Do You Legally Need Commercial Insurance?

Dealing with commercial insurance can be quite an investment, causing owners to ponder its worth. It’s important to see insurance as a safety net you wish not to use, but it is essential for those ‘just in case’ instances. True, it’s not entirely without its financial and time constraints.

Recognizing the Need for Business Protection

Undeniably, ask yourself if your business owns property that would be difficult to repair or replace. This includes assets such as inventory, vehicles, computers, and other technical equipment. If the worth of these assets is in the ten-thousand-dollar range, commercial insurance becomes a must-have necessity.

Litigation Concerns

Also, consider the implications of potential legal action against your business. For instance, if you own a particular property where someone could get injured, sell items that could be defective or harmful, or experience a data breach, a lawsuit could ensue. Commercial insurance would cover you in these circumstances and reduce the risk of your business falling under financial stress due to unfortunate events.

Determining the Insurance You Need

If you employ personnel, you’ll need workers’ compensation insurance. General liability insurance covers any injuries that occur on your property. It’s also worth considering professional liability insurance to mitigate legal complications.

Business Insurance Solutions at Ashley Insurance in Easton, MD

If you’re a business owner in Easton, MD, and considering commercial insurance, don’t hesitate to contact Ashley Insurance. Our courteous, experienced agents are here to assist you in finding just the right policy for your business needs.

Do I need commercial insurance for my Easton, MD home office?

Even if you already have renters or homeowners insurance, you probably need commercial insurance for your Easton, MD home business. If your business is involved in an incident that could potentially involve a legal claim, your personal insurance will not cover it. Ashley Insurance can help explain your options to ensure you have the protection you need.

Questions To Ask Yourself

Here are some questions you can ask yourself to decide whether you need personal insurance and what kind:

  • Do clients visit your home as part of your business activities?
  • Do you keep your work materials and equipment, including your laptop, in your home?
  • Do you employ others to assist with your business?
  • Would unrelated damage to your home, such as a fire, interrupt your business?

If you say yes to any of these questions, you face risks you could protect with the proper coverage.

Different Kinds Of Commercial Insurance For Your Home Business

There are several different kinds of insurance you may want to consider. The most common insurance, and one that almost everyone needs, is general liability insurance. This protects you from damages and injuries to third parties. Even if you use your personal vehicle for work, you should have auto insurance, as your personal policy will not pay for work-related claims.

If you have a home office, your business may be based on offering professional services. Professional liability insurance, or errors and omissions (E & O) insurance, will protect you if you make a mistake due to negligence. Worker’s compensation insurance is usually required by law if you have employees for your Easton, MD home office.

These aren’t the only kinds of protection you get. Please feel free to call Ashley Insurance so we can help you assess your risks.

Protecting Your Small Business: The Importance of General Liability Insurance

The Importance of General Liability Insurance

As a small business owner, it’s crucial to protect your hard work and investment. One essential tool in your risk management arsenal is general liability insurance. If you need a team to help you understand your risks and obtain the right insurance, you’ve come to the right place. Ashley Insurance is here to provide a bit of insight into the importance of general liability insurance. If you’re looking to add general liability insurance to your Maryland small business, get a quote to start working with our local agents.

General Liability Insurance For Small Businesses

Do I Need General Liability Insurance in Maryland?

General liability insurance is not a requirement in Maryland, but it can be good to have in order to protect your business from risk. Here’s why you may want to consider obtaining this coverage:

1. Safeguarding Against Accidents and Injuries

General liability insurance provides financial protection in case someone is injured or their property is damaged due to your business operations. Whether it’s a slip and fall accident on your premises or accidental damage to a client’s property, this coverage helps cover medical expenses, legal fees, and potential settlement costs.

2. Mitigating Lawsuits and Legal Expenses

In today’s contentious society, even the smallest incident can lead to a lawsuit. Defending your business in court can be costly and time-consuming, potentially jeopardizing your finances and reputation. General liability insurance helps cover legal expenses, including attorney fees, court costs, and settlements or judgments against your business.

