In Kansas, business owners conduct risk assessments and determine what types of liabilities are possible. The liabilities could arise on their property, at off-site work sites, and due to common failures. A local agency could provide the company with business insurance in Wichita KS.
Business Interruption Insurance
At any time a business property is destroyed, the business interruption insurance provides funds to replace lost profits. The business owner receives the funds until the property has been restored and the company reopens. The funds could provide adequate capital to cover company expenses and prevent the company from shutting down entirely. The value of the funds is determined according to choices made at the beginning of the policy and the company’s net worth.
Commercial Auto Coverage
Commercial auto coverage provides funds in the event that a driver of a company vehicle is in an accident. The policies pay for any accident injuries and property damage. Common liabilities associated with business deliveries are often included in the policy as well. The products that are transported could be replaced to lower the chances of a financial loss. However, the automobile is used for business purposes only to maintain coverage.
Worker’s Compensation Insurance
Worker’s compensation insurance is a policy that provides payments to injured workers. The worker is sent to an emergency room for a complete assessment. If they have an eligible condition, the policy pays the full expense of their medical treatment. If the recovery time is longer than fourteen days, the workers will receive monetary benefits to replace their wages.
Professional Liability Coverage
Professional liability coverage protects against lawsuits that are filed after injuries or a breach of contract. The liabilities are covered by the insurance policy, and clients are compensated through a claim. The policy provides protection against a major loss.
In Kansas, business owners evaluate insurance opportunities to protect their interests. The policies offer funds to help the company thrive after a natural disaster or fire. Auto coverage mitigates common risks associated with accidents. Business owners who want to learn more about business insurance in Wichita KS can contact Andy Woodward Insurance today for more details or a free quote.