Commercial Insurance

When Should You Buy Commercial Insurance?

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If you are a business owner, then it is time for you to get commercial insurance if you do not already have it in place. Commercial insurance is the best way to protect you and your business. Here at Martin Insurance Team, serving Evergreen Park, IL, we are here to help you make the right decision and get a commercial insurance policy for your business as soon as possible. 

  • You have invested a lot in your business. The last thing that you want to do is find yourself in a bind and possibly losing your business simply because you did not have the right coverage. One wrong move without commercial insurance can result in you losing the entire business that you have worked hard for. 
  • You should protect yourself and your employees. If you have employees, you not only want to ensure that you are protected but you also want to make sure that they are protected. Your employees are valuable and you should protect them as such. 
  • You want to protect yourself against employees. Even though you value your employees, there is never a guarantee that one will not file a claim against you in court. It is a good idea to have this coverage so that one of these claims does not take your business under as a result. 

No matter where you are in the stages of your business, you need to have commercial insurance as a way to protect you and your business. If you are interested in exploring your options and finding the right commercial insurance policy for you and your business, be sure to reach out to Martin Insurance Team, serving Evergreen Park, IL, today. We will help you find the right policy and find one that fits within your budget. 

Do you need commercial insurance when you work from home?

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Commercial insurance is designed to protect your business from losses related to things like theft, liability, and property damage. While the average company owner seeks out indemnity coverage for his traditional brick and mortar establishment, the new age millennial may deem commercial insurance as unnecessary for his work-from-home business. The reality, however, is that homeowners or renters insurance is not enough to cover your company in the event of an incident. You need commercial insurance if you have a home business in Evergreen Park, IL, which is why Martin Insurance Team is here to help. 

What homeowners insurance covers and leaves behind
Yes, homeowners insurance protects if your family gathering turns tragic and someone falls down the stairs. The policy, however, does not cover a client falling down those stairs after having a productive meeting to discuss services offered. A traditional homeowners insurance policy also leaves behind all property damage occurring on the premises except $2,500. Many small business owners have computers costing more than such amount. 

Commercial insurance has you fully covered
A liability insurance policy for your small business can guard against losses related to accidents if you, like several work-from-home entrepreneurs, do not have the significantly expensive equipment. You may also want to search out a comprehensive package policy, known as a business owner’s policy (BOP), that provides general liability coverage as well as property protection. Some BOP options include business income that pays you for wages lost should your company need to close due to extensive damage. 

Whichever option you choose for coverage, you want to make sure that you have an expert explaining the nuts and bolts of commercial insurance. Do not be caught underinsured, Evergreen Park, IL. Call Martin Insurance Team today for a consultation. 

Why Commercial Insurance is good for your business

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By purchasing a commercial insurance policy, you will have made one of the most important investments especially if you are starting a new company. A good commercial insurance policy will protect your business from financial loss ensuring that you remain afloat even during turbulent times. According to Martin Insurance Team, Evergreen Park, IL, you should seek information regarding different types of commercial insurance policies and also work with a reputable agency to ensure that you choose the right policy.

Significance of the policy
If you own a small business, this policy is very crucial since it will protect you from common liabilities resulting from employee injury, theft, and property damage. The adequate insurance coverage offered by this policy reduces the risk of going out of business.

Types of commercial insurance
There are three major types of commercial insurance namely; worker’s compensation insurance, property insurance, and liability insurance. The worker’s compensation insurance will protect you in the event your employee is injured while on the job. Also, it will prevent employees from filing negligence lawsuits due to the injury they sustain in the workplace. Secondly, the property insurance will cover any property damages within your business which includes flood and fire damage. Finally, liability insurance will protect you from the damages inflicted on third parties by your company.

Considerations you should make
It is advisable to work with an insurance agency with extensive experience in the field of commercial insurance. As Martin Insurance Team, Evergreen Park, IL advises, the relationship between you and the insurance agency is crucial when it comes to a decision making process. A reputable agency will discuss the most common losses within your line of business and advise you on the best policy to choose. Before purchasing the policy, ensure that you seek clarifications in areas that you don’t understand to avoid future regrets.
 

In Evergreen Park, IL, Does Your Commercial Insurance Cover Worker’s Compensation Claims?

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The agents at Martin Insurance Team serve businesses throughout the Evergreen Park, IL area. They can provide you with all types of commercial insurance ranging from general liability to umbrella policies, and everything in between. One of the main concerns for businesses who have several employees is finding quality Worker’s Compensation Insurance. The number of employees and the type of business you operate will determine how much insurance you will need.

Worker’s Compensation Insurance

Worker’s Compensation is used to cover an employee’s injuries if the accident happens while they are working or on the premises. It’s a specialized policy that is normally sold aside from your general liability and other types of business insurance. Most states require that you carry some type of Worker’s Compensation insurance to protect your employee’s from catastrophic loss if they are ever injured while on the job.

