For those with a family business in Matthews, NC, our team at Jim Boyce Insurance can help you decide the suitable types of insurance to protect your family’s endeavor. While every insurance policy is different, our tips below for getting commercial coverage for your family business should apply to most situations.
Learn about Commercial Insurance Types
Before getting a commercial coverage policy, you’ll need to know what kinds of commercial policies exist. While there are general commercial insurance policies, some types of coverage in this area of insurance have specific terms or forms of coverage they provide. For example, worker’s compensation insurance targets covering your employees if they are injured and protecting your business in that situation.
Explore All Options
If your policy doesn’t give you the coverage you’d prefer, you may want to look into umbrella insurance policies or other options. These policies will provide you with coverage for qualifying problems up to a certain amount once you’ve reached the limit of your existing policies. They may require a certain amount of coverage to qualify, so you should consult with experts before going down this path.
Consult with Your Family
Since family businesses frequently affect family members, getting every family member on board about insurance decisions is important. If some family members are employed in the business, you’ll need to get worker’s compensation to protect them. Call a family business meeting stat!
For more information on our commercial policies, call our office in Matthews, NC at Jim Boyce Insurance.