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CO Insurance Specialist

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

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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!

Choosing the Best Wheat Ridge, CO Commercial Insurance

Having commercial insurance is an important part of operating a business. If you are not covered correctly, your Wheat Ridge, CO company could be at risk. You also want to make sure you are protecting your employees and customers. You can do that in quite a few different ways, but insurance is one of the ways you will want to focus on. Here is what you should know when choosing your insurance from CO Insurance Specialist.

Not All Businesses Need the Same Type of Insurance

There are a lot of different kinds of businesses, and they all have different insurance needs. A large, industrial company will not need the same kind of coverage as a small office. That is important to keep in mind. While you want to have enough coverage, you also do not want a lot of coverage that is really not needed. Knowing what your business really needs can help you choose the right policy.

Working With an Agent You Trust Helps

One of the best ways to get proper coverage is to work with a trusted company and agent. Then you have the peace of mind that comes with working with a professional, and you can get all your commercial insurance questions answered. An agent can tell you about your options, and help you pick the one that will give you the coverage you need.

As Your Needs Change, So Should Your Insurance

Your commercial business may grow and develop over time. If it does your insurance needs will change, too. Contact us at CO Insurance Specialist today, and let us help you get the right commercial policy for your Wheat Ridge, CO business. Then you can have peace of mind all the time, even as your business continues to grow.

Does Commercial Insurance Cover Damage From Hail?

Businesses are faced with a wide variety of threats, including damage from a hail storm. Hail damage is one of the most costly types of damage in the country and affects many businesses yearly. That is why it is important to know if a business is covered if they receive damage from a hail storm.

Hail Damage To A Business

Having adequate commercial insurance will protect a business from threats such as hail damage. Most commercial insurance policies have this coverage built in, but it’s important to make sure before purchasing a policy. If the policy does not have the coverage built in, find out if there is an option to purchase a rider to get protection to avoid losses. No one knows when hail will be a threat, which is why it is important to not take chances when it comes to nature. 

Getting The Right Coverage

Fiding the right type of commercial coverage can mean having security and protection from potential disastrous events such as hail. Before selecting a commercial insurance policy, make sure to work with an insurance provider who is experienced in the industry and has a reputation for excellent customer service. People who own businesses in or around the Wheat Ridge, CO area, know that they can count on CO Insurance Specialist to guide them through the process of selecting the right insurance with the right features built in for their individual needs. 

Anyone who is interested in finding high quality, dependable insurance that can protect from threats as a result of the weather should stop by or call the CO Insurance Specialist to get more information and discover products designed to protect the business owners in and around the Wheat Ridge, CO area. 

What Business Owners Need to Know About Workers’ Comp Insurance

Despite the fact that you go to great lengths to keep your workspace safe, accidents do happen. When those accidents happen it can get expensive. Worker’s Compensation insurance is a way to protect yourself and your company from being held responsible for these costs.

What is Workers’ Compensation?

Workers’ compensation is an insurance policy that will kick in in the event that you have an employee who is injured on the job. This policy will pay for medical expenses and wage replacement while the employee is out of work. It will also pay for any liabilities that may result from a lawsuit. 

Why Do Employers Need This Insurance?

Employers are required by law in most states to carry workers’ compensation insurance. In addition to being required by law, this is a sound investment in the financial health of your company. Should an employee sustain a serious injury that would require extensive medical bills and much time out of work, you could be held liable through a lawsuit to pay for these expenses. This could put your entire company at risk if it were very costly. Paying the workers’ compensation premiums is much more affordable than being slammed with a hefty lawsuit. In addition, many workers view a good workers’ compensation plan as part of the benefits of being your employee. This tells them that you care about your employees and want to protect them. 

Is Everyone Required to Have This Insurance?

No, not all companies are required. Most states base their requirements on how many employees a company has on staff as well as other criteria. 

If you would like to learn more about workers’ compensation insurance, please contact our friendly staff at CO Insurance Specialist Wheat Ridge, CO. 

The Necessity of Commercial Insurance for business.

Commercial insurance aims at shielding a business together with its owner and his employees. It is a requirement of the law and also a good precaution to take in case a disaster strikes, your business, and its assets are covered. This way, the business does not close its doors when there is a disaster because the insurance cover you have takes care of any losses.

