Name: Avalue Insurance
Address: 7700 E Arapahoe Rd., Ste. 330, Centennial, CO, 80112
Telephone: 303-773-3332

Why Liquor Liability Can Make or Break Your Restaurant

Posted on November 11, 2024November 11, 2024 by Emilie Hagopian

Owning a restaurant is no small feat. From managing daily operations to delighting customers with amazing food, you’ve got a full plate. But, if your establishment serves alcohol, there’s one more crucial piece to the puzzle: liquor liability insurance. This coverage can be a true lifesaver, protecting your restaurant from potential legal and financial fallout if a customer who drank at your place causes an accident or gets into legal trouble. Let’s talk about why liquor liability insurance is crucial and what it can do for your business.

Why Do Restaurants Need Liquor Liability Insurance?

When it comes to serving alcohol, a lot is at stake. Despite your team’s best efforts to serve responsibly, things can go sideways. Liquor liability insurance steps in to cover damages if a patron overindulges and, as a result, causes harm to others or property. In many cases, restaurants can be held liable for what happens after a customer leaves the premises under what’s called “dram shop laws.” These laws allow injured parties to sue businesses that provided alcohol to someone who caused harm, which can lead to costly lawsuits.

Imagine this: A guest enjoys a few too many cocktails at your restaurant, decides to drive home, and gets into an accident. The victim could hold your restaurant partially responsible, even if you had no way of knowing your customer’s full intentions. Liquor liability insurance provides coverage to handle legal fees, settlements, and potential damages, protecting your restaurant’s bottom line and reputation.

What Does Liquor Liability Insurance Cover?

Liquor liability insurance goes beyond just covering damages; it’s designed to provide comprehensive protection in situations involving intoxicated patrons. Here’s what it generally covers:

Third-Party Bodily Injury – This coverage protects you if a patron who consumed
alcohol at your restaurant injures someone. This can include coverage for medical
expenses, legal fees, and settlements.
Property Damage – If an intoxicated patron damages someone else’s property, like a
vehicle or another business, your policy could cover repair or replacement costs.
Legal Fees – Lawsuits are expensive. Liquor liability insurance can take care of legal
defense costs if your restaurant is taken to court.
Assault and Battery – Some liquor liability policies cover incidents of assault and battery
if they’re linked to alcohol service. This could include fights that break out on or near
your premises.

Ready to Protect Your Business?

Liquor liability insurance isn’t just another policy; it’s a necessary layer of protection for any restaurant serving alcohol. With the right coverage in place, you can rest a little easier knowing you’re prepared for unexpected situations. At Avalue Insurance, we understand the unique risks restaurants face and are here to help you choose a policy that fits your needs.

Get in touch with Avalue Insurance today to learn more about liquor liability insurance and how we can help protect your restaurant! You can give us a call at 303-773-3332, email us at info@avalueinsurance.com, or request a consultation right here online!

The Role of Workers’ Compensation in Your Commercial Insurance Package

Posted on October 29, 2024October 29, 2024 by admin

Running a business in Centennial, CO comes with its fair share of responsibilities, and one of the most important is ensuring the safety and well-being of your employees. This is where workers’ compensation insurance comes into play. At Avalue Insurance, we understand the crucial role workers’ compensation plays in your commercial insurance package.

What is Workers’ Compensation Insurance?

Workers’ compensation insurance is designed to protect employees who get injured or become ill as a result of their job. It can cover medical expenses, rehabilitation costs, and a portion of lost wages. Additionally, it can provide death benefits to the family of an employee who dies due to a work-related incident.

Why is Workers’ Compensation Insurance Important?

Workers’ compensation insurance is not just a legal requirement in most states, it’s also a crucial part of protecting your business. Without it, you could be held financially responsible for the costs associated with a work-related injury or illness. This could include medical bills, ongoing care costs, and legal fees if an employee decides to sue.

How Does Workers’ Compensation Fit into Your Commercial Insurance Package?

Workers’ compensation is a key component of a comprehensive commercial insurance package. While commercial property insurance protects your physical assets and commercial liability insurance covers claims of bodily injury or property damage, workers’ compensation insurance specifically protects your most valuable asset – your employees.

