Required Commercial Insurance in Arizona

For businesses in Arizona, there are two types of commercial insurance that are required by the state. In addition, there may be other types of insurance that you need to protect the business, depending on the industry. If you need commercial coverage, call us at Insurance Center of Green Valley in Green Valley, AZ to find out more. 

Commercial Auto Insurance

If your company owns a vehicle, it is required that you have a commercial auto policy on that vehicle. This insurance policy must meet the mandatory minimum amounts for bodily injury liability and property damage liability. If your business has a car that it uses for work, but it is not owned by the company, it is suggested that it be covered by a hired and non-owned policy that is made precisely for vehicles like that. This protects you from having a personal auto policy that won’t pay out after an accident. 

Workers’ Compensation Insurance

If your business has one employee or more, it is required to keep workers’ compensation insurance for those employees. This is true even if you have just one worker who is part-time. There are some exceptions for specific types of workers and specific industries. For domestic workers that only work in the home, you are not required to have workers’ compensation for those workers. You are also not required to have it for people who only work occasionally or casually or who are independent contractors. 

Get Your Commercial Policies

If your business needs a commercial insurance policy, contact us today at Insurance Center of Green Valley in Green Valley, AZ. We can recommend helpful policies that can help to protect your business as well as help you with mandated commercial policies. 

Is Commercial Insurance All About Liability Protection?

At the Insurance Center of Green Valley, we always face this question from our Green Valley, AZ clients: Is commercial insurance only for liability protection? While commercial insurance protects you from advertising injury, property damage, and bodily injury liabilities, liability protection isn’t the only reason to purchase commercial insurance. Here are a few more reasons.

Compliance with the law

The Arizona State requires businesses to carry the below mandatory business insurance coverages:

  • Commercial auto insurance: It’s required for all vehicles used for business purposes. It provides liability and damage protection for your commercial vehicles. 
  • Workers’ comp insurance: If you have employees in your business, the law requires you to purchase workers’ comp insurance. This insurance covers employees’ medical costs, final expenses, and partial loss of income following work-related injuries. 

Physical assets protection

Let’s take an inventory count of your business assets — buildings, inventories, electronics, furniture, and vehicles — the list can go on and on. Now, imagine fire or hurricanes have struck your business. The resulting damage could be so massive, grinding your business to a halt.

Fortunately, when you have business insurance, damages to your business property and its contents are compensated up to your policy limit. While commercial insurance doesn’t protect your business against threats, it ensures you don’t start from scratch when the unthinkable happens.

Cyberattacks protection

If you have been keen on the news, you might have noticed the unspeakable damage caused to businesses by malicious online activities. For this reason, cyber insurance protects organizations from data breaches and associated costs of managing cyberattacks. Cyber insurance covers notification costs, defense costs, and government fines and penalties following a cyberattack.

Commercial insurance in Green Valley, AZ

Since your business means the world to you, partnering with the right insurance agent that takes your business interests at heart is an invaluable partnership. At the Insurance Center of Green Valley, we care about your business as much as you do. Contact us today for all your commercial insurance solutions. Let’s take care of your insurance needs as you prioritize more pressing needs.

Do You Need Separate Insurance for Personal Property?

As a homeowner in Green Valley, AZ, you already have a home insurance policy. The major question you have been struggling to understand is whether you need a separate insurance policy to cover your properties. According to the Insurance Center of Green Valley, your home insurance may help you cover your personal properties. However, there are some times when you need separate property insurance. 

When You Have Valuable Properties

Home insurance is fundamental. It helps in covering the exterior structure of your house and can cover some simple properties inside. Unfortunately, home insurance does not cover valuable properties. You must have a separate insurance policy that can help you to protect such requirements. Many homeowners are faced with great shock when they realize this. You need to prepare in advance to avoid possible issues.

When Living in Rental Properties

If you’re living in a rental property, you have not paid for the home insurance. Your landlord has paid for such insurance. However, they have not covered your personal properties. That is why you need to make sure that you have separate personal property insurance. However, you can always benefit from rental property insurance, which helps in covering your belongings.

When You Experience a Flood Problem

Flooding is a complex issue when it comes to insurance coverage. Most of the insurance companies are focused on avoiding it. Your personal properties will not be covered if they have been damaged by sewer floods. There will be an assumption that you could have prevented such flooding. To be on the safe side, you need to make sure that you have personal property insurance. 

Speak With an Expert

Insurance Center of Green Valley is the leading insurance company in Green Valley, AZ. If you’re getting it tough to decide on the need for personal property insurance, you can speak with our expert for clarification.