Wheat Ridge, CO specializes in commercial insurances for freelancers who have been on the increase lately. CO insurance Specialist has taken It upon themselves to encourage freelancers to insure themselves and their businesses and educate them on the types of commercial insurances below:
Property coverage: This is to freelance firms which include property for example home offices.  This insurance covers any damage that befalls the home office.
General liability: In case someone sustains a bodily injury and tries to sue you, commercial Insurance for SMME’s has you covered. This type of insurance also protects you and your business against libel, copyright issues and slander.

Professional liability: Sometimes your actions may cause your clients to have financial problems. This insurance coverage protects you from lawsuits in case the clients decide to sue you.

It is important to have commercial insurance to protect you and your business. Without a commercial or business insurance, you risk losing it all in case of a tragedy or if you get sued by a client.  Liability insurance protects you and makes sure you stay in business even when you lose a lawsuit. 

CO Insurance Specialist has got all freelancers in Wheat Ridge, CO covered. They have agents who serve all residents living near or in Wheat Ridge, CO. The agents are available, reliable and very customer friendly. It is imperative to do thorough research before choosing a commercial insurance cover to ascertain that the type of coverage you choose relies on the business you are involved in. Call us today for the best commercial insurance services.

An Overview On Commercial Insurance

Part of what makes running your own business such a thrilling experience is taking calculated risks and seeing them pay off. However, a savvy businessperson is aware that a disaster could strike at any moment and force the business to close its doors. Moreover, if you have employees, assets, and running contracts, the law requires you to have business insurance.

Nonetheless, as insurance might not be one of the fields you have specialized in, you might feel out of your depth when looking into commercial insurance coverage. CO Insurance Specialist, which serves the people of Wheat Ridge Co and other parts of Colorado, understands how insurance can be a hard topic to comprehend. Thus, our experts have taken the initiative to help you know the basics of commercial insurance, so you can be more knowledgeable when choosing your coverage.

What is Commercial Insurance?

Also known as business insurance, it is an insurance product meant to protect a business, its owner, and the employees. But as there are different types of businesses, there is no one-size-fits-all commercial insurance policy. As such, the type of coverage you choose relies on the business you are in.
Nonetheless, most commercial insurance policies incorporate basic coverages such as liability, property, auto, crime insurance, as well as other optional but necessary coverages such as equipment breakdown insurance, workers compensation, and business interruption insurance.

In spite of that, there are two main commercial insurance coverage options, and they include Commercial Property and Commercial Liability policies.
A commercial property coverage protects your business assets – buildings, equipment, vehicles, stock, furniture, etc. – against theft, floods, fires, vandalism, and more.
A commercial liability coverage protects you against any claims for damages caused by either your business operations or as a result of using your products.

CO Insurance Specialist has many other customized commercial insurance packages designed to fit your type of business. Thus, if you are in Wheat Ridge, CO, give us a visit us or contact us, and we will be glad to serve you.

Types of Commercial Insurance for Freelancers

Wheat Ridge, CO has seen an increase in freelancers lately, which is typical for the national trend sweeping the nation. Unfortunately, we at CO Insurance Specialist have noticed freelancers aren’t taking the proper steps to ensure themselves. That’s because they don’t quite understand that they are a business and might need some protection. Therefore, it is critical to know what kind of freelance commercial insurance is available and how it helps protect your financial freedom.

The Types You Can Expect

When buying commercial freelancer insurance, your options include:

  • General Liability – Covers you when somebody tries to sue you after suffering a bodily injury. Can also protect you against slander, libel, and copyright issues.
  • Property Coverage – If your freelance business includes property (such as an office in your home), commercial property insurance will cover any damage that occurs to it.
  • Professional Liability – When your actions somehow cause financial problems for your clients, this type of coverage can protect you in lawsuits.

Thankfully, you can add all of these types of coverage to your commercial insurance to create a diverse policy that ensures maximum protection.

Is It Strictly Necessary?

While you might not strictly need freelancer commercial insurance, it’s great to have it when you need it. Without this type of coverage, you could be sued and end up losing everything in a lawsuit. However, your liability insurance will protect you and ensure that you can stay in business and even rebound if you lose the lawsuit. When you do, your liability insurance will pay.

Protect Your Freelance Business

So if you are a freelancer in Wheat Ridge, CO and want to protect your business needs, please don’t hesitate to contact us at CO Insurance Specialist. We will take steps to ensure that your business needs are protected and that you don’t suffer from any losses.

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