Choosing the Right Workers’ Compensation Insurance

Choosing the right workers’ compensation insurance can be complex, but you don’t have to navigate it alone. The team at Avalue Insurance is here to help you understand your options and choose a policy that fits your business’s needs.

At Avalue Insurance in Centennial, CO, we’re committed to helping businesses protect their employees and their bottom line. Contact us today to learn more about how workers’ compensation insurance can benefit your commercial insurance package.

Pit Stop Problems

Posted on October 20, 2024October 20, 2024 by Emilie Hagopian

5 Common Risks for Commercial Garages and How Insurance Handles Them

Owning a commercial garage is no small feat. You’re juggling a lot of moving parts (literally!), and it’s all happening in a risky environment. Customer vehicles, heavy machinery, hands-on employees, hazardous materials — there’s a lot to think about, and a lot that could go wrong in your garage! Accidents are bound to happen, and when they do, commercial garage insurance could be the only thing standing between your business and a total financial breakdown.

But let’s not get ahead of ourselves here. First, let’s talk about commercial garage insurance and why it’s important. Then, we’ll talk about some of the most common risks that commercial garages face (and how insurance can help you handle them).

What is Commercial Garage Insurance?

Garage insurance is designed to protect you from all kinds of potential losses — think property damage, customer injuries, or even a lawsuit. With garage insurance, you get a bundle of coverages like general liability, which shields you from financial liabilities due to accidents, and a business owner’s policy that protects your property and income. You can also include workers’ compensation for your employees and garage-keepers legal liability to cover vehicles under your care. Basically, it’s a type of coverage that’s best suited for the garage-keeping business.

Risks You’ll Face (And the Coverage You’ll Need)

1). Customer Slip-and-Fall

You know how it goes — oil spills, tools on the floor, or maybe even that slick patch of snow right outside the door. A customer slips and suddenly, you’re facing a potential lawsuit. Yikes! General liability insurance has your back here. It helps cover medical costs or legal fees, so one small accident doesn’t turn into a business-ending disaster.

2). Tools Gone Missing

Ever have a situation where a wrench, tire iron, or maybe even a jack goes “mysteriously missing”? The tools and equipment in your garage aren’t cheap, and losing them — or worse, having them stolen — can really set you back. That’s where a business owner’s policy (BOP) steps in. It covers not just liability, but property loss too. So, if your tools take a walk, you’re not left scrambling to replace them out of pocket.

3). Damage to Customer Vehicles

You’re working on a customer’s car and something goes wrong. Maybe another vehicle bumps into it in the lot, or something falls and dings the paint job. Uh-oh. This is where garage-keepers legal liability comes into play. It’s specifically designed to cover any damage to vehicles that are in your care. So, whether the car’s in the shop or sitting outside waiting to be picked up, you’re covered.

4). Employee Injuries

Running a commercial garage isn’t exactly desk work. Your employees are on their feet, lifting heavy objects, and working with dangerous tools. Accidents happen! Workers’ compensation insurance ensures that if one of your employees gets hurt on the job, their medical bills and a portion of lost wages are covered, and your business isn’t hit with unexpected expenses.

5). Business Shutdowns

Imagine a fire breaks out, or a storm damages your garage, and you have to close for repairs. No income, no customers, but the bills still keep coming. That’s where business interruption insurance steps in like your financial safety net. It helps you pay your bills, keep your business afloat, and even cover the cost of temporarily relocating if needed.

Need Garage Insurance? Let Us Help!

At Avalue Insurance, we understand the unique risks that garage-keepers face. Our team is here to help you get all the coverage you’ll need to keep your business running smoothly. Give us a call at 303-773-3332, shoot us an email at info@avalueinsurance.com, or request a consultation right here online!

Real-Life Lawsuits That Could’ve Been Prevented with General Liability Insurance

Posted on October 20, 2024October 20, 2024 by Emilie Hagopian

Running a business is rewarding, but it also comes with its fair share of risks. One small mishap could turn into a big legal headache, and before you know it, you’re knee-deep in a lawsuit. The good news is, with general liability insurance, you can prevent these incidents from draining your bank account. Here are some real-life lawsuits that show just how important having the right coverage can be!

