HOW CAN WE HELP YOU?

Click to Call
CO Insurance Specialist

6990 W. 38th Ave. #200
Wheat Ridge, CO 80033

Get Directions

What Are the Benefits of Having Commercial Insurance?

As a business owner, you know that protecting your investment is important. But what does commercial insurance do for you? This blog post will explore the benefits of having commercial insurance for your business.

1. It Can Help You Recover From Unexpected Events

No one can predict when an unexpected event will occur, but you’ll be prepared for the unexpected with commercial insurance. Whether your business is damaged in a fire or you’re sued for negligence, commercial insurance can help you recover. However, it is essential to note that not all commercial insurance policies are created equal. Please make sure you understand what your policy covers before you purchase it.

2. It Can Give You Peace of Mind

As a business owner, you have enough to worry about without having to stress over whether your business is adequately protected. With commercial insurance, you can rest assured knowing that your business is covered in the event of an accident or disaster.

3. It Can Help You Attract and Retain Customers

Customers are more likely to do business with a properly insured company. If something goes wrong, they’ll know that they’re protected. This can give you a competitive advantage and help you attract and retain customers.

4. It Can Help You Protect Your Employees

Your employees are your most valuable asset, and you want to do everything you can to protect them. Workers’ compensation insurance can help cover their medical expenses if they’re injured on the job. This type of insurance can also help you avoid lawsuits.

5. It Can Help You Save Money

You may think that commercial insurance is expensive, but it can save you money in the long run. If you’re adequately insured, you won’t have to worry about paying for damages or medical expenses out of pocket.

Commercial Insurance in Wheat Ridge, CO

There are many benefits to having commercial insurance for your business. Whether you’re just starting or you’ve been in business for years, it’s never too late to get insured. Contact CO Insurance Specialist in Wheat Ridge, CO today to learn more about your options.

4 Important Parts of Commercial Insurance Coverage

Commercial insurance offers protection for businesses of all shapes and sizes against a variety of potential losses. Some of the most common forms of commercial insurance coverage include property damage, theft, and injury liability. However, when you start your own business in Wheat Ridge, CO, you never know what kind of protection you need. This is where CO Insurance Specialist comes in. 

As you search for a business insurance policy, you will want to be familiar with some of the main features of a policy. 

Liability Insurance

Commercial liability insurance is designed to protect you from damages caused by your business. It will cover injury costs and legal expenses if a lawsuit is brought against you. It will also cover property damage that occurs as a result of your products or on your commercial property.

Property Insurance

Commercial property insurance protects you from damages and losses to the business property. Some of the most common covered perils include fire, flood, and theft. 

Workers’ Compensation Insurance

Commercial workers’ comp is designed to provide protection for your company in the event that a staff member of yours suffers an injury while on the job. It also offers protection against lawsuits claiming negligence for injuries that occurred to an employee during working hours.

Auto Insurance

Commercial auto insurance is necessary for companies that have a fleet of vehicles that are used for business purposes. This is true even if you only have one vehicle designated for business. This insurance offers coverage for property damage, bodily injury liability, uninsured motorist, collision, medical payments, and more.

If you currently do not have commercial insurance, contact CO Insurance Specialist, serving Wheat Ridge, CO.

Is having commercial insurance in Wheat Ridge important?

Those that are in the Wheat Ridge, CO area will find it is a good place to start a small business. If you are in the process of starting a company, it is important that you spend time thinking about insurance. A company in this area will benefit in several ways by having a commercial insurance plan. 

Protect Assets for your Business

As you are looking to build a business in Colorado, you will find that there are different commercial assets that you need to invest in to grow the company. These assets can be very valuable and should last a long time. However, there is always a risk you can incur a loss due to fire, theft, or vandalism. With commercial coverage, you can reduce this risk as you will have the means to replace the assets.

Protect Against Liability Risk

You should also look into a commercial plan as it can help to offset your liability risk. If you would like to sell a product or service, you will always take on the risk that you are named in a liability lawsuit. A great way that this risk is mitigated is by getting commercial coverage. This protection offers support if you are found liable for damages. 

People that live in the Wheat Ridge, CO area and start a company of their own will always want to know that they have the right commercial coverage in place. If you are assessing your insurance needs, you will find CO Insurance Specialist can be a great resource. The team with CO Insurance Specialist understands the importance of this coverage and can help you assess your needs and insurance options. This can ensure you build an ideal plan for your situation, which will ensure your company is properly covered.  

Is Your Commercial Insurance Policy Up to Date?

When you own a business in Wheat Ridge, CO, the day-to-day activities can overshadow critical matters like insurance. With your day filled to the brim with personal, family, and work obligations, looking at your commercial insurance policy may not be anywhere near the top of your priority list. Regrettably, this trend can land your business in hot soup. Outdated commercial insurance can force you to incur out-of-pocket expenses when disaster strikes.

Have you been wondering whether you should update your commercial insurance? Don’t fret. CO Insurance Specialist shares a few ways to know when it’s time to update your business insurance.

Has your mode of operation changed?