3. Building Trust and Credibility

Having general liability insurance in Maryland demonstrates your commitment to professionalism and responsibility. Clients and customers often prefer working with businesses that are adequately insured, as it instills confidence and reassurance. It becomes a competitive advantage, especially when bidding for contracts or competing against larger companies.

4. Protecting Your Business Assets

Your business assets, including physical property and equipment, are vital to your operations. In the event of a covered incident like fire, theft, or vandalism, general liability insurance can help repair or replace these assets, minimizing disruption to your business and ensuring continuity.

5. Addressing Product and Advertising Liability

If your business manufactures or sells products, you face the risk of product liability claims. Should a product cause harm or injury to a consumer, general liability insurance can cover the resulting legal costs. Additionally, this coverage can also protect your business from claims related to false advertising, copyright infringement, or libel, providing a safety net for your marketing efforts.

6. Meeting Contractual Requirements

Many contracts, including lease agreements, vendor agreements, or client contracts, often require small businesses to have general liability insurance. By obtaining this coverage, you ensure compliance with contractual obligations, thereby securing vital business relationships and opportunities.

Get General Liability Insurance For Your Small Business

Insure Your Business

Obtaining general liability insurance in Maryland could save your business from costs associated with accidents, injuries, lawsuits, and property damage. Safeguard your business by investing in this vital coverage and build credibility with your customer base along the way. Don’t wait until it’s too late – get a quote from Ashley Insurance.

Proven Ways to Protect Your Business from Cybercrime

Cybercrime is a growing concern for businesses of all sizes and industries. While we may never eliminate the threat, there are ways to protect yourself and your business from the risks of cybercrime. Here are some tips from Ashley Insurance to help protect your Easton, MD company from hackers, malicious software, and other cyber threats.

Proven Ways to Protect Your Business from Cybercrime

Encrypt Data, Networks, and Backups

Encrypting data, networks, and backups is crucial for any business looking to protect sensitive information. Encryption provides an extra layer of security by converting valuable information into an unreadable format, making it much more difficult for unauthorized users to access and read the data.

Regularly Update Systems and Software

For businesses, regularly updating systems and software is essential for maintaining a secure environment. Keeping systems up to date helps to reduce the risk of security breaches. Furthermore, by keeping systems current, businesses can benefit from improved compatibility and features, which can help to increase productivity.

Train Employees on Cyber Security Practices

Training your employees on cyber security is necessary to protect the business and its employees from potential data breaches and other malicious attacks. Cybersecurity training can help ensure that employees are well-versed in the best practices of cybersecurity, such as using secure passwords, recognizing phishing emails, and understanding how to maintain the security of confidential information. A knowledgeable workforce regarding cyber security can reduce the risk of data breaches, increase employee productivity, and protect the company’s reputation.

Invest in Cyber Insurance

Investing in cyber insurance for your business is an essential step towards ensuring its security and protecting against financial loss in the event of a cyber attack. Cyber insurance can cover various costs associated with a cyber attack, such as data recovery, ransom, legal fees, and computer expert services.

Get The Right Coverage For Your Business Today

Ashley Insurance in Easton, MD specializes in commercial insurance and offers various services to meet your needs. We understand that every business has unique needs, and we strive to provide customized solutions that work for you. Contact us today to discover more!

Required Commercial Insurance in Maryland

When you are a business owner in Maryland, there are types of commercial insurance that are mandated by state law that your business may need to keep. It’s important to make sure that you understand what is required for your business so that you keep operating legally. When you need commercial insurance for your business, call us now at Ashley Insurance in Easton, MD.

Understanding Commercial Insurance Coverage

Workers’ Compensation Insurance

While there are a few exceptions, generally within Maryland every business that has any number of employees must carry workers’ compensation insurance for them. Even just one employee, even if they are only part-time, requires that you have this insurance. This coverage protects both you and your employees by paying for medical bills that are due after a workplace injury or an illness caused by the workplace. This insurance also pays employees disability benefits when needed. 