1). Slip-and-Fall Mishaps

Slip-and-fall lawsuits are one of the most common claims for businesses, and one restaurant learned this the hard way. A customer slipped on a wet floor and suffered a back injury, leading to a lawsuit for $100,000. The customer sought compensation for medical expenses, lost wages, and additional costs because they couldn’t work due to the injury. Without general liability insurance, the restaurant would have been on the hook for the entire amount, plus legal fees.

2). Property Damage Fiascos

Imagine running a bustling beauty salon and everything is going great — until one of your new beauticians drops a bottle of nail polish that spills all over a customer’s pricey handbag. That’s exactly what happened to a salon that was then sued by the customer to replace the damaged property.

3). Privacy Violations

Ever shared a before-and-after photo of a project online to show off your great work? Most businesses have. But one home decor business faced an unexpected lawsuit when a client discovered that photos of their remodeled wardrobe had been shared online without permission. The client sued for invasion of privacy, leading to a hefty legal process. General liability insurance can help cover these types of claims, making sure you’re not left financially drained over a misunderstanding.

4). Product-Related Injuries

A lawn care company thought they were doing their clients a favor by selling an organic pesticide. Unfortunately, a customer accidentally inhaled the product’s vapors and suffered a severe allergic reaction. The customer sued for $100,000 in medical expenses and other damages. Product-related injuries can be devastating for small businesses, but general liability insurance would have stepped in to cover the costs and keep the business afloat.

5). Copyright Infringement Gone Wrong

It’s easy to get inspired by others, but that inspiration can sometimes cross the line. A personal trainer started calling himself “The Rocker” after a celebrity with a similar name and used a photo of that celebrity in his advertisements without permission. This led to a copyright infringement lawsuit. The trainer’s general liability insurance would cover legal fees and potential settlements in a situation like this, making sure a branding mishap doesn’t bankrupt your business.

Protect Your Business from the Unexpected

These real-life cases show that accidents, misunderstandings, and mistakes can happen to anyone, no matter how careful you are. Having general liability insurance isn’t just about following regulations — it’s about protecting your business from financial ruin when things don’t go as planned.

Not sure if you’re fully covered? Let us help! At Avalue Insurance, we specialize in helping businesses of all shapes and sizes get the coverage that they’ll need for the road ahead. Give us a call at 303-773-3332, email us at info@avalueinsurance.com, or request a consultation right here online!

In-Office or Remote? Understanding Your Insurance Needs for Both

Posted on October 7, 2024October 7, 2024 by Emilie Hagopian

The debate between remote work and in-office work has been heating up over the past few years. With more businesses shifting to hybrid or fully remote models, many are asking a crucial question: How do insurance needs differ between remote and in-office employees? Many business owners with at-home businesses believe that they don’t need as much coverage as in-office businesses if any coverage at all! And while that may be partially correct in some cases, the risk of being underinsured is pretty high. So, let’s settle the debate once and for all!

What’s the Difference in Risk?

Remote Work: When employees are working remotely, the types of risks you need to consider are vastly different. For starters, the likelihood of workplace injuries like slips and falls decreases when they’re not navigating office corridors. However, other risks take the spotlight — think cyber security breaches, misuse of company property, or even liability for employees working from a rented space.

If you have a lot of employees working from home, your insurance should address risks like:

Cyber Security Coverage: If an employee’s home Wi-Fi is hacked, sensitive company information could be compromised.

Equipment Coverage: Laptops, tablets, and monitors used at home should be covered in case of damage or theft.

General Liability: What if an employee invites a client to their home office and an accident occurs? It’s rare, but it can happen!

In-Office Work: In contrast, having employees work on-site means you need to focus more on traditional office-related coverage, such as:

Workers’ Compensation: If someone slips on a freshly mopped floor or sustains an injury in the office kitchen, you’ll need coverage to handle those claims.

Property Insurance: This covers office equipment, furniture, and the space itself in case of fire, theft, or other damage.

General Liability Insurance: General liability protects your business from third-party claims like bodily injury or property damage that might occur on your premises. For example, if a client trips in the lobby, your insurance covers their medical costs.