Umbrella Coverage

If you want to fully protect yourself, an umbrella policy can be purchased that includes several types of insurance. Umbrella policies are often used when a business needs multiple types of insurance. This can include fleet insurance for company vehicles, health insurance, life insurance coverage, Worker’s Compensation, and general liability coverage. Your insurance agent will evaluate what your business needs and put together a comprehensive policy that covers all aspects of your business.

If you’re  a business owner and live in the Evergreen Park, IL area, contact the agents at Martin Insurance Team to find out everything you need to know about Worker’s Compensation insurance. They have the knowledge and experience that will help them find a policy that matches your company’s individual needs.

Are You as Ready to Launch Your Business as You Think?

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Preparation is Key

Opening a new business may seem simple, but it usually takes blood, sweat, and a few tears before it becomes a reality. Success is not guaranteed just because you have the money to get the doors open. Developing a solid business plan before launch is one key to longevity. The Martin Insurance Team encourages you to keep in mind the best-laid plans are those with the ability to adapt to changing circumstances. 

Take Your Time

Research is your friend when it comes to establishing a business that will survive the first year in Evergreen Park IL. It takes a couple of years to complete sufficient research on demand, price expectations, and competitors in your area. Once you have determined your brand will sell, make sure your price points are reasonable for your area.

An online presence should be established before launch to take advantage of sales or conversions that occur after the customer has left your physical location. Many people want to get a feel for what you offer, but may not be ready to commit onsite. Establishing a website and social media account is an integral part of modern marketing strategies.

Opening Day

To go big or go small, that is the question you must answer before opening day. A soft approach, with little fanfare, works beautifully for some businesses. This is especially true if you have tapped a market that is in high demand. Choosing to open quietly often means sales start out slowly, but build momentum as your brand gains recognition.

A grand opening with all of the bells and whistles works wonders if you do your homework. Building a community event involves a lot of advertising and footwork ahead of time. The Martin Insurance Team reminds you to make sure you have permits and insurance in place ahead of time. Anything tangible like food and door prizes is part of a bigger plan to introduce Evergreen Park, IL to who you are as a business.

 

 

How to Safeguard Your Business Property

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Smart business owners will take whatever measures necessary to safeguard their business property. Lax security can pose a risk of theft or vandalism, costing you hundreds, if not thousands of dollars’ worth of damage or loss. By taking the following precautions, you can increase the security and safety of your business property.

Maintain Business Premises

Regular maintenance and repairs will keep your building in good shape, reducing the risk of break-ins, fire or electrical hazards that can compromise your safety. Your business environment should be free of clutter and well maintained to reduce the risk of accidents. Plumbing and heating facilities should be up to par and there should be no risk of water leakage. Good work conditions will increase productivity while safeguarding the safety of employees.

Improve Security

A high security standard will help keep your business safe from theft and vandalism. Hiring security guards can help keep undesirable people at bay. Security personnel can monitor suspicious activity as well as check visitors as they enter and exit your premises.

At closing time, security personnel can check windows and doors to ensure they are locked up tight. Installing an alarm system can also help deter what would be intruders at night.  

Follow Fire Safety Standards

To protect your business from fire, make sure all employees follow your fire safety standards to include no smoking rules. Have someone check smoke alarms, fires extinguishers, and carbon monoxide detectors on a regular basis to make sure this equipment is working properly. Your business should also have clearly defined fire escape routes to help people escape safely in the event of a fire.

By obtaining commercial insurance coverage from Martin Insurance Team, you gain valuable protection for your business property. Contact us today to see how we can meet your business insurance needs.

3 Reasons Why You Should Review Your Commercial Insurance Annually

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When you live in Evergreen Park, IL, it is important to be a responsible business owner. Commercial insurance is a necessity, and there are multiple reasons why you want to review your policy on an annual basis.As your business grows, there may be the need to obtain additional types of commercial insurance. When you first started, for example, you may not have any commercial vehicles. However, you may obtain vehicles during the second or third year of business – and these need to have commercial insurance over them.

Additionally, insurance companies may offer new and different types of coverage each year, which can provide you with additional financial protection for your business.

Increase Coverage

There may be the desire to increase coverage in one area or another. For example, if you have grown considerably and you are doing more business than ever, you may want to increase liability coverage. This way, you are less likely to pay out-of-pocket in the event that someone sues you or injures themselves on your property.

Coverage can be added in a variety of areas. Particularly if you don’t have an umbrella policy, you may want to increase coverage, and it may not be as expensive per month as you initially think.

Obtain a Better Price

You should always want to pay the lowest premium possible. The only way to do this is to explore the commercial insurance costs annually. There may be new discounts that you are eligible for. Costs can vary from insurance company to company, too, and it can be beneficial to work with an insurance agent who will obtain quotes for you and help with the comparison process.