Commercial Auto Insurance

When a Maryland business owns a vehicle, it is required to have a commercial auto insurance policy to protect it. The policy is required to have different kinds of coverage within it, including bodily injury liability and property damage liability. The amounts required for both of these coverage types are relatively low, however, and it’s often recommended that Maryland business owners get more than the minimum amount of coverage to protect their businesses. If you run a trucking company, there may be other insurance coverage that you need in order to comply. If you use a personal vehicle to perform work tasks, it’s recommended that you get a policy called hired and non-owned. This can be the coverage you need in these instances, as personal insurance often won’t pay for accidents that happen while performing work tasks. 

Get Commercial Insurance

If you need commercial insurance, don’t wait. Call us today at Ashley Insurance in Easton, MD.

Four Reasons Your Small Business Needs Commercial Insurance Coverage

It can be so challenging to operate a business, especially when you consider all of the day-to-day responsibilities business owners must take on. Business owners often become overwhelmed and forget about one of the most important aspects of owning a business: protecting that business with commercial insurance. Ashley Insurance, serving Easton, MD, shares four reasons why your small business needs to be properly insured.

Stay in Compliance with the Law

As a business, it is imperative you have insurance that will protect you. However, depending on where you live, it may be required by law. For example, in most states, workers’ compensation insurance is required if you have a certain number of employees working underneath you. Failing to meet the legal requirements for insurance could lead to penalties or even closure of your business.

Reassures Customers

In order to be successful, your business must have a solid reputation. By investing in the right commercial insurance coverage, your customers, clients, and even employees will feel better working with you. Having the necessary insurance for your business tells others you can be trusted and that your company is a credible business. 

Covers Legal Actions

A business can be sued for any number of reasons, including bodily injury on company premises, defamation, or unfair termination. Facing a lawsuit can have a negative impact on your company’s reputation and overall bottom line. At the same time, it can be expensive to fight a lawsuit. Luckily, the right insurance coverage can help cover these costs so you aren’t paying out of pocket for them, harming your bottom line.

Keeps Your Business in Operation

In the event your business must close temporarily as a result of a natural disaster or fire, your revenue is likely to be negatively affected. The right commercial insurance policy will cover the revenue you lose during this time, as well as ongoing business expenses like rent. 

When you want to ensure your small business is properly protected, reach out to Ashley Insurance, serving Easton, MD.

Protect Your Business Investments With Commercial Insurance

Owning your own business is a huge investment of both time and money. Only you know the true value of what you have put into your company. Commercial insurance is the best way to protect this investment and to protect your employees and customers. At Ashley Insurance, serving Easton, MD, we can help you better understand commercial insurance products. 

What Is Commercial Insurance?

Commercial insurance is a type of insurance intended to serve the needs of business owners like you. Commercial insurance bundles together all of the important types of coverage that will help you as the business owner protect your investment, employees, and customers. 

What Does Commercial Insurance Cover?

Because every business is different, commercial insurance can be highly customizable. In general, commercial insurance can help provide the following types of coverage.

  • Auto Insurance- Auto insurance is essential for the business owner who operates vehicles on a regular basis. This type of coverage is necessary to keep your vehicles and drivers legal and safe. 
  • Property damage- Property damage coverage will protect the financial investment you have made in your place of business and equipment. If your location or equipment is damaged because of fire, natural disasters, or even burglary, your property damage coverage can help cover the expenses. 
  • Liability coverage- Liability coverage is crucial to long-term financial security for both you and your business. If a customer or employee is injured at your place of business or because of your goods or services, you could personally be held liable. Liabilities can include medical bills and even legal fees if a lawsuit is pursued. Liability coverage will protect your assets if this happens. 

If you would like to learn more about our services, please contact us at Ashley Insurance, serving Easton, MD. 

Benefits of commercial insurance policies.

It’s pivotal for any small business owners in Easton, MD to be conversant with the various commercial insurance policies available at their disposal. Acquiring outstanding commercial insurance aids in preparing and protecting your business from potentially ruinous costs arising from an accident.

Statistics reveal that Maryland has more than 581,000 small businesses accounting for 99.5% of all state businesses. Commercial insurance can cushion your business entity from imminent losses and is a vital part of owning the business. Maryland businesses should get adequate protection to safeguard their assets and owners against risks.

