Kansas businesses purchase a wide spectrum of insurance policies to protect their company. These policies cover the structure, equipment, and their inventory stored inside the building. This level of protection covers fires, natural disasters, and flooding. However, business owners must acquire several options to protect their investment fully.
Common Liability Protection
Owners choosing business insurance in Wichita KS need protection against common liabilities. They include potential slips and falls that could occur in unsafe conditions. These liabilities are related to any visitors that enter their building and could become injured.
If the company produces merchandise that is distributed to the public, they need protection against product’s liabilities. When a problem arises, consumers have the right to file a claim. This coverage provides a settlement to cover the cost of medical treatment after an injury.
Employee Injury Coverage
All businesses that hire workers purchase worker’s compensation to cover the cost of employee injuries. It also provides them with a portion of their earnings if they are out of work for longer than one week. Federal laws require all business owner’s to acquire the insurance even if their workers are relatives or volunteers. The coverage prevents a potential financial hardship for the worker.
Business Vehicle Coverage
All vehicles used for the business require coverage through the business insurance in Wichita KS. The owner must purchase coverage, according to the mandatory auto insurance requirements for the state of Kansas. However, they must also possess coverage for potential liabilities associated with performing services and other job duties connected to the business. In most instances, the coverage applies only if the worker is using the vehicle for business purposes.
Group Rate Health Insurance
Employers have the opportunity to acquire group-rate health insurance for their workers. This allows them to pay a portion of the insurance and reduce the financial burden on their workers. When a large quantity of workers opt-in for the coverage, the employer acquires a discounted rate that is more affordable.
Businesses in Kansas should review policies that protect their company. This reduces the worry associated with providing services and hiring employees. It also prevents stress related to securing the building and its contents. To review these policies, contact Andy Woodward Insurance Agency today.
