What is business insurance?
Business insurance offers coverage that protects businesses from potential risks that may result in financial losses. This type of insurance typically offers various forms of coverage — ranging from basic liability to employee-related protections.
villaNova Insurance Partners offers business insurance in and near Kings of Prussia, Pennsylvania. As reputable, experienced, and licensed insurance brokers, we provide a complete service catered to each aspect of your business insurance needs. Our solutions for business insurance include policy analysis, contract review, claims management services, and more.
It is both important and required for businesses, small and large, to have some form of protection, therefore, companies must be attentive in choosing the right coverage for their needs. Companies choose their business insurance based on their potential risks, depending on what type of company they are, where they operate, or how large of an entity they are. Business insurance makes up a large amount of all the insurance coverage in the U.S.
Choosing business insurance coverage isn’t a simple task, because all businesses do not require the same coverage. We are here to offer advice and answer some questions you may have about choosing the right coverage for your potential business problems.
Have enough liability insurance
A common mistake some businesses make is buying too little liability insurance. It can cost a company thousands or hundreds of thousands of dollars if hit with a lawsuit. Lawsuits can harm your company's financial stability and its reputation. Making sure you have enough liability insurance can protect your company from potentially being put out of business.
At villaNova Insurance Partners, we provide our clients with a variety of liability business insurances to businesses near the King of Prussia, Pennsylvania area, including:
- Cyber liability
- Directors and officers liability
- Employment related practices liability
- Professional liability
- Umbrella Liability
Adjust your coverage as needed
As your business changes and grows, you should be adjusting your coverage along the way. Adding additional locations or growing the number of employees you have requires more insurance. New client or vendor contracts may require additional insurance coverage as part of the terms of agreement. You can adjust your business insurance by contacting your broker in advance so they can help you through the process.
Our firm offers many programs for businesses in the King of Prussia area. As your business grows, you may need to consider automobile, crime, workers’ compensation, ocean and inland marine, or bonds insurance. Additionally, we provide specialized programs for home inspection, real estate staging, architecture and engineering, and home healthcare industries. As you adjust your business insurance, we will continue to be flexible for you.
Consider choosing a higher deductible
A deductible is the amount of money you pay towards a loss before your insurance policy pays the rest. Most insurance policies require some form of deductible, and there are different types. Percentage deductibles involve an agreement that the policy-holder pays a percentage of a property’s value, while flat deductibles involve an agreement that the policy-holder pays one flat rate, regardless of the amount of the loss.
Companies who select higher deductibles may save money on insurance premiums by paying for small losses out of pocket. Choose the largest deductible your businesses can handle to reduce your premium and lower your monthly or annual payment.
Business insurance brokers near Kings of Prussia, Pennsylvania
Looking for a business insurance broker near you? villaNOVA insurance brokers offers businesses near King of Prussia, PA professional and experienced insurance services. Our passion for helping clients stands out from others, because our prioritized services and products help you achieve your unique goals.
Get in touch with us today to learn about our business insurance.