Consider us your in-house risk management advisors.
We help put together the right commercial policies for your business to make the process as simple and stress-free as possible.
No matter how careful you are, accidents happen, and protection offered by the right insurance policy can make all the difference. Our broker’s knowledge and guidance coupled with their dedication to seeing you succeed, set a competitive advantage for your business.
Do I Need Business Insurance?
Are you a business owner? Then yes! All business owners, regardless of industry or company size require some sort of commercial insurance. Tailored Commercial Insurance Policies provides you with protection for mistakes within and outside of your control. The benefits are endless and can ensure the ongoing success of your business. Our experienced brokers will get you insurance that fits your needs, industry, and coverage requirements – to ensure your hard work is protected.
How Much Should Business Insurance Cost?
A Small Cost For A Big Benefit
Many business owners especially small businesses try to find the cheapest insurance policy possible. However, it’s crucial to obtain adequate quality coverage to prevent thousands of dollars in uncovered claim fees against your business. Part of this involves understanding exactly what your quoted policy does and does not cover, before deciding to buy.
Every business has its unique needs and requirements. The cost of business insurance thus varies. It also usually depends on several factors, some broad, some unique. These factors vary based on the coverage being quoted as well. Some industries can be quoted or ballparked based on “typical” information, and some others need more in-depth information.
In these cases, to determine a quote or cost, insurers initially start with narrowing down the type of operations.
- Broad industry factors, like specific industry your business operates in.
- Then considers your industry’s typical claims, settlements, and risks for what rates or premiums to apply.
From there, based on the types of insurance needed, limits, and deductibles chosen – the quote is further customized based on:
- Your specific business operations:
- Coverages needed
- Contractual requirements
- Building construction, type of security, loss history, payment history, etc.
At Collis Insurance, we balance price with quality to provide you with a range of competitive quotes and coverage options. Our brokers are dedicated to understanding your coverage needs and working as best as possible within your budget.
What Type of Business Insurance do I Need?
Collis Insurance offers a wide variety of coverages to develop an insurance package that is as unique as your business. Below are some of our most popular coverages. To see a more complete list, visit What We Offer. And to view most common coverages by industry, click here!
Professional Liability Insurance protects your business if a client blames you for errors or mistakes in your work. If the client suffers down time or other types of financial loss from your mistake, they could sue you. This coverage also provides funds to cover the associated legal costs.
A must have for every business. General liability insurance protects all third party persons that have contact with your business. Whether it’s customers, employees, suppliers, or distributors.
It usually covers costs related to:
- Bodily Injury
- Property damage
- Personal and Advertising Injury (Reputation)
- Medical Costs
- Tenant’s Legal Liability
Imagine an unforeseen event prevents your business from operating (fire, flood theft, vandalism). The loss of income for an extended period can be extremely difficult to recover from. In case of an unexpected insured loss, business interruption insurance protects you by paying your loss of income and operating expenses, even your payroll if you choose. It allows you to pass this risk to your insurer, limit your losses, and get your business up and running again as quickly as possible.
Nearly all businesses today rely on an online presence, especially after the pandemic. Don’t risk losing your client relationships, reputation, and income in the event of a data breach. Cyber insurance not only pays for lost income and expenses but also helps you respond to a cyber attack.