Are Remote Workers Covered Under Standard Business Insurance?

One of the big questions businesses ask is whether traditional business insurance policies extend to remote employees. The answer is: it depends! Standard policies may not cover equipment and activities that take place outside the designated business premises. So, if your team is working remotely, it’s a good idea to review your coverage with your insurance provider and explore add-ons or separate policies tailored to remote work needs.

Hybrid Work: A Happy Medium, or Twice the Headache?

Hybrid work models mean employees split time between home and the office, which can complicate things a bit. You’ll need to ensure that both environments are adequately covered. This might include expanding your existing business policy to protect equipment at multiple locations or adding extra liability coverage for home-based operations.

So, What’s the Verdict?

Whether you’re running a fully remote, in-office, or hybrid team, understanding the unique insurance needs of each environment is crucial. Regularly reviewing and updating your policies will ensure you’re not caught off guard. And remember, just like choosing between office- and home-brewed coffee, there’s no one-size-fits-all answer — only the best option for your unique setup!

Need help finding the right coverage? We can help with that! Reach out to Avalue Insurance today, and let us help you find a solution that works best for you and your business!

Fictional Characters and the Insurance They Would Need

Posted on August 1, 2024August 1, 2024 by Emilie Hagopian

Have you ever wondered what kind of insurance coverage your favorite fictional characters would need? After all, fictional characters tend to lead some pretty exciting lives! So what would it take to cover the damages of characters like Tony Stark, Marty McFly, and (dare I say) Michael Scott? Let’s talk about it!

Restaurant Insurance for Monica Geller

Monica Geller from Friends would need top-notch restaurant insurance for her dream bistro. This policy would cover everything from property damage to liability in case a customer has a not-so-friendly encounter with one of her experimental dishes. Avalue Insurance could also provide business interruption insurance, ensuring Monica’s restaurant stays afloat if she ever needs to close temporarily. Plus, she’d get peace of mind knowing her prized kitchen equipment is protected.

Cyber Insurance for Tony Stark

Tony Stark, aka Iron Man, is a tech genius with countless inventions and a massive tech company. With great technology comes great responsibility – and risk. Tony would definitely need cyber insurance to protect against data breaches, hacking attempts, and other cyber threats that could jeopardize Stark Industries. This coverage would help him protect his intellectual property and keep his advanced tech safe from cyber villains.

Business Insurance for Leslie Knope

Leslie Knope from Parks and Recreation is the ultimate government employee, but let’s imagine she starts her own nonprofit organization. Leslie would need business insurance to cover liability issues, property damage, and any potential lawsuits. This way, she can focus on making Pawnee a better place without worrying about unexpected setbacks.

Auto Insurance for Marty McFly

Marty McFly’s DeLorean is no ordinary car, so standard auto insurance just wouldn’t cut it. With time travel capabilities, he’d need a custom auto insurance policy covering everything from high-speed chases to potential damage from 1955 lightning strikes. Flux capacitor coverage? Absolutely!

General Liability Insurance for Michael Scott

Michael Scott from The Office is always up to some kind of shenanigan that could easily result in a lawsuit. General liability insurance would be perfect for Dunder Mifflin’s Scranton branch, covering any potential legal issues arising from Michael’s well-meaning but often misguided actions. This would help protect the company from financial losses and keep the office running smoothly.

Need Insurance Help? Call Us!

Just like these fictional characters, real life can be unpredictable. But having the right insurance coverage can make all the difference. At Avalue Insurance, we’re here to help you find the perfect policies to fit your needs. Whether it’s home, auto, business, or any other type of insurance, we’ve got you covered. Contact us today to learn more about how we can help protect you and your loved ones from life’s unexpected twists and turns!