As a Maryland resident seeking a commercial insurance policy, it’s crucial to assess accurate information on current minimum insurance requirements. Connect with our team at Ashley Insurance situated in Easton, MD, and our knowledgeable agents will answer all your questions about commercial insurance. If you operate your business devoid of the right commercial insurance protection, any arising claims will be settled out of pocket, therefore, impacting negatively to your revenue. One way to avoid this stress is purchasing commercial insurance at Ashley Insurance.

Benefits of commercial insurance policies.

  • Provide bodily injury coverage: If your business operations result in injury to any person, liability insurance comes in to cater to the cost of injuries inflicted.
  • Helps mitigate financial losses: Having commercial insurance at your disposal in Easton, MD aids in mitigating financial losses caused by unfortunate eventualities such as vandalism, fire, and theft.
  • Covers for advertising liability: When a business entity violates other business copyright rules, it leads to a copyright infringement. Liability insurance comes into play and offers legal coverage against such claims.
  • Provide property damage protection: When your business venture inflicts damages to a third party’s property, this form of coverage is tailored to cover such loss.
  • Helps to promote business continuity: If your business entity gets hit by unforeseen events and you do not possess a commercial insurance policy, it may jeopardize your operations, which may lead to closure.
  • Assists in risk-sharing: When misfortunes hit your business, the insurance company can come to your rescue. In case you have insured your business, the risk gets shared between your business and the insurance company.

Contact us or visit our Ashley Insurance offices in Easton, MD to get a fast and reliable quote on commercial insurance.

Common Misconceptions About Commercial Insurance You Should Know

Commercial insurance is one of the most important investments for any business owner. However, there are many misconceptions about this type of insurance.

In order to get a better understanding of how commercial insurance works, take a look at the list of myths prepared by Ashley Insurance, serving Easton, MD: 

Small businesses do not need commercial insurance.

No business is too small to benefit from commercial insurance. Commercial insurance policies offer a wide range of coverages for all types of companies, such as business interruption, liability insurance, coverage for the building, and even coverage for the products you sell. They all help to protect your business against lawsuits, disasters, theft, and other losses regardless of the size of your company. 

There is no need to get commercial auto insurance on a car that is used for business purposes.

The truth is that your standard auto insurance will not cover your vehicle used for commercial purposes. Therefore, if one of your employees gets involved in a car accident while driving your car, your auto insurance will not cover the damages. 

A standard home insurance policy covers a home-based business.

If you operate your business from home, you may be surprised to find out that your homeowners’ insurance will not cover business-related damages. This means that your equipment and inventory are not protected by home insurance and need a separate policy. 

In order to protect your business, yourself as a business owner, equipment, and your employees, you need to have proper commercial insurance. If you have any questions about this type of insurance and need more information, Ashley Insurance, serving clients in the Easton, MD area, is ready to assist you. Do not hesitate to visit our website or give us a call to discuss the options available and find the perfect coverage. 

Commercial insurance to prevent large potential losses

As a general rule, commercial insurance is an important way to keep a business running if there is ever any kind of incident that could end up costing significant amounts of money. Ashley Insurance is a provider in Easton, MD that can provide the right type of coverage for all kinds of businesses. 

Why is commercial insurance important? 

When a business deals with a significant loss, there may be property damage, lawsuits and legal fees, and damage to the business reputation. If these losses are large enough, the company may need to layoff staff, make major changes due to decreased revenue, and even cease operations altogether. Commercial insurance is the only way to protect against the possibility of a significant incident that affects the whole company.

A commercial policy that is specific to your line of business can protect things like equipment, property, vehicles, inventory, and other necessary items that your business needs to function. A major accident can end up costing thousands or millions of dollars. Without the right kind of insurance, it is doubtful that any business can sustain such a loss, pay for the damages, and keep functioning without issue.  The right insurance policy is a guarantee that the business can keep moving on from one of these terrible scenarios.  

Learn more about commercial insurance

Agents with Ashley Insurance serve the Centreville and Easton, MD area with advice and guidance related to protecting your business from various kinds of losses. They can recommend a policy that will work for your business based on its size, value, and other vital factors.

Get in touch today to find the right insurance policy for the safety and future of your company.