Colorado is a great place to own a business, and it’s essential to know the types of commercial insurance you need. If you have a Colorado business, there are two types of commercial insurance your company might require. You need to learn what they are and whether each is required for your specific business. In addition to these policies, you should also look into other helpful coverage types. Make sure you know what is available and how it can help you protect your business and finances. Call us at AFI Insurance in Denver, CO to find out more.
Commercial Auto Insurance
Does your Colorado business own a vehicle? If so, you are required to have a commercial auto policy on it. This is true for each vehicle that you own. This policy protects you and your business by paying for the property damage and injuries that can be caused in an accident. The state has different types of coverage required to be in these policies, including bodily injury liability amounts and an amount for property damage liability. You can add to the state’s minimums if you want better protection. You can also add collision insurance which pays for the damages to your company’s vehicle.
Workers’ Compensation Insurance
Your Colorado business must also have workers’ compensation insurance if it has any number of employees. The state assumes that anyone working for your company is an employee, and they must have a policy in place. This coverage protects you from having to pay the high medical bills due when someone is injured at work.
Get Commercial Protection
When you have a business to protect, we can help. Just call us at AFI Insurance in Denver, CO.