Top 10 Mistakes to Avoid When Buying Commercial Auto Insurance

Posted on July 8, 2024July 8, 2024 by Emilie Hagopian

KEY TAKEAWAYS:

Here are the top mistakes that people make when buying commercial auto insurance:
- Underestimating Coverage Needs
- Not Including All Drivers
- Ignoring Vehicle Types and Uses
- Choosing the Wrong Deductible
- Overlooking Additional Coverage Options
- Failing to Review Policies Regularly
- Neglecting Employee Training
- Not Shopping Around
- Ignoring the Fine Print
- Skipping Professional Advice

Commercial auto insurance is crucial for any business that relies on vehicles. Whether it’s a delivery service, a construction company, or a delivery business, your company vehicles deserve the best possible coverage. But navigating the world of commercial auto insurance can be tricky, and many business owners make avoidable mistakes that can cost them dearly in the long run. Here are some common pitfalls and how to avoid them when you’re insurance-shopping.

10 Mistakes People Make When Shopping for Commercial Auto Insurance

1). Underestimating Coverage Needs

One of the biggest mistakes people make is underestimating how much coverage you actually need. Many business owners opt for the minimum coverage required by law, thinking it will save them money. But this can actually leave you vulnerable to significant out-of-pocket expenses if an accident occurs. It’s crucial to evaluate your specific risks and ensure your policy covers all potential scenarios, including liability, property damage, and medical costs.

2). Not Including All Drivers

Another common mistake is not listing all the drivers who will be using the insured vehicles. Insurance companies need to know who will be driving the vehicles to assess the risk accurately. Failing to include all drivers can result in denied claims if an unlisted driver gets into an accident. Make sure you provide a comprehensive list of all employees who might drive the company vehicles, even if they only do so occasionally.

3). Ignoring Vehicle Types and Uses

Commercial auto insurance policies can vary significantly based on the type of vehicles you have and how they are used. A policy that’s perfect for a fleet of delivery vans might not be suitable for a construction company with heavy trucks. Be upfront about how each vehicle is used and ensure your policy is tailored to these specifics.

4). Choosing the Wrong Deductible

Selecting the right deductible is a balancing act. A higher deductible can lower your premiums but may require you to pay more out of pocket in the event of a claim. And a lower deductible can increase your premium but reduces your out-of-pocket expenses. Consider your financial situation and risk tolerance carefully when choosing a deductible.

5). Overlooking Additional Coverage Options

Basic commercial auto insurance policies cover liability, collision, and comprehensive damage, but there are many additional coverage options that can provide extra protection. For instance, uninsured/underinsured motorist coverage, roadside assistance, and rental reimbursement can be invaluable. Evaluate these add-ons and consider which ones make sense for your business. Skipping these options to save on premiums might leave you regretting it when an unexpected event occurs.

6). Failing to Review Policies Regularly

Business needs change over time, and so should your insurance policy. A common mistake is purchasing a commercial auto insurance policy and then neglecting to review it regularly. As your business grows or changes, your insurance needs will evolve. Schedule annual reviews of your policy with your insurance agent to ensure it still provides adequate coverage and adjust as necessary.

7). Neglecting Employee Training

Your drivers’ skills and behaviors have a direct impact on your insurance premiums and claims history. Neglecting to provide adequate training for your employees can lead to accidents and increased insurance costs. Implement a comprehensive driver training program to ensure all employees understand safe driving practices. This not only helps in reducing the likelihood of accidents but can also positively affect your insurance rates.

8). Not Shopping Around

Loyalty to a single insurance provider might seem convenient, but it can prevent you from finding the best rates and coverage options. The commercial auto insurance market is competitive, and rates can vary significantly between providers. Take the time to shop around and compare quotes from different insurers. This doesn’t mean you have to switch providers every year, but regularly comparing options can ensure you’re getting the best deal.

9). Ignoring the Fine Print

Insurance policies are filled with fine print that can be easily overlooked. But ignoring these details can lead to misunderstandings about what is and isn’t covered. Take the time to read through your policy thoroughly and ask your insurance agent to explain any confusing terms or conditions. Understanding the fine print will help you avoid surprises when you need to file a claim.

10). Skipping Professional Advice

One of the biggest mistakes is trying to navigate commercial auto insurance without professional advice. Insurance agents and brokers specialize in different policies and can provide some much-needed guidance.

Ready to start shopping for commercial auto insurance with a seasoned professional? Contact Avalue Insurance today! We’ll help you find the right policy at the right price. Give us a call today at 303-773-3332 or request a call-back right here online!

