Here are the essentials of commercial insurance

There are many elements associated with starting and maintaining a business in New York. Commercial insurance is one of the essential tenets of entrepreneurship. The agents at V.A.C. Insurance Agency in Brooklyn, NY can help you understand the details of commercial indemnity policies. Read on to learn the basics of commercial insurance!

What is commercial insurance?

Commercial insurance is an indemnity plan that many business owners use to cover their assets when the unexpected happens. There are many types of commercial insurance in Brooklyn, NY, which include:

  • Property Insurance

  • Business Income Insurance

  • Umbrella Insurance

  • Business Auto Insurance

  • Workers’ Compensation Insurance

Depending on the situation, commercial insurance may be optional. Businesses with employees, however, must obtain at least workers’ compensation insurance. In addition, those business owners who rent locations may have to obtain property insurance as a part of their lease agreement.

Umbrella insurance is not just for businesses, entrepreneurs stand to benefit from a policy. Under this plan, business owners receive compensation for losses that their initial policy fails to cover. An umbrella insurance policy can be a lifesaver when your losses exceed the limits of your standard policy. An umbrella plan fills in the gap so that you do not have to pull out of your pocket to pay for expenses.

Business income is another indemnity option that serves as a lifesaver. This commercial insurance plan compensates for income lost during a power outage or other unexpected incident that impedes your ability to earn money during a workday.

Business income is especially ideal for small business owners whose company operates online. A power outage could lead to detrimental effects in the area of finances. Business income assurance provides a safety net so that you can move forward without feeling the need to make up for lost earnings.

How much commercial insurance do you need?

The type and amount of commercial insurance you need depends on the size of your company as well as the nature of your business. An agent at V.A.C. Insurance Agency can help you find the plan that works best for your situation. Call today to get started with a quote!

What can your home insurance policy cover?

Your home insurance policy is for more than looking pretty. A good indemnity plan can shield you from heartache and incredible loss when the unexpected happens in Brooklyn, NY.

The agents at V.A.C. Insurance Agency can tell you about all the benefits of having a good home insurance plan. Read on to learn what a policy can do if you are a victim of theft or Mother Nature.

Natural Disasters

The average home insurance plan covers natural disasters such as lightning and damages related to hail. Weather conditions related to hurricanes and massive flooding may not be covered under a traditional home insurance plan.

It is important to check with your agent at V.A.C. Insurance Agency to learn what your policy covers regarding natural disasters. You do not want to wait until tragedy strikes to learn that your coverage may not be enough.

Personal Property

Theft violates you in more ways than one. You have to live with the reality of someone coming into your dwelling space without authorization. You also must grapple with the notion of them taking items that can never be replaced.

Home insurance can help you recover with personal property protection. This type of assurance pays cash for items lost in a robbery. An agent at V.A.C. Insurance Agency can help you find the policy that covers some of your most treasured possessions.

A homeowner should never go without home insurance. It only takes a few seconds for you to lose everything and be left with the reality of starting over. The agents at V.A.C. Insurance Agency in Brooklyn, NY can help you better prepare for the unexpected. Call us today to get started with a home insurance quote!