Business Insurance

Why Get Business Insurance in Washington
The state of Washington is home to four of Fortune’s “20 Most Admired Companies”. Most people know and recognize Microsoft, Costco, Nordstrom and Starbucks. These massive companies all are headquartered in Washington. Bill Gates, Howard Schultz, Jeff Bezos and Paul Allen are well-known business names also associated with Washington. While big names and renowned companies like these demand respect, founding and running these billion-dollar companies involves big responsibilities for the owners not only to their thousands of employees but also to their customers or clients. Customers expect a certain level of quality from these businesses- whether it is clothes from the high-end retail store Nordstrom, software from Microsoft or a latte from Starbucks. What happens if there’s a glitch in the computer software or perhaps the coffee is served so hot that it burns the tongue of a customer? Dissatisfied customers have the right to sue a company which they feel has somehow injured them. If the company does not have the proper amount of business liability coverage, it can cause untold financial problems for the business.

Whether you own a small retail establishment or a large business with hundreds of employees, Washington business insurance protects business owners from loss by covering the cost of damages and injuries due to accidents or natural disasters. As with all types of insurance, there are exceptions as to what is covered. Some of these exclusions are professional liability, claims involving discriminatory or unfair practices, and claims brought by a subcontractor. As a responsible business owner, it is important that you remain well-informed as to what Washington liability coverage does and does not pay for in the event of a claim. By doing this, you can further protect yourself and your assets by purchasing additional types of coverage and adding them to your liability policy.

Worker’s Compensation in Washington
The local baristas who are performing their duties at Starbucks need worker’s compensation coverage. It is required by law. In fact, negligence or fault need not destroy a company’s finances because the moment an employee is injured at work, that employee has coverage. If an employer chooses not to purchase worker’s compensation, there is always the possibility of a civil lawsuit the next time an employee is injured. When and if this happens, all of your assets are exposed, including the professional ones. Purchasing worker’s compensation for your employees is a smart way to protect all of your investments.

Coverage for Washington Business Insurance
It is crucial that you choose the appropriate coverage when formulating your Washington business liability insurance. The correct coverage for your business will depend on the nature of your business and most importantly the risks associated with its day-to-day operations. Vulnerability to claims against your business can be avoided by careful evaluation to determine what additional coverage to your Washington business liability insurance is needed by your company.

No matter what type of business is being insured, the most important thing is to know how far your coverage extends. Any person who is injured on your business property has the ability to sue for damages. For this reason, it is very important that you have the proper insurance coverage to protect both you and your assets.

Washington liability insurance also comes in handy when unexpected circumstances occur. As an example, let’s assume someone is injured due to an employee’s negligence. If the business is properly covered, liability insurance will pay for any expenses that arise from the resulting damages and injuries. This includes medical bills and lost wages as well as any legal expenses and court costs.

When you’re looking for comprehensive business liability insurance, a good place to start is online. Using the internet, you can contact several different insurance companies to get multiple quotes and compare different policies. Protect your hard-earned investment by purchasing adequate Washington business insurance. It’s one of the smartest decisions you can make as a business owner.