Simplifying Restaurant Insurance: CommonQuestions and Answers

Posted on June 11, 2024June 11, 2024 by Emilie Hagopian

If you’re in the restaurant business, you know that running a successful establishment involves more than just serving up delicious dishes. It’s also about ensuring that your business is adequately protected with the right insurance coverage. But if you’re like most restaurant owners, then you probably have plenty of questions. So, let’s answer some of the most common questions about restaurant insurance so you can feel more confident about your insurance decisions.

1). What exactly is restaurant insurance?

Restaurant insurance is a specialized type of coverage designed to protect your establishment from various risks and liabilities. It typically includes several types of coverage tailored specifically to the unique needs of restaurants, such as general liability, property damage, liquor liability, workers’ compensation, and more.

2). Why do I need restaurant insurance?

Running a restaurant comes with inherent risks, from slip-and-fall accidents to food-borne illnesses and property damage. Without proper insurance coverage, you could be exposing your business to significant financial losses. Restaurant insurance provides peace of mind by safeguarding your investment and helping you recover from unexpected setbacks.

3). What does restaurant insurance cover?

Restaurant insurance policies can vary depending on your specific needs and the insurance provider you choose. However, most policies typically include coverage for property damage, liability claims, equipment breakdown, food spoilage, employee injuries, and legal expenses arising from lawsuits.

4). How much does restaurant insurance cost?

The cost of restaurant insurance can vary depending on factors such as the size of your establishment, the type of coverage you need, your location, and your claims history. Generally, premiums are calculated based on your level of risk exposure and the likelihood of potential claims.

5). How can I get restaurant insurance?

To ensure that you have the right coverage for your restaurant, it’s important to work with an experienced insurance agent who understands the unique challenges of the foodservice industry. That’s where we come in. At Avalue Insurance, we specialize in restaurant insurance and can help you get the right coverage for your restaurant.

Ready to protect your restaurant? Don’t wait until disaster strikes to think about insurance. Protect your restaurant and your hard-earned investment with comprehensive restaurant insurance from Avalue Insurance. Contact us today to learn more and to request a free consultation!

The Importance of Commercial Property Insurance for Small Businesses

Posted on June 7, 2024June 7, 2024 by Emilie Hagopian

Running a small business is no small feat. From managing daily operations to keeping customers happy, there’s always something on your plate. With so much to handle, it’s easy to overlook one critical aspect: protecting your physical assets. That’s where commercial property insurance comes in. Let’s talk about why commercial property insurance is so crucial for small businesses and how it can be a lifesaver in times of need.

First, What is Commercial Property Insurance?

First things first, what exactly is commercial property insurance? In simple terms, it’s a type of insurance that protects your business’s physical assets from unexpected events like fire, theft, vandalism, and natural disasters. This includes buildings, equipment, inventory, furniture, and even exterior fixtures like signs and fencing. It can even cover loss of income!

Why is it Important for Small Businesses?

Here are a few reasons why commercial property insurance is a must-have for small businesses:

1). Protection Against Financial Loss

Imagine a fire breaks out in your office or store, destroying everything inside. Without commercial property insurance, you’d have to cover the cost of repairs and replacements out of pocket, which could be financially devastating. With insurance, you’re protected from such losses, allowing you to get back on your feet without draining your savings.

2). Peace of Mind

Knowing that your business is protected from unforeseen events gives you peace of mind. You can focus on growing your business without constantly worrying about what might happen if disaster strikes. This peace of mind is invaluable and can help you make better business decisions.

3). Compliance and Contracts

Most landlords and lenders require businesses to have commercial property insurance as part of lease agreements or loan conditions. Having the right insurance ensures you meet these requirements and can help you avoid legal issues or breaches of contract.

4). Protecting Your Investments

You’ve likely invested a significant amount of money into your business assets. Commercial property insurance helps protect this investment. Whether it’s expensive equipment, valuable inventory, or a beautifully designed office space, insurance ensures that your investments are protected against unexpected events.

