Kansas Commercial Insurance: How to Know What Coverage Your Business Needs

When you are running a business in Kansas, you want to make sure that everything you have worked so hard for is protected. You may be looking for Kansas commercial insurance to help you do that, or you may want to be updating an existing business insurance policy.

At DJ Kauffman Agency, we want Hutchinson, KS business owners to feel protected against financial losses caused by liabilities and property damage. We can help you to determine what kind of Kansas business insurance your company needs.

Inventory Your Company’s Valuables

If you aren’t sure what your business needs, make a list of the things that are valuable to your company. Consider what your losses would be.

Is it data? Is it equipment? Is it people? If your business was damaged or in peril in any way, what would you need to be replaced? 

Look at every value or valuable on your list, there’s probably insurance coverage for that.

Commercial Liability Insurance

This is the general liability insurance that most businesses in Kansas will have. You are not required by law to carry it. If you have a mortgage on the property, your lender may want to see proof of liability insurance.

When there is an injury or death on your property, you may be held liable. This insurance will cover the other party’s costs for medical, lost wages, and any property damage they sustain.

Additional Kansas Commercial Insurance to Consider

There are a number of commercial insurance add-ons or riders that you can add to your Kansas business insurance policy.

• Equipment or tools insurance coverage: Every computer and pencil cup matters
• Commercial auto insurance
• Cybersecurity protection: Identity theft, data breach coverage, business interruption insurance
• Professional liability, errors and omission, director’s and officer’s insurance

Get a Quote

When you are looking for Kansas commercial insurance, there are a number of coverages that you can get. At DJ Kauffman Agency, we want Hutchinson, KS business owners to feel secure with their commercial insurance policy. Call us for a quote today.

How Commercial Insurance Can Protect Your Business

Being a business owner is one of the most satisfying accomplishments you can achieve. Only a few people ever get to enjoy that feeling of accomplishment. However, along with that satisfaction of business ownership also comes significant responsibility. Your employees, customers, and clients depend on you to provide a certain level of security and protection at your place of business. How will you provide this? DJ Kauffman Agency, serving Hutchinson, KS can help you provide the protection and peace of mind you need for your company. Keep reading to find out what you need to know about commercial insurance. 

What is Commercial Insurance?

Commercial insurance is a suite of insurance products that have been specially designed with the business owners in mind. There are many aspects to your company which need protection. A commercial insurance policy is designed to cover all of these aspects so that you can focus your energy and time on running your company. 

What Does Commercial Insurance Cover?

A commercial insurance policy can be customized to suit your specific needs, but there are a few general areas of protection. 

  • Property Damage – Property damage coverage is necessary for the business owner who operates a brick-and-mortar establishment. If your physical location sustains damage due to natural disaster, fire, or burglary, your commercial insurance policy will help pay for repairs or property replacement. 
  • Auto Insurance – If your company uses automobiles daily for your business’s operations, those automobiles will need to have sufficient insurance coverage. Your commercial policy will take care of this and cover the drivers you approve for those vehicles. 
  • Liability Coverage – Liability coverage is essential to the long-term financial health of your business. If a customer, client, or employee is injured on your property or as a result of your goods and services, you could be held liable for any medical or legal expenses which result. Liability coverage will help pay for this. 

If you would like to learn more about our services, please contact DJ Kauffman Agency, serving Hutchinson, KS. 

5 Things to Know about Commercial Insurance

As a business owner in Kansas, it’s important to know about the commercial insurance options you have for your business.

1. What Is Commercial Insurance?

Commercial insurance will help you cover different aspects of your business. This can include general liability, property insurance, and workers’ compensation. Different policies, such as a business owner’s policy, combine various insurance types for your needs.

2. Is Commercial Insurance Required?

In Hutchinson, KS, and other areas in the state, commercial insurance, including workers compensation insurance, is not required. Still, different types of insurance will be required depending on the type of business you run. At a minimum, you want to have general liability insurance to protect you from several different lawsuits. However, there is no one-size-fits-all approach when it comes to commercial insurance. An agent at DJ Kauffman Agency can help you decide which is the best type of insurance for your business and whether it’s required or not.

3. Is Commercial Insurance Deductible?

Commercial insurance can be deducted from business expenses if it covers your business operations or trade. However, you cannot deduct it if it covers loss of business earnings or a self-insurance reserve fund.

4. What Determines the Premiums for Commercial Insurance?

Your commercial insurance will be dependent on several factors, such as your industry, number of employees, payroll size, and claims history.

5. When Should You Review Commercial Insurance?

Commercial insurance is usually a 12-month contract, and it’s not recommended to jump from one carrier to another while you are in the middle of a term. At the end of the term, it’s always a good idea to evaluate your coverage and see if your circumstances have changed and if that would require you to update your coverage.

Contact DJ Kauffman Agency to get a quote on commercial insurance.

Will My Commercial Insurance Protect Me if I Sell a Defective Product?

The agents of DJ Kauffman Agency Inc. can assist business owners in Hutchinson, KS if they need quality commercial insurance. Unknowingly selling a defective product can lead to financial hardship if liability issues come into play. It’s extremely important to understand how your commercial insurance works and exactly what it covers in case the unthinkable occurs. Talking to your agent about your concerns is the best way to find a positive solution.

Liability Coverage

If a defective product causes any type of injury, you may be liable for the medical expenses of the injured party. It’s an absolute necessity to carry liability insurance coverage as part of your commercial policy. This type of coverage guarantees to protect you if someone is injured while using one of your products. Liability insurance will cover the cost of their medical treatment and other expenses they may incur due to the injury.

Replacement Costs

Your commercial insurance will also cover the cost of replacing the damaged item. While you may eventually be able to recover the cost of the item from the original manufacturer, making sure that your customer is taken care of should be your top priority. Once you have taken care of their needs, you can begin working with the original manufacturer.

In Hutchinson, KS, business owners can trust DJ Kauffman Agency Inc. with all of their commercial business needs. Each agent will work diligently with their clients to ensure they have the type of policy in place that will meet their needs if a defective product is sold. When you have questions or concerns about your commercial insurance, call and speak to one of the agents today.

What Does Commercial Insurance Do?

Buying your first vehicle for the business can be just as exciting as buying your first car for yourself. It feels like a major milestone, and it can mean big things for the company. In all of that excitement, you don’t want to get carried away and forget one of the most important things. You need insurance for any company vehicle, and that insurance is not the same as your standard personal policy. We’re talking about commercial insurance today, and DJ Kauffman Agency Inc. in Hutchinson, KS wants you to know the basics before you dive into your search.

Covering Vehicles

Technically, commercial insurance refers to any business-class insurance policy. In general, the term “commercial insurance” is often used as a shortening of “commercial auto insurance.” We’re talking about cars and drivers. In essence, a commercial policy can cover business-owned vehicles in much the same way a personal auto policy would. You can get protection from theft and damage. If something happens to the vehicle, the policy helps you pay to remedy the situation.

Covering Employees

Often, the more important aspect of commercial insurance is liability coverage. The policy should cover any and every employee who will drive the insured vehicle(s). This protects you from liability claims if your vehicle or employee is involved in damaging property or causing injury, and it can be the thing that keeps the business from shuttering if the worst happens.

While commercial insurance covers many of the same things as a standard auto policy, the practice and scope of your business can make the finer details of the policy feel foreign. If you want to be sure you’re getting the right plan, talk to a representative of DJ Kauffman Agency Inc in Hutchinson, KS.