Have you introduced a new product? Have you moved your business online? Such changes could affect your insurance needs. For instance, if your business is now storing sensitive customer data, you need cyber insurance to protect you against malicious online activities. 

If you are planning to expand your business this year, you must talk to your insurance agent to determine your insurance needs. Your commercial insurance might need additions or subtractions to ensure that you carry the right commercial insurance coverage.

In addition, if the below elements have changed, you need a sit-down with your insurance agent to update your commercial insurance policy.

  • Increase in the number of employees: You need to update your workers’ comp insurance with the correct number of employees. This ensures that you don’t underpay or overpay your premiums. 
  • Improvements in your business premises: Have you added an extra storage room? Perhaps, you have added a spare office to support the increase in staff? Either way, you need to update your commercial insurance policy to capture these changes. Similarly, update your insurance with additions or disposals of assets such as computer equipment, inventories, and furniture. 
  • Neighbors: Are there new tenants around your business premises? If yes, you need to update your liability coverage to cover bodily injuries or property damages you might cause to them. 

Would you like to update your commercial insurance in Wheat Ridge, CO, and its environs? Please contact CO Insurance Specialist for more information.

Why Business Owners Need Commercial Insurance While They Work At Home

CO Insurance Specialist offers insurance coverage to the Wheat Ridge, CO community. For over 25 years, we have helped our clients find the policies they need to protect their assets. We proudly serve as an independent insurance agency.

Why Commercial Insurance Is Important For Work Home Businesses

Commercial insurance helps Wheat Ridge, CO business owners protect their investments. The policy covers your property if it is damaged or stolen. Liability coverage protects your business if a customer slips and falls while visiting your business or alleges that using one of your products caused an injury or illness. Workers’ compensation protects your business from being held liable if an employee suffers an injury on the job. If you are operating your business from home, commercial insurance is still beneficial in several ways.

Cybersecurity Coverage

If you are operating your business from home, you are likely using a tablet, computer, or some other type of electronics to operate your business. Hackers may attempt to capitalize on this and corrupt your data. Consider adding cyber coverage to your commercial insurance policy. Cyber coverage will help you avoid serious losses if your business network is compromised.

Property Coverage

Business property coverage protects your items if they are damaged or stolen. Take inventory of your personal items used to operate your business before adding coverage.

Business Interruption Coverage

In the event that a disaster occurs and you are unable to operate your business, business interruption coverage will help your business stay afloat until things are restored.

Commercial Auto Coverage

While you are operating your business from home, if you need to use your vehicle to complete tasks, you’ll need commercial coverage. Commercial auto coverage protects your vehicle if it is damaged while you are using it for business-related endeavors.

CO Insurance Specialist Will Help You Protect Your Business

Visit our website today to learn more information about commercial insurance.

Required Commercial Insurance in Colorado

In Colorado, there are certain types of insurance policies that are required for business owners to have. If you don’t have the insurance you need for your business, or you want more, call us in Wheat Ridge, CO to talk to a CO Insurance Specialist.

Workers’ Compensation Coverage

In Colorado businesses, it is required to have a workers’ compensation policy for your employees. No matter how many employees you have, even if it’s just one, this insurance has to be in place. And, if you have someone who performs work for your business, the state presumes that they are an employee and subject to workers’ compensation coverage. 

Commercial Auto Coverage

If your business owns a vehicle, it is required that it have a commercial auto insurance policy. The policy has mandatory minimums for the amount of bodily injury liability you have for one person hurt in an accident. It must have another minimum coverage amount for everyone who is injured. It also must have a specific minimum for property damage liability that comes from an accident. 

If you use your personal car for business tasks, a personal auto insurance policy likely won’t payout for an accident that happens when it is driven for business purposes. There’s a different type of insurance for those cars called non-owned and hired insurance. 

Optional Insurance for Small Businesses

While these policies are required for small businesses, there are many other types of coverage that are optional. This includes a business owner’s policy, general liability coverage, and cyber liability insurance. Professional liability insurance is highly needed for certain types of businesses. 

Get Your Business Covered

If you need insurance for your small business, call our Wheat Ridge, CO office and make an appointment to speak with a CO Insurance Specialist about the best policies for your business. 

Biggest Issues for Small Businesses

Growing a small business and making sure it survives can be challenging. There are a few issues that you should be aware of if you own and operate a small business.

Health Insurance for Employees

You’re considered a small business if have 50 employees or less. If you decide to provide group health insurance for them, it can be difficult to manage the financial responsibility, but having the right insurance agents can give you peace of mind. Talk it over with your independent insurance agents in Wheat Ridge, CO at CO Insurance Specialist to find how health insurance can benefit you and your employees.

Overworking Yourself

Getting a business going takes lots of long hours and more patience. It may be years before you’re no longer working 80 hours a week. Just remember that your hard work will pay off if you’re motivated. Balancing your work and life is a top challenge that many business owners face. Try to take a few hours a week to decompress. Schedule a spa visit or hit the gym to let off some steam, so you don’t become too exhausted to enjoy your success.