5). Business Continuity

In the event of a major disaster, the downtime and disruption can be crippling. Commercial property insurance often covers business interruption, helping you cover lost income and operating expenses while you get back on track. This can be the difference between a temporary setback and permanent closure.

Real-Life Scenarios

To put things into perspective, here are a couple of real-life scenarios where commercial property insurance can be a lifesaver:

Scenario 1: A boutique owner finds her shop vandalized with broken windows and damaged inventory. Thanks to her commercial property insurance, the repair costs and lost inventory are covered, and she can reopen her shop quickly.

Scenario 2: A tech startup’s office is hit by a severe storm, causing water damage to their equipment and workspace. Their insurance policy covers the cost of repairs and replacement of damaged equipment, allowing them to continue their operations without significant financial strain.

Ask Your Local Insurance Experts About Commercial Property Insurance Today

Don’t wait until it’s too late to protect your business. Contact Avalue Insurance today to learn more about commercial property insurance and how it can protect your small business from the unexpected! Our experts are here to help you find the perfect amount of coverage for your budding business. Reach out today and give your business the protection it deserves!

Contractors Insurance: What it is and Why You Need It

Posted on May 25, 2024May 25, 2024 by Emilie Hagopian

KEY TAKEAWAYS:

Contractors insurance offers all the coverage that a contractor could ask for without all the extra coverage that they don’t need!
Contractors face high risks, making general liability insurance essential.
General liability insurance protects business assets, ensures business survival in legal battles, and provides security for employees.
Contractors can opt for tailored general liability insurance instead of a bundled Business Owner’s Policy (BOP) to save costs.
The cost of insurance depends on policy size, business location, and the company’s track record with accidents and claims.

Protect Your Business with Contractors Insurance

Let’s talk about something that might not be on your radar but should be, contractors insurance.

If you’re a contractor, then you’re already aware of the risks that come with the job. But what happens when those risks become realities? One accident can lead to hefty settlements or damages that your business might not be able to afford. So, having adequate general liability insurance is not just a good idea — it’s essential.

That’s where contractors insurance comes in. It offers all of the general liability coverage that you’ll need without all of the extra coverage that you don’t need. Think of it as insurance designed with your niche in mind!

Why Contractors Need General Liability Insurance

For contractors, the stakes are high. You’re not just working with materials and tools; you’re dealing with potential liabilities that could hit your business hard. Here’s why general liability insurance is a must:

Asset Protection: Imagine you’re facing a lawsuit for bodily injury or property damage. Without sufficient general liability coverage, your business assets could be on the line. This insurance helps safeguard what you’ve worked so hard to build.

Business Survival: Legal battles are expensive. General liability insurance can cover court costs and settlements up to the policy limits, giving your business a fighting chance to survive if a judgment goes against you.

Security for Your Team: It’s not just about you; it’s about your employees, too. This coverage protects against claims brought against the company and individual employees, ensuring that everyone has some peace of mind.

Tailoring Insurance to Fit Your Needs

For many businesses, general liability insurance comes bundled with other coverage in a Business Owner’s Policy (BOP). But as a contractor, you might not need all the extras that come with a typical BOP. Instead, you can opt for contractors insurance, which is a more cost-effective way of getting the general liability coverage that you need.

What Affects the Cost of Contractors Insurance?

So, now you know why contractors insurance is important. But we know what you’re going to ask next: what’s the cost? Great question. A few different factors play a role in determining the cost of your insurance (but don’t worry, it’s not as complicated as it might sound). These factors can include:

Sales and Operations
Location
Track Record

Get a Quote on Contractors Insurance Today

Interested in contractors insurance? Let us help! At Avalue Insurance, we understand the unique challenges you face as a contractor, and we’re here to help you find the best coverage at the best price.

At Avalue Insurance, we pride ourselves on our local knowledge and personalized service. Our agents are here to guide you through the process, ensuring you have the coverage you need without paying for extras you don’t. Whether you’re a solo contractor or run a large operation, we’ve got you covered.

Don’t wait until it’s too late to protect your business. Contact Avalue Insurance today to get a quote on contractors insurance. Give us a call today at 303-773-3332, email us at info@avalueinsurance.com, or visit our office in Centennial, Colorado!

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