Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Colorado Publishers Insurance
Colorado Publishers Insurance. A publishing business might seem like a business without many risks, but many things can happen daily to destroy your business. As the owner of a CO publishing company, you should always ensure you have the proper protection for your business. There are several different publishing house insurance polices and we'll take a look at how you can get the right one for your business. Getting the right Colorado publishers insurance is a matter of knowing the risks you face and what you need to protect.
Colorado publishers insurance protects your shop from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
What Are The Risks Involved In The Publishing Business?
There are many dangerous equipment and chemicals used in the publishing business which you need to protect your business for. Equipment such as forklifts, printing presses, and packaging equipment can prove hazardous. The employees of a publishing business are always at risk. Not only are the employees affected but also the buildings you use for your publishing business. Unpredictable events could damage the buildings you use for operation outside of your control. If a storm destroys one of your buildings, then this could delay production in your business.
In addition to employees getting injured and the buildings, you use for your business being damaged there is also the risk of your business being sued for negligence. To fully protect we'll take a look at the different types of Colorado publishers insurance.
Major Types Of Protection For Your CO Publishing House
Business Property Insurance - This insurance protects the buildings and their contents from damage. As a CO publishing business, this is critical to the success of your business. Having this insurance protects your computers, office equipment, furniture, supplies and other inventory if they get damaged. Business Interruption Coverage is also a part of this coverage. If you have to relocate your business or fire destroys your business, then compensation is provided with this coverage.
Commercial General Liability Insurance - Anytime bodily harm or damage to property happens as a result of your negligence you'll be protected with this type of Colorado publishers insurance.
Equipment Breakdown Insurance - Any time equipment breaks down in your business you will be protected if you have this insurance. If a printing press or binding machine develops a problem this insurance will handle the costs associated with it.
CO Commercial Auto Insurance - Covers the vehicles you use for your business. What this insurance does is that it provides you with protection if a claim is made against your business for property damage or bodily harm cause by a vehicle owned by your business. Having this insurance gives you the protection you need for your publishing business vehicles.
Umbrella Insurance - The limit of your underlying liability insurance may be too low. If this is the case, you can always purchase excess liability coverage with umbrella insurance. When the limits of your other policies are exhausted, then this insurance provides the extra protection you need.
Publisher Liability Insurance - This Colorado publishers insurance protects you from lawsuits made against your publishing company for the content you publish. As a publishing business, the content you produce on a mass scale can put you at risks for liability lawsuits.
Workers Compensation - While on the job there many times your employees could be injured. For this reason, you must ensure that you do everything you could to keep them protected while working. Workers' compensation coverage will give you the ability to protect your employees properly. In addition to be being mandated for any non-owner employees, CO workers comp is the most affordable way for you to protect your employees from work-related injuries. If an employee is injured and needs medical attention, then workers' compensation will help with any medical bills. If an injury on the job results in a fatality, then this insurance pays benefits to the surviving family.
The Bottom Line
Having the right protection for your business is important. To adequately protect your business you must have insurance. Getting the right insurance for your publishing business comes down to knowing your business and what you need to protect it. Speak with an experienced insurance agent about your publishing business and find the protection that is right for you.
Colorado Economic Data & Business Insurance Information
If you're thinking about doing business in Colorado, it's important to familiarize yourself with the economic status of the state, as well as the regulations and limits regarding insurance for businesses. Below, we offer insight into pertinent economic data related to the state of Colorado, as well as key business insurance information so that you can put your best foot forward and make the best decisions for your business in the Centennial State.
Business Economic Trends In The State Of Colorado
According to recent reports from the leading economic researchers, the state of Colorado has a healthy outlook, economically speaking. While fewer jobs will be added in 2018 than have been in recent years, the growth rate is still expected to climb.
It's anticipated that entrepreneurs who are really interested in taking risks in new ventures will be the leading contributors for the state's economic growth. However, less risky industries will lend to the economy, as well, such as cloud computing and cybersecurity.
In regard to the fuel industry, it is anticipate that there will be an increase in valuation of about 9 percent in the year 2018, and this growth pertains mainly to gas and oil. This increase will largely be due to the improvement in energy prices, which are lower this year than they have been in recent years. It's hopeful that energy prices will continue to fall so that these industries can continue to thrive.
In terms of agriculture, it's projected that farms in the state of Colorado will do a little better this year than they did in 2017. Leading economic research agencies are expecting that the income from agriculture will reach nearly $1.4 billion in 2019.
In regard to the retail market, it is also expected that this industry will see steady growth, despite the rising trend of e-commerce solutions. In fact, it's estimated that the rate of employment in the retail sector will increase by as much as 2.1 percent during the 2019 fiscal year.
Regulations And Limits For CO Commercial Insurance
The Colorado Division of Insurance regulates insurance in Colorado. CO is considered a "fault state", meaning that business owners are not legally required to carry liability insurance; however, liability coverage is the type of commercial insurance that is most commonly purchased in the state. Commercial liability insurance covers business owners and their clients for things like bodily and personal injury, commercial property damage, and injuries that pertain to advertising injuries.
The only commercial insurance that business owners are required to carry is workers' compensation insurance. Any business that employees an hourly or wage staff must carry this type of coverage to protect their employees.
Additional Resources For Manufacturing & Wholesaler Insurance
Read informative articles on small business manufacturing and wholesale insurance. Manufacturing and wholesale companies face many risks due to the nature of their business operations.
For manufacturers and wholesalers, having the proper coverage is very important. You will need Products/Completed Operations Liability Coverage to protect you against injuries or property damage cause my the products you make or sell.
What does the insured does that could result in a covered loss? The insuring agreement only requires that the insured be legally obligated to pay damages for injury to others or damage to their property included within the products-completed operations hazard covered by the insurance.
Because of this, every product manufactured and completed operation exposure for each named insured must be determined, described and evaluated to be certain that each represents acceptable exposures, or are acceptable classes of business to the insurance company providing coverage.
Once the extent of all business activities and operations is determined, the process of identifying hazards begins. The first step in the process is completely listing and describing all current products being manufactured and projects being worked on.
The next step is obtaining the same information for discontinued products and completed projects for the past five to 10 years, depending on the products or projects involved. This should include an explanation of why the products were discontinued. If some completed projects were of a different type than those currently being worked on, an explanation is in order, including whether the insured may resume them in the future.
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