Business & Commercial Insurance
Business & Commercial Insurance Information
Tango, Tango & Tango's Commercial Lines Agents are eager to assist Long Island Businesses find the right business insurance for business owners
Serving Commack, Rockaway, Hauppauge, Long Island, New York
Are you just starting your first business? Have you worked hard to build your existing company from the ground up? In either case, you want to protect everything you have created. It’s the benefits offered by strong business insurance that will help you do so.
For help getting proper business insurance come to Tango, Tango & Tango, Inc. We are an independent agency with expertise in all lines of business insurance. We’ll be your guides in researching, comparing and enrolling in the plans that offer you optimized benefits at all times.
Common Business Insurance Questions
Business owners face countless liabilities every day. These involve employees, clients, property, electronic data and numerous other assets. Any problem involving these assets could wind up costing the business a lot of money that it might not have, and its own sustainability could come under threat.
Business insurance exists to help minimize these risks of financial loss. If a problem ever does occur, you can use your benefits to receive payment for your recovery costs. Therefore, you won’t spend incalculable business assets trying to pick up the pieces of losses you could not have foreseen.
The commercial insurance marketplace is made up of numerous policies, and each works in different ways. Plans that you will likely need to carry likely include:
- Property Insurance: If something damages physical property, such as your building or possessions, then this coverage can help you repair or replace them.
- General Liability Insurance: This covers the business in the event it causes property damage or bodily injuries to another party, such as a client or vendor.
- Business Interruption Insurance: This helps you pay the bills if you must temporarily close after a damaging accident.
- Commercial Auto Insurance: When the company owns vehicles, this coverage will provide the requisite physical damage, liability and other benefits to help the company afford the costs of wrecks or other vehicle hazards.
- Workers Compensation Insurance: If an employee gets hurt on the job, they are often eligible for workers compensation. It will provide them supplementary income during their recovery.
- Errors & Omissions Insurance: Professional advice or mistakes could cause clients a financial loss. This coverage can compensate them on behalf of the business.
- Surety Bonds: If you are contractually obligated to certain clients, then bonds will guarantee them that you will repay them if you cannot meet your obligations.
Additionally, you will likely need to expand your benefits to include coverage like:
- Inland Marine Insurance
- Employment Practices Liability Insurance (EPLI)
- Products/Completed Operations Liability Insurance
- Cyber Liability Insurance
- Umbrella Liability Insurance
- Hired/Non-owned Auto Liability Coverage
You might be required to buy certain types of business coverage. For example:
- Businesses that own or operate vehicles might need commercial auto insurance.
- Regulations might require businesses to carry general liability insurance.
- Most states require most businesses to buy workers compensation insurance.
- Surety bonds are often required by clients if you work in a contracting position.
When you file a claim on any business insurance plan, the terms, policy limits, deductibles and exclusions within will determine how much assistance you can receive. Therefore, it’s imperative to buy a plan that will always guarantee you appropriate compensation. We will help you determine how your current financial security can be protected by the corresponding insurance solutions.
Small business owners often buy their foundational insurance benefits as part of business owners policies, also called BOPs.
BOPs contain multiple types of coverage within one package, and the terms and limits of these policies are designed to fit the coverage needs of smaller operations. BOPs are also more easily managed, customized and affordable for time- and cost-conscious small business owners.
Many different factors like the size of your business, the liabilities present in it and the types of policies you buy will influence your commercial insurance portfolio’s cost. If you are more likely to file a costly claim on a plan, then you are likely to pay more for it.
Still, there are many ways to save on plans, too, and you can trust our agents to help you determine the optimal combination of benefits that will offer you the best value for your coverage.
Learn more about what Commercial Auto Insurance, General Liability Insurance, and Workers Compensation is and get your no-obligation quotes from our trusted Commack-based staff of knowledgeable insurance agents.
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