Category: Commercial Insurance

The Pethel Insurance Group serves business owners in Kannapolis, NC, and all of western North Carolina. Although most of our customers are aware that their commercial insurance covers their buildings and personal property, some find certain add-ons to commercial coverage highly desirable.

Basic Commercial Insurance Coverage

Your commercial policy covers your building. This can be a building you own or a net lease, a property you don’t own but are responsible for insuring. Any machinery that is permanently attached is considered part of your building.

Your commercial policy also covers your business property. This includes furniture and fixtures, movable equipment, inventory, upgrades you make to a space you rent, and leased equipment you have a responsibility to insure.

Where do you need an agent to ensure you get the right coverage? Your policy’s cause of loss page can be special, basic, or broad.

Why does this make a difference?

• The particular cause of loss form means that every peril that can cause you damages is included unless it is specifically excluded.
• Basic and broad cause of loss means that every peril that can cause you damages is excluded unless it is specifically included.

Your Pethel Insurance Group agent can verify the kind of coverage you have.

Two Kinds of Commercial Insurance You May Want to Add to Your Policy

Many of our customers in Kannapolis, NC, and beyond need business interruption insurance. This rider to your commercial policy pays your payroll, normal operating expenses, and even your expected net income while your business is non-operational (or losing money) due to a covered event.

It’s also possible to get coverage for equipment breakdowns. This rider offers coverage when, for instance, your boiler goes out, your elevator doesn’t work, electrical systems fail, or your manufacturing equipment is nonfunctional.

Don’t forget to ask your Pethel Insurance Agent about commercial insurance!

Pethel Insurance Group has the experience and expertise to help you make sure you have exactly the coverage you need. Call us today!

Commercial insurance will provide coverage for your new restaurant. Learn how this type of insurance could benefit you as a new restaurant owner.

Commercial Insurance

The manner in which you operate your business will influence the type of insurance coverage that is needed. First, prepare a list of the restaurant equipment, commercial vehicles, and other assets that you own.

This list should indicate the value of each item that is used during normal business operations. Pethel Insurance Group serving Kannapolis, NC will go over the items on your list. We can make insurance recommendations that will benefit you as a business owner.

Amount Of Sales

The amount of sales that are projected to take place at your restaurant will influence how much coverage you need. The agent who assists you will need to be provided with information about the manner in which you plan to operate your business. You can provide this overview during a scheduled meeting with an insurance agent. 

Business Risks

An agent who represents Pethel Insurance Group will consider risks that could affect the amount of coverage your business needs. The location of your restaurant, for instance, will be taken into account.

If you operate your business in a region where theft or vandalism is likely to occur, the agent who serves you may recommend that you seek more coverage. All the risks that are identified will be discussed during your meeting with a Kannapolis, NC agent.

Consult With Us

The agents who represent Pethel Insurance Group are trained to educate business owners about the types of insurance products that are available. Feel free to contact an agent about any insurance coverage questions or concerns that you have.

As a business owner in the Kannapolis, NC area, you have the responsibility of protecting yourself and your employees from any harm or financial loss. One way to do this is by investing in workers’ compensation insurance from Pethel Insurance Group. 

Why This Vital Coverage?

Workers comp insurance provides coverage for medical costs and lost wages if an employee is injured while on the job. It also covers expenses related to rehabilitation and death benefits should an employee die as a result of a workplace accident or illness. With this type of insurance, injured employees can regain their health and return to work with minimal disruption to your business operations.

In addition, workers comp insurance can provide businesses with legal protection against claims from employees who allege that their injury was caused by the negligence of someone else. This type of coverage also helps reduce the risk of costly litigation that could arise from workplace injuries or illnesses due to employer negligence.

Overall, workers’ compensation insurance is an important investment for any business owner who wants to protect themselves and their employees from financial loss related to workplace accidents or illnesses. Not only does it provide peace of mind, but it can also help limit potential liabilities that may arise in such situations.

We Can Help!

For more information or to find a policy that can keep you and your employees covered, give us at Pethel Insurance Group a call today. We are proud to serve the greater Kannapolis, NC area and would be happy to help you find a policy that meets both your needs and your budget. So give us a call today! Both you and your employees will sleep better knowing that you are covered.