At the Martin Insurance team, we can help to review your commercial insurance to ensure you are getting the right coverage at the right price.

 

 

3 Insurance Mistakes Small Businesses Make That Cost Money

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that nearly 20,000 people call home. Businesses in Evergreen Park, Illinois seem like fixtures in the neighborhood, losing any one of them can truly impact the local community. To improve how you operate your business and save money, avoid these common mistakes many business owners make that cost them money. 

Purchasing Inexpensive Insurance to Remain Compliant
Although the costs of being in business continue to rise, you do not want to purchase the cheapest insurance offered to you. Inexpensive business insurance does not provide businesses with all the coverage, so if there is ever a loss, the business owner may not be prepared to cover the costs the basic insurance fails to cover. 

Ignoring Simple Strategies Businesses Use to Reduce the Cost of Insurance Coverage
Taking on a basic policy is not the only way businesses can save on insurance costs. In fact, a basic insurance policy may cost your business in the long run. Instead, look for other ways to save money, such as reducing the risks associated with your business, reducing deductibles, and purchasing your insurance from a local agency with great rates, like our insurance agency in Evergreen Park.

Failing to Understand the Insurance Policy
Too many business owners, the insurance policy may seem like it is written in another language. The jargon and the way the coverage descriptions are written, make it hard for many people to understand; however, that is not an excuse to discard your policy without reading it. The more you know about coverage, the more insurance coverage is available to you when you have a loss. 

In order to save money for your business, and have the best protections in Evergreen Park, contact our local agency to get quotes for insurance for your business. We can provide you with detail coverage options that will meet all of your business needs.

3 Reasons Your Business Needs Security Breach Protection

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Chicago is a major city in the United States, and as such, it is a potential target for people attempting to do harmful things to residents and businesses. With such proximity to Chicago, Evergreen Park, Illinois is vulnerable. Businesses must take actions to ensure they are protected if they are impacted by cyber attacks and data breaches. The following are three reasons your business needs security breach protection.

Helps Your Business Recover after an Attack
Operating expenses are hard to keep fluid in regular day-to-day operations for some businesses. Imagine if you were stricken by a cyber-attack, how would you get the money to restore your business? Most business owners would borrow the money, but this exposes them even further. The best solution is to have data breach protection in place. Data breach protections help business owners return to normal operations after facing breaches with their electronics.

Coverage for Consultants Help Prevent Future Attacks
Many security breach coverage options provide small businesses with the ability to speak to a consultant. These consultants have years of experience with reducing the instance of having hackers attack hardware. If your business ever experiences an attack, employ the services of a consultant, so that you can reduce the chances of it happening again in the future.

Protect Sensitive Information
Whether you have business intelligence stored in your system or customer contact information, that information must be protected at all times. Competitors or hackers having access to this information can be disastrous for your company if you get sued. Services included in some data breach protection plans help you proactively secure your data before anything happens to your business.

If you are interested in learning more about the possibilities for data breach protection, do not hesitate to give us a call. Our suite of business insurance makes it possible to have comprehensive insurance coverage at one local agency. Call us today to get a quote on various business insurance products to reduce your exposure to damage from many types of insurance loss.

Commercial Insurance for Trucks in Evergreen Park IL

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Owning a business in the suburb of Evergreen Park, IL has great potential since it is surrounded by the city of Chicago on three sides in addition to bordering other prosperous suburban communities in all points of direction. If your business relies on a fleet of trucks to maintain its normal operation, it is important to have the right commercial insurance policy that will cover your vehicles in the event of unforeseen circumstances. Just like performing routine mechanical maintenance on your vehicles, it is necessary to make sure you have the right coverage so your fleet can remain on the road.

In addition to the maintenance of your vehicles, your business also has the responsibility to provide protection for your drivers and other employees as well. No matter how well you manage your business or how careful you are, there are some situations that really cannot be prevented. There are several common threats that can jeopardize the lifeline of your business – the trucks and the drivers. Some of these threats include injuries, truck damage, theft, vandalism, among others. By getting the right insurance coverage, you can protect yourself from financial losses and bankruptcy in the event that one of these unforeseen instances occur during the normal operation of your business.

Most states require businesses to have general liability insurance before any trucks can be put on the road. Evergreen Park, IL 60805 is no different since the government requires this type of insurance in the event that damage is caused by the truck during an accident. If the damage exceeds the allotted amount in the insurance policy, then the company must shoulder the remaining amount. This type of protection can also include coverage when the truck is parked as well.

To become more familiar with commercial insurance for trucks, you can speak with one of our agents at Martin Insurance Agency. The law requires businesses to have the minimum commercial insurance coverage for their truck fleets. You can find the best coverage that is specifically designed for your business by contacting one of our agents today.