Is commercial insurance needed in Arizona?

When you are looking for a fun and exciting career, being a business owner can be a good decision to consider. There continues to be a lot of opportunity for success for business owners, particularly if you open one in the Green Valley, AZ area. When you are going to start a company here, it is important that you protect and secure it with insurance. Arizona businesses need commercial insurance for a few different reasons.

Insurance is a Requirement for Many Businesses

One reason that you should get a commercial insurance plan for your Arizona business is that it is often a requirement for business owners here to maintain this coverage. If you have taken out a business loan or raised outside capital, having commercial insurance is required. This insurance protection will ensure that the business assets are covered and that the lender or investor’s investment is protected against a variety of losses.

Insurance Protects Business

Even if you do not have commercial insurance requirements, having coverage is a good idea. A business that has commercial coverage will be protected against the risks of asset loss and liability claims. As both of these situations could be detrimental to your company and threaten future viability, your insurance policy could help to keep your organization fiscally healthy in tough times. 

Those that would like to start a small company in the Green Valley, AZ area should consider reaching out to the Insurance Center of Green Valley. Those that choose to contact the Insurance Center of Green Valley will find that the team offers a lot of resources that can help you choose a new plan. When you do call them, they will offer personalized guidance that will help any business choose a plan that offers ideal insurance protection. 

Required Commercial Insurance in Arizona

In Arizona, there are two types of commercial insurance that are required of virtually every business in the state. In addition to these, there are several types that may be helpful to your business but are not required by the state. If your business needs insurance, whether required or not, call us at the Insurance Center of Green Valley in Green Valley, AZ.

Commercial Auto Coverage

Every Arizona vehicle that is owned by a business of any size must have commercial auto insurance. There is a mandatory minimum amount of coverage that you must have for injury liability for one person and another amount for all of the injury liability for the entire accident. There is also an amount required for property damage liability for an accident. All of these required amounts are low when compared to most other states, so it’s often recommended to get a higher amount of coverage than the set minimum.

Workers’ Compensation Coverage

This type of coverage pays for the medical bills of employees when they have gotten sick or been injured in the workplace. This coverage is mandatory for every business that regularly has one or more employees whether those employees are part- or full-time. This protects your business against having to pay expensive medical bills if an accident or other incident should happen. It also keeps employees protected, as they will know that if they were to get sick on injured at work, there would be funds to pay for it.

Call to Talk to an Insurance Agent

If you need commercial insurance for your business, call us at the Insurance Center of Green Valley in Green Valley, AZ. Make an appointment to talk to an agent about these coverage types as well as the many optional types that may be recommended for your type of business. 

Do I need commercial insurance in Arizona?

The Green Valley, AZ area can be a great place to work and live. The strong local economy also makes it an ideal place to start a small business. As you are trying to put your business plan together, you also have to spend time thinking about your insurance needs. There continue to be a few reasons why you need to have a commercial insurance policy in this area of the state. 

Insurance Protects Company

A key reason to get commercial insurance for your company is that it can protect your organization. A small business will have a lot of risks that they need to mitigate as well as they can. When you get commercial insurance, you can mitigate a variety of risks that pose threats to the organization. With commercial insurance, you will have coverage against liability claims and can protect your most valuable business assets. 

Insurance Required by Stakeholders

You will also need to have commercial insurance as it will be required by stakeholders. Raising capital through a loan or outside equity is a good way to grow a business. Whenever you do this, your business will have commercial insurance requirements set by the investors or stakeholders. If you do not meet their insurance requirements, it will put you in default of your agreements. 

As you are looking to protect your business in the Green Valley, AZ area, you will determine that having proper insurance is crucial. When trying to build a commercial insurance policy here, it would be a good idea for you to call Insurance Center of Green Valley. The insurance team with Insurance Center of Green Valley understands the complexities that come with commercial coverage. They will then assess your business risk factors and requirements and help you build an appropriate insurance plan. 

How commercial insurance can save my small business

Arizona is one of the fastest-growing states in the union. It has low taxes and limited regulations which foster an atmosphere that is conducive to small business. The proof of the pudding is that there are more than half a million small businesses in Arizona employing more than a million workers. But even in such a business-friendly state, things can happen that endanger the future of your small business. At Insurance Center of Green Valley in Green Valley, AZ, we have been in business since 1989 and represent over 20 top-rated carriers. 

Commercial insurance offers a variety of different protections to small businesses that can save your business if you are hit with a covered peril or a lawsuit. Every small business has different needs and risks and every kind of commercial insurance coverage won’t be right. Some types, however, work for almost any type of business. 

