The Facts About Commercial Insurance

Commercial Insurance is one of the more complicated plans for business owners in Massachusetts. Yankee Insurance offers a variety of coverage options that fall under the Commercial Insurance package. Let’s breakdown what these coverage options are and why you need them to protect your business.

Legal Requirements

If you operate a business in the state of Massachusetts, you are legally required to have Workers Compensation Insurance.

Workers Compensation Insurance typically falls under the coverages available in a Commercial Insurance plan. This insurance is federally required for employers even if you only employ part-time workers or family members.

Commercial Insurance Coverage

Commercial Insurance plans offer a variety of coverage options. These can include:

• Partial Closure coverage helps cover some of the costs of a temporary stoppage of business. This could be due to damages to your storefront or even a brief interruption in your supply chain. Even the most successful business will have to suspend regular business for improvements and growth temporarily.
• General Liability covers damages done to your customers or their property by your business. This is intentionally broad as it can include a variety of circumstances from someone slipping inside your shop to a vehicle damaging a lawn.
• Cyber Liability is a new type of coverage that has become a new norm. As our businesses become more and more digital, the threat of legal action due to data breaches, hacking, and other cyber issues becomes greater. This coverage protects you from damages resulting from things like hacking and lawsuits over data breaches.

Yankee Insurance offers a wide variety of Commercial Insurance packages. Give us a call or stop in today, and our insurance experts can help put together the Commercial Insurance plan that is right for you.