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Is commercial insurance needed in Oak Ridge?

In the Oak Ridge, NC area, those that would like to be their own boss should consider starting a business. This area of North Carolina offers many opportunities for success as there is a good local market and support for small companies. When starting any business, it is important that you get the right insurance for it. There are several situations when getting a commercial insurance plan here should be considered a necessity. 

When Insurance is Required

A common reason that business owners here will need to get a commercial insurance plan is that it is a requirement set by various stakeholders. It is very common for small businesses to have commercial insurance requirements set by their lenders, investors, and even landlords. As all of these entities will have a vested interest in the business, they will want to ensure that it is as well protected as possible. 

When Wanting to Cover Investment

It would be best if you also got a commercial insurance plan to cover your investment. Starting a company always comes with a big investment, including investing your money into business assets. If there is ever a fire or other situation that results in a loss, your commercial insurance plan could protect your investment.

There are plenty of great reasons to get a commercial insurance plan in the Oak Ridge, NC area. If you would like to get a commercial insurance plan here, you need to speak with the Oak Ridge Insurance Services team. When you call Oak Ridge Insurance Services, you will learn a lot more about your insurance options. Our team can then give you the support needed to build and choose a quality policy that meets your needs. Reach out to our office to get a quote.

Three Things to Consider When Shopping for Commercial Insurance

Being a business owner is rewarding. However, it is a challenging role too. In order to make sure that the business operates well and everything goes as smoothly as possible, there are many things to consider. One of them is to protect your business from unforeseen circumstances that can happen anytime. One of the best ways to do it is to purchase commercial insurance. Shopping for business insurance might be tricky and time-consuming. In order to help you, we at Oak Ridge Insurance Services in Oak Ridge, NC, suggest you consider three things before getting a particular policy: 

Identify The Potential Risks In Your Industry

In order to get adequate coverage for your company, you need to have a clear understanding of what kinds of risks your business might face. Every business is different from its specifics and risks. For example, if you own a transportation company, you need to have commercial auto insurance for the vehicles. If your business is related to sensitive information, your business insurance coverage should focus on protecting you from claims associated with a Data Breach. 

The Terms and Conditions of The Policy

Many people make the same common mistakes – ignore the terms and conditions before signing the contract with an insurance company. It is crucial to know and understand what is included in your policy and what is not. If something is unclear to you, you can always contact an insurance agent and ask them to clarify everything and answer your questions. 

The Size of Your Business

A commercial insurance policy should match the size of your business. If your company is quite small with no more than 50-100 employees, then a standard commercial insurance policy will be more than enough for you. However, if it is much bigger, you might need additional coverage, which will provide expanded protection to your business. 

If you are a business owner from Oak Ridge, NC, and you are searching for commercial insurance for your company, Oak Ridge Insurance Services is ready to assist you in finding the best option for your business. Do not hesitate to contact us to find out how you can protect your business and yourself. 

Brent Schroyer

Brent Schroyer

Insurance Advisor
Chastity Spofford

Chastity Spofford

Insurance Specialist

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