Commercial property insurance

Whether you rent or own, commercial property insurance can help you to get back on your feet if you are hit with a covered peril like a fire or a severe weather event. It can help repair or replace any equipment or machinery you have lost. This includes office equipment and computers. It also will protect your inventory and raw materials. 

Commercial liability insurance

Getting sued is always a danger for any business. It can be the result of an injury on your property, a product you produce, or a service you provide. It can even be the result of a disgruntled employee. This insurance pays for a judgment against you and legal expenses. 

If you think your small business could benefit from commercial insurance at Insurance Center of Green Valley in Green Valley, AZ we have the expertise to guide you to the types of coverage you need. Stop by our office or give us a call for a no-obligation quote. 

Why should I get commercial insurance in Arizona?

If you are a business owner in the Green Valley, AZ area, you will soon find that there is a lot of opportunity for success. Those that are willing to work hard can build and establish a company that could do well for a long time. Those that are looking to succeed also need to consider their insurance needs. There are several reasons why a business owner here needs to get commercial insurance. 

Insurance Protects Against Liability Claims

One of the reasons that you should get a commercial insurance policy for your business is that it can help to protect against liability claims. A business that sells any type of product or service to a customer is going to be taking on liability risk constantly. To ensure that one claim does not put too much stress on you and your business, you should maintain an adequate policy. With commercial insurance, you will receive this valuable insurance protection.

Insurance Protects Business Assets

A full commercial insurance policy is also going to give you some valuable asset protection. As a business owner, you will need to invest in commercial assets to build and grow your business. If you were to suddenly lose these assets, it could put a lot of strain on your organization. Fortunately, when you get a commercial insurance policy, you can receive the protection that you need to cover these assets. 

There are plenty of situations when getting a commercial insurance policy is a good idea for a company in the Green Valley, AZ area. If you would like to cover your business, you should contact the Insurance Center of Green Valley. If you do call the Insurance Center of Green Valley, you will get the guidance and support you need to choose a new policy. 

When does an Arizona business need commercial insurance?

Those that are in the Green Valley, AZ area and want to start a business could find that this area offers a lot of potential and opportunity. When you are going to start a business here, you will want to make sure that your organization is properly covered by insurance. When you are a business owner in Arizona, there are several reasons why you may need to have commercial insurance.

Provides Valuable Coverage

There are many forms of beneficial insurance coverage that come with commercial insurance. When you have commercial insurance, you are going to have coverage to protect your business assets and you will have liability insurance. This could help to protect your investment in your company and ensure you receive necessary protection against liability risk. Ultimately, this could help to keep your business solvent.

Ensures Insurance Compliance

You will also want to have a commercial insurance policy because it will ensure you remain in compliance with all of your insurance requirements. Any business owner that has taken out a loan or has outside investors will likely have commercial insurance requirements. When you get a full insurance policy for your business, you will have the coverage in place that you need to comply with your obligations. 

There are several reasons why a business in the Green Valley, AZ will need to have commercial insurance. When you would like to learn more about your commercial insurance and need some guidance in picking a policy, you should contact the Insurance Center of Green Valley. The team at the Insurance Center of Green Valley will be able to answer any questions that you have when it comes to insuring and protecting your business. This can help you then pick a policy that offers the right protection. 

Three things to remember when you’re on the market for the right home insurance policy

Purchasing a home insurance policy is an important step in buying a home in Green Valley, AZ. At Insurance Center of Green Valley, we provide home insurance options for area residents.

There are some key things you need to remember to select the optimal home insurance policy for your needs. The following are three things to remember when you’re on the market for the right home insurance policy.

You need to factor home insurance premium payments into your budget.

Your home insurance premiums will be an ongoing expense. It’s important that you calculate your budget and make sure that you can afford this expense. If your home insurance premiums will be difficult for you to pay, you need to cut expenses somewhere. 

You may be able to enjoy reduced home insurance premiums by making safety improvements.

One thing that any homeowner should look into before purchasing a policy is whether or not they can bring down their insurance costs by making home improvements. Home insurance providers will often lower premium costs if updates are made to a home that reduces the chances of injury. 

You should periodically review your policies to see if you want to make any changes. 

Don’t forget about your home insurance after you purchase your policy. Your home insurance needs can change over time, so it’s a good idea to reevaluate your home insurance needs on an annual or periodic basis. See if you can reduce your coverage for lower premiums or if you need more coverage to protect your assets after some time has passed since you first bought your policy. 

If you’d like to explore Green Valley, AZ home insurance policies, get in touch with us at Insurance Center of Green Valley. We’re happy to answer all your home insurance questions!