Managing Your Money

You can’t do it all. Just because you’re a fantastic cook and your restaurant is packed every night, doesn’t mean that you can manage the books yourself. Having someone else manage your finances will let someone else see where your vulnerabilities lie. They’ll be able to see where you need to make cuts and where you can invest. If hiring someone is a task, then have a friend or relative take a look. You can barter their bookkeeping skills by helping them with something they need, like moving.

Commercial insurance is the best protection you can give to your business. Go to Wheat Ridge, CO today, and speak with an agent at the CO Insurance Specialist.

3 Ways Commercial Insurance Protects Your Investments

As a business owner, you have invested a great deal of time and money into your company. You want to protect this investment the best way you can. For business owners, commercial insurance is an important way to do this. At CO Insurance Specialist serving Wheat Ridge, CO, we love to help business owners understand their options better. Keep reading to learn 3 ways commercial insurance protects your investments. 

What is Commercial Insurance? 

Commercial insurance is a special suite of insurance policies which are put together to help business owners protect their company and investments. You, as the business owner, are in a special risk bracket because you are the one who has invested the most time and money into your company. Problems can have a devastating effect on you financially. Commercial insurance is there to lessen this financial impact. 

What Does Commercial Insurance Cover?

Commercial insurance can be customized to address the special needs of each company, but in general commercial insurance will cover the following areas:

Property Damage- This coverage kicks in if there is any damage or loss to the physical property which houses your business. If you operate a brick and mortar location, you will want to look into this type of coverage. 

Vehicle Coverage- Many businesses must operate vehicles in order to conduct their business. Commercial insurance will cover the vehicles being used by your company as well as cover the operators of those vehicles. 

Liability Coverage- Liability coverage is very important for business owners. If your customers are injured at your location, or their property is damaged because of an employee or as a result of using your service, you could be held liable for costs or for legal fees. If an employee is injured while working for you, you could also be held liable for the costs of their injuries and expenses. Liability coverage will kick in to cover these expenses so that your assets are not put at risk. 

If you would like to learn more about commercial insurance, please contact our staff at CO Insurance Specialist, serving Wheat Ridge, CO. 

Do I Need Commercial Insurance For My Home Business

Owning your own home business in Wheat Ridge, CO can be a dream come true. You are finally your own boss and you make decisions about your time and talent. But with freedom comes the potential to have things happen to your business that is now your responsibility. Since you are running your business from your home you may be wondering if it is covered by your home insurance or do you need commercial insurance for your home business?  At CO Insurance Specialist our team of expert agents will be happy to help you to understand how best to protect your home business. 

The type of commercial insurance that you may need for your home business depends on what type of business it is. Home insurance may give you limited coverage on your business equipment and inventory but there is a real possibility that the limits on your policy won’t be as high as you might need to be able to continue to do business after a covered event. Commercial property insurance can be tailored to your business so that you will be able to get right back into business as soon as your claim is approved. 

For some types of home businesses, it may be a good idea to have professional liability insurance and general liability coverage.  They offer you protection against being sued by customers pr clients. If someone comes to your home to get the service, they may be hurt while visiting. Advice that you gave to a client may be deemed to have caused them harm and they may seek a judgment against you. Liability insurance is great protection for you personally and your home business.

These are just some of the types of commercial insurance that are offered. Visit CO Insurance Specialist in Wheat Ridge, CO or a call our office and we will help you to make sure that your home business is protected.  

What Is The Worker’s Compensation Law In Colorado?

Colorado is one of the fastest-growing markets for small business ownership. One of the most important aspects of starting a commercial business is insurance. While the CO Insurance Specialist offers a wide range of insurance solutions for Wheat Ridge, CO, today we are discussing Worker’s Compensation, and what the law says employers must do about it.

What Is Worker’s Compensation?

Worker’s Compensation is a type of insurance employers are legally required to have. It covers work-related injuries or illnesses, regardless of who is at fault. The trade-off is an employee cannot sue their employer for such illness or injury, as long as it’s covered by the insurance.

What Are My Obligations As An Employer?

If you employ at least one person at full- or part-time then you are required by Colorado law to have worker’s compensation insurance. There are few special cases where this requirement is expected. As an employer, you are responsible for reporting an employee’s injury within 10 days. You also have the right to designate a medical provider to care for your employees. 

What is covered by Worker’s Comp?

In general, worker’s compensation insurance benefits cover health care expenses occurring because of an accident during normal business operations. This includes incidents that result in temporary disability, permanent disability, and death. The types of expenses deemed reasonable and necessary are determined by the Colorado Division of Worker’s Compensation. All filings and claims are handled by this entity. 

What Is NOT Covered By Worker’s Comp?

When an employee is injured due to being intoxicated by drugs or alcohol on the job, then compensation may be reduced or forgone altogether. This is also true in cases where an employee failed to use designated safety equipment. 

If you are a Wheat Ridge, CO business owner looking to learn more about commercial insurance, please reach out to the CO Insurance Specialist today!

Insurance Partners
  • Allied
  • Auto Owners
  • Bristol West
  • CNA
  • Hagerty
  • Hartford
  • Infinity
  • Progressive
  • Safeco
  • Secura
  • State Auto
  • Travelers