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Affordable Insurance

635 Hwy 62 E
Mountain Home, AR 72653

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Types of commercial insurance most businesses should have

At Affordable Insurance Inc in Mountain Home, AR, we understand the risks that all businesses face. Our job is to help our clients to manage their risks in a way that allows them to grow their business while protecting their assets. As independent insurance agents, we are able to offer more choices in coverage to help protect your business. We can offer you the benefit of our experience and also more choices with multiple carriers. 

Workers compensation insurance

Workers’ compensation insurance is good for both employers and employees. It protects employees in the event they are injured while doing their job. It provides medical benefits as well as lost time payment. It also has death benefits and permanent disability coverage. In Arkansas, if your business has three or more employees, you are mandated to have workers’ compensation insurance. 

Commercial liability insurance

One serious risk every business faces is being sued. More than 30% of businesses will face legal action in any given year. That makes it a risk your business has to consider mitigating. Commercial liability insurance will help to pay a judgment against you and also for the legal assistance you need. Given the risk level, it makes good sense to carry this affordable coverage. 

Commercial property insurance

If you own the building that houses your business, commercial property coverage is a must, but even if you are a renter, you have an awful lot of property that is necessary for you to do business. Whether it is machinery, office equipment, electronics, tools, records, raw materials, or inventory, they all need to be protected. Read your policy to make sure exactly what is and isn’t covered. You want to make sure you have the protection you need. 

Contact Affordable Insurance Inc in Mountain Home, AR to get your personalized commercial insurance.

Equipment Breakdown Coverage: What It Is and How It Can Help Your Business

Regardless of the industry, you’re doing business in, you will be unable to move forward with your business and make money if you suffer an equipment breakdown. In situations like these, equipment breakdown coverage as part of your overall commercial insurance policy can come in handy. Affordable Insurance Inc wants to share more information about equipment breakdown insurance with Mountain Home, AR residents.

What Exactly Is Equipment Breakdown Coverage?

When you have a commercial insurance policy for your business, equipment breakdown coverage, equipment breakdown coverage is an additional yet optional coverage option. The main purpose of this coverage is to cover any cost of repairs/replacements of malfunctioning or damaged equipment. Depending on your exact policy, it could reimburse you for lost income as a result of the failure.

For example, if you are a restaurant owner, it would be impossible to cook food, provide lighting for the space, or run your payment systems if there is a power outage. If this outage lasts for several days, you may end up dealing with spoiled inventory. In the end, you could be out thousands of dollars or more. Equipment breakdown coverage can come to the rescue.

What Kinds of Situations Are Usually Covered?

Equipment breakdown coverage can cover anything from mechanical issues and faulty equipment to unexpected HVAC breakdowns. Almost anything that causes your business to be shut down and no longer able to serve clients or customers is typically covered. If you are curious about a particular situation, don’t hesitate to speak to an insurance agent.

For more specific commercial insurance questions related to your individual business in Mountain Home, AR, contact us at Affordable Insurance Inc today.