearing about the major hacks in the cases of big businesses, there’s another threat out there for all business owners that may not be as readily apparent. When it comes to small businesses, cyber fraud has never been more prevalent. As the risks grow, commercial insurance policy owners in Oviedo, FL need to become aware of just how devastating it may be to go through a hack, and whether or not they have enough insurance protection to cover it. 

Cyber Fraud and Commercial Insurance 

The short answer is that commercial insurance will cover cyber fraud if an owner experiences a hack. The long answer is that most business owners don’t have enough protection when it comes to covering all their potential losses. There are many ways that business owners may be held liable when it comes to cyber theft. It’s not just about criminals stealing credit card data anymore. If a hacker is able to get into your system and steal the personal details of your customers, they may commit identity theft in the form of anything from medical to financial fraud. You may be sued as the responsible party for all of the damages your customers sustained, which can instantly wipe out profits or savings. 

Call Karla Salmon Insurance 

For more information about how you can better customize your insurance policy, give Karla Salmon Insurance a call today. It’s our mission to help you find the right coverage based on the risks that you face every day. We’ll ask you questions about your current security to get a sense of how you can make your organization safer from hackers. For more information about how we help business owners in Oviedo, FL, give us a call today!