States have their own laws that govern what kinds of commercial insurance that businesses must-have. In North Carolina, two types of commercial insurance are required, but several more are highly helpful to businesses of every size.
When a North Carolina business has at least three employees, whether they are part-time or full-time, this kind of commercial policy is required. It pays the medical bills of those who are injured or get sick while at work. This saves you from having to pay these out of pocket when an accident or other incident occurs. For this reason, it is important liability coverage for you as well as for your employees.
This is the second type of required commercial insurance in North Carolina. Every vehicle in the state that is business owned must have a commercial auto policy. That policy must meet the mandatory minimum amounts for bodily injury liability per person and the whole accident. It also must have a minimum amount of property damage liability. The policy must also have a specific amount of coverage for uninsured motorists per person, per accident, and property damage done.
These required coverages offer the bare minimum of liability coverage, but they skip several businesses' risks. One recommended policy, general liability insurance, gives you more coverage for many possible incidents. There is also professional liability insurance. This coverage protects you against problems that come about through mistakes that you or your business make. There is also cyber insurance for problems that could happen to your business online.
When you need insurance for your business, call us at Fortified Insurance Partners in North Carolina to talk about the insurance policies you need in this state and recommended policies that can go a long way toward protecting you and your business.