Commercial insurance is designed to cover the costs of damages or losses that are incurred as a result of certain business activities. In other words, it protects your business from financial loss due to things like property damage and liability claims. Pethel Insurance Group, serving the Kannapolis, NC community, is here to assist with this vital coverage.

There are several different types of commercial insurance available, each with its own specific purpose.

Some common examples include:

Property insurance

This type of coverage protects your business against losses related to physical assets such as buildings, equipment, and inventory. It may also provide protection for assets that are temporarily away from your premises, like vehicles being used for company errands.

Liability insurance

If someone suffers an injury or incurs property damage while on your premises or using your products or services, liability insurance covers the cost of any legal action that may be taken against you.

Workers’ compensation insurance

In most states, employers are legally required to carry workers’ compensation coverage for all employees. This type of policy provides financial protection if an employee is injured or becomes ill as a result of their job, and it also helps to cover associated medical bills and lost wages.

Ultimately, the right commercial insurance plan depends on your company’s unique needs and risks. When choosing a policy, it’s important to work with an experienced agent who can help you evaluate your options and find the right coverage at a competitive price.

Contact Us Today

The benefits of investing in commercial insurance cannot be overstated – it can protect your business from major financial losses. For more information about commercial insurance, give us at Pethel Insurance Group a call today. We proudly serve the Kannapolis, NC area. 

Commercial insurance policies typically come in two types. The first is a liability insurance policy. This type of policy will protect against financial losses caused by another party. 

The second main type of commercial insurance is coverage for property, liability, or both. This type of policy will protect against financial losses caused by things such as natural disasters or accidents. For questions, consult Pethel Insurance Group serving the greater Kannapolis, NC community. 

What to Look For in a Commercial Insurance Policy 

Commercial insurance is purchased by a company or business rather than an individual. A commercial policy typically covers what a standard homeowners’ or auto policy would cover, such as property damage or accidents. But it goes beyond to insure things such as your business, advertising, inventory, and stock. 

Commercial insurance is designed to protect businesses against the risk of financial loss due to a covered peril. The most common types of commercial insurance policies include liability insurance, which protects a company against the risk of being sued due to an injury or loss to third parties. Typically, the policies are: 

• Unique in that they are not tied to a specific business, industry, product, or a single location. Therefore, there are a number of different types of commercial insurance available, and it is important to know the difference between them. 
• Have a shorter duration, typically ranging from one to five years.
• Have a higher deductible, which means you must pay a percentage of the claim before the insurance company is responsible for paying anything. 
• Have a maximum claim limit.
• Have a minimum amount of coverage that you must have, which means you can be left without enough coverage to cover the cost if something happens. 

Contact Us Today

A commercial insurance policies come in different forms and you can purchase them directly from an insurance company or through a broker. First, you should ensure the policy comes from a reputable insurance company. 

Second, make sure the coverage you purchase is exactly what you need. For expert assistance in the Kannapolis, NC area, consult Pethel Insurance Group.

Owning a small business is challenging. Risks are around every corner and it may seem at times as if the world is out to get you and put you out of business.  20% of small businesses fail in their first year and by year 5 it is 50%. The odds really are against you, but having the right commercial insurance can certainly help mitigate some of the risks of doing business. In Kannapolis, NC,  Pethel Insurance Group is an independent insurance agency that can help customize a commercial policy to your business. 

Commercial property insurance

Property coverage in the commercial sense covers the building where you do business. But more than that, in the event you are a renter, it covers all your business machinery, tools, and equipment. If you use it to do business, you are covered. It can be your office equipment, inventory, raw materials, tools, etc. The coverage is tailored to the type of business that you do. If a peril strikes, you will be able to get back to business as usual quicker. 

Commercial liability insurance

Small businesses are very susceptible to being sued. Every year, 36-53% of small businesses have to deal with a lawsuit. A lawsuit if you don’t have commercial liability insurance, can be devastating and it could mean your business will not survive. Between customers, vendors, and disgruntled employees, there is an almost endless supply of possibilities. 

Commercial auto insurance

If your business owns a vehicle,  it should be covered by commercial auto insurance. It is wise to keep your business and personal finances separate. 

Business interruption insurance

When a covered hazard hits your business, you won’t have any money coming in. Business interruption insurance will provide the money you need to pay your bills and meet your payroll. It can definitely save your business. 

Contact Pethel Insurance Group in Kannapolis, NC to discuss your commercial insurance needs.